AAii 302 Insurance Operations & Finance study plan

Map the full Insurance Operations domain outline into a one-page topic tree covering underwriting, policy administration, claims, distribution, and reinsurance touchpoints.

Define in your own words the policy lifecycle from submission to renewal, writing one sentence per stage transition.

Build a 20-term glossary of operations vocabulary (e.g., binder, endorsement, loss run, subrogation) with a one-line definition for each.

Draft five self-test questions on underwriting and policy issuance and answer them closed-book.

Trace the claims handling workflow from first notice of loss through settlement, noting where reserving decisions occur.

Compare three distribution models (agency, brokerage, direct) on commission structure and servicing responsibility.

Explain how reinsurance interacts with underwriting capacity and claims exposure in a 200-word written summary.

Solve ten practice items on claims and distribution and log every miss with the reason it was missed.

Identify the operational controls and compliance checkpoints that appear most often in exam scenarios (e.g., licensing, market conduct, data privacy).

Work through four scenario-style questions on operational failure and write the corrective action for each.

Summarize the regulator's role in operations in a half-page brief without consulting notes.

Re-test all previously missed operations items and record which ones are now resolved.

Complete a timed 25-question operations set under exam conditions and score it.

Categorize every wrong answer by root cause (terminology gap, process gap, or misread question).

Re-teach the two weakest operations subtopics by writing a short explainer for each from memory.

Recite the policy lifecycle and claims workflow aloud without prompts to confirm retention.

Build a formula sheet covering loss ratio, expense ratio, combined ratio, and underwriting profit, with a worked example for each.

Construct a simple income statement for a fictional insurer and label every line item.

Explain the difference between statutory and GAAP reporting in a 250-word comparison.

Solve eight calculation drills by hand and check each against a calculator.

Describe how reserves are established for known, incurred-but-not-reported, and catastrophic losses, with one example each.

Trace how investment income and cash flow timing affect insurer profitability in a written paragraph.

Distinguish admitted from non-admitted assets and state why the distinction matters for solvency.

Complete ten finance practice items and rework every miss until correct without notes.

Connect operations decisions to financial outcomes by writing three short cases (e.g., faster claims settlement lowering reserve uncertainty).

Compute combined ratio for two fictional insurers from given figures and interpret which is stronger.

Run a timed 30-question mixed set spanning both domains and score it.

List the five finance concepts you are least confident in and drill each for ten minutes.

Take two full-length timed practice exams and record both scores.

Review only the items missed in week 8 and rewrite the underlying rule for each.

Recite your formula sheet and glossary from memory in a single sitting.

Finalize a one-page exam-day reference card limited to formulas and process sequences.