how to prepare for institute exams handbook

8/6/2019 How to Prepare for Institute Exams Handbook

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How to Prepare forInstitutes Exams

Best Practices for Exam Success


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2010

American Institute For Chartered Property Casualty Underwriters

Revised Edition First Printing August 2010


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Introduction iii

Chapter 1

Why Dont People Pass? 1

Chapter 2

Am I in the Right Course or Program? 3

Chapter 3

Proven Exam Preparation Techniques 5

Chapter 4

The Exams: Formats and Grading 9

Chapter 5

Exam-Day Dos and Donts 17

Chapter 6

When Will I Get My Grade? 19

Appendix 21

i

Contents


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Introduction

As you begin your studies with The Institutes, you may eel apprehensiveabout taking a credentialing exam. This is a perectly normal eeling. Inact, it is the reason we developed this handbook. Using How to Prepare orInstitutes Exams will help increase your confdence as you get ready to takeyour exam. It provides techniques to help you earn a passing grade. It will helpyou improve your ability to understand and learn the material and to recalland apply it on exam day. We are confdent you will fnd it a valuable resourceas you prepare or The Institutes exams.

To help you get started, Chapter 1 o this handbook identifes some o the

primary reasons that people are not successul on Institutes exams. Otherchapters ocus on ways to overcome exam-related problems. Try the tech-niques and suggestions in this handbook to fnd the ones that work best oryou. Ater some orientation, you will develop a routine that both fts yourschedule and helps you succeed.

Who are The Institutes? The Institutes are a not-or-proft organization oer-ing knowledge solutions and proessional development services to the riskmanagement and property-casualty insurance community. The Institutescourses and designation programs are recognized or their quality, technicalaccuracy, and job relevance. Most o these courses and programs have beenapproved or continuing education credit by state insurance departments.

Earning one o our certifcates or designations shows you are committed toimproving your proessional knowledge and skills. Our online products fllknowledge gaps or insurance proessionals, which will make you a valuableasset to your company. What you learn will increase your confdence in deal-ing with peers, supervisors, upper management, and customers and can alsoenhance your career growth.

How to Prepare for Institutes Exams iii


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Chapter 1

Wy D PPl P?Passing The Institutes exams and attaining the widely recognized proes-sional designations associated with them are the main goals o most Institutesstudents. However, because The Institutes courses are rigorous, not every-one is immediately successul. Ater years o helping students evaluate whythey have not been successul on Institutes exams, we have identifed severalprimary reasons why students do not pass: (1) taking the wrong course (2)

inadequate preparation and (3) ailure to understand exam questions andmanage exam time.

aking the Wrong CourseStudents enroll in Institutes courses or many dierent reasons. Some arecounseled into programs that introduce them to new areas o responsibil-ity. Others may select courses based on their own perception o what ittakes to advance at their companies. And some enroll in a specifc coursemerely because it is available or because their riends and colleagues areenrolling. Getting into the right course and program is the best way toenhance your chances o success. Strategies or doing this are discussed in

Chapter 2.

Inadequate PreparationThere is no best way to prepare or Institutes exams. Many studentsstudy on their own, while others seek the interaction and discipline oinstructor-led, live, and online classes. When classes are not available,some students orm small study groups to help each other stay on trackand to get a broader perspective on the material (see Section A o theAppendix).

Regardless o your preparation method, you can ollow the tips presented

in Chapter 3 to help you prepare.

How to Prepare for Institutes Exams 1


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Faiure to Understand am Questions and

Manage am imeAt the testing center, students ace several challenges, one o which iseective time management. Some students run out o time and ail toanswer all the questions, which makes it much more difcult to achievea passing score. Another prevalent reason or lack o success is the misin-terpretation o exam questions. Suggestions or better understanding thequestions and managing time during the exam are provided in Chapters 4and 5.

2 How to Prepare for Institutes Exams


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Chapter 2

M I I RI CUR R PRRM?The Institutes provide an educational advising service (see Appendix,Section B) to help you make the best choice in determining where to startyour insurance and risk management education. Likewise, many companieshave proven career-training tracks that guide their employees into coursesin which they are more likely to succeed.

What leve Course Is Right for Me?To be successul, you need to match your educational skill level to thedegree o difculty o the course you have in mind. For instance, i you arejust coming out o a college environment, you are probably better preparedto work with college-level material and to make a regular commitment tostudy than someone who graduated years ago and who has numerous com-peting obligations.

