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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Life-General Knowledge | ~59% | - Life Insurance Concepts and Application
|
| Topic 2: Hawaii Insurance Laws, Rules, and Regulations | ~41% | - Hawaii Common Insurance Law
|
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NEW QUESTION # 90
Unless the person entitled to the funds directs otherwise in writing, a Hawaii insurance producer holding return premium funds must return those funds within:
Answer: B
Explanation:
C). 30 days is correct. Hawai#i imposes fiduciary responsibilities on producers who receive premium and return-premium funds. HRS 431:9A-123.5 provides that every licensed producer acts in a trustee capacity with respect to these funds. The producer must either remit the funds to the insurer or person entitled to receive them or maintain them in an appropriate federally insured account located in Hawai#i, separate from the producer's personal funds.
The statute specifically states that return premiums must be returned within thirty days unless the person entitled to those funds directs otherwise in writing .
This requirement is closely related to the prohibition against commingling. Premiums belong to the insurer or policyholder, depending on the circumstances; they are not the producer's personal assets. A producer who treats fiduciary funds as personal money can face significant licensing and disciplinary consequences.
Ten and twenty days are not the statutory time period. Sixty days would improperly delay the return of money belonging to the policyholder or other entitled party.
Reference topics: HRS 431:9A-123.5; Fiduciary Responsibility; Premium Accounting; Return Premiums; Commingling.
NEW QUESTION # 91
Producers may engage in all of the following activities EXCEPT:
Answer: C
Explanation:
C). countersigning contracts is correct. Hawai#i's producer licensing statutes define an insurance producer as a person required to be licensed to sell, solicit, or negotiate insurance . Those three activities form the core statutory functions of an insurance producer. Hawai#i law likewise prohibits a person from selling, soliciting, or negotiating insurance in the State without the appropriate producer license and line of authority.
Each of the other choices corresponds directly to those statutory functions. Solicitation includes attempting to sell insurance or encouraging a person to apply for a particular form of insurance. Selling concerns exchanging an insurance contract for money or equivalent consideration on behalf of an insurer. Negotiation involves communicating directly with a prospective purchaser regarding substantive benefits, terms, or conditions of a particular insurance contract.
Countersigning contracts , however, is not one of the three fundamental activities defining insurance- producer authority. A producer's license also does not, by itself, create unrestricted actual, apparent, or inherent authority to commit an insurer contractually. Any authority to bind or execute documents must arise from the insurer's appointment or separate contractual authority.
Therefore, C is the only listed activity that is not part of the statutory sell-solicit-negotiate definition.
Reference topics: HRS Article 9A; Insurance Producer Definition; Sell, Solicit and Negotiate; Scope of Producer Authority.
NEW QUESTION # 92
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?
Answer: A
Explanation:
B). 10 days is correct. Hawai#i requires an individual life insurance policy delivered in the State to contain a notice informing the purchaser of the right to examine and return the policy if dissatisfied. Under HRS 431:
10-214, the purchaser may return the policy within ten days after receipt and obtain a refund of the premium, subject to the applicable statutory provisions. When properly returned during this period, the policy is treated essentially as though it had not been issued. Hawai#i legislative text expressly requires this right-to- return notice to appear on or be attached to an individual life policy.
The Hawai#i Insurance Division provides the same consumer guidance: after purchasing life insurance, consumers should read the contract carefully and may return the policy within ten days of receiving it if they change their minds.
This ordinary free-look period should not be confused with special periods applicable to certain transactions.
For example, replacement transactions carry a longer thirty-day return period. Likewise, particular annuity disclosure rules may provide separate protections.
Reference topics: HRS 431:10-214; Free Look; Policy Delivery; Consumer Rights; Hawai#i Life-General Knowledge Content Outline.
NEW QUESTION # 93
Survivorship life insurance is typically purchased for:
Answer: C
Explanation:
C). estate planning purposes is correct. Survivorship life insurance-commonly called second-to-die life insurance -insures two individuals under one contract but pays the death benefit only after the second insured dies . This structure makes it particularly suited to estate planning and wealth-transfer objectives.
The official 2026 Hawai#i Life-General Knowledge examination outline expressly identifies "Survivorship life (second to die)" as a tested combination plan and policy variation. Its structure is fundamentally different from joint first-to-die insurance: because no death benefit is normally payable after the first insured's death, the policy is designed to provide liquidity when the second death eventually occurs. This can support estate obligations, preservation of assets for heirs, charitable planning, or other intergenerational transfer strategies.
Option B is less appropriate. Buy/sell agreements typically require insurance proceeds when a specific business owner dies so the surviving owner or business can purchase the deceased owner's interest; policies that pay at the first death are therefore generally more suitable. First-time insurance buyers do not constitute the defining market for survivorship coverage, and there is no characteristic limitation to death benefits below
$50,000. Survivorship policies are frequently associated with substantial estate-planning needs.
Reference topics: Combination Plans and Variations; Survivorship Life/Second-to-Die; Joint Life; Business and Estate Uses of Life Insurance.
NEW QUESTION # 94
The number of continuing education credit hours that a Life and/or Accident and Health Producer must complete to have their license renewed is:
Answer: D
Explanation:
D). 24 credit hours is correct under current Hawai#i law. HRS 431:9A-124 establishes the continuing education requirements that must be satisfied before an insurance producer license is renewed. For a licensee authorized in the Life or Accident and Health or Sickness group, the required total is 24 continuing education credit hours during the applicable renewal cycle. Of these, 21 hours must relate to the line of authority for which the producer is licensed, while three hours must concern ethics training or Hawai#i insurance laws and rules.
Hawai#i applies the same overall 24-hour total to a producer licensed in both major line groups, although the allocation changes: ten hours relate to Life/Accident and Health or Sickness, eleven relate to Property
/Casualty-related lines, and three concern ethics or insurance laws and rules.
The statute also specifies that excess hours ordinarily cannot simply be carried over into another two-year renewal cycle. A producer who fails to complete the CE requirement by the renewal date, absent an approved extension, may have the license automatically placed on inactive status.
Therefore, 18, 20, and 22 hours are below Hawai#i's statutory renewal requirement.
Reference topics: HRS 431:9A-124; Continuing Education; License Renewal; Ethics and Insurance Law Training.
NEW QUESTION # 95
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