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Insurance Licensing Hawaii-Life-Producer Exam Overview:

Certification Vendor:Hawaii Department of Commerce and Consumer Affairs (DCCA) Insurance Division / Pearson VUE
Exam Name:Hawaii Life Producer Exam
Exam Number:InsHI_Life01 / OPLife01
Real Exam Qty:96 (85 scoreable questions plus 11 pretest questions)
Related Certifications:Hawaii Resident Insurance Producer License
Hawaii Life Producer License
Exam Format:Computer-based examination, Test center delivery, Hawaii State-Specific section, OnVUE online proctored delivery, General Knowledge section, Multiple-choice questions
Available Languages:English
Passing Score:70 (scaled score)
Exam Duration:120 minutes
Exam Price:$75
Certificate Validity Period:License expiration and renewal requirements apply; certification validity is not separately specified for the examination
Recommended Training:Pearson VUE Hawaii Insurance Practice Tests
Exam Registration:Hawaii DCCA Insurance Division - Examination Information
Pearson VUE Hawaii Insurance Licensing
Sample Questions:Insurance Licensing Hawaii-Life-Producer Sample Questions
Exam Way:Computer-based examination at a Pearson VUE test center or through Pearson VUE OnVUE online proctoring. Test-center exam codes: InsHI_Life01. Online-proctored exam code: OPLife01. The examination consists of a 75-minute General section and a 45-minute Hawaii State section.
Pre Condition:Candidates must be at least 18 years old to be licensed. Hawaii does not require a specific pre-licensing education program or otherwise pre-screen examination candidates. Initial resident producer applicants generally must pass the required examination, complete fingerprinting, and submit the license application. Examination exemptions may apply to certain previously licensed or qualified applicants.
Official Syllabus URL:https://www.pearsonvue.com/content/dam/VUE/vue/en/documents/publications/121201.pdf

Insurance Licensing Hawaii-Life-Producer Exam Syllabus Topics:

SectionWeightObjectives
Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance23%- Marketing practices
  • 1. Required records and record retention
    • 2. Sharing commissions
      • 3. Premiums
        • 4. Reporting and accounting for premiums
          • 5. Unfair and deceptive practices
            • 6. Controlled business
              - Licensing
              • 1. Persons required to be licensed
                • 2. Denial, suspension, and revocation of licenses
                  • 3. General qualifications for licensing
                    • 4. Renewal of license and continuing education
                      - Insurance Commissioner
                      • 1. Notice of hearings
                        • 2. Penalties
                          • 3. General powers and duties
                            • 4. Examination of records
                              - Guaranty associations
                              - Definitions
                              • 1. Domestic, foreign, and alien
                                • 2. Certificate of authority
                                  • 3. Insurance
                                    • 4. Authorized and unauthorized
                                      • 5. Stock, reciprocal, and mutual
                                        Retirement and Other Life Insurance Concepts8%- Tax treatment of insurance premiums, proceeds, and dividends
                                        - Group life insurance
                                        • 1. Conversion privilege
                                          • 2. Contributory vs. noncontributory
                                            - Life insurance needs analysis and suitability
                                            • 1. Business insurance needs
                                              • 2. Personal insurance needs
                                                - Retirement plans
                                                • 1. Qualified plans
                                                  • 2. Nonqualified plans
                                                    - Social Security benefits
                                                    - Third-party ownership
                                                    - Life settlements
                                                    Completing the Application, Underwriting, and Delivering the Policies12%- Underwriting
                                                    • 1. Risk classification
                                                      • 2. Medical information and consumer reports
                                                        • 3. Insurable interest
                                                          • 4. Stranger/investor-owned life insurance
                                                            • 5. Fair Credit Reporting Act
                                                              - Delivering the policy
                                                              • 1. Explaining the policy, provisions, riders, exclusions, and ratings to the client
                                                                • 2. When coverage begins
                                                                  - Completing the application
                                                                  • 1. Warranties and representations
                                                                    • 2. USA PATRIOT Act and anti-money laundering
                                                                      • 3. Required signatures
                                                                        • 4. Disclosures at point of sale
                                                                          • 5. Gramm-Leach-Bliley Act privacy
                                                                            • 6. Consequences of incomplete applications
                                                                              • 7. Changes in the application
                                                                                • 8. Collecting the initial premium and issuing the receipt
                                                                                  • 9. Replacement
                                                                                    - Contract law
                                                                                    • 1. Elements of a contract
                                                                                      • 2. Unique aspects of the insurance contract
                                                                                        Types of Policies15%- Term life
                                                                                        • 1. Types
                                                                                          • Level
                                                                                          • Decreasing
                                                                                          • Return of premium
                                                                                          • Annually renewable
                                                                                        • 2. Special features
                                                                                          • Renewable
                                                                                          • Convertible
                                                                                        - Interest/market-sensitive/adjustable life products
                                                                                        • 1. Variable universal life
                                                                                          • 2. Interest-sensitive whole life
                                                                                            • 3. Indexed life
                                                                                              • 4. Variable whole life
                                                                                                • 5. Universal life
                                                                                                  - Annuities
                                                                                                  • 1. Payout options
                                                                                                    • 2. Indexed
                                                                                                      • 3. Accumulation and annuity periods
                                                                                                        • 4. Fixed and variable
                                                                                                          • 5. Single and flexible premium
                                                                                                            • 6. Immediate and deferred
                                                                                                              - Traditional whole life products
                                                                                                              • 1. Ordinary whole life
                                                                                                                • 2. Limited-pay and single-premium life
                                                                                                                  - Combination plans and variations
                                                                                                                  • 1. Survivorship life
                                                                                                                    • 2. Joint life
                                                                                                                      Life Provisions, Riders, Options, and Exclusions15%- Policy riders
                                                                                                                      • 1. Other insureds
                                                                                                                        • 2. Disability
                                                                                                                          • 3. Waiver of premium and waiver of monthly deduction
                                                                                                                            • 4. Term riders
                                                                                                                              • 5. Long term care
                                                                                                                                • 6. Cost of Living
                                                                                                                                  • 7. Guaranteed insurability
                                                                                                                                    • 8. Return of premium
                                                                                                                                      • 9. Payor benefit
                                                                                                                                        • 10. Accidental death and/or accidental death and dismemberment
                                                                                                                                          - Policy exclusions
                                                                                                                                          • 1. War
                                                                                                                                            • 2. Aviation
                                                                                                                                              • 3. Dangerous occupation
                                                                                                                                                - Policy provisions and options
                                                                                                                                                • 1. Suicide
                                                                                                                                                  • 2. Consideration
                                                                                                                                                    • 3. Premium payment
                                                                                                                                                      • 4. Non-forfeiture options
                                                                                                                                                        • 5. Settlement options
                                                                                                                                                          • 6. Beneficiary designations
                                                                                                                                                            • 7. Accelerated death benefits
                                                                                                                                                              • 8. Free look
                                                                                                                                                                • 9. Incontestability
                                                                                                                                                                  • 10. Dividends and dividend options
                                                                                                                                                                    • 11. Assignments
                                                                                                                                                                      • 12. Policy loans, withdrawals, and partial surrenders
                                                                                                                                                                        • 13. Reinstatement
                                                                                                                                                                          • 14. Owner's rights
                                                                                                                                                                            • 15. Insuring clause
                                                                                                                                                                              • 16. Misstatement of age and gender
                                                                                                                                                                                • 17. Entire contract
                                                                                                                                                                                  Hawaii Laws and Rules Pertinent to Life Insurance Only12%- Variable contracts
                                                                                                                                                                                  - Credit life
                                                                                                                                                                                  - Group life
                                                                                                                                                                                  • 1. Conversion
                                                                                                                                                                                    • 2. Assignment of proceeds
                                                                                                                                                                                      • 3. Group requirements
                                                                                                                                                                                        - Policy clauses and provisions
                                                                                                                                                                                        • 1. Protection of beneficiaries from creditors
                                                                                                                                                                                          • 2. Policy loan interest rate
                                                                                                                                                                                            • 3. Spouse's rights
                                                                                                                                                                                              - Participation in surplus
                                                                                                                                                                                              - Marketing methods and practices
                                                                                                                                                                                              • 1. Annuities
                                                                                                                                                                                                • Disclosure
                                                                                                                                                                                                • Suitability
                                                                                                                                                                                              • 2. Replacement
                                                                                                                                                                                                • Definition
                                                                                                                                                                                                • Duties of producers
                                                                                                                                                                                                • Duties of insurers that use producers
                                                                                                                                                                                                • Duties of replacing insurers that use producers
                                                                                                                                                                                                • Duties of the existing insurer