Another consideration is your current level o knowledge about the coursecontent. People learn best when they can attach new inormation to some-thing they already know. When there is too large a gap between someonescurrent level o knowledge and the new material, his or her ability toeectively learn and recall the new material is diminished. For example,someone with no understanding o medicine would likely be more successulin a frst-aid course than in a course on brain surgery.

What Program houd I tart With?Some employers have defned development paths or their employees. Thesepaths most oten start with courses closely related to the unctional area inwhich the employee is currently working. Thereater, development pathsgenerally progress upward and outward to include courses that broaden anemployees understanding o other unctional areas and the entire industry.

Consulting with your employer about this development path is a smart frst step.

Keep in mind that when you can immediately apply new concepts in yourwork or personal lie, you enhance your understanding o the inorma-tion and your ability to recall it. Thereore, i you are working in a claimdepartment, starting with claim-related courses gives you the advantage oimmediately using your newly acquired knowledge. Ultimately, you will useyour claim knowledge to transition into studying other disciplines in theinsurance and risk management industry.



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The Institutes educational advising service can help you make this crucialdecision. Advisers can give you a better understanding o the topics cov-ered in specifc courses and help you clariy your educational skill level.

See Section B o the Appendix or more ideas or selecting programs andcourses. See Section C o the Appendix or inormation on contactingInstitutes advisers or using our online advising system.



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Chapter 3

PR xM PRPRI CIQU

ime ManagementThe frst obstacle to success is a hectic schedule. People who take controlo their time and develop a systematic plan that allows both sufcient andregular preparation time are more likely to be successul than those with moreerratic schedules and those who use last-minute, marathon study approaches.

Most people will not fnd time in their regular routine to study. They willhave to create time by eliminating other activities. This involves simply pick-ing a regular time o day, even i it is short (or example, 7:30 to 8:00 A.M.)and dedicating it to preparation activities.

ffective Use of the tud MateriasMaking eective use o the primary study materials is the best way to prepareor the exam. These primary study materials are the textbooks, course guides,and practice exams. Supplemental (optional) SMART packages are also avail-able or students.

he Course uideThe course guide provides an overview o the content by assignment andseveral aids to help you study. These aids include Educational Objectives,required reading, outlines, Key Words and Phrases, review questions, applica-tion questions, and sample exams.

Some students complete all sections o their course guides, while others useonly those portions necessary to reinorce their understanding o the material.Occasionally, topics that will be tested are put into the course guides, so weurge students to read their course guide completely.

Educational Objectives

Many people consider the Educational Objectives to be the key to success onInstitutes exams. Because all exam questions are based on the EducationalObjectives, the best way to study is to ocus on these objectives. A thoroughreview o the objectives beore you read the text will help you ocus on thecritical components o each chapter while you read.



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Required Reading

The items listed in this section indicate what portion o the study materials(the textbook chapter(s), course guide readings, or other assigned materials)

correspond to the assignment.

Outline

The outline lists the topics in the assignment. Read the outline beore therequired reading to become amiliar with the assignment content and therelationships o topics.

Key Words and Phrases

These words and phrases are undamental to understanding the assignment,and they have a common meaning in the insurance industry. Ater complet-ing the required reading, test your understanding o the assignments Key

Words and Phrases by writing their defnitions.

Review Questions

The review questions test your understanding o what you have read. Reviewthe Educational Objectives and required reading, then answer the questionsto the best o your ability. When you are fnished, check the answers to evalu-ate your comprehension.

Application Questions

These questions continue to test your knowledge o the required reading byapplying what youve studied to real-lie situations. Again, check the sug-

gested answers to evaluate your progress.

Sample Exam

The Sample Exam helps you test your knowledge o the material. Use theSample Exam at the back o the course guide or the SMART Online PracticeExams (whichever accompanies the course guide or the course you aretaking) to become amiliar with the test ormat.

More tud idsThe Institutes also produce additional SMART Study Aids or many o ourcourses. SMART Study Aids include Review Notes and Flash Cards. These

materials are excellent tools to help you learn and retain the inormationcontained in each assignment.

The Review Notes contain the Educational Objectives or each assignment.The Flash Cards are the Key Words and Phrases with defnitions on the back.When SMART Study Aids are available or a course, they are listed on pageiii o the course guide.



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ips for learning and Remembering Content

learning ipsThe learning process can be thought o as a series o levels through whichyou pass as you move gradually rom awareness o an idea to a higher levelo mastery. An essential part o this process is to realize that being inormedand competent is not simply a matter o knowing. It is a gradual progressionthrough which you successively build your knowledge rom mere awareness toan ability to use it to solve increasingly complex problems. The starting pointor this building process is the use o memory aids.

