Chartered Property Casualty Underwriter
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Chartered Property Casualty Underwriter (CPCU(R)) is a professional designation in property-casualty insurance and risk management. It is the premier designation in the insurance industry, akin to the Certified Public Accountant (CPA) for the accounting industry. Approximately 65,000 people have earned the designation, since its inception in 1942. The rigorous curriculum includes eight (8) post-secondary undergraduate-, or graduate-level courses covering topics such as insurance law, history, contracts, ratemaking, and risk management, as well as business courses in finance, corporate structure, and ethics.
Designees must pass exams in five (5) core courses and three (3) courses in either a personal or commercial insurance concentration. These exams are standardized, three-hour essay- or objective-type exams. Essay exams consist of two types of questions. Part "A" questions test to determine understanding of the course's terminology, concepts, and content. Part "B" questions test to determine the ability of the examinee to apply the information to case-based scenarios.
CPCU designees are also bound by a Code of Ethics, and must satisfy an experience requirement of at least two years of industry experience. The CPCU designation is administered by the American Institute for Chartered Property and Casualty Underwriters
Designation holders have formed a professional society, the Chartered Property Casualty Underwriter (CPCU) Society. In addition to annual national meetings which serves as a conferment ceremony, the society has local chapters throughout out the country.
Five core courses:
CPCU 510 Foundations of Risk Management, Insurance, and Professionalism
CPCU 520 Insurance Operations, Regulation, and Statutory Accounting
CPCU 530 The Legal Environment of Insurance
CPCU 540 Finance for Risk Management and Insurance Professionals
CPCU 560 Financial Services Institutions
Commercial Concentration (with personal survey)
CPCU 551 Commercial Property Risk Management and Insurance
CPCU 552 Commercial Liability Risk Management and Insurance
CPCU 553 Survey of Personal Risk Management, Insurance, and Financial Planning
Personal Concentration (with commercial survey)
CPCU 555 Personal Risk Management and Property-Liability Insurance
CPCU 556 Personal Financial Planning
CPCU 557 Survey of Commercial Risk Management and Insurance
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