CAIB 2 — CAIB New Edition 1.0 Study Plan
A practical CAIB 2 study plan for candidates preparing for the Insurance Brokers Association of Canada CAIB New Edition 1.0 - CAIB 2 exam, with 7-day, 14-day, 30-day, and 60/90-day schedules.
How to use this CAIB 2 study plan
This Study Plan is for candidates preparing for the Insurance Brokers Association of Canada CAIB New Edition 1.0 - CAIB 2 exam, exam code CAIB 2.
Use it to turn your available time into a practical preparation schedule. The emphasis is on applied insurance reasoning: reading client facts carefully, identifying coverage issues, recognizing exclusions and conditions, understanding documentation, and choosing the best broker response in realistic scenarios.
Before you begin, confirm the current CAIB 2 exam format, permitted materials, timing, and administrative requirements with the Insurance Brokers Association of Canada or your provincial broker association.
Which plan should you use?
| Time remaining | Best if you are… | Main goal | Risk level |
|---|---|---|---|
| 7 days | Finishing the course or retaking after a near pass | Final review, weak-area repair, timed practice | High if you have not studied yet |
| 14 days | Familiar with the material but inconsistent on questions | Focused topic review plus daily mixed practice | Moderate to high |
| 30 days | Starting with some insurance background or course progress | Balanced learning, review, and timed practice | Moderate |
| 60/90 days | Starting early or working full time with limited weekly hours | Full preparation path with repeated review cycles | Lowest |
Core study priorities for CAIB 2
Build your schedule around applied competence, not just reading time.
| Study area | What to practice | How to know you are improving |
|---|---|---|
| Client and risk information | Identify missing facts, business operations, property exposures, liability exposures, prior losses, occupancy, values, and documentation needs | You can explain what facts matter before looking at answer choices |
| Commercial property concepts | Match coverage intent to business property, limits, valuation, conditions, exclusions, and endorsements | You can spot why a loss is or is not covered |
| Business interruption / income concepts | Understand the purpose of coverage, period of loss, insured earnings exposure, and common calculation logic | You can follow the scenario and avoid mixing property damage with income loss |
| Commercial liability concepts | Identify bodily injury, property damage, completed operations, premises/operations, contractual issues, exclusions, and broker placement considerations | You can separate liability allegations from property coverage issues |
| Crime, equipment, and specialized coverage concepts | Recognize when standard property or liability coverage may not be enough | You can recommend the coverage category that fits the exposure |
| Policy conditions and exclusions | Apply conditions, duties after loss, misrepresentation, cancellation, limits, deductibles, and exclusions | You can identify the controlling policy feature in a scenario |
| Broker responsibilities | Documentation, disclosure, suitability, advice, follow-up, file notes, and client communication | You can choose the safest professional action, not just the fastest answer |
| Calculations and numeric details | Values, limits, deductibles, coinsurance-style logic where applicable, and premium/rating examples if included in your materials | You write steps cleanly and catch unit or timing errors |
Weekly time targets
| Plan | Minimum useful time | Better target | Best use of time |
|---|---|---|---|
| 7-day plan | 10-12 hours | 15-20 hours | Final review, drills, mock exams, error repair |
| 14-day plan | 18-24 hours | 25-35 hours | Focused content review plus repeated mixed practice |
| 30-day plan | 35-45 hours | 50-70 hours | Full topic pass, drills, mock exams, final review |
| 60-day plan | 55-75 hours | 80-100 hours | Thorough study with weekly cumulative review |
| 90-day plan | 70-90 hours | 100+ hours | Best for busy candidates or first-time insurance learners |
Daily practice rhythm
Use this rhythm on most study days, whether you have 45 minutes or 3 hours.
| Step | Time | Action |
|---|---|---|
| Warm-up | 5-10 min | Review yesterday’s missed-question log and 5-10 flashcards or notes |
| Focus block | 30-60 min | Study one defined topic from the CAIB 2 materials |
| Topic drill | 20-40 min | Answer targeted questions on that topic without looking at notes |
| Explanation review | 20-30 min | Read explanations for both correct and incorrect answers |
| Error log | 10-15 min | Record the rule, concept, or reading mistake that caused each miss |
| Cumulative review | 10-20 min | Revisit older weak areas so they do not fade |
For short sessions, keep the same order but reduce the number of questions. Do not skip explanation review.
