Free Types of Life Insurance Policies Practice Questions
Hawaii Life, Accident & Health exam — 70 practice questions.
Subtopics: Variable products license, Variable contracts, Separate accounts, Variable death benefit, Variable contract regulation, Group dependents, Group life eligibility, Group life amounts, Association groups, Group life requirements, Credit life amount, Credit insurance term, Choice of credit insurer, Credit life scope, Credit life forms, Credit claims, Term life, Whole life, Universal life, Indexed life, Variable life, Variable universal life, Group life, Specialized policies, Annual renewable term, Return of premium term, Increasing term, Modified whole life, Limited-pay life, Joint life, Universal life Option A, Universal life target premium, Universal life interest crediting, Variable life prospectus, Variable products licensing, Interest-sensitive whole life, Endowment policy, Family income policy, Adjustable life, Industrial life, Credit life, Multiple protection, Fraternal and other
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Sample questions & answers
1. In Hawaii, a producer who sells variable life insurance or variable annuities must be licensed in which line of authority?
Variable life and variable annuity products
Sale, solicitation, or negotiation of variable life and variable annuity products requires licensing in the variable life and variable annuity products line of authority.
2. A variable life or variable annuity contract delivered in Hawaii must state on its first page that:
Its benefits are on a variable basis
Variable contracts must state that the dollar amount will vary with investment experience and carry a first-page statement that benefits are on a variable basis.
3. Income, gains, and losses on assets a Hawaii life insurer allocates to a separate account for variable contracts are:
Credited or charged to that account alone
Separate account income, gains, and losses are credited to or charged against the account without regard to the company's other income, gains, or losses.
4. A Hawaii variable annuity may include, as an incidental benefit, a death benefit during the deferral period of up to the greater of:
Premiums paid or the contract value at death
Variable contracts may include a deferred-period death benefit not exceeding the greater of the premiums or payments made or the contract value at death.
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Practice: Types of Life Insurance Policies
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
