Earning Your CPCU

Earning Your CPCU

Introduction

If you want to succeed in insurance, you must continue your education. How? Simple!
The Institutes offer the best property-casualty insurance education courses anywhere.

Consider
the CPCU^Ž The Silver Anniversary (9/76) issue of the CPCU^Ž Journal gives the incomes of CPCUs who’d had their designations for 25 years.
Applying simple estimates, their median income was about $43,000 in 1974.
(Median incomes are substantially lower than average incomes.)
That’s about $181,000 in current, 2007, dollars.
(See http://data.bls.gov/cgi-bin/cpicalc.pl.)
Twenty-five years earlier, their median income had been about $5,400.
That’s about $47,000 in current, 2007, dollars.

Earning the CPCU (and 25 years of experience) almost quadrupled their incomes (from $47,000 to $181,000 in current, 2007, dollars).

What’s in
it for you? If earning the CPCU accounted for only 40% of the difference (How’s that for a conservative estimate?) and if the difference increased steadily over time, then earning the CPCU would be worth about $804,000 in current dollars over a 30-year period.

Since we used medians, not averages (which are higher), we’re safe saying that earning the CPCU is probably worth more than $800,000 over your working career.

That’s over $100,000 per course!

Could just one course per term for just eight terms really raise your lifetime earnings by anything like $100,000 per year?

Simply, yes.

What’s the cost?

Institute Fees Matriculation: $75.
The Institute textbooks and course guides: $1,268.

Shipping cost for the texts and course guides: $127.

Examination fees: $2,628.
(Based on $230 per course and a 70% pass rate.)

Cost of Time: $13,370.
(7.8 hours per assignment × $10.00 per hour / 70% pass rate)
(I bet you earn over $20,000!)

Total cost: about $18,500---more if you earn over $20,000 per year.

The Burnham
System Fees

The real cost of
The Burnham
System ...

A savings of
about 50%

The real cost of
not using
The Burnham
System ...

A higher chance
of never becoming
a CPCU
The Burnham System: $2,360 for the entire set, $295 per course.
Examination fee: $1,935.
(based on the average reported Burnham System pass ratio of 95.1%)

Cost of time: $5,400.
(4.28 hours per assignment × $10.00 per hour × 120 assignments / 95.1% pass rate)

Total Cost: about $9,695.

Yes, if you earn $20,000, using The Burnham System will lower your total cost
from about $18,500 to about $9,695

Yes, using The Burnham System cuts your real cost of earning the CPCU - or any designation- about in half.

By the way, only about 28% of those who matriculate to earn the CPCU ever earn the CPCU.

Simply, 72% drop out of the program.

Why and when do they drop out?
Here's my guess: they get one or more Non-passing grades and then drop out ... the dreaded N.

If the chance of getting a P is 70%,
then, the chance of getting an N is 30%.

The chance of getting eight Ps in a row would be
70% X 70% X 70% X 70% X 70%70% X 70% 70%.
That equals 4%.

With The Burnham System, the chance of getting eight Ps in a row would be
95% X 95% X 95% X 95% X 95% X 95% X 95% X 95%.
That equals 66%.

That difference is the true cost of not using
The Burnham System ... a much higher chance of
never becoming a CPCU.
ORDER The Burnham System for CPCU

Frequently Asked Questions about THE BURNHAM SYSTEM for CPCU/IIA
Which CPCU/IIA series should you take?
Will Your Company Pay for The Burnham System?

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