What is the CPCU® 500
The CPCU® 500 exam consists of 60 multiple choice questions broken up into two sections, part A and part B.
- Part A: Concept questions – The first section of the exam will be approximately 40 concept questions; these questions will test your understanding of a definition or topic.
- Part B: Case questions – The second section of the exam will be approximately 20 case questions; these questions will require you to apply your knowledge to a specific scenario or event.
This exam is the first exam in a series of eight exams required to earn the Chartered Property Casualty Underwriter designation (CPCU®). The concepts of the CPCU® 500 exam build the foundation upon which the remaining CPCU® exams will be focused, it is vital to fully understand the concepts of the CPCU® 500 exam.
The CPCU® Designation
For more information about the CPCU®, see our Chartered Property Casualty Underwriter (CPCU®) blog.
CPCU® 500 Exam – Difficulty
The CPCU® 500 exam is not too difficult. If you have experience in the insurance industry, you should not have trouble with the concepts of the CPCU® 500 exam. One of the main focus of this exam will be on risk control and risk financing techniques, which are used daily in the life of an insurance professional.
The hardest part about the CPCU® 500 exam is preparing for the type of questions that will be asked. These questions will be tricky, worded strangely and will not directly quote any study material. This means that you must understand how to APPLY the material you have studied, not just simply repeat definitions.
CPCU® 500 Exam – Topics
The major focus of the CPCU® 500 exam is risk and risk management techniques used by individuals and organizations. The main topics covered in this exam include Risk, risk management, risk control, risk financing, insurance, and big data.
A majority of the questions on this exam will be based on how individuals and organizations can use risk control and risk financing techniques, such as insurance, to mitigate risk. These questions will require you fully understand the job of a risk management professional and how various techniques can help to reduce the severity and frequency of loss.
Free Practice Exam
Ready to get started studying? We’re here to help (for free). Download our free CPCU® 500 practice exams to get a feel for the type of questions you will see on the exam.
For more information about the CPCU® 500 exam, checkout some of our other free resources:
- CPCU® 500 exam difficulty
- CPCU® 500 exam questions
- CPCU® 500 exam format
- CPCU® 500 – what to expect
- CPCU® 500 video series
- CPCU® Designation Overview
- CPCU® Designation Salary
- CPCU® Cost
- CPCU® Exam Pass Rates
Remember, every CPCU® exam is different. No single exam is the same. Be sure to study ALL topics (not just our recommendation). This resource is intended to provide you with a general idea of where your focus should be. Make sure to thoroughly study every topic of this exam.
Difficulty rank and importance rank are solely the opinion of AssociatePI. This resource is intended to provide you with a general idea of where your focus should be. Each exam administered by The Institutes is different. AssociatePI is not affiliated with The Institutes or involved in the exam writing process. Please be sure to thoroughly study every chapter and every topic of this course.
CPCU® exams are administered by the American Institute for Chartered Property Casualty Underwriters (“The Institutes”). AssociatePI does not administer the actual exams, we are an independent resource of free content, advice, and study material for professional insurance education. This blog is intended for informational purposes only, to inform prospective students of the benefit of the CPCU® designation.
CPCU® and API™ are trademarks of the American Institute for Chartered Property Casualty Underwriters (“The Institutes”). AssociatePI LLC is not affiliated with, associated with, endorsed by or otherwise supported or recognized by The Institutes in any way. AssociatePI LLC is not authorized by The Institutes to offer courses, practice examinations, or any other resources related to the Institutes’ designations or other programs.
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