Changes to the CPCU 520 3rd edition textbook

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
    • Module 9
      • LO 3 – the section on Transaction Processing Systems was expanded and the section on Electronic and Mobile Commerce was removed



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 and let us know.



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  • Charlie Mehl
    Charlie Mehl
    Posted at 10:05h, 29 July Reply

    Loving 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
      Elizabeth White
      Posted at 09:26h, 30 July Reply

      We’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.

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