Insurance Licensing Hawaii-Life-Producer Exam Collection - Hawaii Life Producer Exam (InsHI_Life01 OPLife01)

Updated: Aug 26, 2026
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Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

SectionObjectives
Topic 1: Life - Hawaii Specific- Hawaii Laws and Rules Pertinent to Life Insurance Only
  • 1. Variable Contracts
    • 2. Policy Clauses and Provisions
      • Protection of beneficiaries from creditors
      • Policy loan interest rate
      • Spouse's rights
    • 3. Group Life
      • Group requirements
      • Assignment of proceeds
      • Conversion
    • 4. Marketing methods and practices
      • Replacement
      • Annuities
    • 5. Participation in Surplus
      • 6. Credit Life
        - Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance
        • 1. Guaranty Associations
          • 2. Insurance Commissioner
            • General powers and duties
            • Examination of records
            • Notice of hearings
            • Penalties
          • 3. Marketing practices
            • Unfair and deceptive practices
            • Reporting and accounting for premiums
            • Sharing commissions
            • Required records and record retention
            • Controlled business
            • Premiums
          • 4. Definitions
            • Authorized and unauthorized
            • Domestic, foreign, and alien
            • Stock, reciprocal and mutual
            • Certificate of authority
            • Insurance
          • 5. Licensing
            • General qualifications for licensing
            • Persons required to be licensed
            • Denial, suspension, and revocation of licenses
            • Renewal of license and continuing education
          Topic 2: Life - General Knowledge- Retirement and Other Insurance Concepts
          • 1. Life settlements
            • 2. Tax treatment of insurance premiums, proceeds, and dividends
              • Individual life
              • Group life
              • Modified Endowment Contracts
            • 3. Group life insurance
              • Conversion privilege
              • Contributory vs. noncontributory
            • 4. Third-party ownership
              • 5. Social Security benefits
                • 6. Life insurance needs analysis and suitability
                  • Personal insurance needs
                  • Business insurance needs
                • 7. Retirement plans
                  • Qualified plans
                  • Nonqualified plans
                - Completing the Application, Underwriting, and Delivering the Policies
                • 1. Delivering the policy
                  • When coverage begins
                  • Explaining the policy and its provisions, riders, exclusions, and ratings to the client
                • 2. Completing the application
                  • Required signatures
                  • Changes in the application
                  • Consequences of incomplete applications
                  • Warranties and representations
                  • Collecting the initial premium and issuing the receipt
                  • Replacement
                  • Disclosures at point of sale
                  • USA PATRIOT Act and anti-money laundering
                  • Gramm-Leach-Bliley Act privacy
                • 3. Contract law
                  • Elements of a contract
                  • Unique aspects of the insurance contract
                • 4. Underwriting
                  • Insurable interest
                  • Medical information and consumer reports
                  • Fair Credit Reporting Act
                  • Risk classification
                  • Stranger/Investor-owned life insurance
                - Types of Policies
                • 1. Combination plans and variations
                  • Joint life (first to die)
                  • Survivorship life (second to die)
                • 2. Term life
                  • Types
                  • Special features
                • 3. Interest/market-sensitive/adjustable life products
                  • Universal life
                  • Variable whole life
                  • Variable universal life
                  • Interest-sensitive whole life
                  • Indexed life
                • 4. Traditional whole life products
                  • Ordinary whole life
                  • Limited-pay and single-premium life
                • 5. Annuities
                  • Single and flexible premium
                  • Immediate and deferred
                  • Fixed and variable
                  • Indexed
                  • Accumulation and annuity periods
                  • Payout options
                - Life Provisions, Riders, Options, and Exclusions
                • 1. Policy exclusions
                  • War
                  • Aviation
                  • Dangerous occupation
                • 2. Policy provisions and options
                  • Entire contract
                  • Insuring clause
                  • Free look
                  • Consideration
                  • Owner's rights
                  • Beneficiary designations
                  • Premium payment
                  • Reinstatement
                  • Policy loans, withdrawals, partial surrenders
                  • Non-forfeiture options
                  • Dividends and dividend options
                  • Incontestability
                  • Assignments
                  • Suicide
                  • Misstatement of age and gender
                  • Settlement options
                  • Accelerated death benefits
                • 3. Policy riders
                  • Waiver of premium and waiver of monthly deduction
                  • Guaranteed insurability
                  • Payor benefit
                  • Accidental death and/or accidental death and dismemberment
                  • Term riders
                  • Other insureds
                  • Long term care
                  • Return of premium
                  • Disability
                  • Cost of Living

                Insurance Licensing Hawaii Life Producer Exam (InsHI_Life01 OPLife01) Sample Questions:

                1. Which of the following Annuities has benefits that reflect the investment experience of a separate account?

                A) Immediate
                B) Variable
                C) Retirement
                D) Fixed


                2. Which of the following statements is CORRECT about group life insurance policies?

                A) They are not permitted to provide conversion privileges to an insured's spouse.
                B) They must provide equal coverage to an insured's spouse and each dependent child for amounts of up to
                50% of the insured's coverage.
                C) They are not permitted to provide conversion privileges to an insured's dependent children.
                D) They may provide coverage to an insured's spouse and each dependent child for amounts equal to the insured's coverage.


                3. A producer may have placed excessive controlled business when insurance written on the producer and the producer's family during a two-year period exceeds:

                A) one-quarter of the insurance premiums written by the producer on other risks
                B) one-half of the amount of insurance premiums written by the producer on all risks
                C) one-half of the total face amount written by the producer
                D) one-third of the total premiums written by the producer


                4. The number of continuing education credit hours that a Life and/or Accident and Health Producer must complete to have their license renewed is:

                A) 22
                B) 24
                C) 18
                D) 20


                5. Which of the following statements is CORRECT about a Straight Life policy?

                A) The insurance company may modify the policy by exercising a Nonforfeiture option.
                B) The cash value increases faster in the early policy years than in later years.
                C) Premiums are payable for the period of time that insurance protection is provided.
                D) The policyowner may choose the schedule and amounts of premium payments.


                Solutions:

                Question # 1
                Answer: B
                Question # 2
                Answer: D
                Question # 3
                Answer: B
                Question # 4
                Answer: B
                Question # 5
                Answer: C

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