APA 321: Auditing Premiums for Insurance Products

Overview Skills You’ll Gain Exam Prep Tools FAQs

Overview

Effectively use premium determination when performing audits on various insurance policies. After completing APA 321, you’ll be able to better understand the components of ratemaking that affect commercial policies, determine the right exposure amounts for different insurance types, and more.

6-8 WEEKS

Experienced

Skills You’ll Gain

Understand the components and methods of ratemaking that influence the premium for commercial policies.

Determine the right exposure amounts and employer classifications related to workers compensation insurance.

Identify the right exposure classifications and premiums for major business groups with new knowledge of CGL policies and endorsements.

Examine the exposure measures insurers use to determine commercial auto liability and physical damage premiums.

Ready-Made Career Skills:

Ratemaking
Exposure Assessment
Endorsements
Workers Compensation
Automobile Liability

Assignments

Assignment 1:

Ratemaking Fundamentals

35 Minutes

Assignment 2:

Understanding Workers Compensation Insurance

40 Minutes

Assignment 3:

Auditing Workers Compensation Policies

2 Hours 15 Minutes

Assignment 4:

Understanding General Liability Insurance

40 Minutes

Assignment 5:

Auditing General Liability Insurance Policies

55 Minutes

Assignment 6:

Auditing Commercial Auto Policies

35 Minutes

APA 321 comes with proven, comprehensive study materials to help you pass The Institutes Designations' exam with confidence:

Printable Study Outline: Perfect for taking notes, the printable study outline has key points for each assignment and review questions (and answers!) to help you test your knowledge as you move through the course.
Practice Quizzes: Quickly see where your knowledge gaps are with online practice quizzes for each assignment and for the full course. You can take them as many times as you want!
Simulated Exam: Designed to give you the full experience of your final exam, the simulated exam is a timed exam that you can take only once. It mimics the exam structure and level of questions you’ll find on the actual exam. Students who take their Institutes simulated exam pass their exams at higher rates than students who don’t.
Flashcards: Test yourself on key terms with flashcards that help you fit studying into your busy schedule.

Does this course give me credit toward The Institutes Designations?
- Yes! APA 321 gives you credit toward the Associate in Premium Auditing (APA) designation.
How long does the course take?
- APA 321 typically takes students 6-8 weeks to complete.
How is The Institutes Designations’ exam structured?
- Virtual exams are timed. You will have 65 minutes to complete 50 questions.
What’s included in my course materials?
- In addition to the online course, you have access to a printable study outline, assignment quizzes, practice exams, and a simulated credentialing exam.
How do testing windows work?
- We offer The Institutes Designations’ exams in 4 testing windows throughout the year.* You can complete your exam at any time in the testing window that you registered for. Access your exam from your account when the window opens and complete any time until 11:59 p.m. ET on the final day of the window.
  - Quarter 1: January 15 – March 15
  - Quarter 2: April 15 – June 15
  - Quarter 3: July 15 – September 15
  - Quarter 4: October 15 – December 15

*Exam windows that close on a weekend will be extended to the following business day.