CPCU®
Chartered Property Casualty Underwriter®
CPCU® Curriculum
To learn more about CPCU®, please select one of the options below:
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Candidates must pass eight examinations through the American Institute for CPCU and Insurance Institute of America-one for each of the five required
courses and three concentration courses—to earn the CPCU® designation:
Click on each course name below to view the course description and difficulty ratings ranging from 1 (easy) to 10 (difficult).
Required Courses
Difficulty: 6
Topics Covered: Code of Ethics, Risk, Understanding Risk Management, Risk Assessment, Risk Control, Risk Financing,
Financial Services and Insurance Markets, Insurance Mechanism, Insurable Risks, Legal Environment of Insurance, Insurance Policy,
Insurance Policy Analysis, and Amounts Payable
Difficulty: 5
Topics Covered: Insurance Operations, Regulation of Insurance, Insurance Marketing, Underwriting Property Insurance,
Underwriting Liability Insurance, Ratemaking, Property Claim Adjusting, Liability Claim Adjusting, Reinsurance, Insurer Financial Statements,
Insurer Financial Management, and Insurer Business Strategy and Global Operations
Difficulty: 9
Topics Covered: U.S. Law and Regulation; Contract Law: Contract Formation, Agreement, Legal Capacity, Consideration,
Legal Purpose, Genuine Assent, Form, Interpretation, and Obligations; Insurance Contract Law; Commercial Law; Property Law; Tort Law: Negligence,
Intentional Torts, Products Liability, Environmental Torts, Special Liability, and Litigation Concepts; Agency Law; Insurance Applications
of Agency Law; Employment Law; Business Entities; and the International Legal Environment of Insurance
Difficulty: 10
Topics Covered: Basics of Corporate Finance, Financial Statements, Sources of Additional Financial and Nonfinancial
Information, Financial Statement Analysis, Working Capital Management, Time Value of Money, Discounted Cash Flow Valuation, Bonds and
Stocks, Operating Environment and Corporate Finance, Insurer Investment Strategies, Insurer Income and Dividend Policy, Insurer Capital:
Needs and Sources, Capital Structure of Insurers, Making Capital Investment Decisions, and Mergers and Acquisitions
Difficulty: 8.5
Topics Covered: Financial Markets, Federal Reserve, Money Markets, Bond Markets, Stock Markets, Derivative Securities,
Commercial Banks, Regulation of Commercial Banks, Other Lending Institutions, Insurance Companies, Securities Firms and Investment Banks,
Mutual Funds, Pension Funds, and Risks Incurred by Financial Institutions
Choose Your Concentration*
Commercial Lines (with personal survey)
Difficulty: 7
Topics Covered: Property Loss Exposures; Building and Personal Property Coverage; Causes of Loss Forms; Flood,
Earthquake, and Specialty Forms; Business Income; Inland Marine and Ocean Cargo; Crime; Equipment Breakdown; Businessowners and Farmowners;
and Surety Bonds
Difficulty: 7
Topics Covered: Liability Loss Exposures, Liability Risk Control, General Liability Insurance, Business Auto Insurance,
Garage and Motor Carrier Insurance, Workers' Compensation and Employers' Liability Loss Exposures, Workers' Compensation and Employers' Liability
Insurance, Management Liability Loss Exposures and Insurance, Professional Liability Loss Exposures and Insurance, Environmental Loss Exposures
and Insurance, Aviation Loss Exposures and Insurance, Excess and Umbrella Liability Insurance, and Advanced Risk Financing Techniques.
Difficulty: 7.5
Topics Covered: Automobile Insurance and Society, Personal Auto Policy, Homeowners Insurance, Other Residential Insurance,
Other Personal Property and Liability Insurance, Personal Loss Exposures and Financial Planning, Life Insurance, Health and Disability Insurance,
Investment Planning, Planning for Retirement, and Estate Planning
Personal Lines (with commercial survey)
Difficulty: 8
Topics Covered: Personal Risk Management, Homeowners Insurance, Homeowners Endorsements and Variations, Personal Auto,
Recreational Vehicles, Developing Personal Insurance Products, Underwriting Profitability, Pricing Personal Insurance Products,
Reunderwriting Personal Insurance Portfolios, and Gaining Efficiencies in Personal Insurance Operations
Difficulty: 7.5
Topics Covered: Life Insurance and Social Security; Health, Disability, and Long-Term Care; Basic Investment Principles;
Equity and Fixed-Income Investments; Mutual Funds; Asset Allocation; Income Tax Planning; Planning for Retirement; Estate Planning;
and Financing Education Expenses
Difficulty: 8.5
Topics Covered: Commercial Property, Business Income, Commercial Crime, Equipment Breakdown, Inland and Ocean Marine,
Commercial General Liability, Commercial Auto, Businessowners, Farm, Workers Compensation and Employers Liability, and Risk Control
* Courses may not be combined from both concentrations.
Please view the AICPCU/IIA Website
for additional details