The Katie School supports students pursuing professional designations by:

• Paying a portion of the student's exam fees (Exam Fee details)
  
• Offering a one-day review course, if enough students express interest
  
• Providing students with a $230 award for passing any CPCU exam including CPCU 557.
• Paying all but $30 for the admission fee for the ChFC program.
  
• Providing students with a $150 award for passing any ARM, ARe, or AIC exam.
• Providing students with $100 award for passing any INS exam.
• ALL AWARDS ARE PAID TO THE ISU FINANCIAL AID OFFICE AND CREDITED TO THE STUDENT'S ACCOUNT.
  
• Providing on-site exam center
• Providing independent study credits for successful completion of pre-approved CPCU courses

To be eligible for the CPCU award a student must successfully complete the CPCU course and apply for the award either while enrolled as a student at Illinois State University, or within six months of graduation.

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.  Credits may be obtained for the following:

AIC - Associate in Claims

ARM - Associate in Risk Management

ARe - Associate in Reinsurance

CPCU - Chartered Property and Casualty Underwriter

INS - Program in General Insurance

ChFC - Chartered Financial Consultant

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. Completion of these courses before graduation would likely enhance the job prospects for a student and give students a head start once they have entered the industry.

 

CPCU/IIA

The new CPCU program is eight parts with the option of taking two different paths.  Path 1 is the Commercial Insurance Concentration, and Path 2 is the Personal Insurance Concentration.

Pursuing a CPCU designation has many benefits.  For instance, two Katie School students in pursuit of their CPCU designations, Stacey Hinterlong and Susan Lipps, were sent to the 2009 CPCU Society Annual Meeting and Seminars in Denver, CO on scholarships sponsored by the Central Illinois Chapter.  Stacey shared her experience in the November edition of the CPCU Society magazine Personally Speaking. Advice that she gained from a number of industry professionals was to pursue the designation as early as possible.  Read her entire article by following the Personally Speaking link.

Much of the insurance coursework offered through the Katie School corresponds with the material included in some of the CPCU exams on either of these paths.  The following courses and CPCU exams have similar material:

CPCU 557 – Survey of Commercial Risk Management and Insurance
Corresponding Coursework:	FIL 350 - Property Insurance FIL 352 - Liability Insurance
Corresponding Material:   View the material required for the CPCU 557 exam	Property Risk Control (350) Liability Risk Control (352) Overview of Commercial Insurance (350) Commercial Property Insurance, Part I (350) Commercial Property Insurance, Part II (350) Business Income Insurance (350) Commercial General Liability Insurance, Part I (352) Commercial General Liability Insurance, Part II (352) Commercial Auto Insurance (352) Workers Compensation and Employers Liability Insurance (352) Miscellaneous Coverages (350)
* Over 75% of the CPCU 557 material is covered in FIL 350 and FIL 352.

CPCU 520 - Insurance Operations, Regulations, and Statutory Accounting
Corresponding Coursework:	FIL 355 - Insurance Company Operations
Corresponding Material:   View the material required for the CPCU 520 exam.	Overview of Insurance Operations Insurance Regulation Insurance Marketing Underwriting The Claim Function Reinsurance Insurer Financial Statements Interpreting Insurer Financial Statements Insurer Financial Management Insurer Strategic Management and Global Operations
*Two-thirds of the CPCU 520 material is covered in FIL 355.

CPCU 540 - Finance for Risk Management and Insurance Professionals
Corresponding Coursework:	FIL 287.02 - Independent Study in Finance for Insurance Students
Corresponding Material:   View the material required for the CPCU 540 exam.	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 Mergers and Acquisitions
* This independent study is designed to take students through all of the material required for the CPCU 540 exam.

As for the exam itself, the American Institute for CPCU offers CPCU exams during four time windows:

• January 15 – March 15
• April 15 – June 15
• July 15 – September 15
• October 15 – December 15

For more information regarding the CPCU designation, exams, and learning materials visit AICPCU.org.

Independent Study:

Started in January 2010, students wishing to earn 3 credit hours for independent study in insurance are encouraged to sign up with Dr. Flanigan in COB 427.  The independent study will be based on the CPCU 540 curriculum (Finance for Risk Management and Insurance Proffessionals) and will include multiple review sessions for students. For more information see the information sheet or contact Dr. George Flanigan or Jim Jones.

These exam fees will be paid for by the Katie School with the proper paper work. Please come into room 432 of the COB for these forms.

 

ChFC

In view of the new minor in Financial Planning offered by the Finance, Insurance and Law Department and the Katie School of Insurance and Financial Services industry partner’s desire for students to have enhanced financial acumen, and professional designations, the Katie School is encouraging participation in the Chartered Financial Consultant curriculum.

In January 2010, students wishing to earn 3 credit hours for independent study in finance are encouraged to sign up with Dr. Edgar Norton in COB 424. The Independent Study will be based on the Chartered Financial Consultant program (ChFC) offered through the American College.

For more information about the ChFC designation, curriculum, and materials visit the ChFC Advanced Financial Planning Programs of Study page.

Katie Sponsorship Policy for ChFC Program

The Katie School will pay all but $30 for the admission fee for the ChFC program. Students will need to register for the exams and purchase the study materials including supplemental study guides from the American College. Students should keep their receipts throughout this process. Upon successful completion of any of these exams, the Katie School will reimburse the students the cost of their tuition (including books and materials with receipts).

For more information regarding the ChFC independent study please see the information sheet or contact Dr. Edgar Norton or Jim Jones