Memor idsMemorizing makes it possible or you to move through the important early

stages o remembering: awareness, recognition, and recall. Memorizing courseideas is not an educational end in itsel, but it is essential to being able to usethose ideas to answer questions or to solve problems.

The ollowing techniques can help you memorize, reinorce, and retain courseideas:

Verbalize to reinorce. When you encounter new concepts, talk about themwith someone at the ofce or in class. Put them into your own words, and tryto explain them to others.

Use ash cards. Review Key Words and Phrases by using the Flash Cardsincluded with the SMART Study Aids. Or write unamiliar words or phrases

on one side o an index card, with the defnition or explanation and a brieexample on the other side. The act o writing helps you commit the words andphrases to memory. This can be a useul study tool to use when reviewing oran exam.

Paraphrase by rewriting defnitions o unamiliar words or phrases in yourown words. Rote memorization o a defnition or concept is fne or a shorttime. But over time, you should be able to move rom the authors defnitionto one that is stated clearly in your own words. When you can do this, youhave moved rom renting ideas to owning them.

Use ideas that you encounter in your studies. When the course material isrelevant to your present job, use course ideas as you make decisions, corre-

spond with clients, or talk with colleagues.

Include a series o review sessions in your study routine. Short-term orlong-term reviews can enhance retention.

Instead o merely saying, I know that to an Educational Objective, a keyword, or a review question, speak or write the answers. Also, periodically tryreviewing small portions rom several assignments rather than all the inorma-tion rom just one assignment.



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Studies have shown that without the reinorcement provided by review, up to75 percent o new material is orgotten within a matter o days.

pping What you learnNew inormation may be valuable in itsel, but the real value is in being ableto apply new inormation in a practical way. I the course ideas are applicableto your work activities, use them in answering questions or solving problems.Your new knowledge can also increase your understanding o what others inyour unctional area do and how your work activities relate to others in insur-ance and risk management.

I new course ideas are not applicable to your job, talk with others who workwith these concepts to gain a better understanding o the connection betweentheory and practice.



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Chapter 4

xM: FRM D RDI

he Roe of the amsThe primary objective o exams is to measure what students have learned andhow well they understand and can apply that inormation. Why is this mea-surement so important?

The proessional designations and certifcates rom The Institutes are amongthe most widely recognized and respected in the global risk management andproperty-casualty insurance industry. Industry leaders know and have come torely on the act that people who have successully completed these programshave mastered the body o knowledge they represent. Thereore, it is criticallyimportant that The Institutes protect the integrity o these programs with arigorous and air exam system.

Exam questions are careully drawn rom the entire course to test how wellyou have learned the material.

What re the Questions sking?he am

Deveopment ProcessYour knowledge is tested every day by questions that colleagues and customersask. To answer them, you must select the appropriate inormation rom yourbank o knowledge and then organize and communicate it. The Institutesexams require the same o you. The exams test both your knowledge o courseideas and your ability to organize and evaluate it. This is true or both objec-tive and essay questions. Your exam perormance indicates how well you canuse the course material to solve problems or explain important ideas.

The development o exam questions consists o a series o steps and involvesmany Institutes sta members. The goal o participants in the process is to

develop exam questions ocused on the Educational Objectives in the requiredstudy materials. A wide variety o topics are sampled on the exam.

ducationa bjectivesThese are the most important study tools in the course guide. Because all thequestions on the exam are based on the Educational Objectives, the best wayto study or the exam is to ocus on these objectives.



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Each Educational Objective typically begins with one o the ollowing actionwords, which indicate the level o understanding required or the exam:

AnalyzeDetermine the nature and the relationship o the parts.

ApplyPut to use or a practical purpose.

CalculateDetermine numeric values by mathematical process.

ClassiyArrange or organize according to class or category.

CompareShow similarities and dierences.

ContrastShow only dierences.

DefneGive a clear, concise meaning.

DescribeRepresent or give an account.

EvaluateDetermine the value or merit.

ExplainRelate the importance or application.

Identiy or listName or make a list.

IllustrateGive an example.

JustiyShow to be right or reasonable.

ParaphraseRestate in your own words.

SummarizeConcisely state the main points.

