CPCU 530 Multiple Choice

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nmwat
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CPCU 530 Multiple Choice

Post by nmwat »

Has anyone taken the CPCU 530 Multiple Choice?
matthewwolff
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Re: CPCU 530 Multiple Choice

Post by matthewwolff »

Yes I just took it last week. It is similar to any multiple-choice exam from the AICPCU where you have 2 sections with 4 multiple choice answers. Section 1 was ~50 questions with simple questions (e.g. A business invitee is owed what duty of care? A) Extreme Care, ...) and Section 2 was 50 questions (I think) that had stories and the associated 4 options to answer.

On a side note, I tried to study directly from the Smart Guide for this test and I barely passed. There is a large number of terms in this course and you should at least work through the study guide (if you don't read the text book).
nmwat
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Re: CPCU 530 Multiple Choice

Post by nmwat »

Thank you for your response - it helps a lot.

I am taking the test on Mon. June 7th - skimmed over the text; learned all terms, reviewing applicaiton and reveiw questions from the course guide. Praying that I will pass the first time - I'll post next week. Thanks again.
BKCPCU
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Re: CPCU 530 Multiple Choice

Post by BKCPCU »

I cannot understand the study and learning attitudes taken by the recurring posts of CPCU candidates. Why are you all so intent on minimizing your study efforts in the quest to breeze through the CPCU exams with the least amount of effort possible?
The CPCU program offers a wealth of valuable information that will be with you during your insurance career. Merely skimming study guides and other such measures will deprive you of the benefits of diving deep into the various topics the program is intended to teach. You may indeed get the designation, but you will miss the learning experience and the knowledge that comes with that effort.
The group I went through the program with some twenty five years ago devoted an enormous amount of time and effort to extract every bit of information we could. The lessons learned then are still useful today.
Do not discount the opportunity to learn and further your understanding of this business by simply skimming thorugh through study guides to get the designation!!
hhrchevy
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Re: CPCU 530 Multiple Choice

Post by hhrchevy »

Stop picking on CPCU candidates for just trying to pass the exams. If CPCU really helped you with getting positions I could understand arguing the point that one should not study just to pass the CPCU exams. Sadly, my experience is that the knowledge gained by memorizing all aspects of each CPCU segment is not recognized by prospective employers. In fact, I have been insulted by many that say CPCU stands for "Can't Produce/Can't Underwrite." Experience, not alphabet soup, will help you in today's job market. The money and time I put into CPCU might help on Trivial Pursuit questions but not in the real world.
Donor Girl
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Re: CPCU 530 Multiple Choice

Post by Donor Girl »

Through matriculation you agree to be bound by a code of ethics. By breezing through these exams and not taking the time to understand their purpose it is a misjustice to the whole idea of CPCU.

If you truly believe that you won't get anything out of it and it won't further your career in the insurance industry; why then are you even bothering?

I am working on the fourth one now- which is incredibly difficult. I am putting an enormous amount of study time into this and I'm not sure I will even pass. I already have AAI, API, AIS, and cert for INS so two of my tests for CPCU are waived. After the one I'm working on now- I will have two remaining which I hope to finish this year.

If someone, who works in this industry, can't or won't respect the time and effort it takes to work on these designations then I certainly hope I wouldn't have to work with them in the future. A person who would criticize and say the CPCU stands for "Can't Produce/Can't Underwrite" shows their lack of education in our field. Perhaps that type of person is too intimidated to attempt the program? As a CPCU candidate- you should encourage others to participate and not just try to skim your way through. It's extremely disrespectful to us who have put our hard work into it.
nmwat
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Re: CPCU 530 Multiple Choice

Post by nmwat »

I passed the CPCU 530 exam yesterday!! The test was very challenging. The CPCU program so far is a wealth of informaiton and I do want to learn as much as I can.

I really don't feel I skimmed through the material; I simply shared my test taking strategies, I am working on one Unit per year - work demads & family keeps me busy. Please comment and share your strategies to earning the CPCU.
susqugirl

Re: CPCU 530 Multiple Choice

Post by susqugirl »

I just took my seventh CPCU exam yesterday. As someone who does take this designation very seriously, I am disappointed at some of the feedback from those condoning the use of study aids. Everyone learns differently. I readily admit I rely heavily on separate study aids. My preferred guide is Ray Burnham’s texts. For me, the Burnham books manage to summarize all the key objectives and drill down a good amount all in a matter of 3 - 6 pages per chapter. When I need more information, I then refer to the CPCU text.