Diagnostic practice before choosing a schedule
If you have more than one week left, begin with a diagnostic set.
| Diagnostic step | What to do | What to record |
|---|---|---|
| 1. Take a mixed set | Use a representative set of CAIB 2-style questions under light timing | Overall score, guessed questions, slow questions |
| 2. Tag every miss | Label by topic and error type | Content gap, misread facts, confused coverage, poor elimination, calculation error |
| 3. Rank weak areas | Pick the top 3 topics causing the most lost marks | These become your first study blocks |
| 4. Build your calendar | Choose the 14-, 30-, or 60/90-day path | Schedule mock exams before the final week |
7-day final review plan
Use this if your exam is one week away. This is not enough time to learn everything from scratch, so prioritize score improvement: high-yield review, mixed practice, and error correction.
| Day | Main task | Practice task | Output by end of day |
|---|---|---|---|
| 1 | Take a diagnostic mixed set | Review every answer explanation | Ranked weak-area list |
| 2 | Review commercial property concepts and policy conditions | Topic drill on property, limits, exclusions, valuation, and claims conditions | One-page property checklist |
| 3 | Review commercial liability concepts | Scenario questions on liability exposures, exclusions, endorsements, and broker advice | Liability issue-spotting notes |
| 4 | Review business interruption/income and related calculation logic | Calculation and scenario drill | Formula/process checklist |
| 5 | Review crime, equipment, specialty exposures, documentation, and broker responsibilities | Mixed drill emphasizing professional judgment | Updated error log |
| 6 | Take a timed mock or large timed mixed set | Deep review of misses and guesses | Final weak-area repair list |
| 7 | Light final review only | Short confidence drill; no heavy new material | Exam-day checklist ready |
7-day rules
- Stop adding new resources by Day 5.
- On Days 6-7, review your own error log more than the textbook.
- Do not spend the final day trying to master your weakest topic from zero.
- Prioritize questions you missed because of misunderstanding, not obscure details.
- Sleep, timing, and careful reading matter more in the final 24 hours than extra cramming.
14-day focused plan
Use this if you know the course content but need structure and practice.
| Day | Study focus | Practice focus |
|---|---|---|
| 1 | Diagnostic mixed set and study map | Tag misses by topic and error type |
| 2 | Client facts, risk information, applications, documentation | Short scenarios: what additional facts are needed? |
| 3 | Commercial property fundamentals | Property coverage drill |
| 4 | Property exclusions, conditions, limits, valuation, deductibles | Scenario drill with coverage decisions |
| 5 | Business interruption/income concepts | Calculation and timeline questions |
| 6 | Commercial liability fundamentals | Liability exposure drill |
| 7 | Liability exclusions, endorsements, claims-made/occurrence concepts if covered in your materials | Scenario drill and explanation review |
| 8 | Crime, equipment, and specialized commercial exposures | Coverage-matching drill |
| 9 | Broker responsibilities, disclosure, file documentation, client communication | Judgment-based questions |
| 10 | Mixed review of Days 2-9 | Timed mixed set |
| 11 | Mock exam or large timed set | Full review of misses and guesses |
| 12 | Repair top 3 weak areas | Targeted drills only |
| 13 | Final mixed practice | Build final rule sheet and caution list |
| 14 | Light review and exam readiness check | Short warm-up only |
14-day emphasis
Your biggest gains will come from:
- converting passive reading into scenario decisions;
- learning why tempting wrong answers are wrong;
- drilling policy conditions and exclusions in context;
- practicing commercial client fact patterns, not isolated definitions;
- maintaining a written missed-question log.
30-day balanced plan
Use this if you want a realistic full preparation cycle while working or studying part time.
30-day calendar
| Days | Focus | Study actions | Practice actions |
|---|---|---|---|
| 1-2 | Setup and diagnostic | Confirm exam logistics, gather materials, take diagnostic | Build topic/error tracker |
| 3-6 | Client facts and commercial risk analysis | Study business operations, exposure identification, applications, documentation | Daily short scenario drills |
| 7-11 | Commercial property | Study coverage intent, insured property, valuation, limits, deductibles, exclusions, conditions | Topic drills and missed-question review |
| 12-15 | Business interruption/income concepts | Study loss timeline, income exposure, required documentation, calculation process | Calculation and scenario drills |
| 16-20 | Commercial liability | Study premises/operations, products/completed operations, contractual concerns, exclusions, endorsements | Liability scenario drills |
| 21-23 | Crime, equipment, specialty/complementary coverages | Study where gaps appear in standard coverage | Coverage-matching drills |
| 24-25 | Broker responsibilities and professional judgment | Study disclosure, documentation, suitability, follow-up, claims communication | Judgment-based mixed set |
| 26 | Timed mock exam or large timed set | Simulate exam pacing | Record all misses and uncertain correct answers |
| 27-28 | Weak-area repair | Review only the top weak topics from your mock | Targeted drills |
| 29 | Final mixed review | Short timed set plus error-log review | Build final checklist |
| 30 | Light final review | No new material | Exam-day preparation |
30-day weekly targets
| Week | Target outcome | Minimum practice |
|---|---|---|
| Week 1 | Understand the exam scope and commercial client fact gathering | 75-100 questions or equivalent drills |
| Week 2 | Build property and income coverage judgment | 100-150 questions or equivalent drills |
| Week 3 | Build liability and specialty coverage judgment | 100-150 questions or equivalent drills |
| Week 4 | Convert knowledge into timed exam performance | 1-2 mocks or large timed sets |
60/90-day full preparation path
Use this if you are starting early, balancing work and study, or want a lower-stress path.
