26 • CPCU Professional Designation Program

The Institutes: (800) 644-2101 • www.aicpcu.org • customersupport@cpcuiia.org

Chartered Property Casualty Underwriter (CPCU) Professional Designation

Set yourself apart. More than 60,000 people have earned the CPCU professional designation. They are claim adjusters, underwriters, risk managers,
brokers, agents, regulators, consultants, attorneys, and educators. CPCU is respected as the premier designation in property-casualty insurance,
and holding this designation immediately identifies you as a knowledgeable and dedicated professional.

Gain the Skills You Need to Succeed. The CPCU program is better than ever. CPCU Program*
The program Foundation Courses
• Focuses on the legal, financial, and operational aspects of risk CPCU 510 Foundations of Risk Management, Insurance, and Professionalism
management and insurance, as well as on financial services. CPCU 520 Insurance Operations, Regulation, and Statutory Accounting
• Reflects the current business environment. CPCU 530 The Legal Environment of Insurance
• Provides a broad understanding of property-casualty insurance. CPCU 540 Finance for Risk Management and Insurance Professionals
CPCU 560 Financial Services Institutions
Enjoy the Benefits of Being a CPCU.
Commercial Concentration Courses
• Gain a solid, practical knowledge base. CPCU 551 Commercial Property Risk Management and Insurance
• Learn skills that you can put to work immediately. CPCU 552 Commercial Liability Risk Management and Insurance
• Distinguish yourself from your peers and show that you are committed to CPCU 553 Survey of Personal Risk Management, Insurance, and Financial Planning
professionalism in your field. Personal Concentration Courses
• Earn the respect accorded people who hold the designation. CPCU 555 Personal Risk Management and Property-Liability Insurance

The CPCU program has an education, ethics, and experience requirement. CPCU 556 Personal Financial Planning
See page 30 for a complete description of CPCU requirements. CPCU 557 Survey of Commercial Risk Management and Insurance
*All candidates must complete the five foundation courses. In addition, you select
either the commercial or personal insurance concentration and complete the three
courses in the concentration of your choosing. You may not combine courses from
both concentrations.

Foundation Course Descriptions

CPCU 510—Foundations of Risk Management, Insurance, and Professionalism CPCU 520—Insurance Operations, Regulation, and Statutory Accounting
What You Will Learn. Code of Ethics, Risk, Understanding Risk Management, Risk What You Will Learn. Insurance Operations, Insurance Regulation, Insurance Marketing,
Assessment, Risk Control, Risk Financing, Financial Services and Insurance Markets, Property Insurance Underwriting, Liability Insurance Underwriting, Ratemaking, Property
Insurance Mechanism, Insurable Risks, Legal Environment of Insurance, Insurance Policy, Claim Adjusting, Liability Claim Adjusting, Reinsurance, Insurer Financial Statements, Insurer
Insurance Policy Analysis, and Amounts Payable. Financial Management, and Insurer Business Strategy and Global Operations.
Study Materials Item # Cost Study Materials Item # Cost
 Comprehensive Package (includes Texts, Course Guide, Practice 510CP $256 Comprehensive Package (includes Text, Course Guide, Practice 520CP $232
Exam CD-ROM, and SMART Study Aids) Exam CD-ROM, and SMART Study Aids)
 Required Materials Package (includes Texts, Course Guide, and 510RP $180 Required Materials Package (includes Text, Course Guide, and 520RP $156
Practice Exam CD-ROM) Practice Exam CD-ROM)
 Foundations of Risk Management, Insurance, and 51001 $48 Insurance Operations, Regulation, and Statutory Accounting, 52001 $48
Professionalism, 5th ed. (Course Guide and Practice Exam CD-ROM) 2nd ed. (Course Guide and Practice Exam CD-ROM)
Foundations of Risk Management and Insurance, 2nd ed. (Text) 51002 $108 Insurance Operations, Regulation, and Statutory Accounting, 52002 $108
 Code of Professional Ethics of the American Institute for CPCU, 51003 $24 2nd ed. (Text)
8th ed. (Text) SMART Study Aids, 2nd ed. (Review Notes and Flash Cards) 520S $76
 SMART Study Aids, 4th ed. (Review Notes and Flash Cards) 510S $76

 Study materials listed in this publication are valid for exams administered in 2008; study materials are subject to change without notice thereafter.
If you are uncertain about your study materials, check the Institutes’ Web site, www.aicpcu.org, or call Customer Support at (800) 644-2101.
The Institutes: (800) 644-2101 • www.aicpcu.org • customersupport@cpcuiia.org CPCU Professional Designation Program • 27

