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Hawaii-Life-Producer Hawaii Life Producer Exam (InsHI_Life01 OPLife01) is now Stable and With Pass Result | Test Your Knowledge for Free

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Hawaii-Life-Producer Practice Questions

Hawaii Life Producer Exam (InsHI_Life01 OPLife01)

Last Update 6 days ago
Total Questions : 117

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Question # 1

An insured lapsed a Life insurance policy one year ago and now wants to reestablish this coverage. The policy may be placed in force under the:

Options:

A.  

Renewability clause

B.  

Consideration clause

C.  

Reinstatement provision

D.  

Grace Period provision

Discussion 0
Question # 2

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

Options:

A.  

18

B.  

20

C.  

22

D.  

24

Discussion 0
Question # 3

A Hawaii life insurance policy has an adjustable policy-loan interest rate. If the insurer intends to increase the rate being charged on an existing policy loan, the insurer must:

Options:

A.  

obtain approval from the beneficiary

B.  

send the policyholder reasonable advance notice

C.  

wait until the insured's next medical examination

D.  

obtain the producer's written authorization

Discussion 0
Question # 4

Employing any method of marketing having the effect of or tending to induce the purchase of insurance through fright or threat, whether explicit or implied, is an example of:

Options:

A.  

rebating

B.  

twisting

C.  

cold lead advertising

D.  

coercion

Discussion 0
Question # 5

A beneficiary receives a $300,000 lump-sum life insurance death benefit from a policy that was not transferred for value. Under the general federal income-tax rule, the $300,000 death benefit is:

Options:

A.  

fully taxable as ordinary income

B.  

generally excluded from gross income

C.  

taxable only if the beneficiary is not related to the insured

D.  

subject to capital gains tax

Discussion 0
Question # 6

Before an insurance company may deliver variable life insurance or variable annuity contracts in Hawaii, the company must be licensed or organized to conduct:

Options:

A.  

Property insurance business

B.  

Casualty insurance business

C.  

Life insurance or annuity business

D.  

Title insurance business

Discussion 0
Question # 7

In a Hawaii variable life insurance contract, investment gains and losses attributable to assets held in a separate account are:

Options:

A.  

combined with all gains and losses from the insurer's general account

B.  

credited to or charged against the separate account independently of the insurer's other investment results

C.  

guaranteed by the Insurance Commissioner

D.  

credited only when the policy is surrendered

Discussion 0
Question # 8

Unless its cash surrender value has already been paid, an individual annuity subject to Hawaii's standard provisions may generally be reinstated within how long after default in stipulated payments?

Options:

A.  

6 months

B.  

1 year

C.  

2 years

D.  

3 years

Discussion 0
Question # 9

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?

Options:

A.  

5 days

B.  

10 days

C.  

15 days

D.  

30 days

Discussion 0
Question # 10

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?

Options:

A.  

6 months

B.  

1 year

C.  

2 years

D.  

5 years

Discussion 0
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