Finance and Accounting for Insurance Professionals
The Burnham System
CPCU 540
PDF & MP3
Basic Study Material

The Burnham System is written and frequently revised by

Ray Burnham, CPCU, CLU, ARM, AIC, AINS, AIS, API, SPPA, AIM, AIC-M, ARM-E, AU, AU-M, ALCM, AAI, AAI-M, APA, ARP, AIAF, AMIM, AAM, AIT, ARe, AFSB, ASLI, AIDA, ARC, ARM-P, REBC, RHU, ASF, LIA, CASL, and ChFC;

Jean O’Reilly, PhD, CPCU, ARM, AINS, AIS, API, AIC, SPPA, AIM, AIC-M. ARM-E, AU, AU-M, AAI, AAI-M, APA, AMIM, AIT, ARe, AFSB, ASLI, AIDA, ARC, ARM-P, and AIAF; and

Lisa Tobey, JD, CPCU, CLU, ARM, AINS, AIS, API, SPPA, AIM, AIC-M, ARM-E, AU, AU-M, AAI, AAI-M, APA, AIAF, AMIM, AIT, ARe, AFSB, ASLI, AIDA, ARC, ARM-P, ACS, RWCS, RHU, REBC, CASL, AIC, EA, and ChFC.

Copyright © 2018 The Burnham System

CPCU 540
Digital & Audio Book

Finance and Accounting for Insurance Professionals Study Guide

The Burnham System is the gold standard for CPCU 540 study guide materials. Using our guide you will learn everything needed to pass the CPCU 540 Exam in the shortest time possible. Simply, you will learn more faster.


Included for FREE with your purchase of this Digital (PDF) Study Guide:

  • CPCU 540 Audio Study Guide Narrations, in MP3 file format, expertly narrated by Lisa Tobey
  • Ray's answers to each assignment's review questions
  • Ray's definitions for each assignment's key words and other new terms
  • A sample diagnostic exam with answers and explanations


PDF Notice: PDF files are not printable. They are digitally annotatable.


Current Text Edition: 3rd

Current Course Guide Edition: 3rd


Ray's estimate of course difficulty (1, easiest and 10, hardest): 7


Number of study guide pages: 58

Covered within this study guide:

  • Introduction to Corporate Finance and Accounting
  • GAAP Financial Statements and Statement Analysis
  • Insurer Statutory Accounting and Statement Analysis
  • Cash Flow Valuation
  • Financial Markets and Institutions
  • Bonds and Stocks and Derivatives
  • Insurer Investment Portfolio Management
  • Needs and Sources of Insurer Capital and Insurer Capital Management
  • Mergers and Acquisitions
  • a special section on How to Solve CPCU 540 Math Problems

As a good study guideline, figure anything in those 58 pages might be on your exam and that there will be nothing on your exam that is not covered in those 58 pages.


If math, equations, and exponents are a problem for you, then course difficulty for you would be an 8, not a 7.


The Burnham System is written and frequently revised by

Ray Burnham, CPCU, CLU, ARM, AIC, AINS, AIS, API, SPPA, AIM, AIC-M, ARM-E, AU, AU-M, ALCM, AAI, AAI-M, APA, ARP, AIAF, AMIM, AAM, AIT, ARe, AFSB, ASLI, AIDA, ARC, ARM-P, REBC, RHU, ASF, LIA, CASL, and ChFC;

Jean O’Reilly, PhD, CPCU, ARM, AINS, AIS, API, AIC, SPPA, AIM, AIC-M. ARM-E, AU, AU-M, AAI, AAI-M, APA, AMIM, AIT, ARe, AFSB, ASLI, AIDA, ARC, ARM-P, and AIAF; and

Lisa Tobey, JD, CPCU, CLU, ARM, AINS, AIS, API, SPPA, AIM, AIC-M, ARM-E, AU, AU-M, AAI, AAI-M, APA, AIAF, AMIM, AIT, ARe, AFSB, ASLI, AIDA, ARC, ARM-P, ACS, RWCS, RHU, REBC, CASL, AIC, EA, and ChFC.