CPCU 530—The Legal Environment of Insurance CPCU 560—Financial Services Institutions

What You Will Learn. U.S. Law and Regulation; Contract Law: Contract Formation, Agreement, What You Will Learn. Financial Markets, Federal Reserve, Money Markets, Bond Markets,
Legal Capacity, Consideration, Legal Purpose, Genuine Assent, Form, Interpretation, and Stock Markets, Derivative Securities, Commercial Banks, Regulation of Commercial Banks,
Obligations; Insurance Contract Law; Commercial Law; Property Law; Tort Law: Negligence, Other Lending Institutions, Insurance Companies, Securities Firms and Investment Banks,
Intentional Torts, Products Liability, Environmental Torts, Special Liability, and Litigation Mutual Funds, Pension Funds, and Risks Incurred by Financial Institutions.
Concepts; Agency Law; Insurance Applications of Agency Law; Employment Law; Business Study Materials Item # Cost
Entities; and The International Legal Environment of Insurance.  Comprehensive Package (includes Text, Course Guide, Practice 560CP $232
Study Materials Item # Cost Exam CD-ROM, and SMART Study Aids)
Comprehensive Package (includes Text, Course Guide, Practice 530CP $232  Required Materials Package (includes Text, Course Guide, and 560RP $156
Exam CD-ROM, and SMART Study Aids) Practice Exam CD-ROM)
Required Materials Package (includes Text, Course Guide, and 530RP $156  Financial Services Institutions, 5th ed. (Course Guide and Practice 56001 $48
Practice Exam CD-ROM) Exam CD-ROM)
The Legal Environment of Insurance, 1st ed. (Course Guide and 53001 $48  Financial Markets and Institutions, 3rd CPCU ed. (Text) 56002 $108
Practice Exam CD-ROM)  SMART Study Aids, 3rd ed. (Review Notes and Flash Cards) 560S $76
The Legal Environment of Insurance, 1st ed. (Text) 53002 $108
SMART Study Aids, 1st ed. (Review Notes and Flash Cards) 530S $76

CPCU 540—Finance for Risk Management and Insurance Professionals

What You Will Learn. Basics of Corporate Finance, Financial Statements, Sources of
Additional Financial and Nonfinancial Information, Financial Statement Analysis, Working
Capital Management, Time Value of Money, Discounted Cash Flow Valuation, Bonds and
Stocks, Operating Environment and Corporate Finance, Insurer Investment Strategies, Insurer
Income and Dividend Policy, Insurer Capital: Needs and Sources, Capital Structure of Insurers,
Making Capital Investment Decisions, and Mergers and Acquisitions.
Study Materials Item # Cost
Comprehensive Package (includes Text, Course Guide, Practice 540CP $232
Exam CD-ROM, and SMART Study Aids)
Required Materials Package (includes Text, Course Guide, and 540RP $156
Practice Exam CD-ROM)
Finance for Risk Management and Insurance Professionals, 54001 $48
1st ed. (Course Guide and Practice Exam CD-ROM)
Finance for Risk Management and Insurance Professionals, 54002 $108
1st ed. (Text)
SMART Study Aids, 1st ed. (Review Notes and Flash Cards) 540S $76 Online classes are available for CPCU courses. Go to our
Introduction to Accounting Principles and 54008V $38 Web site, www.aicpcu.org, for a current schedule.
Financial Statements (DVD)

NEW Study Materials

CPCU Exam Information
New item prices effective immediately. Prices for other items effective 1/1/08. All
Exam Type Computer-administered. Approximately 30–35 questions, essay exams;
CPCU 553 and 557 are 100-question objective exams. 3-hour time limit. new items available September 2007 for January–March 2008 exams.
Fee* $230 (Discounted Fee)/$295 (Standard Fee)1 Special Program Information
* At all Prometric Testing Centers. Fees effective for exams given beginning with the Sequence: CPCU 510 is designed to be the starting point. However, students may
January–March 2008 testing window. Cancellation credit may apply. Reduced fees take courses in any sequence according to their background, needs, and interests.
apply for Institutes Approved On-Site Testing Centers. See pages 32–35 for complete
exam information, including deadlines, fees, and credits. See our Web site for ACE and CE: Visit our Web site to see ACE college credit recommendations and your
international exams. state’s continuing education credit information for these courses. See pages 36 and 37.
1
T he discounted fee is charged on or before the first day of the testing window; the
standard fee is charged thereafter.
SMART Study Aids for CPCU courses! See page 25.

