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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Hawaii Laws and Rules Pertinent to Life Insurance Only | 12% | - Variable contracts - Policy clauses and provisions
- Participation in surplus - Marketing methods and practices
|
| Topic 2: Types of Policies | 15% | - Interest/market-sensitive/adjustable life products
|
| Topic 3: Retirement and Other Life Insurance Concepts | 8% | - Tax treatment of insurance premiums, proceeds, and dividends - Social Security benefits - Group life insurance
- Life settlements - Life insurance needs analysis and suitability
|
| Topic 4: Hawaii Laws and Rules Common to Life, Accident and Health, Property, Casualty and Personal Lines Insurance | 23% | - Guaranty associations - Definitions
|
| Topic 5: Life Provisions, Riders, Options, and Exclusions | 15% | - Policy exclusions
|
| Topic 6: Completing the Application, Underwriting, and Delivering the Policies | 12% | - Underwriting
|
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NEW QUESTION # 49
If the insured commits suicide during the first policy year, the insurer will:
Answer: A
Explanation:
C is the correct producer-examination answer. A standard life insurance suicide provision permits the insurer to exclude payment of the policy's death benefit when the insured dies by suicide during the specified initial exclusion period. Instead of paying the face amount, the insurer generally refunds the premiums paid under the policy.
This is directly relevant under Hawai#i law. HRS 431:10D-108 permits a life insurance policy delivered in Hawai#i to restrict coverage for death occurring within two years from the policy's date of issue as a result of suicide , whether the insured was sane or insane, subject to Hawai#i's statutory treatment of qualifying medical aid in dying. The official 2026 Hawai#i Life-General Knowledge outline also specifically lists
"Suicide" among tested life-policy provisions.
Because the question specifies suicide during the first policy year , the death falls within the permissible two- year exclusion period. Option A incorrectly assumes the ordinary face amount remains payable. Option B has no basis in the standard suicide provision. Option D is also incorrect because the standard examination treatment is a return of premiums rather than a refund reduced by the insurer's operating expenses.
Reference topics: Suicide Provision; Limitations of Liability; HRS 431:10D-108; Policy Exclusions.
NEW QUESTION # 50
Records supporting an annuity recommendation, including consumer information and disclosures, must generally be maintained or made available to the Hawaii Insurance Commissioner for how long after the insurance transaction is completed?
Answer: B
Explanation:
C). 5 years is correct. Hawai#i's annuity best-interest framework contains a specific recordkeeping requirement. Under HRS 431:10D-625, insurers, managing general agents, independent agencies, and producers must maintain-or make available to the Insurance Commissioner-records relating to the consumer information gathered, disclosures provided, summaries of oral disclosures, and other information forming the basis for an annuity recommendation. These records must be available for five years after the insurance transaction has been completed by the insurer .
The insurer may maintain documentation on the producer's behalf, but that does not eliminate the underlying compliance obligation. Documentation is critical because Hawai#i's annuity rules require producers to make recommendations based on the consumer's financial situation, insurance needs, objectives, liquidity requirements, risk tolerance, and other relevant profile information.
Options A and B are too short to satisfy the statutory annuity recordkeeping period. Ten years exceeds the required period.
This rule should also be distinguished from other Hawai#i insurance record-retention requirements, since different records-such as general producer transactions, illustrations, or replacement documentation-may be governed by different provisions.
Reference topics: HRS 431:10D-625; Annuity Recordkeeping; Best-Interest Standard; Consumer Profile Information.
NEW QUESTION # 51
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:
Answer: A
Explanation:
B). without evidence of insurability is correct. Hawai#i's required group life provisions protect an insured whose coverage terminates because employment or membership in an eligible class ends. Under HRS 431:
10D-213, the terminating insured is entitled to obtain an individual life insurance policy without evidence of insurability , subject to the conversion conditions in the group contract. The individual must apply for the converted policy and pay the first premium within the statutory conversion period.
This privilege is valuable because termination of employment may occur after the insured's health has deteriorated. If the insurer were permitted to require fresh medical underwriting, the individual might become uninsurable precisely when continuity of protection is most important.
The converted policy generally does not include disability or other supplementary benefits automatically, and the premium is determined using the insurer's customary rate for the form, amount, risk classification, and the insured's attained age when the individual policy becomes effective.
Options A and D contradict the statutory waiver of evidence of insurability. Option C is also incorrect because the converting individual, not the former employer, is responsible for satisfying the first-premium requirement.
Reference topics: HRS 431:10D-213; Group Life Conversion; Termination of Eligibility; Evidence of Insurability. The 2026 Hawai#i outline tests group life and policy conversion concepts.
NEW QUESTION # 52
A person was licensed for Life insurance in another state but recently cancelled that resident license while in good standing. To qualify for Hawaii's examination exemption for the same line of authority, the person's applicable resident producer application generally must be received within:
Answer: B
Explanation:
C). 90 days is correct. Hawai#i recognizes an examination exemption for qualifying applicants who were previously licensed for the same line of authority in another state. The exemption prevents an experienced, properly licensed producer from unnecessarily repeating prelicensing education and examination requirements when moving licensing jurisdiction under qualifying circumstances.
HRS 431:9A-109 provides that the exemption is available when the applicant is currently appropriately licensed in the other state or, for the applicable resident-license situation, when the Hawai#i application is received within ninety days after cancellation of the applicant's previous resident license , provided the prior licensing record establishes that the applicant was in good standing for the requested line of authority.
The Hawai#i Insurance Division's current examination information similarly explains the ninety-day provision and recognizes NAIC producer-database records or appropriate certification as evidence of good standing.
The exemption concerns the examination requirement ; it does not eliminate other application, fee, background, qualification, or licensing requirements imposed by Hawai#i.
Reference topics: HRS 431:9A-109; Examination Exemption; Resident Producer Licensing; Reciprocity and Good Standing.
NEW QUESTION # 53
After receiving a notice that an insurer has appointed a producer, the Hawaii Insurance Commissioner must verify the producer's eligibility within a reasonable time not exceeding:
Answer: C
Explanation:
C). 30 days is correct. Hawai#i law establishes two different time periods within the appointment process, and producers should distinguish them carefully. First, the insurer generally files the appointment notice within 15 days after the applicable triggering event. After receiving that notice, the Insurance Commissioner must verify that the producer is eligible for appointment within a reasonable period that may not exceed thirty days .
If the Commissioner determines that the producer is ineligible for appointment, Hawai#i law further requires notice to the appointing insurer within five days of that determination. Consequently, three separate timing concepts can appear in examination questions: fifteen days for filing the appointment, up to thirty days for the Commissioner's eligibility verification, and five days for notification after an ineligibility determination.
The eligibility review helps ensure that a producer has a valid license, possesses the necessary line of authority, and is not otherwise prohibited from acting as the insurer's appointed agent. An insurer appointment cannot cure an underlying licensing deficiency.
Options A and B shorten the statutory verification period, while sixty days exceeds the maximum time permitted.
Reference topics: HRS 431:9A-114; Producer Eligibility; Appointment Verification; Insurance Commissioner Responsibilities.
NEW QUESTION # 54
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