60-day version
| Phase | Days | Main objective | What to complete |
|---|---|---|---|
| Phase 1 | 1-7 | Orientation and diagnostic | Read exam/course outline, take diagnostic, build study calendar |
| Phase 2 | 8-18 | Client facts and commercial property | Study and drill risk information, property coverage, conditions, exclusions |
| Phase 3 | 19-28 | Business interruption/income and calculations | Practice timelines, values, income exposure, calculation logic |
| Phase 4 | 29-40 | Commercial liability | Drill scenario judgment, exclusions, endorsements, broker recommendations |
| Phase 5 | 41-47 | Crime, equipment, specialty coverages, documentation | Practice coverage matching and client communication |
| Phase 6 | 48-54 | Cumulative practice | Mixed timed sets, explanation review, error-log repair |
| Phase 7 | 55-60 | Final review | Mock exam, weak-area repair, light final review |
90-day version
| Phase | Days | Main objective | What to complete |
|---|---|---|---|
| Phase 1 | 1-10 | Orientation and diagnostic | Build materials, diagnostic, topic map |
| Phase 2 | 11-25 | Commercial client risk analysis and property | Slower reading pass plus drills |
| Phase 3 | 26-40 | Business interruption/income and calculations | Repeated calculation practice and scenario review |
| Phase 4 | 41-58 | Commercial liability | Deep scenario practice and policy feature review |
| Phase 5 | 59-68 | Specialty coverages and broker responsibilities | Applied judgment drills |
| Phase 6 | 69-78 | First full cumulative review | Mixed sets, weak-area repair |
| Phase 7 | 79-86 | Timed mocks and final content repair | 1-2 timed mocks or large timed sets |
| Phase 8 | 87-90 | Final review | Error log, checklist, rest, exam readiness |
Weekly rhythm for the 60/90-day path
| Day type | Session length | Task |
|---|---|---|
| 3 weekdays | 45-75 min each | One topic block plus 15-25 practice questions |
| 1 weekday | 30-45 min | Error-log review and flashcard/rule review |
| Weekend session 1 | 90-150 min | Deeper reading, examples, calculations, scenario review |
| Weekend session 2 | 60-120 min | Mixed practice and explanation review |
Missed-question review method
Your missed-question log is one of the highest-value tools for CAIB 2. Track questions you missed and questions you got right for the wrong reason.
| Field | What to write | Example prompt |
|---|---|---|
| Topic | The coverage or concept being tested | Property condition, liability exclusion, broker documentation |
| Scenario trigger | The fact that should have guided the answer | “Client leases equipment,” “prior loss,” “vacant property,” “contractual obligation” |
| Your error | Why you chose the wrong answer | Misread facts, ignored exclusion, confused coverage, guessed, calculation error |
| Correct rule | The principle you should remember | State it in your own words |
| Retest date | When you will try a similar question again | 2 days later, 1 week later, final week |
Error categories to use
| Error category | What it means | Fix |
|---|---|---|
| Content gap | You did not know the concept | Reread the section, then do a small topic drill |
| Coverage confusion | You mixed up two coverage types | Build a compare/contrast note |
| Scenario misread | You missed a key fact | Slow down and underline client facts before answering |
| Professional judgment error | You chose an action that was not the best broker response | Review documentation, disclosure, and client communication principles |
| Calculation error | Your setup or arithmetic was wrong | Rewrite the steps and repeat similar calculations |
| Overthinking | You changed a correct answer without evidence | Require a specific policy fact before changing answers |
How to review answer explanations
Do not only read the explanation for the correct answer. For CAIB 2, the wrong answers often teach the most important distinctions.
Use this four-part review:
- Why is the correct answer correct? Identify the policy feature, client fact, or broker responsibility that controls the result.
- Why is each wrong answer wrong? Look for exclusions, mismatched coverage, missing facts, or professional conduct problems.
- What fact would change the answer? This builds scenario flexibility.
- What will you do next time? Write a one-sentence rule in your error log.