 Study materials listed in this publication are valid for exams administered in 2008; study materials are subject to change without notice thereafter.
If you are uncertain about your study materials, check the Institutes’ Web site, www.aicpcu.org, or call Customer Support at (800) 644-2101.
28 • CPCU Professional Designation Program The Institutes: (800) 644-2101 • www.aicpcu.org • customersupport@cpcuiia.org

Commercial Concentration Course Descriptions

CPCU 551—Commercial Property Risk Management and Insurance CPCU 553—Survey of Personal Risk Management, Insurance,
What You Will Learn. Property Loss Exposures; Building and Personal Property Coverage; and Financial Planning
Causes of Loss Forms; Flood, Earthquake, and Specialty Forms; Business Income; Inland What You Will Learn. Automobile Insurance and Society, Personal Auto Policy, Homeowners
Marine and Ocean Cargo; Crime; Equipment Breakdown; Businessowners and Farmowners; Insurance, Other Residential Insurance, Other Personal Property and Liability Insurance,
and Surety Bonds. Personal Loss Exposures and Financial Planning, Life Insurance, Health and Disability
Study Materials Item # Cost Insurance, Investment Planning, Planning for Retirement, and Estate Planning.
 Comprehensive Package (includes Texts, Course Guide, Practice 551CP $261 Study Materials Item # Cost
Exam CD-ROM, and SMART Study Aids) Comprehensive Package (includes Texts, Course Guide, Practice 553CP $208
 Required Materials Package (includes Texts, Course Guide, and 551RP $185 Exam CD-ROM, and SMART Study Aids)
Practice Exam CD-ROM) Required Materials Package (includes Texts, Course Guide, and 553RP $132
 Commercial Property Risk Management and Insurance, 4th ed. 55101 $48 Practice Exam CD-ROM)
(Course Guide and Practice Exam CD-ROM) Survey of Personal Risk Management, Insurance, and Financial 55301 $48
Commercial Property Risk Management and Insurance, 55102 $108 Planning, 3rd ed. (Course Guide and Practice Exam CD-ROM)
7th ed. (Text) Investment, Retirement, and Estate Planning, 2nd ed. (Text) 55302 $39
 The CPCU Handbook of Insurance Policies, 7th ed. (Text) 9 $29 Personal Insurance, 1st ed. (August 2004) (Text) 55303 $45
 SMART Study Aids, 3rd ed. (Review Notes and Flash Cards) 551S $76 SMART Study Aids, 2nd ed. (Review Notes and Flash Cards) 553S $76
Business Income Insurance: An Introduction (Video) SAVB01 $41

CPCU 552—Commercial Liability Risk Management and Insurance

What You Will Learn. Liability Loss Exposures, Liability Risk Control, General Liability
Insurance, Business Auto Insurance, Garage and Motor Carrier Insurance, Workers’
Compensation and Employers’ Liability Loss Exposures, Workers’ Compensation and
Employers’ Liability Insurance, Management Liability Loss Exposures and Insurance,
Professional Liability Loss Exposures and Insurance, Environmental Loss Exposures and
Insurance, Aviation Loss Exposures and Insurance, Excess and Umbrella Liability Insurance,
and Advanced Risk Financing Techniques.
Study Materials Item # Cost
 Comprehensive Package (includes Texts, Course Guide, Practice 552CP $261
Exam CD-ROM, and SMART Study Aids)
 Required Materials Package (includes Texts, Course Guide, and 552RP $185
Practice Exam CD-ROM)
 Commercial Liability Risk Management and Insurance, 4th ed. 55201 $48
(Course Guide and Practice Exam CD-ROM)
Commercial Liability Risk Management and Insurance, 55202 $108
6th ed. (Text)
 The CPCU Handbook of Insurance Policies, 7th ed. (Text) 9 $29
 SMART Study Aids, 3rd ed. (Review Notes and Flash Cards) 552S $76

 Study materials listed in this publication are valid for exams administered in 2008; study materials are subject to change without notice thereafter.
If you are uncertain about your study materials, check the Institutes’ Web site, www.aicpcu.org, or call Customer Support at (800) 644-2101.
The Institutes: (800) 644-2101 • www.aicpcu.org • customersupport@cpcuiia.org CPCU Professional Designation Program • 29

