CPCU - Need specfic study advice

[prezzoo]

I’m studying for my first CPCU test and was hoping to get your advice. I just completed the INS courses, which are much easier than CPCU (from what I’ve heard). Of the 4 study segments listed below what do you feel is the best way to study? I’ve heard various arguments for different ways. If you’ve taken the CPCU recently I’d like to hear what you think. I’m a retail P&C agent on Southern CA.

Also, please list how recently you studied for the test.

Chapter Learning Objectives (very broad, listed at beginning of chapter in bullet points)
Definitions
Review questions (review book, usually more specific)
Application questions

[wrxnut25]

I completed my cpcu in 2007. I too completed the INS exams prior to beginning the cpcu studies. I also completed the API designation (two more exams) which also gives you an additional credit toward the cpcu designation.

My recommendation would be to read through the text, purchase the study guide which covers key words in each chapter as well as key questions to test your understanding of the major points from each chapter.

Once I'd completed the text, and gone through the study guide, I'd cram for the exam the day or two before by going through the practice exam provided on cd to help prepare me for the types of questions to expect on the actual exam. This method worked for me, I passed every exam I took, but I never cut corners either. Everyone I know who's tried to cut corners studying for a cpcu exam has failed at least one of them.

Good luck!

[waltmarkers]

Well- for what it's worth I took and passed the CPCU 510 on Thursday. I also previously have taken & passed the CPCU 520. I am three years out of college and in that time I have completed the AAI and ARM designations. AAI was much easier than ARM (honestly I took AAI 83 without ever ordering or reading the book) but ARM is on par with CPCU in level of content. Obviously the change in format from multiple choice to short answer has changed the level of preparation that I put in.

I found 510 easier than 520 (honestly I skimmed a few of the 510 chapters and only spent about two hours with the ethics book if that much). 100% of my study came from review & application questions, along with the CD test. The CD was the largest amount of prep work that I did, taking the test and looking up what I didn't know well. I took the CD test 4 or 5 times. The questions on the CD are harder than on the exam, if you can pass the CD you WILL pass the exam.

I'm going to cram in 530 and try to take that one next week. Trust me, these things aren't that bad. You'll have some shiny new letters behind your name before you know it. (One caveat - in my three years I started in personal lines, moved to small business and now exclusively work on middle market & large commercial - my diverse exposure really helped with the exams.)

[AlstonCPCU]

The CPCU is simple to do. Get the book, study guide, and CD-Rom. Work through the entire study guide and answer everything. Take some practice tests - the one in the back of the book and the CD-ROM. The key to doing it is commitment. Doing the CPCU is all about making it known to everybody that you're doing it (accountability) and then holding yourself accountable by grinding it out. The CPCU is about grinding it out. To do the CPCU is a grind - you have work, friends, family, hobbies, and possibly even religious activities. You have to make time. You won't make time unless you really want it. There is no magic formula other than effort + time + commitment = CPCU.

GRIND IT OUT.

[prezzoo]

I really appreciate the feedback everyone. Another question. While taking the practice test on the CD there are questions which could be answered with a few quick words.

Example: Give the 4 primary goals for insurance regulation. (made that up)

Could I just list out those 4 things or is more information required? What type of answer are the judges looking for?

Waltmarkers: it sounds like we are very close in regards to our taking of CPCU classes. Would you be interested in selling the book/CD to me when you are finished? Maybe we could trade books. Let me know.

[wrxnut25]

If you know the 4 part answer to the example question you mention, you can list them out, 1., 2., 3., 4., no further info necessary.

However, if you're not sure, you're better off elaborating/explaining your answer in detail, thereby increasing the likelihood of being given at least partial credit, as each question is worth at least 3 points, some of the questions requiring calculations, can be worth up to 4 or 5. For calculations, i highly recommend not just giving the answer you came to, but actually writing out the calculation i.e. don't say "5", say 2 + 2 = 5. That way if the steps you used to come to your answer are at least partially correct, you can be given some credit, even if your answer is wrong.

[AlstonCPCU]

In general, on the CPCU tests, follow the instructions of the question and you'll be fine. You'll have some that say "List," "Compare," "Name" or "Explain" and you will do just fine by following the instructions.

[CFessenden]

I'm about to test in a few weeks on my 510 and found an incredible study tool.

I have recorded all key words and review questions, along with the summary into a free recording application on my iphone, and then during drive time, play it back for study time.

Now this is after having read the text and completing the course guide. I think on my next course I will record as I am reading and completing it. That way, I can review during drive time, as I work through the course book.

I only have a 30 minute commute to work, but that is an easy hour per day opportunity, and then by evening, I am ready to start the practice tests per chapter. I have been studying doing chores around the house, grocery shopping, etc. A headset and recording device is all you need.

I have 2 children, manage an agency, have hobbies, kids are in sports, so this is totally helping me fit it into my life.For all the driving the other things require of me, it's just that much more study time.

Just don't try it late at night. Brain starts giving out by then....

Good luck!

[prezzoo]

Anyone interested in swapping books or selling their books?

I have bought a recorder and listen to it in the car - great idea.

[Mido]

Hi guys,
I have the following problem: I really enjoyed my time preparing for the 520 exam which I passed on June 15th on first attempt.

I would love to continue....but my employer does not think it is really relevant and therefore does not reimburse any of the cost. In order to prepare for the 520 I actually bought the Burnham-System/Transcript and it worked - it is to the point and extremely concise - I highly recomend it and I honestly believe that his stats of 96% hit ratio are accurate. But obviously and since Ray increased the price to $300 this breakes the bank...specially with 1 toddler and the second one on the way.

Therefore I would like to ask, if anyone is interested in selling/or lending for a fee any study material. I wanted to continue with the 551.

Any help will be highly appreciated.

Many thanks in advance,
Mido.

[marty202]

Hi Mido, I would like to purchase your study guide. Can you email me at martyhill66@gmail.com to talk about this?

[manish0616]

I need information on the exam forma of CPCU 510 is it Multiple choice format or it is Decrptive type format.

appreciate all help.

[Victoria860]

Hi Manish,

The CPCU 510 exam is a short answer format, it is not multiple choice. Also, it is consider an intermediate level of difficulty. I hope this helps.

VHL

[manish0616]

Hi Manish,

The CPCU 510 exam is a short answer format, it is not multiple choice. Also, it is consider an intermediate level of difficulty. I hope this helps.

VHL

Thanks victoria

[sureshvemuri]

I live in India. I have finished the INS.

I will take the CPCU - 510 in July window - which will be in the short-essay format.
What would be the length of each answer. Would it be 10 sentences or 15 sentences.

Please suggest the exact names of the books I need to read. Are the below correct:

1. CPCU 510 Course Guide - 5th edition, 2007 or 6th edition, 2008
2. Foundations of Risk Management & Insurance - 2nd edition, 2006
3. Code of Professional Ethics of the AICPCU - 8th edition, 2007

Any advice?

Thanks,
Suresh