BIBF Award for Certified Insurance Practitioner study plan
BIBF Award for Certified Insurance Practitioner · Give each week a clear focus.
8 weeks · About 6 hours per week
Insurance Principles and Risk Management & Property and Casualty Insurance
Define the six characteristics of insurable risk and classify twelve given exposures against them
Distinguish indemnity, insurable interest, subrogation, and utmost good faith, and state how each shapes a policy clause
Map the standard property coverage forms (dwelling, commercial property, inland marine) to the perils they insure
Compute a coinsurance penalty on three sample losses and explain the result in plain language
Your checkpoint
A one-page risk-and-coverage matrix scoring twelve exposures against insurable-risk criteria and naming the matching property form for each
Property and Casualty Insurance & Underwriting and Risk Selection
Compare occurrence, claims-made, and aggregate liability triggers using three short fact patterns
Apply the CGL coverage parts and exclusions to decide coverage on five hypothetical claims
Identify the underwriting information needed to rate a small commercial package account
Explain how deductibles, limits, and endorsements change the retained risk for a commercial insured
Your checkpoint
A written coverage determination for five liability claims, each with the governing form, exclusion analysis, and conclusion
Insurance Law, Regulation and Compliance & Insurance Operations, Ethics and Professional Conduct
Outline the regulatory framework governing producer licensing, market conduct, and rate filing
Apply the fiduciary duties of a producer to four scenarios involving premiums, disclosures, and conflicts of interest
Distinguish misrepresentation, concealment, and warranty breach and state the remedy available to the insurer
Summarize the ethical standards expected of a certified practitioner in client advice and claims reporting
Your checkpoint
A compliance checklist of fifteen regulatory and ethical obligations, each tied to a specific scenario where it applies
Life, Health and Personal Lines Insurance & Underwriting and Risk Selection
Differentiate term, whole life, universal life, and annuity products by cash value, premium structure, and risk borne
Explain underwriting of individual life and health risks using mortality, morbidity, and occupational factors
Apply personal auto and homeowners coverage to six household claim scenarios
Describe the underwriting process from application through policy issue, including inspection reports and medical evidence
Your checkpoint
A personal lines case file covering six household claims with the applicable coverage part, limit, and deductible for each
Claims Handling and Loss Adjustment & Property and Casualty Insurance
Sequence the claim handling steps from first notice of loss through settlement and subrogation
Evaluate proof of loss, investigation standards, and reservation-of-rights letters in three disputed claims
Calculate actual cash value and replacement cost settlements for property losses including depreciation
Identify indicators of fraud and describe the referral process without making accusations
Your checkpoint
A complete loss adjustment worksheet for a property claim showing ACV and replacement cost figures, documentation required, and recommended settlement
Reinsurance and Risk Transfer & Insurance Principles and Risk Management
Distinguish facultative and treaty reinsurance and pro rata versus excess of loss structures
Explain how retention, cession, and reinsurance recovery affect an insurer's net capacity and surplus
Describe alternative risk transfer methods including captives, pools, and self-insurance
Compute a simple quota share and surplus share cession on two sample portfolios
Your checkpoint
A one-page reinsurance program summary for a hypothetical insurer with retention levels, cession calculations, and rationale
Insurance Law, Regulation and Compliance & Claims Handling and Loss Adjustment & Insurance Operations, Ethics and Professional Conduct
Apply claim settlement practices standards to three scenarios involving delay, denial, and documentation
Identify the regulatory reporting and recordkeeping duties triggered by a claim or complaint
Resolve two ethical dilemmas involving claim denials and client representation using a documented reasoning framework
Explain how market conduct examinations and producer discipline interact
Your checkpoint
Two written ethical dilemma analyses with a decision, the standards applied, and the disclosure steps taken
Insurance Principles and Risk Management & Insurance Law, Regulation and Compliance & Property and Casualty Insurance & Life, Health and Personal Lines Insurance & Underwriting and Risk Selection & Claims Handling and Loss Adjustment & Reinsurance and Risk Transfer & Insurance Operations, Ethics and Professional Conduct
Complete two full-length timed practice exams and record the score by domain
Review every missed item and write the governing principle behind each error
Rehearse the five highest-frequency calculations until each is completed without notes
Build a one-page recall sheet of limits, triggers, and definitions for final review
Your checkpoint
A scored practice exam report with a domain-by-domain gap list and a one-page final recall sheet
Milestones
Week 2: Score at least 70 percent on a 40-question set drawn from Domains 1 and 3, and correctly determine coverage on four of five liability claims
Week 4: Score at least 70 percent on a 50-question set spanning Domains 2, 4, and 5, and complete the personal lines case file with all six claims resolved
Week 6: Correctly compute quota share and surplus share cessions on both sample portfolios and explain each result in writing
Week 8: Score at least 75 percent overall on both timed practice exams with no domain below 60 percent, and finish the recall sheet