Personal Concentration Course Descriptions

CPCU 555—Personal Risk Management and Property-Liability Insurance CPCU 557—Survey of Commercial Risk Management and Insurance
What You Will Learn. Personal Risk Management, Homeowners Insurance, Homeowners What You Will Learn. Commercial Property, Business Income, Commercial Crime,
Endorsements and Variations, Personal Auto, Recreational Vehicles, Developing Personal Equipment Breakdown, Inland and Ocean Marine, Commercial General Liability, Commercial
Insurance Products, Underwriting Profitability, Pricing Personal Insurance Products, Auto, Businessowners, Farm, Workers Compensation and Employers Liability, and Risk
Reunderwriting Personal Insurance Portfolios, and Gaining Efficiencies in Personal Insurance Control.
Operations. Study Materials Item # Cost
Study Materials Item # Cost  Comprehensive Package (includes Texts, Course Guide, Practice 557CP $208
 Comprehensive Package (includes Texts, Course Guide, Practice 555CP $261 Exam CD-ROM, and SMART Study Aids)
Exam CD-ROM, and SMART Study Aids)  Required Materials Package (includes Texts, Course Guide, and 557RP $132
 Required Materials Package (includes Texts, Course Guide, and 555RP $185 Practice Exam CD-ROM)
Practice Exam CD-ROM)  Survey of Commercial Risk Management and Insurance, 55701 $48
 Personal Risk Management and Property-Liability Insurance, 55501 $48 6th ed. (Course Guide and Practice Exam CD-ROM)
3rd ed. (Course Guide and Practice Exam CD-ROM)  Property and Liability Risk Control, 1st ed. (Text) 55702 $39
Personal Risk Management and Property-Liability Insurance, 55502 $108  Commercial Insurance, 2nd ed. (Text) 55703 $45
1st ed. (Text)  SMART Study Aids, 5th ed. (Review Notes and Flash Cards) 557S $76
 The CPCU Handbook of Insurance Policies, 7th ed. (Text) 9 $29
 SMART Study Aids, 2nd ed. (Review Notes and Flash Cards) 555S $76

CPCU 556—Personal Financial Planning Are you in Human Resource Management or Employee Benefits?
What You Will Learn. Life Insurance and Social Security; Health, Disability, and Long-Term Care; The Institutes have a cooperative arrangement with the International
Basic Investment Principles; Equity and Fixed-Income Investments; Mutual Funds; Asset Allocation; Foundation of Employee Benefit Plans. Its Certified Employee Benefit
Income Tax Planning; Planning for Retirement; Estate Planning; and Financing Education Expenses. Specialist (CEBS) designation program waives CPCU 556—Personal
Study Materials Item # Cost Financial Planning in the CPCU program. Log on to www.cebs.org or call
 Comprehensive Package (includes Text, Course Guide, Practice 556CP $176 (800) 449-2327 for information about the CEBS designation.
Exam CD-ROM, and SMART Study Aids)
 Required Materials Package (includes Text, Course Guide, and 556RP $100
Practice Exam CD-ROM)
 Personal Financial Planning, 4th ed. (Course Guide and 55601 $48
Practice Exam CD-ROM)
Personal Financial Planning, 2nd CPCU ed. (Text) 55602 $52
 SMART Study Aids, 3rd ed. (Review Notes and Flash Cards) 556S $76

 NEW Study Materials

CPCU Exam Information
New item prices effective immediately. Prices for other items effective 1/1/08. All
Exam Type Computer-administered. Approximately 30–35 questions, essay exams;
CPCU 553 and 557 are 100-question objective exams. 3-hour time limit.
new items available September 2007 for January–March 2008 exams.
Fee* $230 (Discounted Fee)/$295 (Standard Fee)1 Special Program Information
* At all Prometric Testing Centers. Fees effective for exams given beginning with the Sequence: CPCU 510 is designed to be the starting point. However, students may
January–March 2008 testing window. Cancellation credit may apply. Reduced fees take courses in any sequence according to their background, needs, and interests.
apply for Institutes Approved On-Site Testing Centers. See pages 32–35 for complete
exam information, including deadlines, fees, and credits. See our Web site for ACE and CE: Visit our Web site to see ACE college credit recommendations and your
international exams. state’s continuing education credit information for these courses. See pages 36 and 37.
1
T he discounted fee is charged on or before the first day of the testing window; the
standard fee is charged thereafter.
SMART Study Aids for CPCU courses! See page 25.

