CPCU 520 study plan

Map the full CPCU 520 body of knowledge into a one-page outline by listing each major insurance-operations function (underwriting, claims, risk control, actuarial, IT, customer service, distribution, finance) and noting where they intersect.

Define the term 'insurance operations' in your own words and write a 150-word explanation distinguishing it from insurance strategy and insurance regulation.

Identify the internal and external stakeholders of an insurer's operations and record what each stakeholder needs from operations.

Build a running glossary file and seed it with at least 20 operations terms you encounter this week, each with a one-sentence definition.

Explain how underwriting and claims decisions flow into pricing, reserving, and financial reporting, and diagram that flow.

Compare the roles of underwriters, claims adjusters, and actuaries in controlling adverse selection and moral hazard.

Analyze how customer service and distribution choices affect retention and loss ratio outcomes.

Write out three realistic operational trade-offs (speed vs. accuracy, cost vs. service, centralization vs. local authority) and state which side you would favor and why.

Describe the impact of technology and data (automation, analytics, telematics, digital distribution) on each operations function you mapped in week 1.

Evaluate the operational risks introduced by legacy systems and by rapid digital transformation.

Summarize how regulatory and compliance requirements constrain operational design in insurance.

Draft 10 practice questions of your own on operations fundamentals and answer them without notes.

Synthesize weeks 1-3 into a single narrative of how an insurer's operations functions work together end to end.

Diagnose your three weakest subtopics from the week 3 self-test and re-study each one.

Practice applying operations concepts to a hypothetical insurer scenario and write a structured response.

Recite from memory the core functions, their key metrics, and their main risks.

Analyze operational performance measurement by matching each function to the metrics it is judged on (loss ratio, expense ratio, cycle time, hit ratio, retention).

Explain how operational efficiency and effectiveness differ and give an example of each in an insurer.

Examine how outsourcing, shared services, and vendor management change operational control and risk.

Write a 300-word assessment of how an insurer should balance cost reduction against service quality.

Explain how change management and organizational structure affect the success of operations initiatives.

Identify the people and culture challenges that arise when operations processes are redesigned.

Analyze how catastrophe events and surges stress claims and underwriting operations and what preparedness looks like.

Answer 30 mixed practice questions under timed conditions and categorize every error by root cause.

Review your full glossary, error log, and notes and consolidate them into a single condensed review sheet.

Re-teach the hardest three concepts aloud or in writing as if explaining them to a new hire.

Complete a second full-length timed practice set and compare your score against week 4 and week 6 results.

Close every remaining gap flagged in your error log.

Recall the complete operations framework from memory in a 10-minute brain dump and check it against your review sheet.

Drill only your flagged weak areas, spending no time on already-mastered material.

Simulate exam conditions with one final timed set and confirm pacing and accuracy targets.

Finalize a test-day plan covering timing strategy, question-flagging rules, and stress management.