Timed mock exam strategy
Use timed mocks after you have completed enough content review to make the score meaningful.
| Time remaining | Mock exam use |
|---|---|
| 60/90 days | First large timed set around the halfway point; full mock or large set in the final 2 weeks |
| 30 days | One mock or large timed set around Day 26; optional second shorter timed set on Day 29 |
| 14 days | One mock or large timed set around Day 11 |
| 7 days | One timed mock or large timed set around Day 6 if stamina and review time allow |
Mock exam rules
- Simulate exam conditions as closely as practical.
- Time the entire session, not just individual questions.
- Mark questions you guessed on, even if you answered correctly.
- Review the mock the same day if possible.
- Spend at least as much time reviewing as you spent taking the mock.
- Do not take repeated mocks without repairing the errors between them.
Calculation and numeric-detail practice
CAIB 2 preparation may include numeric reasoning depending on the material you are studying. Treat calculations as process questions, not memory tricks.
| Calculation practice task | How to drill it |
|---|---|
| Limits and deductibles | Write the loss amount, applicable limit, deductible, and final payable sequence |
| Valuation examples | Identify the valuation basis before calculating |
| Business income timelines | Draw the loss date, interruption period, restoration period, and recovery assumptions |
| Coinsurance-style reasoning if covered in your materials | Write the required insurance, carried insurance, loss amount, and deductible in order |
| Premium/rating examples if covered in your materials | Label each input and unit before calculating |
For every calculation miss, record whether the error was caused by concept, setup, arithmetic, or misreading the question.
Topic drill plan
Use targeted drills before mixed drills. Mixed practice is valuable only after you can handle individual topics.
| Drill type | When to use it | Best format |
|---|---|---|
| Definition drill | Early in study or after reading a new topic | Short questions, flashcards, quick recall |
| Coverage-matching drill | After learning several coverage types | Match client exposure to likely coverage need |
| Exclusion/condition drill | After policy feature review | Scenario asks whether a condition or exclusion affects the answer |
| Broker action drill | After documentation and professional responsibility review | Choose the best next step for the broker |
| Calculation drill | After learning numeric process | Repeat similar examples until setup is automatic |
| Mixed timed drill | Final third of your study plan | Questions from multiple topics under time pressure |
Final-week rules
In the final week, your job changes from learning everything to performing reliably.
| Rule | What it means |
|---|---|
| Stop adding new major resources | Use your existing course materials, notes, practice questions, and error log |
| Prioritize weak but fixable topics | Choose topics where a few hours can produce real score improvement |
| Review uncertain correct answers | A guessed correct answer is still a knowledge gap |
| Keep drills shorter | Avoid exhausting yourself with long untimed sessions |
| Practice timing | Do at least one timed set before exam day |
| Protect sleep | Insurance scenarios require careful reading and judgment |
| Do not ignore logistics | Confirm exam time, identification, permitted materials, location or online requirements |
Exam-readiness checks
You are closer to ready when the following are true.
| Readiness check | Yes/No |
|---|---|
| I can identify the client’s business operations and key exposures from a scenario | |
| I can explain why a coverage applies or does not apply using policy concepts, not guesses | |
| I can separate property, income, liability, crime, equipment, and specialty coverage issues | |
| I can identify common exclusions, conditions, documentation duties, and broker responsibilities | |
| I can complete calculation-style questions using a written sequence | |
| I review all missed and guessed questions, not just the ones I got wrong | |
| I have taken at least one timed mixed set or mock-style practice session | |
| I know my top 5 recurring errors and have a plan to avoid them | |
| I know the exam logistics confirmed by the Insurance Brokers Association of Canada or my provincial broker association | |
| I can complete practice under time pressure without rushing the fact pattern |
If your practice scores are not improving
Use this troubleshooting table before changing your entire plan.
| Problem | Likely cause | Fix |
|---|---|---|
| Scores are flat | Too much reading, not enough practice review | Increase explanation review and error logging |
| You miss scenario questions | You are answering before identifying the controlling fact | Pause and label the exposure, coverage, condition, or exclusion first |
| You confuse coverage types | Notes are organized by chapter, not by client problem | Build comparison charts |
| You run out of time | You spend too long on uncertain questions | Mark, move, and return after easier questions |
| You make calculation mistakes | Steps are not standardized | Use the same written setup every time |
| You change correct answers | Anxiety or overthinking | Change only when you find a specific missed fact |
Practical next step
Choose the schedule that matches your exam date, take a diagnostic mixed set, and build your missed-question log today. Then move into daily CAIB 2 practice with a fixed rhythm: topic review, scenario questions, explanation review, and error repair.