Benefits of the CPCU Designation:

The American Institute for CPCU and Insurance Institute of America surveyed designation holders about the value of such a designation and found that:

  • 99% say they gained technical property-casualty insurance knowledge as a result of earning the designation
  • 97% say earning the designation resulted in professional recognition
  • 92% say earning the designation helped them prepare for their long-term career goals
  • 91% say earning the designation provided them with increased job opportunities
  • 86% say earning the designation increased their job security during organizational transitions or consolidations
  • 85% say earning the designation fast-tracked their career progression
  • 83% say earning the designation helped them prepare for their current job responsibilities
  • 78% earn more than $60,000 annually
  • Exam Details
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Professional Designations

The Katie School encourages students seeking a career in insurance to pass as many courses as possible leading toward industry designations and certifications.  Related designations are:

AIC - Associate in Claims

ARM - Associate in Risk Management

ARe - Associate in Reinsurance

CPCU - Chartered Property and Casualty Underwriter

INS - Program in General Insurance

ChFC - Chartered Financial Consultant

Contrary to appearances, these designation programs are not limited to people seeking a job in underwriting. The courses apply to all functions of the insurance and finance industries. Although it is unlikely that a student would be able to attain a full designation before graduating, it is possible to successfully complete one or more of the required courses.

Click for more details about professional designations.

Click for more exam details.

Find out about the Independent Study for Insurance.

 

What is the CPCU designation?

The Chartered Property Casualty Underwriter (CPCU) designation program consists of four foundation courses, one elective course (not shown) and three courses in either the personal lines or the commercial lines concentration:

Foundation Courses:
CPCU500 – Foundations of Risk Management and Insurance
CPCU520 – Insurance Operations
CPCU530 – Business Law for Insurance Professionals
CPCU540 – Finance and Accounting for Insurance Professionals

Commercial Lines Concentration:
CPCU551 – Commercial Property Risk Management Insurance
CPCU552 – Commercial Liability Risk Management and Insurance
CPCU553 – Survey of Personal Risk Management, Insurance, and Financial Planning

Personal Lines Concentration:
CPCU555 – Personal Risk Management and Property-Casualty Insurance
CPCU556 – Personal Financial Planning
CPCU557 – Survey of Commercial Risk Management and Insurance

Much of the insurance coursework offered through the Katie School corresponds with the material included in some of the CPCU exams on either of these paths.  The following courses and CPCU exams have similar material:

CPCU 551 – Commercial Property Risk Management and Insurance
Corresponding Coursework:

FIL 350 - Property Insurance
Corresponding Material:
  • Introduction to commercial property insurance
  • Building and personal property coverage form
  • Causes of loss forms
  • Other commercial property coverage options
  • Flood, earthquake, and specialty forms
  • Business income insurance
  • Inland marine and ocean cargo
  • Commercial crime insurance
  • Equipment breakdown
  • Businessowners policies
  • Industry-specific policies
  • Surety bonds

 

CPCU 552 - Commercial Liability Risk Management and Insurance
Corresponding Coursework:

FIL 352 - Liability Insurance
Corresponding Material:
  • Introduction to commercial liability insurance
  • Commercial general liability (CGL)
  • Business auto, garage and motor carrier
  • Workers compensation and employers liability
  • Management liability
  • Professional liability
  • Environmental
  • Aviation
  • Excess and umbrella liability insurance
  • Cyber risk
  • Terrorism


CPCU 520 - Insurance Operations, Regulations, and Statutory Accounting
Corresponding Coursework:

FIL 355 - Insurance Company Operations
Corresponding Material:
  • Overview of Insurance Operations
  • Insurance Regulation
  • Insurance Marketing
  • Underwriting
  • The Claim Function
  • Reinsurance
  • Insurer Financial Statements
  • Interpreting Insurer Financial Statements
  • Insurer Financial Management
  • Insurer Strategic Management and Global Operations
*Two-thirds of the CPCU 520 material is covered in FIL 355.

 

Click for other CPCU course material.

 

The CPCU Society

Pursuing a CPCU designation has many benefits.  For instance, two Katie School students in pursuit of their CPCU designations, Stacey Hinterlong and Susan Lipps, were sent to the 2009 CPCU Society Annual Meeting and Seminars in Denver, CO on scholarships sponsored by the Central Illinois Chapter.  Stacey shared her experience in the November edition of the CPCU Society magazine Personally Speaking. Advice that she gained from a number of industry professionals was to pursue the designation as early as possible.

Awards

The Katie School supports students pursuing professional designations by providing students with:

  • $230 award for passing any CPCU or ARM exam
  • $150 award for passing any ARe or AIC exam
  • $100 award for passing any INS exam

Please note that all awards are paid to the ISU Financial Aid Office and credited to the student’s account. To be eligible for the CPCU award a student must successfully complete the CPCU course and apply for the award either while enrolled as a student at Illinois State University, or within six months of graduation.

 

What is the ChFC designation?

In view of the new minor in Financial Planning offered by the Finance, Insurance, and Law Department and the Katie School of Insurance and Financial Services industry partner’s desire for students to have enhanced financial acumen, and professional designations, the Katie School is encouraging participation in the Chartered Financial Consultant curriculum.

The Chartered Financial Consultant (ChFC) designation program has 9 courses: 7 required and 2 elective (not shown).

Required:
HS300 – Financial Planning: Process and Environment
HS311 – Fundamentals of Insurance Planning
HS321 – Income Taxation
HS326 – Planning for Retirement Needs
HS328 – Investments
HS330 – Fundamentals of Estate Planning
HS332 – Financial Planning Applications

For more information about the ChFC designation, curriculum, and materials visit the ChFC Advanced Financial Planning Programs of Study page.

Click for more information about the Katie Sponsorship Policy for ChFC Program and fees.

For more information regarding the ChFC independent study please see the information sheet or contact Dr. Edgar Norton or Jim Jones.

 

FIL287 Independent Study:

Started in January 2010, students can earn 3 credit hours for an independent study in insurance (CPCU/IIA) or finance (only ChFC) by following these steps:

  1. Obtain the FIL Independent Study Enrollment Form from the FIL department in SFH 434
  2. Contact a professor that will serve as your sponsor for the independent study. With this professor, you will:
    • Sign a contract with them verifying grading scale and plan of study
    • Obtain the professor’s signature on the FIL Independent Study Enrollment Form
  3. Turn in the contract and FIL Independent Study Enrollment Form to the FIL department in SFH 434 to get approved by the FIL department head
  4. Once it is approved, you will have an override to register for FIL287
  5. Remember, you must follow the Exam Details instructions in order to register for the exam through The Institutes

Fall 2011 FIL287 - Independent Study Sponsors

The sponsorship list includes, but is not limited to:
Yu-Luen Ma: CPCU 500
Yayuan Ren: CPCU 500
Kevin Ahlgrim: CPCU 540
Dr. Nat Pope: all other Institute course offerings
Dr. Edgar Norton: ChFC