6 to go!
On Friday, I passed my second CPCU exam. I took CPCU 520 – Insurance Operations. The book was huge and had 11 chapters. Some of which were ridiculously long. Underwriting functions, ratemaking, actuarial function…lots of stuff that I don’t deal with on a daily basis.
When I ordered this book back in the early fall, I mapped out a study schedule. One chapter per week, with the final week leading up to the test earmarked for review.
Well, they always say the road to hell is paved with good intentions, right? LOL! Nothing about that schedule panned out, and I found myself doing 3 weeks of cramming. Nothing like trying to study while your hubby is yelling at the Knicks game, with the tv volume/surround sound on 79!
Despite my nerves, I managed to pass. I am just not cut out for cramming. No matter how much coffee is involved.
There are four foundation courses for the CPCU designation:
- CPCU 500—Foundations of Risk Management and Insurance (This course is replacing CPCU 510)
- CPCU 520—Insurance Operations
- CPCU 530—Business Law for Insurance Professionals
- CPCU 540—Finance and Accounting for Insurance Professionals
I’ve knocked out the first two, and will move on to business law next. You can take them in any order you wish, but I think I’ll just knock out the foundation courses first.
Next, you can choose a concentration in personal lines or commercial lines. I’m going with commercial lines, so I’ll have to take these three:
Commercial Lines Concentration Courses
- CPCU 551—Commercial Property Risk Management
- CPCU 552—Commercial Liability Risk Management and Insurance
- CPCU 553—Survey of Personal Insurance and Financial Planning
After that, I can pick one elective class from a list of 9. I think I’m going to go with AIC 32 – Liability Claims Practices.
Once I successfully complete the designation, I will receive a 10% bonus from my employer. Not to mention, they pay for the course materials and the test. There’s no reason for me to not do it. It’ll help me in the long run with my industry knowledge.
Does your industry offer professional designations? Do you plan to pursue any or further your education using company resources?