CPCU Review Game Ideas for Your Study Group or Class

CPCU Review Game Ideas for Your Study Group or Class

Being part of a CPCU® or AINS® study group or class can be a helpful way to make it through the course. In today’s post, we have a few review game ideas that we’ve tested out in a classroom setting and want to share them with you here. These games provide a fun & memorable way to approach rounding up each chapter.

Game Idea #1: Family Feud-style

In all of your CPCU and AINS courses, there are numerous lists that you’ll have to remember. Those lists lend themselves very well to playing Family Feud-style game.

For those who are not familiar with Family Feud, the basic game rules are as follows:

  • Each question in the game should have multiple correct answers (ex: “Name a type of coverage that is provided by a personal auto policy.”)
  • Players are split into two teams.
  • At the start of each round, one player from each team will face off head-to-head.
  • A question is revealed or read out loud, and the first player to hit the buzzer gets a chance to give any correct answer.
  • If their answer is one of correct answers, they can choose to pass or play:
    • If they play, the rest of their team members are given a chance one by one  to give another correct answer (without consulting with each other). The goal is to guess all of the correct answers to the question, and one point is awarded for each correct answer if this team is able to get all of the answers.
    • If the team gets three strikes (wrong answers), the team’s turn ends and opposing team is then given a chance to steal the points by giving one of the remaining correct answers.
      • The stealing team is allowed to discuss together but must decide on one group answer.
      • If the stealing team’s answer is correct, they get all the points from this round (one point per correct answer).
      • If the stealing team’s answer is wrong, the original team that started the round gets all the points from the round.
    • If the team that won the initial head-to-head decides to pass, the opposing team gets to do the above instead. Strategically, you may want to “pass” if you don’t think your team can get all of the correct answers to this question, or know an obscure answer that you don’t think the other team will remember.
  • Once a round is done, a new member from each team faces off head-to-head and repeats this whole process.
  • You can play as many rounds as desired.

Again, the questions should be anything that has multiple answers. For example: “What are the 8 goals of risk management? [from CPCU 500] or “Name one of the 8 generally accepted accounting principles (GAAP)” [from CPCU 540]. You can definitely find lists or categories like this by flipping through the textbook, and they’re even easier to find if you use our study guides.

To get more out of the review game, you may want to require that the players also be able to define or explain the term, not just name it.

Game idea #2: Who Wants to be a Millionaire?

Another game you can play involves using practice quiz questions to do a Who Wants to Be a Millionaire-style quiz game. Here are the rules for our version of this review game:

  • A player is given a practice question and the four possible answer choices.
  • He or she can earn two points by guessing the correct answer without any help.
  • The player can forfeit a point in exchange for one of three lifelines, which may help them get closer to the correct answer:
    • Lifeline #1 – 50/50: Two incorrect answers are eliminated from the four available choices.
    • Lifeline #2 – Phone a Friend: The player may discuss the question and answer choices with another person in the room to try come up with the correct answer. The player is not obligated to go with the answer that their helper feels is correct.
    • Lifeline #3 – Poll the Audience: Each person gives what they feel is the right answer, but is not allowed to explain why they think so. The main player is not obligated to go with the answer that the majority of the group selected.

The original game show has one player being asked a whole series of questions, but for the purposes of preparing for the exam, we’ve found that people get more out of the game if you let each person answer a question, so that everyone has a chance to test their knowledge.

This game does requirethe class instructor or study group members to know the answers ahead of time, so the person hosting the game will need to go through the quiz and make a note of the correct answers ahead of time. You will also need to have a plan for displaying the questions up for everyone to see, whether that means having a projector set up for an in-person class or using screen-sharing for a virtual study session.

How to divide up game preparations

If you are using these review games in a study group as opposed to in a class, it is best to split up the responsibility for preparing the game between all the members. Divide the chapters between everyone in the study group, and the assigned student who came up with the questions for the chapter being reviewed that day can play host.

For the Family Feud game, the host should prepare the questions and have a list of the all the correct answers. For the Who Wants to be a Millionaire game, the host should be able to explain what is the correct answer & why the other choices are wrong. The student should go so far as to reference page numbers, so the group can stop, flip to it, and discuss if questions for the host come up. This actually isn’t as much work as it seems, and the student preparing the chapter is very likely to gain an excellent understanding of the topics they choose to cover in their game show questions.

 

Why our study programs work

Lots of companies offer study materials too, but here is why our study programs stand out:

 

See the concepts in action

You will be tested on your ability to apply the concepts to different situations, so we provide plenty of examples to show you how things work.

Less is NOT always more

Some things won't make sense until you have enough background info. We give extra context where you'd need it to fully grasp the material.

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Learn AND remember

Besides learning the content, you have to remember it all. Our paid study programs include our famous study guides that make it super easy to refresh your memory.

About your instructor

Insurance Exam Guides (IEG) was founded by Stacy Trinh, CPCU®, who first started her teaching journey at the request of her co-workers who were preparing for their CPCU exams. Because of her reputation as an adept trainer and motivator, Stacy's co-workers had asked her to lead a class. The feedback on her sessions and study materials was overwhelming positive, and her students encouraged her to share what she had to offer with the rest of the CPCU community.

Since then, Stacy created a library of study materials for both CPCU® and AINS® that have helped thousands of students pass their exams. As an accounting major and former claims adjuster, her style of instruction incorporates both a financial and operational perspective that makes her study materials well-rounded. She looks forward to helping many more students continue to succeed, including you!