Exam Balanced Across All Material

The Institutes exams include a balanced representation o all the assignedstudy material. You will not fnd multiple questions rom a ew assignmentsand none rom others. Thereore, you should not skip an assignment in thehope that no questions rom it will be on the exam.

Reviewed by Advisory Committees

To help develop the criteria or exam questions and to maintain a balancedselection o exam questions, The Institutes have advisory committees or allcourses. The advisory committees are composed o knowledgeable industryproessionals who are the experts in the various areas o insurance and riskmanagement covered by The Institutes programs. These committee members

are generally not members o the panels that grade the essay exams.

Types of Examination Questions

Questions are presented in two sections. Each section tells you how manypoints it is worth.

Knowledge-Based Exam Questions (Part A o the exam)The questionsin Part A test your direct knowledge o principles, concepts, and terms.They are similar to the review questions in the course guide.



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Application-Based Exam Questions (Part B o the exam)Part B ques-tions require you to apply your knowledge o the course material to a seto acts or a case situation presented to you. They are similar to the appli-

cation questions in the course guide.

bjective Question FormatsObjective examinations consist o multiple-choice questions with our answerchoices. There are three types o objective questions: stand-alone, internalcase, and external case.

Stand-Alone Questions

Stand-alone questions have a short stem and our answers. These questions donot require any analysis or synthesis o a actual situation or manipulation oknowledge. A simple example is a stem asking, Which one o the ollowing is

the coinsurance ormula used in commercial property insurance? Most o thequestions require you to recall or recognize some o the study material or toknow the defnition o one o the Key Words or Phrases.

Internal-Case Questions

Internal-case questions present a small actual situation that serves as the basisor one question and requires you to apply your understanding o the coursematerial. The actual situation is contained in the stem. You must use theacts o the case to answer the question. For example, a question may presentan insured with a given set o coverages and then describe a loss suered bythat insured. The question then may ask how much the insurer would pay orthe loss. To answer the question, you must consider the limits and coverages

as well as the details o the loss.

External-Case Questions

External-case questions are similar to internal-case questions, but two or moredistinct questions are based on a single, detailed actual situation. Again, youmust use the acts o the case to answer the questions. An example is a casecontaining detailed inormation about an insureds exposures and coverages.Questions based on the case may include:

Coverage provided or a given loss

Other coverages needed or the insureds exposures

Coverages provided or new exposures (or example, a change inoperations)



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pes of bjective QuestionsIn addition to knowing the ormats o the objective questions you willencounter, it is helpul to know the types o questions that appear on theexams. These types may appear in any o the three ormats discussed above.

The Correct Answer Type

In this type o question, the question stem is ollowed by our responses, oneo which is correct. Select the correct answer.

Which one o the ollowing persons evaluates requests or insurance anddetermines which applicants are accepted and which are rejected?

a. The premium auditor

b. The loss control representative

c. The underwriter

d. The risk manager

The Best Answer Type

In this type o question, the question stem is ollowed by our responses, onlyone o which is best, given the statement made or acts provided in the stem.Select the best answer.

Several people within an insurer might be involved in determiningwhether an applicant or insurance is accepted. Which one o the ol-lowing is primarily responsible or determining whether an applicant orinsurance is accepted?

a. The loss control representative

b. The customer service representative

c. The underwriter

d. The premium auditor

The Incomplete Statement or Sentence-Completion Type

In this type o question, the last part o the question stem consists o a portiono a statement rather than a direct question. Select the phrase that correctlyor best completes the sentence.

Residual market plans designed or individuals who have been unable toobtain insurance on their personal property in the voluntary market are

calleda. VIN plans.

b. Sel-insured retention plans.

c. Premium discount plans.

d. FAIR plans.



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All of the Above Type

In this type o question, only one o the frst three answers could be correct, orall three might be correct, in which case the best answer would be All o the

above. Read all the answers and select the best answer.

When a large commercial insureds policy is up or renewal, who is likelyto provide input to the renewal decision process?

a. The underwriter

b. The loss control representative

c. The producer

d. All o the above

All of the following, EXCEPT: Type

In this type o question, responses include three correct answers and one

answer that is incorrect or is clearly the least correct. Select the incorrect orleast correct answer.

All o the ollowing adjust insurance claims, EXCEPT:

a. Insurer claim representatives

b. Premium auditors

c. Producers

d. Independent adjusters

ssa FormatJust as writing ability is essential to perorming many o your job duties, it is

also important when preparing or an essay exam. Writing well on the essayexam involves two phases o preparation: reading and understanding studymaterials (input) and developing techniques to improve the way you expressyoursel (output).

