Insurance Licensing Hawaii Life Producer Exam (InsHI_Life01 OPLife01) (Hawaii-Life-Producer) Free Practice Test
Question 1
R is insured under a $25,000 Whole Life policy with an Accidental Death Benefit rider. If R dies as the result of a heart attack while driving to work, R's beneficiary will receive a maximum of which of the following amounts?
Correct Answer: B
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Question 2
An individual life insurance policy delivered in Hawaii must generally provide a grace period of:
Correct Answer: D
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Question 3
An insured under a life settlement transaction has a life expectancy of MORE than one year. A life settlement provider, broker, or authorized representative may generally contact the insured to verify health status no more frequently than:
Correct Answer: B
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Question 4
A Hawaii policyowner whose annual report does not include an in-force illustration requests a current illustration from the insurer. If the policyowner does not receive the illustration within how many days, the required notice advises the policyowner to contact the state insurance department?
Correct Answer: D
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Question 5
S works for a domestic insurance company as vice president of marketing. S is paid a salary, earns no money from commissions, and spends the majority of all working time in the home office. In this situation, which of the following statements about S is CORRECT?
Correct Answer: A
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Question 6
When a new life insurance policy is issued as a replacement for an existing policy, Hawaii law requires the replacing insurer to provide the policyowner with the right to return the new policy within:
Correct Answer: D
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Question 7
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:
Correct Answer: A
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