Disclaimers: The Institutes, CPCU®, and AINS® are trademarks of the American Institute For Chartered Property Casualty Underwriters, d/b/a The Institutes. InsuranceExamGuides.com is not affiliated or associated with The Institutes in any way, and The Institutes do not endorse, approve, support, or otherwise recognize InsuranceExamGuides.com or its products or services. CPCU® and AINS® are registered trademarks of The Institutes. All rights reserved.

REDIRECT – Our CPCU 540 Study Guides are Here!

REDIRECT – Our CPCU 540 Study Guides are Here!

Our highly-anticipated CPCU® 540 study guide is finally here! Based on the most recent 3rd edition release of the textbook, our entire e-bundle is available at a really affordable price. Take at look at our free preview chapter or buy now!

We’ve loaded our study materials e-bundle with tons of content to help you grasp all the tricky concepts:

Study Guide Outlines: The cornerstone of our review materials is our study guide outlines, which condense each chapter to several pages of key terms, major concepts, and other important lists of information. The clean outline format makes it easy to see how the details presented are related to each other.

Introductory Lessons: Based on our popular blog post series CPCU 540 Fundamentals, we have included lessons on topics that we think you should understand before you start reading your textbook. These lessons cover topics that are referred to all thorough the book from start to finish, but aren’t explained well right off the bat. If you don’t know these concepts upfront, you might not fully grasp what is being said every time the textbook makes mention of them. We help you solve that problem by teaching you these concepts right upfront.

Help with Formulas: CPCU 540 is notorious for the many, many formulas covered that aren’t all provided for you on the exam. Our e-bundle includes a number of tools to help you: a formulas module that explains each formula in detail, convenient quick reference sheets that list out the formulas, and a handout entitled “How to Memorize CPCU Formulas” outlining a method that allows you to create a cheat sheet for yourself on test day.

How to Solve GAAP Problems: One of the trickiest elements of the CPCU 540 test is understanding how to read GAAP statements and draw conclusions. Because what constitutes “good financial results” is relative depending on the company and their situation, there aren’t that many hard and fast rules about what to look for. We compiled a list of tips on how to navigate solving GAAP problems, and give examples for you to see how those tips apply.

GAAP vs SAP Table: Prior test-takers consistently mention that the test will include questions about the differences between these two accounting methods. We provide a convenient table that shows the main differences side-by-side, so you can easily compare and contrast them at a glance.

IRIS Ratios: One thing you’ll learn about in CPCU 540 is how government regulators monitor insurance companies’ performance to ensure that the insurers don’t go bankrupt. Our quick reference sheet lists out all the IRIS ratios, what they tell you, and what the government’s acceptable values are for those ratios.

Practice Problems: The old saying “practice makes perfect” is absolutely true when it comes to CPCU math problems, so we have a whole bunch of extra problems for you to practice on. We even included walk-throughs for all the variations of the cash flow valuation problems, showing you how to use the tables that will be provided to you on the test.

CPCU 540 Study Guide e-Bundle – Only $18.99

  • For use with 3rd edition textbook
  • FREE lifetime updates (whenever we update our materials, you get access to the new version at no additional charge)
  • Delivered instantly as PDF (up to 5 download attempts within 1 year of purchase date)
  • Includes:
    • Study Guide
    • BONUS: Introductory Lessons
    • BONUS: Formulas Module
    • BONUS: Formulas Cheat Sheets
    • BONUS: How to Memorize CPCU Formulas
    • BONUS: GAAP Formulas & Ratios Practice Problems
    • BONUS: How to Do GAAP Financial Statement Analysis
    • BONUS: GAAP vs SAP Reference Sheet
    • BONUS: IRIS Ratios Reference Sheet
    • BONUS: Cash Flow Valuation Practice Problems (with walk-throughs)

About your instructor

Insurance Exam Guides (IEG) was founded by Stacy Trinh, CPCU®, who first started her teaching journey at the request of her co-workers who were preparing for their CPCU exams. Because of her reputation as an adept trainer and motivator, Stacy's co-workers had asked her to lead a class. The feedback on her sessions and study materials was overwhelming positive, and her students encouraged her to share what she had to offer with the rest of the CPCU community.

Since then, Stacy created a library of study materials for both CPCU® and AINS® that have helped thousands of students pass their exams. As an accounting major and former claims adjuster, her style of instruction incorporates both a financial and operational perspective that makes her study materials well-rounded. She looks forward to helping many more students continue to succeed, including you!

Disclaimers: The Institutes, CPCU®, and AINS® are trademarks of the American Institute For Chartered Property Casualty Underwriters, d/b/a The Institutes. InsuranceExamGuides.com is not affiliated or associated with The Institutes in any way, and The Institutes do not endorse, approve, support, or otherwise recognize InsuranceExamGuides.com or its products or services. CPCU® and AINS® are registered trademarks of The Institutes. All rights reserved.

Tips for Double-Checking Your Test Answers

Tips for Double-Checking Your Test Answers

One topic of debate is whether or not you should double-check your test answers before you click SUBMIT. Some people find that double-checking all of their work is beneficial because it gives them an opportunity to look at the test questions again without the pressure of knowing you still have unanswered questions to get to. Others find that their first intuition tends to be right, so going back to double-check everything can be a dangerous source of doubt. Regardless of which camp you fall into, we have some tips to help you be more effective when it comes to double-checking your work.

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Implied Warranties in Commercial Contract Law

Implied Warranties in Commercial Contract Law

In commercial contract law, when someone buys a good from a seller, there are a number of assumptions that the buyer may make about the purchased product regardless of whether the seller explicitly makes such a statement about the product. These allowed assumptions are referred to as implied warranties. The CPCU® 530 textbook lists them but doesn’t describe all of them in detail, so we’ll do that for you in today’s tip!

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