The ollowing steps will help you answer questions eectively, whether onan exam or on the job. Practicing these our steps as you answer course guideapplication questions can make the process automatic. Questions on the examwill test your knowledge o acts, concepts, and principles as well as your abil-ity to apply your knowledge in an application situation.

Step 1: Analyze the Question

You must determine what the question is asking beore you start to answer it.First, look at the ormat o the question. Some questions stand alone with nointroductory material. Others describe a problem situation in the introductoryparagraph (the stem or preamble). The subparts o the question ask you toexplain ideas, answer questions, or solve problems related to the stem.

Second, identiy the action words that tell you what to do. Find the words,concepts, or ideas that are the targets o the action words. These actionand target words tell you what kind o response is expected. Determine the



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principle or concept, i any, that underlies the question. Take the ollowingstand-alone question example:

Explain why catastrophes raise the cost o replacement-cost coverage.

The action word is......Explain

Explain what?......The rise in the cost o coverage

A rise in cost or any reason?......No, only as it relates to catastrophes

Any type o coverage?......No, only replacement-cost coverage

Your answer must relate to both catastrophes and replacement cost to earn ullcredit.

Step 2: Plan Your Answer

Think about the structure and component parts o your answer beore youstart writing. A little planning saves writing time and is especially helpulwhen longer answers are required. Identiy the essential parts o your answerand organize your ideas logically beore you begin to write. Making a roughoutline or simply jotting down thoughts and sequencing them with numberscan be a helpul step toward eective writing.

Step 3: Write Your Answer

Dont waste time restating the question, but i you think you need to state anyassumptions or indicate any broad principles on which your answer is based,start your answer with this inormation. Follow your plan to write the answerand expand on the main ideas with details, explanations, or examples.

Allocate your time or each question according to the points assigned to it.For example, you should spend more time developing your answer to a six-point question than you would or a three-point question. The review andapplication questions or each assignment in the course guides provide anopportunity to practice.

Step 4: Evaluate Your Answer

Review your responses and ask yoursel the ollowing questions:

Did I answer the question asked?

Did I do what the action words asked me to do?

Does my answer cover all the subparts o the question?

Did I provide enough relevant points to support my answer?

Are my answers missing essential words such as not or never?

Have I inadvertently interchanged critically important words such asmortgagor and mortgagee?

Do my examples contradict my answer?



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he rading ProcessThe Institutes involve industry proessionals in all aspects o the exam pro-

cess. This is especially true or exam grading. It is essential that questions andanswers be relevant and airly assessed.

bjective amsIndustry experts review all objective questions beore they are used in actualexams to be sure they are phrased clearly and that the answer choices areappropriate. While good objective questions require incorrect answers that areplausible, The Institutes never intentionally use trick questions.

The Institutes pretest questions in actual exams, but the results are notcounted in the exam grading. The perormance o the pretest questions isreviewed, and these questions are used in subsequent exams when appropri-

ate. Students are unaware o which, i any, question items on their exams arebeing tested in this way.

While students are usually given preliminary results at testing centers whenthey take their exams, The Institutes reserve the right to review the resultswhen they receive them. Upon satisactory review o exam results, TheInstitutes will send an e-mail notifcation that your ofcial grade report isavailable on our Web site at www.TheInstitutes.org.

ssa amsAll essay exams are returned to the Institutes or grading. Preliminary results

are not available at testing centers. The grading process is composed o sev-eral steps to ensure that students exams are treated consistently, airly, andobjectively.

Grading Panels

Collectively, those who grade essay exams constitute The Institutes gradingpanel. Graders are usually industry employees whose jobs directly involve thesubject matter o a particular course. For courses that deal with subjects suchas accounting or law, graders may include college proessors currently teachingin those areas. Institutes sta members moderate these panels but generally donot grade exams.

Grading KeysAn Institutes sta member and a grading panel construct a preliminary grad-ing key based on their expectation o how the questions should perorm. Thiskey lists all o the possible answers and how many points each answer willreceive. Through trial testing o the grading key and panel meetings to discussand modiy the key, a fnal grading key is set or every question, and criteriaare set or grading all o the exams or that course.



