These points were made yesterday during testimony by businessman Albert A. Hakim and Washington attorney David Lewis:

ON THE 1986 CONGRESSIONAL ELECTIONS:

Hakim testified that National Security Council aide Oliver L. North said during secret negotiations with Iranian officials in October 1986 that he "wanted to gain the release of the hostages to enhance the position of the president" before the November elections. Hakim said he had told North to "low-key" the issue and emphasize instead a long-term relationship with a new group of Iranians with whom they were negotiating in Frankfurt. The administration has said its overtures to Iran were long-term in nature. Two days before last November's election hostage David P. Jacobsen was freed.

ON THE HOSTAGE RELEASE PLAN:

Hakim, a business partner of retired Air Force major general Richard V. Secord, told of a nine-point arms-for-hostages plan he negotiated last year that called for the United States to sell 500 TOW missiles to Iran in exchange for that country's efforts to free one or possibly two American hostages held by pro-Iran factions in Beirut. The Iranian-born U.S. citizen said the plan was approved by both the United States and Iran and included the possibility that there would be U.S. efforts to free Moslem prisoners in Kuwait and southern Lebanon.

ON NORTH'S FUNDS:

Lewis testified that he was approached by Hakim's financial manager Willard Zucker to find a way to get $200,000 to North's wife Betsy if something happened to North. Hakim, who revealed Wednesday that he had used $200,000 of the profits from arms sales to Iran to set up a special account as a "death benefit" for North's family. Hakim said he never told North about the account, which was code-named "Button," which he said was not a payoff to a U.S. government official. Lewis said he was to find a way to secretly get the funds to North's wife "because of his {North's} sensitive position" as a White House aide. Hakim said he set up the account because he was fond of North and respected his love of country and associates.