19 Dec Changes to the CPCU 520 3rd edition textbook
The Institutes has updated their CPCU 520 textbook and will be testing students over the new content for exams starting on January 15, 2019. Below you will find a summary of the differences between the old textbook (2nd edition) and the new textbook (3rd edition).
- Several Learning Objectives (LO) from the old textbook have been removed. These include
- Module 4 – LO 1 (Purposes of Underwriting)
- Module 5 – LO 6 (Importance of Accurate Premium Audits)
- Module 7 – LO 7 (Ratemaking Data Aggregation Methods)
- Module 8 – LO 6 (Reinsurance Program Design)
- Module 10 – LO 4 (Global Expansion)
- Several LOs were combined, re-written, or expanded. These include:
- Module 1
- LO 1 is a combination of the old LOs 2 & 3.
- LO 2 (old LO1) has been expanded to include TRIPRA 2015.
- LO 3 (old LO 4) has been expanded to include Insurer-Producer Relationships, State Insurance Department Statistics, and Consumer Reports.
- LO 5 is brand new. It’s titled “The Digitization of Insurance” and includes topics on Data Capture, Data Storage, and Data Analysis.
- Module 3
- LO 2 is new, but is an expansion on the end of the old LO 1.
- LO 3 (old LO 2) has been expanded to include topics on Market Segmentation, Advertising & Promotion, Customer & Public Relations, and Sales Fulfillment.
- LO 4 (old LO 3) has been expanded to include Omnichannel Marketing Systems.
- Module 4
- LO 6 (old LO 7) has been expanded to include Distortions Created by Changes in Premium Volume, Distortions Created by Major Catastrophic Losses, Distortions Created by Delays in Loss Reporting and Loss Development, and Distortions Created by Underwriting Cycle
- Module 8
- The old LO 4 was split into two new LOs.
- LO 4 is now Types of Pro Rata Insurance
- LO 5 is now Types of Excess of Loss Reinsurance
- The old LO 4 was split into two new LOs.
- Module 9
- LO 3 – the section on Transaction Processing Systems was expanded and the section on Electronic and Mobile Commerce was removed
- Module 1
Updated 8/19/19 – We’ve completed the update to the CPCU 520 study materials. If you have an old study guide and need an updated version, please send an email to help@bigdaddyu.com and let us know.
CPCU® and AICTM are trademarks of the American Institute For Chartered Property Casualty Underwriters, d/b/a The Institutes. BigDaddy U is not affiliated or associated with The Institutes in any way, and The Institutes do not endorse, approve, support, or otherwise recognize BigDaddy U or its products or services.
Charlie Mehl
Posted at 10:05h, 29 JulyLoving the new layout and online courses. Especially that we can keep up with updates. Any idea if we’re going to get a new version of the AIC course study guides?
Elizabeth White
Posted at 09:26h, 30 JulyWe’re working on an update to the AIC 31 study materials, and we hope to have it done within the next couple of months. The Institutes made a significant overhaul to the textbook, so our existing study materials are really not sufficient to prepare you for the current AIC 31 exam.
Aimee Loegel
Posted at 12:09h, 07 MarchI really liked the flash cards for CPCU 520. I noticed they were not on my CPCU 530 course. Is that a separate option or just not available?
Elizabeth White
Posted at 16:37h, 10 MarchWe are creating flashcards for the CPCU 530 course. They will be available when we’ve completed the update to the 2nd edition study materials.
Gabriela Esquivel
Posted at 22:31h, 26 JuneHello can you please clarify if Objective VIII needs to be reviewed for 520 in chapter 2? I notice it’s is included in BDU but not The Institutes book. I have the 3rd version from The Institutes.
Elizabeth White
Posted at 08:24h, 27 JuneThe inclusion of Objective VIII was an oversight when we updated our CPCU 520 study materials, as the rest of the chapter remained the same. You can ignore Module 2 – Learning Objective VIII from our study guide.