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Grading Process

Essay exams are graded using the fnal grading key. Because the answers tomost exams are typed and saved at computer testing centers, they can be

quickly routed electronically to members o the grading panel. Exams thatscore ar below or well above the passing grade o 70 percent are not usuallygraded a second time. Many exams are graded by at least two dierent graders.I a fnal grade cannot be established ater two gradings, the exam is gradeda third time, ater which the fnal grade is determined. The second and thirdpeople grading the exam do not know what points were credited by previousgraders. The speed o the electronic exam distribution and collection systemallows a thorough grading o exams in a relatively short period o time.

Examination Security

The Institutes use several tools to ensure that exams are administered to all

students consistently and airly. These tools alert us to any irregularities attesting centers so we can launch an investigation. The results o an investiga-tion can be used to invalidate test results and to revoke permission to takeuture exams.



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Chapter 5

xM-Dy D D DAlthough there is no substitute or regular reading and studying, these tips canbe helpul when you are preparing or or taking your exam. You may alreadyknow some o these, but a reminder may sharpen you exam-taking skills.

Dos

Check your exam confrmation inormation as soon as you receive it. Becertain that you are registered or the correct exam and the correct examcenter and that you understand the requirements at the exam location,such as presenting a valid photo ID with signature. Your name on yourexam confrmation should exactly match the name on your photo ID. I thereare any problems, call The Institutes Customer Service Department at (800)644-2101 as soon as possible. International students should call (610)644-2100.

Make plans or your transportation to the exam center, and plan to arriveearly. Be certain you know exactly where your testing center is located.

Be certain you have all o the inormation and materials (including theexam confrmation notice and photo identifcation) that you will need tosign in and to take your exam. Know what you can and cannot take intothe exam room.

Practice good time management by assessing your use o time regularlyduring the exam. The time remaining to fnish the exam is displayedon the exam screen. Allow time at the end o your exam to review youranswers and to answer any questions you skipped the frst time through.

Remember that you earn credit or answering questions correctly. You donot lose credit or incorrect answers. Thereore, beore time expires, takeyour best guess on any remaining questions.

Donts Dont leave any questions unanswered. I you are not sure about somequestions, mark them and come back to them later. Dont panic i youdont know the answers to a ew questions right away. Oten you will fndthat as you move through the exam, you will recall inormation that youcould not remember at frst.



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Dont spend too much time on Part A o the exam. Remember that thequestions in Part B are usually more complex and will likely require moretime to read.

Dont let concerns about the exam get you down. The steps you havetaken to prepare or the exam should give you confdence in your abilityto answer the exam questions.

Dont cram at the last minute, including the night beore the exam.Cramming can lead to conusion and heighten your stress.

To keep your study momentum going ater the essay exam, you will have toconsider what your next study step will bewait or your results or proceedwith your next course. Whatever route you decide to take, you should eelcomortable with it.



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Chapter 6

W WIll I My RD?When ofcial grade reports become available depends on the type o exam.Here are some guidelines:

Computer Essay Exam. E-mail grade reports are usually issued as soon asgrading is completed. The ofcial grade report is available on our Web sitewithin our weeks o the exam date, unless grading is delayed.

Computer Objective Exam. The computer-issued Unofcial Grade (P or Ngrade) is usually issued at the exam center. Ofcial grade reports rom TheInstitutes are available on our Web site within two weeks o the examdate. In some cases (new course material, or example), grading might nottake place until the end o the testing window.

Paper-and-Pen Exams-on-Request (EOR). Grade reports are available onour Web site one week ater The Institutes receives the exam.

International Student Exam. CPCU grade reports are available on our Website within our to six weeks o the exam date.

Grading Delays. Grading delays may occur when tests are based on new orrevised material. This most oten occurs during the JanuaryMarch testingwindow. Please note that the grading o all CPCU exams is delayed or up

to seven weeks during the JanuaryMarch testing window.

What If Im Unsuccessfu?Realize that many students dont pass Institutes exams. I you need to retakean exam, plan to do so as soon as possible. Students who retake an exam inthe same window or next window have proved to be more successul thanstudents who wait.

It is important to think about how you studied and how much time you spentin preparation. Ask yoursel questions such as:

Did I have the correct study materials?

Was this the best course or me, or are other options more appropriate?

Did I give mysel enough time to learn the course material, or did I cram?

Did I use the exercises in each assignment in the course guide?

I the exam was particularly difcult or you, consider joining a local classor an online class to help you prepare to retake it. Review how well you didby looking at the online Grade Analysis Based on Educational ObjectivePerormance (see Section C o the Appendix) and at the assignment rankingson your grade report.



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Did you have difculty with concepts you thought you understood? This couldindicate a misunderstanding o what the questions asked. Additional analysiso your non-passing exam is available online at The Institutes Web site (see

Section C o the Appendix).

