BIBF Award for Certified Insurance Practitioner study materials
BIBF Award for Certified Insurance Practitioner study resources

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

Week 1

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

Week 2

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

Week 3

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

Week 4

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

Week 5

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

Week 6

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

Week 7

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

Week 8

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