MD CPCU Society Chapter Member and Candidate Scholarship Program
Program
The Maryland CPCU Society Chapter Member and Candidate Scholarship Program was established to assist those who need funding to complete their CPCU designation, continue as active members of this Chapter, and to supplement continuing education opportunities.
Purpose
The purpose of this program is to identify and provide financial assistance for active members, candidates, and new designees who demonstrate a need where they wish to complete their designation, become a member of the Chapter, and to continue to participate as a member of the Chapter. Sponsorships for continuing education will also be a part of this program.
Selection
Scholarship recipients will be determined by the Maryland Chapter Scholarship Advisory Committee that consists of 6-7 members and are selected by the current President, all being familiar with the evaluation and selection criteria.
Eligibility
Eligibility will be determined by the following criteria:
Candidates
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Recipient must have 50% of his/her courses completed (4 parts) successfully to be considered
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Recipient must be a member of the MD Chapter ($125 paid dues) and/or Chapter
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Recipient must be an active member of the Chapter attending at least 4 events/activities per year
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Receipt must have good deportment and maintain the ethical code for the CPCU Society
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Recipient must pass each exam to continue to be considered for (1) scholarship per examination period (window)
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Recipient must be in good standing to receive reimbursement for study materials and/or textbooks
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Recipient must not receive financial assistance from their place of work while a Candidate
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Recipients who may be facing financial hardship
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Recipient must have at least 2 years’ of experience in the insurance industry
Members and New Designees
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Recipient must be a member of the Chapter ($250 paid dues), a Candidate ($125 paid dues), a new designee first year ($125 paid dues) or in the processing of being transferred into the Chapter
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Recipient must be an active member of the Chapter attending at least 4 events/activities per year
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Recipient must serve on a committee for at least 1 year
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Receipt must have good deportment and maintain the ethical code for the CPCU Society
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Recipient must not receive financial assistance from their place of work applying
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Recipients who may be facing financial hardships
College Recipients
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All college scholarship recipients must plan to attend or be attending a four-year college or university accredited by the Association to Advance Collegiate Schools of business (AACSB)
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Must be a relative of an active member or active candidate of the Chapter
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Must maintain a 3.0 GPA or better
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Must be receiving a degree closely related to or in the insurance industry
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Must complete the scholarship application and submit an essay as described in the application
Scholarship
The number of scholarships given and the recipients of any scholarship will be based on the funds budgeted for any particular year which is voted and approved by the Advisory Committee. The types of scholarships that can be applied for are as follows:
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New Designee Memberships Dues for One Year
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Travel Expenses for the Local Conferment Dinner
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Member or Candidate Membership Dues for One Year
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Candidate Examination Fee
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Candidate Study Materials
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Candidate Text Book(s)
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Scholarship for Member or Candidate’s relative
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Education or Event Sponsorship requested by Chapter
Application
Applicant must submit a complete application in order to be considered. Please adhere to all guidelines and if you have any questions, please contact a member of the Advisory Committee.
Definitions
Active Chapter members or candidate members are defined as having dues paid in full for the current year and participating in the Chapter’s events and activities.
A Candidate in good standing is one who is an active member and has passed all their exams. If they do not pass an exam, they become suspended until another exam is passed. (For example: Candidate A applied for books and exam for CPCU 540. Candidate A receives the scholarship. Candidate A does not pass the exam. They pay for and retake the exam and pass. After passing CPCU 540, they now become eligible for another scholarship for a different part.)
Travel expenses are for new designees who have been an active Candidate and has to travel more than 75 miles and/or 2 hours 1 way.
Advisory Committee
The sponsoring organization (ISOB) has provided funds to start the scholarship program. Scholarships are awarded on an objective and non-discriminatory basis and will be decided by the Advisory Committee. The criteria for eligibility are noted under Eligibility. Up to $5000 in scholarship monies per year may be given.
The Advisory Committee will remain on the Committee for a minimum of 2 years if not otherwise noted and has the right to change the guidelines at any time with reasonable notice to members, candidates, new designees, and applicants.
To receive an application, please contact Jacklyn L McIntosh at 443-717-3963 or at jacklyn.mcintosh.cj73@statefarm.com.