Types of insurance education

[cgb]

The CPCU designation is worth it's weight in gold, especially for the company side. It's well respected in the industry as the top designation. My Dad was in sales and while he respected the CLU, he respected the CPCU even more. Even before I had the full designation just having passed classes helped me get jobs as I moved around.

As far as classes, it depends on your study habits. I ended up doing most of my classes self study, the teachers I had weren't great. What you need to do is focus on the material in the course guide; if it isn't in there then you don't care. The Jack Keir study guides are a great help, and the practice exam questions and answers will give you a good feel for what the exam is like.

The classes do take time though. Self study recommendations - classes are 15 chapters, give yourself 20 weeks if you're going to shoot for a chapter a week. It gives you a little breathing room and study time at the end.

If you flunk a class don't get up!! Lots of folks tank at least one class, the accounting class really kills the non-math types. I found the forum on the aicpcu.org website helpful for that class.

My companies paid for all my classes, and most do.

As far as a business undergrad degree or something else, it doesn't matter. Most folks I've run into had a degree in something else and needed a job that made money, so the ended up in insurance. My degree is sociology/psychology. Most hiring managers are thrilled with the CPCU and aren't as concerned what the undergrad degree is. The CPCU is hard core insurance, so it's better in some ways than a business degree.

Whether your insureds understand it or not, if you want to learn the industry the designation is a great help and widely respected. CPCU classes will get you undergrad and grad credit, depending on what you have and what you need. They're also worth quite a bit of CE credit.

Go for it and good luck. It took me a while to get my designation but I'm glad I did and very proud of it.

[scott]

I'd rank the CIC tests as difficulty 4 on a scale of 1 to 10

CPCU is a 7

ARM is an 8

I don't want to see a 10!

BTW, I have earned all three but hardly ever use the CIC disignation in my signature as few recognize the initials outside the industry. The advanced classes for those who have attained the CIC are valuable (called Rubel Seminars) -- good material and usually good instructors.

Mid size CL accounts understand the significance of a CPCU designation. I have seen bid specs that require a member of the team be a CPCU.

[Victoria860]

Is it best to start with CPCU 510? What about doing INS for the course that you need to complete based on which track you choose? And is there a difference between self-study and online classes or are they the same thing?

I'm anxious to start working on my CPCU so I will have the time to focus on it before I start a family. Also, how many years do you have to complete all the courses?

[InsAgentSF]

I think i will start working on CPCU. As i said earlier, I want to do it for myself and I want to achieve the highest concentrated education and degree in insurance.

[independent guy]

Is it best to start with CPCU 510? What about doing INS for the course that you need to complete based on which track you choose? And is there a difference between self-study and online classes or are they the same thing?

I'm anxious to start working on my CPCU so I will have the time to focus on it before I start a family. Also, how many years do you have to complete all the courses?

I think CPCU 510 is a great start! You can take as much or as little time to work on it as you like. Keep in mind though, you are reading college textbooks with what feel like grad-school level exams. For instance, I took an undergrad finance course online, and the textbook for CPCU 540 is identical to the one I bought for my undergrad course.

I've always done self-study, I'm not sure that I'd enjoy the online classes because I enjoy working at my own pace. The SMART study aids have helped me a lot, and I feel they're very worthwhile. I'd give the institutes a call to ask how long you have to complete the designation, however if you space out your courses well enough 2 years should be the amount of time you need.

One last thing - don't underestimate the difficulty of the CPCU exams. If you do not study adequately, you will probably fail. I have learned this firsthand, and it can be an expensive lesson to learn (all-nighters won't work!). Out of all the educational experiences I have undertaken in my life, CPCU is probably the most challenging to successfully complete. It is the fully mental equivalent to my physical test for 4th degree black belt in Taekwondo.

[Victoria860]

I have heard that obtaining the CPCU is similar to obtaining a Master's Degree from college. And I know the exams (being all essay) will be difficult. Just looking for a jumping off point.

If I wanted to do self-study, do I just order the course materials from AICPCU and then register for an exam window? I missed out on taking my INS 21 test because I didn't know how to register for the exam. I'm not bummed, I plan on doing it again with co-worker and we'll take the exam together.

[scott]

I forgot to mention the Burnham System of study aids. Fabulous time saver - http://www.burnhamsystem.com/

CPCU, CIC, ARM and most of the other programs. Ray cooks the material down to the key components.

Worth 2x the price.

[InsAgentSF]

Scott, how long did it take you to get your CPCU?

[scott]

The material and exams are quite demanding. You have to match the material, your job, and your family obligations.

I did CPCU in 3.5 years (ten tests). I was single and able to devote time to studying for several tests at the same time.

I did ARM (3 tests) in 4 years - I was starting up my consulting practice and had (have) family commitments.

Start with a realistic plan. Find the study style that works for you.

I would read the textbook (each lesson in a single session) and study the Burnham System material. I made notes summarizing the key points of each lesson into two handwritten pages. I made flashcards of the terms. I'd have piles of flashcards for each course.

Flashcards work well for me because I can toss out the ones I know and focus on the ones I don't know.

I found that studying for several short bursts each day was best for me - two or three sessions a day of 15 minutes each. Easy to find 15 minutes - tough to find an hour.

I've coached people with vastly different study styles. The important thing is to find the approach and style that works for you.

[cgb]

I'm glad you decided to go for it. It took me a while longer to get my designation, I'm always impressed by folks that can pass more than 2 classes a year. I moved around and changed jobs so had a few hiccups along the way, but that's natural. Life gets in the way, so some folks are on the loong path.

INS classes are easier, but 2 INS count for 1 cpcu. If you're feeling insecure and it's been a while since you studied and did tests, then you might want to consider the INS. I just jumped right in, but I know folks that have started with the INS classes to ease into it.

The classes don't need to be done in order, so start where you feel comfortable. The institutes can give you some guidance based on your existing knowledge.

I tried Burnham and it didn't do anything for me, I did better with Keir. It all depends on your style. Flashcards are really popular though, lots of folks have success with them.

You can order the books directly from the institute and register for the exam. What I'd recommend is order the books, get them and ok at them before you register for the exam. That'll let you get a feel for the material, and how long you need to study to be ready for the exam. Then pick your exam window.

The institutes give you several years to complete, and if they change the program mid stream (I started under the 10 classes and finished under the they'll let you know and are good about working folks through the transition. With moves and a time outside the industry, it took me about 12 years!! Don't let that scare you, I got married in that time and moved 3 times. When I got the notice that I could finish under the new program with just one more class, I went for it. Glad I did too.

[InsAgentSF]

WOW looks like it's a long path, but I still think it's worth it. What did it cost you money wise?

[independent guy]

WOW looks like it's a long path, but I still think it's worth it. What did it cost you money wise?

I have bought the CPCU's "S.M.A.R.T." study aids with each course, which is their way of competing with Keir and Burnham. Each course's materials with the study aids has cost me around $240. The exams for each course are also around $217. You have to take 8 courses to complete CPCU.

Here is a link to the program: http://www.aicpcu.org/flyers/cpcu.htm