What is an AIS designation?
Key Takeaways. The Associate in Insurance Services, or AIS, is a professional designation in the insurance industry. The designation stresses general knowledge about the industry, its practices, and regulatory rules.
What is the highest insurance designation?
The Top 5 Insurance Designations
- 1) Chartered Property Casualty Underwriter (CPCU®) …
- 2) Certified Insurance Counselor (CIC) …
- 3) Certified Risk Manager (CRM) …
- 4) Associate in Risk Management (ARM™) …
- 5) Associate in General Insurance (AINS™) …
- Bonus: Associate in Personal Insurance (API™)
What is the API designation?
The Associate in Personal Insurance (API) is a professional certification in the insurance industry. As its name suggests, the API is focused on personal lines insurance, which is the type of insurance that protects against personal injury, death, or loss of property.
Is CIC designation worth?
Something worth noting about the CIC is the annual continuing education you must pass in order to maintain this designation. Many in the industry believe this to be the most credible designation solely based off of this renewal obligation.
Do insurance designations matter?
The CPCU designation not only gives an agent expertise in the underwriting process, but it also gives understanding of insurance company accounting, how insurance companies determine how they will insure certain risks and knowledge of legal issues in the insurance industry.
What does CPCU mean in insurance?
Chartered Property Casualty Underwriter
Chartered Property Casualty Underwriter (CPCU) is a professional certification issued by The Institutes and earned by risk management and insurance professionals.
Is the ARM designation worth it?
The ARM would be recommended if you are considering an area that is associated with claims which involves risk such as a general Risk Manager. Attaining the ARM designation would keep one very flexible and ahead of the pack when looking to advance in the claims profession.
What does AU mean in insurance?
Associate in Commercial Underwriting
An Associate in Commercial Underwriting (AU) is a professional credential awarded to a financial professional qualified to evaluate risk for commercial insurance companies.
What is an asli?
Associate in Surplus Lines Insurance (ASLI) is a professional designation for agents, brokers, risk managers, underwriters, claims professionals, regulators and other professionals who work in the surplus lines insurance industry. The Institutes, an industry education and accreditation body, awards the designation. 1
Why is it called underwriting?
The term underwriter originated from the practice of having each risk-taker write their name under the total amount of risk they were willing to accept for a specified premium.
How do you get AU designation?
The first step towards earning your AU designation is to complete and pass the exam for these core courses.
- AU 60: Evaluating Commercial Underwriting Risks.
- AU 61: Underwriting Organizations’ Property Risks.
- AU 62: Underwriting Organizations’ Liability Risks.
How difficult is the CPCU?
The CPCU® exams are tough; the average pass ratio of a CPCU® exam is around 74%. That means on average 1 out of every 4 will fail the CPCU® exam. You can see the pass rate of each CPCU® exam here.
What grade do you need to pass a Cpcu exam?
The passing grade for the CPCU® 551 exam is 70%. This means you must answer 70% of the questions correctly to receive a passing grade on the CPCU® 551.
Is designation a reinsurance?
The ARe is a professional designation used in the reinsurance sector. To obtain it, candidates must take a series of self-taught courses and exams. The topics covered in the ARe program include the regulation of the reinsurance industry, industry best practices, and financial accounting, among others.
ARe 144 institutes?
ARe 144: Reinsurance Principles and Practices
Develop a clear understanding of reinsurance types and common reinsurance treaties.
How long is an ARe designation?
On average, it takes most students roughly two to five years to complete the program. Refer to our website for the exam rules, regulations, and for information on exam results availability.
How can I get designation on my arms?
The ARM™ designation is achieved after the completion of a series of three exams and an ethics requirement course. Each exam is multiple choice with a pass-fail grade of 70%. You must score a 70% or higher on each exam to pass.
Is the ARM designation hard?
According to nationally published ARM™ pass rates, the ARM™ 401 is one of the hardest exams published by The Institutes. The pass rate is typically around 72% or lower. This means, out of everyone that attempts the ARM™ 401 exam, 72% pass. In terms of pass rate, this exam is more difficult than most CPCU® exams.
How long does it take to complete ARM designation?
“It includes strategic, operational and reputations risk in addition to the more traditional insurable risks,” Pilotti said. On average, the timeline for obtaining the ARM designation is between 9-15 months. However, some designees were able to complete and obtain the ARM much more quickly.
Is the arm exam open book?
The ARM certification exam is an open-book exam with 100 multiple-choice questions covering topics in residential property budgeting, human resources, risk management, leasing, and more. And, it’s available as part of the ARM Track in the classroom or online.
Does ARM designation expire?
No, designations do not expire.
How many questions are on the arm 400?
The ARM™ 400 exam consists of 50 multiple-choice questions in the virtual exam. The virtual ARM™ exams will be 65-minutes long. Meaning, to answer every question before the time runs out, you should plan on spending about 1 minute and 18 seconds to answer each question (50 questions in 65 minutes).