The following courses are required to earn the AIAF designation.
AIAF 111—Statutory Accounting for Property-Casualty Insurers Insurance Accounting/Regulation, Annual Statement Reporting, Assets, Liabilities/Policyholders´ Surplus, Earned/Unearned Premiums, Losses/Loss Expenses, Investment Income, Reinsurance Accounting, SEC Reporting Requirements
AIAF 112—Insurance Information Systems: Data and Information Flows, System Planning, Data Administration, Insurance Activity Cycles, Budgeting, Management Reporting, Data Security/Integrity/Quality, System Controls, Auditing
CPCU 520—Insurance Operations
CPCU 540—Finance for Risk Management and Insurance Professionals
Program Options: The Associate in Insurance Accounting and Finance designation program is available as a self-study program via printed textbooks and course guides.
Life and Health Insurance Option: The Institutes and LOMA jointly sponsor an alternative program designed for people in the life and health insurance fields. The courses that are required under the life and health option are AIAF 112 from The Institutes, as well as LOMA 290 (or 291), LOMA 356, LOMA 371, and AIAF 400 (offered by LOMA). AIAF 400, offered by LOMA, will be discontinued December 2012.
For information about the life and health option, visit LOMA´s Web site at www.loma.org.
Public classes at third-party providers may be available for AIAF courses.
We Recommend AIAF for: Agency principals, line of business managers, and finance and accounting staff
Course Sequence: If you have limited or noncurrent exposure to GAAP, you should consider first taking CPCU 540—Finance for Risk Management and Insurance Professionals before taking the AIAF courses. If you have limited experience in insurance principles, you should consider completing the Program in General Insurance before enrolling in the AIAF program and taking CPCU 520 as your first AIAF course.
Exam Information: AIAF exams are offered at Institute-approved on-site testing locations and at Prometric Testing Centers. Contact your education coordinator for further information about on-site testing availability.
AIAF exams consist of 85 objective questions, and examinees have two hours to complete each exam. See individual CPCU courses for their specific exam information.