I have taken exams both with and without the aid of Burnham and I have consistently done better on the exams where I used his books. I spend just as much time studying with the Burnham material as I did without it so it is not a matter of taking a short cut. This method is simply easier for me to comprehend the material than only reading the CPCU text book cover to cover. The end objective is the same. Learn the material and know it well. I am extremely proud of what I have accomplished thus far and I make no apologies for doing what I need to do to learn.
TRacer
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Re: CPCU 530 Multiple Choice

Post by TRacer »

Good Morning—

As someone who completed the “old/old”/Blue Book essay question-only program back when Gregorian chants were considered pop music, I completed half the curriculum using just the CPCU texts and study materials, and the other half using the Burnham method. Both are effective in their own way, as I was taking two or three parts at a time, depending on my circumstances. I learned a great deal particularly in the commercial realm, as I was starting off in personal lines. I still keep a few selected CPCU textbooks (3/4/8) around as handy reference for those days when I have brain fade; one of those texts still has wrinkled pages from the time I fell asleep with my face in the book, and drooled in it. Ah, good times…good times… :P

As far as respect goes, at the time my CPCU (and INS) did help my advancement in the organization, as only three people in the department of 250 in which I worked had them, and the other two were senior management two levels up. I was asked to conduct INS classes as they were short on instructors, which I very much enjoyed doing. When I went out to visit agents, I was treated with more respect when they saw my business card which was most helpful, as I was in my mid 20s. I mentored other CPCU students, some of whom were much older than I. It made a huge difference in my professional development. Having a CPCU also has educational benefits later on, as several colleges offer accelerated graduate programs targeted toward CPCUs.

I take the “Cant Produce/Can’t Underwrite” jokes good-naturedly. In fact, years ago when I was in field underwriting I had to carry a Polaroid instant camera (they used something called instant film) with me, and I’d often say that my CPCU stood for “Chief Polaroid Camera Underwriter” when I was asked. It was great way to break the ice with insureds or clients, but there was no resentment at all. Since then I have added my CLU, ChFC, ARe and AIS, and am working on my ARM now. Will it help me advance in my current organization? No. In my view, though, if you stop learning, you stop growing; for the posters in this thread working on their CPCU, keep it up!

I do have a caveat, however: if you become a casualty of the new economy as I did in 2009, you will likely be viewed as being overqualified during the job-hunting process; been there / done that / have a number of T-shirts.
Morgan Hayden, CPCU CLU ChFC ARe AIS
nmwat
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Re: CPCU 530 Multiple Choice

Post by nmwat »

Great feedback, confirmation & encourangement to cotinue on the CPCU pursuit!!....I just hope none of you work for Mr. Burnham..otherwise this would be cheap adverstisement, ha ha.
Victoria860
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Re: CPCU 530 Multiple Choice

Post by Victoria860 »

I haven't taken 530 yet, but will have to eventually. I started off with 553 and missed it by one point. I read the textbook cover to cover, used the study aids and took practice exams. Boy did I learn a lot.

Everyone recommends this Burnham System, but the cost is astronomical. As someone who has to fund my own education I can't afford what is charged for the Burnham System aids. Granted it seems to help a lot of people, but I can barely rub two pennies together to afford my CPCU classes now.

I don't know what my point is. Probably just to vent about the cost.

Either way, I hope everyone working on their CPCU continued success and I will continue on mine. One hiccup does not constitute defeat in my book. Of course it does throw off my CPCU schedule to attain my designation.
Victoria Lovinggood, ACSR, CISR, CPIW, CRIS, DAE
hhrchevy
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Re: CPCU 530 Multiple Choice

Post by hhrchevy »

Yes, TRacer, I too have multiple desigations (some I just let go because I could not keep up with all of the CE requirements). I have 40 years in the field, 6 active designations and a Masters degree--I think "overqualified" is the problem although I am not looking for a huge salary by any means. I have posted that I do not think students need to learn everything on the pages of the CPCU texts, just enough to pass the exams. You can go crazy trying to get 100% but that will not help you land a job. PLUS, insurance policy wording/concepts/rating methods change all of the time so memorizing each course from soup to nuts does not make sense.

Use of the outside systems to get through CPCU requirements in a relatively short period of time is no crime. It is also not unethical as one of the posts indicated.

Good luck everyone. I hope your efforts are rewarded.
AssociatePI
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Re: CPCU 530 Multiple Choice

Post by AssociatePI »

matthewwolff wrote:Yes I just took it last week. It is similar to any multiple-choice exam from the AICPCU where you have 2 sections with 4 multiple choice answers. Section 1 was ~50 questions with simple questions (e.g. A business invitee is owed what duty of care? A) Extreme Care, ...) and Section 2 was 50 questions (I think) that had stories and the associated 4 options to answer.

On a side note, I tried to study directly from the Smart Guide for this test and I barely passed. There is a large number of terms in this course and you should at least work through the study guide (if you don't read the text book).
You're right about this one! The CPCU 530 has a TON of definition based questions. I think the definitions are the most important aspect of this exam, definitely focus on memorizing the definitions of the 530

Also, you're almost spot on with the number of part A questions, there's 55 part A questions and 30 part B questions on the CPCU 530 exam

I also did a quick write up about the CPCU 530 difficulty that might help those of you currently studying for the exam
http://associatepi.com/cpcu/ provides free content for the CPCU designation including practice exams, study guides, exam reviews and online courses. Pass your exam in less time with less studying
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