Free practice exam · no signup needed

Hawaii Property Practice Exam

20 exam-style questions drawn from the same bank as our full Hawaii Property course (Hawaii Insurance Producer - Property - Exam Prep). Answer all 20, then grade yourself — most state exams require 70% to pass. Explanations for every question are part of the full course.

1. The National Flood Insurance Program (NFIP) is administered by which federal agency?
The Department of Housing and Urban Development (HUD)The Federal Emergency Management Agency (FEMA)The Federal Deposit Insurance Corporation (FDIC)The Small Business Administration (SBA)
2. Under a replacement cost policy for a dwelling, an insured has a $20,000 loss. The insurer initially pays how much, and under what condition will the depreciation holdback be released?
Nothing until repairs are fully complete — applicable to surplus-lines placements, which the scenario explicitly excludesACV initially; the depreciation holdback is released once the insured actually repairs or replaces the damaged property.ACV initially; the holdback is released once the insured files proof of loss.Full replacement cost immediately; no conditions apply.
3. An applicant completes an online quote, accepts the carrier's premium of $1,842, and submits payment. The carrier's system issues a binder receipt referencing policy form HO-3. Which contract element is satisfied by the carrier's issuance of the binder?
Acceptance of the applicant's offerCompetent partiesConsideration flowing from the insurerLegal purpose of the agreement
4. Which section is the principal Hawaii disciplinary provision for producer licences?
431:16-108431:9A-112431:13-201431:9A-124
5. The ISO Building and Personal Property Coverage Form (CP 00 10) provides three coverage options. Which of the following is NOT one of them?
Coverage B — Your Business Personal PropertyCoverage A — BuildingCoverage D — Loss of IncomeCoverage C — Personal Property of Others
6. Builders Risk coverage typically insures what?
A structure while under construction, including materials and supplies at the siteA contractor's personal auto fleet, including pickups, trailers, and service vehicles used to transport workers and tools to active job sitesA homeowner's personal belongings during a move, including furniture, appliances, and household goods in transit between two residencesThe completed building for 12 months after the certificate of occupancy is issued, bridging the gap until permanent property coverage takes effect
7. A homeowners policy lists Coverage A at $300,000 and provides Coverage B (other structures) with no scheduled limit. What is the Coverage B limit?
$30,000 — 10% of Coverage A$60,000 — 20% of Coverage A$300,000 — equal to Coverage A$150,000 — 50% of Coverage A
8. An insured suffers a partial loss to a 10-year-old roof with a 25-year useful life. RC of the roof is $20,000. What is the depreciated ACV?
$8,000$5,000$12,000$20,000
9. Which distinction separates the two Hawaii statutory property backstops?
One covers dwellings and the other commercial buildingsOne writes basic property insurance, the other hurricane coverOne is state-run and the other is federally administeredOne covers total losses and the other partial losses only
10. An 'appraisal' clause in a homeowners or property policy is invoked when:
The insured and insurer agree coverage applies but disagree on the amount of lossThe named insured wants to sell the insured property and needs a third-party valuation of the structure, an exercise unrelated to claim-handling under the policyThe mortgagee disputes ownership of the insured property with the named insured, a title dispute resolved in court rather than under the appraisal clauseThe insurer denies coverage entirely on the ground that no covered peril caused the loss — a coverage dispute that goes to court rather than appraisal
11. A jeweler wants coverage for jewelry the store owns and for customer-owned jewelry being repaired. Which inland marine form fits best?
Motor Truck Cargo FormBuilders Risk FormJewelers Block PolicyPersonal Articles Form (PAF)
12. On Monday a client buys a house in a non-mandatory flood zone and asks you to bind a new NFIP policy that day because a tropical storm is forecast to make landfall on Friday. The purchase is NOT tied to a mortgage closing. When will coverage be effective?
Immediately, because flood coverage binds at application30 days after the application and presentment of premiumOne day after application, because the property is newly mappedAt 12:01 a.m. the day after the application is signed
13. How does a 'stated amount' valuation differ from an 'agreed value' valuation?
Agreed value pays only if the insured meets coinsurance; stated amount never requires coinsurance — under the older rule that was superseded by the post-2018 model amendmentsBoth pay the face amount at total loss without adjustment — applicable to surplus-lines placements, which the scenario explicitly excludesStated amount applies only to commercial property; agreed value applies only to personal lines — applies if the loss is partial; this question describes a constructive total lossStated amount is the maximum the insurer will pay, but the actual recovery is the lesser of ACV, cost to repair, or the stated amount; agreed value pays the agreed figure at total loss without ACV reduction.
14. A homeowner with an HO-3 carrying 80% of replacement cost suffers a partial fire loss. The dwelling claim is paid on what basis?
Actual cash value — under the older rule that was superseded by the post-2018 model amendmentsFunctional replacement cost — only when the contract was issued before the regulatory amendment described aboveReplacement cost without depreciation deductionMarket value — applies if the loss is partial; this question describes a constructive total loss
15. The Nationwide Marine Definition divides inland marine into how many broad classes?
EightSixFourTwo
16. Insurance contracts are 'unilateral.' What does this mean?
Both parties make equally enforceable promises — required if and only if the policy includes a co-insurance penalty endorsementOnly the insurer makes an enforceable promise; the insured can stop paying at any time without breaching.Only the insured makes an enforceable promise — applicable to surplus-lines placements, which the scenario explicitly excludesNeither party is bound until a loss occurs — under the older rule that was superseded by the post-2018 model amendments
17. A licensee holds licences in BOTH insurance groups. How many total hours are owed each cycle?
24, but with 6 ethics hours instead of the usual 348, being 24 credit hours for each of the groups24, split 10 and 11 by group plus 3 of ethics36, being 24 plus a further 12 for the second group
18. A homeowner and her insurer agree that a hailstorm (a covered peril) damaged the roof but disagree sharply on the repair cost. The insurer demands appraisal. The insured's appraiser says $32,000; the insurer's appraiser says $14,000; the umpire says $25,000. What is the binding amount of loss?
$14,000 — the lowest figure always controls — applies if the loss is partial; this question describes a constructive total loss, under the broader consumer-protection construction sometimes applied here$23,000 — the average of the three figures, consistent with the model regulation but inapplicable to this scenario — applicable to commercial scenarios only, not the personal-lines contextThe dispute must be sent to court because the appraisers disagreed — though only when the underlying contract contains an explicit waiver, which the scenario doesn't establish$25,000 — agreement of any two of the three (insured's appraiser + umpire, insurer's appraiser + umpire, or both appraisers) binds the parties; here the umpire's figure is the one any two can agree to.
19. Under the CGL, which of the following is CORRECTLY described as an 'occurrence'?
Any claim made against the insured during the policy period, regardless of when the underlying injury or property damage actually took placeA specific peril named in the declarations and listed among the covered causes of loss on the commercial property coverage part of the policyAn accident, including continuous or repeated exposure to substantially the same general harmful conditions, not expected or intended by the insuredA single deliberate act of battery by the insured, provided the insured did not intend the specific bodily injury that resulted from the contact
20. After a total fire loss, an insured receives a check marked 'payable to John Smith and First National Bank.' This is an example of what claims-handling concept?
Cancellation — applies if the loss is partial; this question describes a constructive total lossSubrogation — only when the contract was issued before the regulatory amendment described aboveAbandonment, under the broader consumer-protection construction sometimes applied hereLoss-payable (two-name) check / joint-payee settlement.

Want a different set? Refresh the page for 20 new questions — the full course has 500+, each with a complete explanation, plus full-length timed exam simulations and an AI tutor.