Depending on how well you answered questions related to each assignment, youmight want to incorporate the ollowing guidelines into your review activities.

For ssignments in the 70% or Better RangeYou did rather well in these assignments. Begin your review by going over theEducational Objectives or each. This may be all the review you need. I youhave difculty with the objectives, look at other areas such as the Key Wordsand Phrases, the review and application questions, and your notes.

For ssignments in the 5070% RangeYou did not exhibit clear mastery o the material in these assignments. Thefrst step is to review the Educational Objectives, the Key Words and Phrases,and the review and application questions. Pay special attention to those areasthat caused problems in your review. I you still eel uneasy about your under-standing o the materials, review your notes and seek help rom others.

For ssignments in the 50% or less RangeThis is where you lost most o your points. Restudy each assignment in thisgroup as i it were the frst time you studied it. Use the Educational Objectivesto ocus your study, and make certain that you can perorm these objectives.

Ater your review, some areas may still be unclear, or there may be questionsyou cannot answer with confdence. When this happens, draw on the experi-ence and expertise o others, such as course leaders or experienced colleagues.

The Institutes provide the ollowing orms o additional assistance to nonpass-ing students:

Graders comments (or essay examinations): These are general commentsabout a students answers that, in the opinion o the grader, caused a losso points. The comments will not reer to particular questions or providecorrect answers, but will instead identiy characteristics o the studentsanswers that caused problems. For example, the comments may note that

answers tended to be too general with not enough detail, that they ailedto answer the question asked, or that examples used in the answer werenot appropriate.A nonpassing student must request this inormation withinone year o taking an examination.

Educational advising: For additional aid in developing or refning yourstudy routine or planning uture Institutes course study, call our CustomerService Department.



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Appendix

PIC

ection : eecting an am Preparation Method

ection B: eecting a Program, Identifing a tarting Course, and

Panning your tud

ection C: he Institutes Information ources

ection : eecting an am Preparation MethodThere are three principal methods o preparing or Institutes exams. Pleaseremember that you are primarily responsible or what you learn; placing unduereliance on others is risky at best.

Independent Learning On your own, perorm the study activities rec-ommended in each course guide. This approach gives you the greatestexibility as you study and prepare each assignment.

Group Learning Without a Course Leader. In addition to your indepen-

dent study, meet weekly with a small group o colleagues. In this situation,the responsibility or pre-class study rests with each individual, and all orselected members o the group share the responsibility or moderating theweekly discussion sessions.

Group Learning With a Course Leader. In addition to your independentstudy, enroll in a live or an online class with a ormal course leader. Thisclass might be sponsored by your own organization or by a CPCU Societychapter, college, insurance association, agents association, independentcourse provider, or similar group.

To fnd out whether a class is oered in your area, use The InstitutesPublic Class List under Student Services at our Web site, www.

TheInstitutes.org, or call our Customer Support Department orassistance.

Historically, there has been a narrow spread in the passing ratios or thesestudy methods. This indicates that each can be highly eective or studentswho are motivated or personal and proessional development. Prospectivestudents need not postpone involvement in Institutes courses simply becauseno ormal class or study group is available.



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ection B: eecting a Program, Identifing a

tarting Course, and Panning your tudThe Institutes courses and designation programs are recognized or their qual-ity, technical accuracy, and job relevance. Earning one o our certifcates ordesignations shows you are committed to improving your proessional knowl-edge and skills. What you learn will increase your confdence in dealing withpeers, supervisors, upper management, and customers and can also enhanceyour career growth.

Oten, the decisions you make beore you begin your study play the biggestrole in determining the outcome o your eorts. Finding the best program andthe right course with which to start are crucial actors that will put you on theright educational path. Careul planning can ensure satisying and successulstudy. The ollowing steps can help you plan your study:

Establish your learning needs and goalsDoes your employer have aspecifc development plan or your short-term and/or long-term career?Where do you see yoursel in fve years? What educational accomplish-ments will best help you get there?

Gather inormation about your study options. There are many goodeducational programs to choose rom, several o which are rom TheInstitutes. More inormation about Institutes programs is available on ourWeb site at www.TheInstitutes.org. There, you can also fnd inormationabout class preparation opportunities. You may also want to consult yourcompanys human resources department to determine whether any in-house oerings are available.

Match your background and current learning needs to the program thatbest meets those needs. What is your current job? Is your education inthis feld already sufcient to do your job well? What are your educationalstrengths? You may be able to take a course that builds on your collegemajor.

