Professional Designations
The Katie School encourages students seeking a career in insurance to pass as many courses as possible leading toward industry designations and certifications. Related designations are:
- AIC - Associate in Claims
- ARM - Associate in Risk Management
- ARe - Associate in Reinsurance
- CPCU - Chartered Property and Casualty Underwriter
- INS - Program in General Insurance
- RPLU - Registered Professional Liability Underwriter
Contrary to appearances, these designation programs are not limited to people seeking a job in underwriting. The courses apply to all functions of the insurance and finance industries. Although it is unlikely that a student would be able to attain a full designation before graduating, it is possible to successfully complete one or more of the required courses.
CPCU Course Waivers
You can earn two course waivers towards the CPCU designation through The Institutes. To qualify, students must earn a "B" or better as their final grade in approved coursework. More information and the online application for the waiver is available here.
At the page, the student will be prompted by The Institutes to fill out a waiver application requesting personal information and details on which class, who the professor was, and a copy of his/her transcript. The student can request a printed transcript at the ISU Registrar’s Office, scan it to a PDF file, and attach it to the waiver application. Students will need to have an Institutes account to submit the waiver application, and please allow 10 business days for The Institutes to process the request.
CPCU Similar Material
The following courses and CPCU exams have similar material.
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CPCU 551 - Commercial Property Risk Management and Insurance
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FIL 350 - Property Insurance |
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CPCU 520 - Insurance Operations, Regulations, and Statutory Accounting
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FIL 355 - Insurance Company Operations |
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*Two-thirds of the CPCU 520 material is covered in FIL 355.
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The CPCU Society
Pursuing a CPCU designation has many benefits. Katie School students who are taking CPCU exams have the opportunity to be selected to attend the CPCU Society Annual Meeting each year with sponsorship provided by the Central Illinois CPCU Chapter
Awards
The Katie School supports students pursuing professional designations by providing students with:
- $230 award for passing any CPCU or ARM exam
- $150 award for passing any ARe or AIC exam
- $100 award for passing any INS exam
Please note that all awards are paid to the ISU Financial Aid Office and credited to the student's account. To be eligible for the CPCU award a student must successfully complete the CPCU course and apply for the award while enrolled as a student at Illinois State University.
FIL 287 Independent Study
Started in January 2010, students can earn 3 credit hours for an independent study in insurance (CPCU/IIA) or finance (only ChFC) by following these steps:
- Obtain the FIL Independent Study Enrollment Form from the FIL department in SFH 434
- Contact a professor that will serve as your sponsor for the independent study. With this professor, you will:
- Sign a contract with them verifying grading scale and plan of study
- Obtain the professor's signature on the FIL Independent Study Enrollment Form
- Turn in the contract and FIL Independent Study Enrollment Form to the FIL department in SFH 434 to get approved by the FIL department head
- Once it is approved, you will have an override to register for FIL287
- Remember, you must follow the Exam Details instructions in order to register for the exam through The Institutes
FIL 287 Independent Study Sponsors
The sponsorship list includes, but is not limited to:
- Dr. Yayuan Ren
- Dr. Tice Sirmans
- Jim Jones
How to navigate the CPCU exams as a part of your Indepent Study course. - The independent study allows students to further their learning outside of the classroom. While the 'course' is led by a sponsor (professor), the preparation and studying for the exam is solely up to the student. Throughout the semester, students will determine checkpoints with their sponsor in which they will share their progress.
Insurance Licensing Exams
The Katie School will reimburse students for up to $225 for insurance license exams required for internships. Reimbursement is after students have passed the license exam, and the awards will be paid to the ISU Financial Aid Office and credited to the student’s account.
Benefits of the CPCU Designation
The American Institute for CPCU and Insurance Institute of America surveyed designation holders about the value of such a designation and found that:
- 99% say they gained technical property-casualty insurance knowledge as a result of earning the designation
- 97% say earning the designation resulted in professional recognition
- 92% say earning the designation helped them prepare for their long-term career goals
- 91% say earning the designation provided them with increased job opportunities
- 86% say earning the designation increased their job security during organizational transitions or consolidations
- 85% say earning the designation fast-tracked their career progression
- 83% say earning the designation helped them prepare for their current job responsibilities
- 78% earn more than $60,000 annually