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

                                                                                                                                                                                              Question 1

                                                                                                                                                                                              An insurance agency that runs a radio commercial stating that a producer is an expert in a particular field of insurance, when, in fact, the producer does not hold a license in that field, is guilty of:

                                                                                                                                                                                              A. defamation
                                                                                                                                                                                              B. twisting
                                                                                                                                                                                              C. false advertising
                                                                                                                                                                                              D. misrepresentation of coverage


                                                                                                                                                                                              Question 2

                                                                                                                                                                                              Except when a statutory exception applies, Hawaii generally prohibits entering into a life settlement contract during what period following issuance of the life insurance policy?

                                                                                                                                                                                              A. 1 year
                                                                                                                                                                                              B. 5 years
                                                                                                                                                                                              C. 2 years
                                                                                                                                                                                              D. 6 months


                                                                                                                                                                                              Question 3

                                                                                                                                                                                              An employee's coverage under a Hawaii group life insurance policy terminates when the employee leaves employment. To exercise the statutory conversion privilege, the employee is entitled to obtain an individual life policy:

                                                                                                                                                                                              A. only if the former employer pays the first premium
                                                                                                                                                                                              B. only after providing new evidence of insurability
                                                                                                                                                                                              C. without evidence of insurability
                                                                                                                                                                                              D. only after completing a new medical examination


                                                                                                                                                                                              Question 4

                                                                                                                                                                                              In Hawaii, an applicant for a resident producer's license MUST meet which of the following requirements?

                                                                                                                                                                                              A. Hold a CPCU or CLU designation
                                                                                                                                                                                              B. Be at least eighteen years of age
                                                                                                                                                                                              C. Have a minimum of one year of college education
                                                                                                                                                                                              D. Be at least twenty-one years of age


                                                                                                                                                                                              Question 5

                                                                                                                                                                                              An individual purchases a life insurance policy delivered in Hawaii. After reviewing the contract, the purchaser decides that the coverage does not meet their needs. Under Hawaii law, within how many days after receiving the policy may the purchaser return it for a refund of premium?

                                                                                                                                                                                              A. 5 days
                                                                                                                                                                                              B. 15 days
                                                                                                                                                                                              C. 10 days
                                                                                                                                                                                              D. 30 days


                                                                                                                                                                                              Solutions:

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

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