 Study materials listed in this publication are valid for exams administered in 2008; study materials are subject to change without notice thereafter.
If you are uncertain about your study materials, check the Institutes’ Web site, www.aicpcu.org, or call Customer Support at (800) 644-2101.
30 • CPCU Professional Designation Program The Institutes: (800) 644-2101 • www.aicpcu.org • customersupport@cpcuiia.org

Explanation of CPCU Requirements Equivalency Chart

Matriculation. You must matriculate (register as a candidate) with the American CPCU Exams Passed
Institute by submitting a matriculation form and the $75 fee. The matriculation
Existing Credit Earns Credit in CPCU
form can be printed from our Web site or requested from Customer Support. You
should submit the matriculation form and fee with the registration for your first CPCU CPCU 1 CPCU 510
exam. You must sign a statement on the matriculation form agreeing to abide by the CPCU 2 CPCU 553 or 555*
Institute’s Code of Professional Ethics. CPCU 3 CPCU 551
Education Requirement. You must pass the exams for eight courses to earn the CPCU 4 CPCU 552
CPCU designation. All candidates must complete the five foundation courses. In CPCU 5 CPCU 520
addition, you select either the commercial or personal insurance concentration CPCU 6 CPCU 530
and complete the three courses in the concentration of your choosing. You may
CPCU 7 or 9 CPCU 560
not combine courses from both concentrations.
CPCU 8 CPCU 540
Ethics Requirement. The American Institute’s Code of Professional Ethics is the standard
CPCU 551 and 552 CPCU 557
by which your ethical behavior as a CPCU candidate or a CPCU designee is measured. You
are subject to the Code once you sign the matric­ulation form, and you continue to be CPCU 555 and 556 CPCU 553
subject to it throughout your candidacy and after receiving the CPCU designation. IIA Programs Completed
Experience Requirement. You must complete suitable insur­ance or related activities Existing Credit Earns Credit in CPCU
for any 36 months (a minimum of 17.5 hours per week) during the five-year period AAI CPCU 557
immediately preceding the conferment of the CPCU designation. See the matriculation
API CPCU 555
form for specific requirements and instructions about how to submit this informa-
tion. If you meet all requirements except the experience requirement, the designation Certificate in General Insurance CPCU 553 or 557*
will be conferred when you meet it. Advanced Degrees/Professional Designations
When you have completed a substantial portion of the CPCU educational requirements, Existing Credit Earns Credit in CPCU
we will send you a form to document your having met the ethics and experience CLU, ChFC, CFP, CEBS, and LUTCF CPCU 556
requirements. If you do not receive this form, contact Barbara Small at (610) 644-2100,
FLMI, FFSI CPCU 560
ext. 7631, or e-mail small@cpcuiia.org. After grades are released, we will notify you
that you have met all CPCU designation requirements. In order for you to attend a WCP CPCU 520
specific conferment ceremony, your ethics and experience form must be received MBA (or equivalent degree), ACAS, or FCAS CPCU 540
and approved before June 30th of the conferment year. See page 31 for other Law Degree CPCU 530
CPCU conferment information. ACII, The Chartered Insurance Institute (UK) CPCU 530, 540, and 560
Other CPCU Information AIIC or CIP, Insurance Institute of Canada CPCU 530, 540, and 560
Continuing Professional Development (CPD): The CPD program is designed to Non-Life Fellow, Insurance Institute of India CPCU 530, 540, and 560
encourage all CPCUs to broaden their professional knowledge and to recognize them
for having done so. A CPCU participates in this voluntary program by accumulating IIA Programs (for candidates who matriculated into CPCU by June 1992 and
completed one of the following IIA programs by December 15, 2002)
60 points for certain professional and educational activities conducted over a period
of 24 consecutive months. A certificate is available for CPD qualifiers. Existing Credit Earns Credit in CPCU
AIC CPCU 530
How to Apply for Waivers for Advanced Degrees or Designations
AIM (if earned with AIM 41, 42, 43, 44) CPCU 560
Students need only apply for waivers for advanced degrees or non-Institute
designations. No application is needed for IIA program waivers. ARM CPCU 510
AU (if earned with AU 61 & 62, plus any pair of 63 & 64, CPCU 520
To apply for waivers in the CPCU program, do the following: 63 & 65, 64 & 66, 65 & 66)
• Download the CPCU/IIA Academic Credit Request form from our Web site, AAI CPCU 551 or 557*
www.aicpcu.org, and click on the Become a CPCU link. AIAF CPCU 540
• Mail the completed form with an official transcript (no photocopies accepted) and
payment of the $125 waiver fee. The fee may be paid by check or money order, or *This credit will be automatically applied to either concentration you choose. You may not
combine courses from both concentrations.
you may charge American Express, Diners Club, Discover, MasterCard, or VISA. The fee
will be refunded if your application is not approved.
You will be notified of your waiver status within a month of our receipt of
your application.
Note: No opinions regarding transfer credit for college courses or professional
designations will be provided by phone or e-mail.
If you have questions about the CPCU program at any time during your studies,
contact Customer Support at customersupport@cpcuiia.org or at (800) 644-2101.