Select the best program or course, and plan your study.

Information bout Institutes ProgramsSome Institutes programs, such as the Introduction to Property and CasualtyInsurance (INTRO) course, the Associate in General Insurance (AINS), andthe Chartered Property Casualty Underwriter (CPCU) program, provide an

overview o the property-casualty insurance business. INTRO presents inor-mation at a basic level, while CPCU is more in-depth. The AINS program ismore advanced than INTRO but not as in-depth as CPCU.

Other programs, such as Associate in Claims (AIC), Associate in RiskManagement (ARM), Associate in Personal Insurance (API), and Associatein Commercial Underwriting (AU), provide an in-depth study o insuranceunctions or specialty areas o insurance or students who want to broadentheir present understanding o a specifc unctional area.



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The Institutes recommend that students begin some programs (such as AINS,AIC, or ARM) with a specifc course in order to set the stage or conceptsthat are treated in more depth in the other courses in the program. Reer

to Succeed, The Institutes proessional development catalog, or contactCustomer Service or more inormation.

Panning uggestionsI you have less than a year o insurance experience:

Consider taking the INTRO course as a oundation or later study oAINS, the Associate in Insurance Services (AIS), or the AccreditedAdviser in Insurance (AAI) designation programs.

Take the Introduction to Claims course beore AIC, the Introductionto Risk Management course beore ARM, or the Introduction to

Underwriting course beore the AU or API program.I you have ewer than our years o insurance experience; have a collegebackground in business subjects such as accounting, fnance, or business law;and want to pursue the CPCU designation, you may want to:

Begin with another CPCU course that builds on your previous collegestudy or experience in the insurance industry. Because there is no pre-scribed sequence, CPCU can be taken in any order.

Begin with INS to strengthen your knowledge o insurance. (Completiono the AINS program waives CPCU 553 or the Commercial track andCPCU 557 or the Personal track in the CPCU program.)

I you want to broaden your current understanding o a specifc insurance

unction or specialty area, you may want to consider:

A specialty program that ocuses on an industry unction such as under-writing, claims, risk management, or production

A specialty program that ocuses on an insurance specialty area such asfnance and accounting, technology, surplus lines, or reinsurance

If ou woud ike assistance from he Institutes in

panning our stud: Contact our Customer Service Department at (800) 644-2101610-644-

2100 or international studentsor at [email protected]

E-mail [email protected] Complete a Sel-Inventory or Prospective Institutes Students orm and

submit it. This orm is available online in the Student Services sectionand rom Customer Service.



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CI C: IIU IFRMI

URCThis list provides Institutes students with contact inormation or orderingstudy material, registering or the Institutes exams, learning about collegedegrees using Institutes courses, and obtaining transcripts or college credit.

Contact Information Succeed, The Institutes proessional development catalog: To receive a

copy, call The Institutes Customer Service Department (800) 644-2101.

Study materials: Phone (800) 644-2101 or visit www.TheInstitutes.org

Examination registration: E-mail [email protected] orvisit www.TheInstitutes.org

Ofcial transcripts: Fax (610) 640-9576 or visit www.TheInstitutes.org

State CE credit certifcates: Visit www.TheInstitutes.org

CPCU matriculation: Fax (610) 651-7652, Phone (800) 644-2101

EOR certifcates: Phone (800) 644-2101

ACSR (Accredited Customer Service Representative) certifcates:(800) 644-2101

Information for Internationa tudents:E-mail: [email protected] and handling quotes: [email protected] site: www.TheInstitutes.org

Phone: (610) 644-2100Fax: (610) 640-9576

Canada only:Phone: (800) 644-2101

Contact InformationEducational Advising: Phone (610) 644-2100 or [email protected] site: www.TheInstitutes.orgStudent Services/Educational AdvisingGrade Analysis at www.TheInstitutes.org.



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Information about Coege Degrees Using he

Institutes CoursesSome colleges and universities accept The Institutes courses or creditstoward degrees. For inormation about these opportunities, visit the StudentServices/Earn Credits section o our Web site.

Inormation about American Council on Education (ACE)Phone: (202) 939-9434Web site: www.acenet.edu

Mailing address:College Credit Recommendation ServiceAmerican Council on Education1 DuPont Circle, NWWashington, DC 20036



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The Institutes

720 Providence Road, Suite 100 | Malvern, PA 19355-3433

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www.TheInstitutes.org

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