- AIAF 320 has 50 questions, a 65-minute limit, and requires a 70% score to pass.
- Six domains cover accounting fundamentals through reinsurance - memorize the exact titles below.
- 2026 fee is $319 early, $399 standard, or $319 for a same-window retake.
- Remote exams use Talview recording, not live proctoring - a closed-book, nonprogrammable-calculator setting.
Quick Facts Snapshot
This page is built to be your single-scroll reference for the Associate in Insurance Accounting and Finance (AIAF) exam - specifically the required course, AIAF 320: Insurer Accounting and Finance Principles, from The Institutes Knowledge Group. Bookmark it alongside our full AIAF Study Guide 2026 for the deeper walkthrough; this version is the compressed, keep-it-open-in-a-tab reference.
| Item | Detail |
|---|---|
| Exam | AIAF 320 - Insurer Accounting and Finance Principles |
| Questions | 50 |
| Time limit | 65 minutes |
| Passing score | 70% |
| Typical prep time | 4-6 weeks |
| Early registration fee (2026) | $319 |
| Standard fee (2026) | $399 |
| Same-window retake fee (2026) | $319 |
| Format | Closed-book, remote via Talview recording |
Exam Format at a Glance
AIAF 320 is a 50-question exam delivered in a strict 65-minute window, and you need a 70% passing score to move forward toward the designation. That works out to roughly 78 seconds per question on average - tight enough that you can't afford to freeze on any single item. The Institutes uses multiple-choice and other objective question formats, so it's worth running through the current AIAF 320 simulated exam before test day just to get comfortable with how questions are phrased and how answer choices are structured.
Most candidates report that typical course preparation takes four to six weeks, which lines up with treating this as a part-time study commitment rather than a weekend cram. For a detailed breakdown of exactly how difficult this exam feels in practice, see How Hard Is the AIAF Exam? Complete Difficulty Guide 2026, and for context on what a 70% threshold actually means question-by-question, check AIAF Passing Score 2026: Exactly What You Need to Pass.
The Six AIAF 320 Domains
AIAF 320's content is organized into six course-assignment areas. These are official course-assignment titles within the single exam, not six separate tests - all 50 questions are drawn from across these areas within one 65-minute sitting.
Domain 1: Examining the Fundamentals of Accounting
Baseline accounting concepts that everything else in the course builds on.
- Core accounting principles as applied to insurance operations
- Foundational terminology you'll see reused in every later domain
Domain 2: Working with Insurer Financial Statements
How insurers structure and report their financial position.
- Reading and interpreting insurer-specific financial statements
- Understanding what distinguishes insurer reporting from general corporate accounting
Domain 3: Categorizing Premiums
How premium is recognized, earned, and classified.
- Premium classification concepts specific to insurance accounting
- Terminology distinctions that show up repeatedly in exam questions
Domain 4: Preparing Loss Reserves
The reserving concepts insurers use to account for future claim obligations.
- Core loss reserve preparation concepts
- How reserves interact with reported financial results
Domain 5: Managing Insurer Assets
How insurers account for and manage the asset side of the balance sheet.
- Asset management concepts as they apply to insurer finances
- How asset decisions connect back to overall financial performance
Domain 6: Examining Reinsurance Options
Reinsurance from an accounting and finance perspective.
- How reinsurance arrangements affect insurer accounting
- Core reinsurance concepts tested alongside the other five areas
For a much deeper dive into each of these six areas - including how they tend to interconnect on the actual exam - read AIAF Exam Domains 2026: Complete Guide to All 6 Content Areas.
Key Takeaway
Don't study the six domains as isolated silos. Premium categorization (Domain 3) and loss reserves (Domain 4) both feed directly into how you'll read the financial statements in Domain 2 - study them in that order for better retention.
Fees, Windows, and Retakes
The 2026 AIAF 320 exam fee is $319 if you register before the testing window opens, $399 at the standard rate, or $319 for a retake purchased and completed within the same window. Study materials are purchased separately from the exam fee itself, so budget for both. If you're mapping out the full designation cost including the required CPCU exams, our AIAF Certification Cost 2026: Complete Pricing Breakdown article lays out every line item.
Testing windows run in four blocks each year:
- January 15 - March 15
- April 15 - June 15
- July 15 - September 15
- October 15 - December 15
If a closing date falls on a weekend, it extends to the next business day. One retake is allowed per window, and you're capped at four attempts on a given exam per calendar year. If your plans change, you can transfer an eligible exam registration to the next testing window for $95. Full scheduling logistics, including how the windows interact with retake eligibility, are covered in AIAF Exam Dates 2026: Testing Windows, Deadlines & Scheduling.
What You Can (and Can't) Bring
AIAF 320 is administered remotely using Talview recording, meaning your session may be reviewed by The Institutes after the fact rather than watched live by a human proctor in real time. That doesn't make the rules any looser - you still need a supported laptop or desktop, a working webcam, a microphone, and full-screen sharing enabled for the entire session.
The exam itself is closed-book. You're allowed scratch paper and a nonprogrammable basic or financial calculator, as long as it has no alphabetic keys and no word-storage capability. Everything else is off-limits:
- Phone or computer-based calculators
- Study notes or course materials of any kind
- Websites, browser tabs, or reference tools
- AI tools of any kind
- Outside assistance from another person
Key Takeaway
Test your calculator model before exam day. If it has letter keys or can store formulas, it will likely be flagged as noncompliant - buy a simple nonprogrammable model well in advance.
Full Designation Path
AIAF 320 is one required course, but the full Associate in Insurance Accounting and Finance designation requires four courses plus a free ethics course:
- AIAF 320: Insurer Accounting and Finance Principles
- AIAF 321: Managing Insurer Risk and Capital
- CPCU 520: Meeting Challenges Across Insurance Operations
- CPCU 540: Contributing to Insurer Financial Performance
- Ethics 311: Ethical Decision Making in Risk and Insurance (free)
The two required CPCU exams each cost $359 early or $439 standard, separate from the AIAF-specific fees. AIAF 320 also earns ARC credit, a nice bonus if you're pursuing other Institutes credentials simultaneously. Most candidates complete the entire designation in nine to twelve months. If you're wondering whether you qualify to start, see AIAF Requirements 2026: Eligibility, Prerequisites & How to Qualify.
One-Week Cram Map
If you've already built content knowledge and just need a final focused sprint before your testing window closes, here's a compressed schedule. This isn't a replacement for the four-to-six-week timeline most candidates use - it's a last-mile plan for reinforcing weak spots.
Domains 1 & 2
- Re-drill accounting fundamentals and insurer financial statement structure
- Work timed practice sets focused only on these two domains
Domains 3 & 4
- Premium categorization rules and loss reserve preparation logic
- Cross-reference how reserves show up on the statements from Day 1-2
Domains 5 & 6
- Asset management concepts and reinsurance accounting treatment
- Run a full 50-question timed simulation to check pacing against the 65-minute limit
Full Review
- Light review of flagged weak areas only - no new material
- Confirm remote testing setup: webcam, microphone, full-screen sharing
For a more traditional multi-week plan with spaced repetition built around these same six domains, our AIAF Study Guide 2026 walks through a longer-format approach in detail.
Who Hires AIAF Holders
The AIAF designation signals insurer accounting and finance competency specifically, which makes it relevant to roles inside insurance carriers, reinsurers, and the finance departments that support them. Candidates working in or targeting statutory accounting, financial reporting, reserving analysis, or insurer treasury functions tend to get the most direct career relevance from the six domains covered on AIAF 320. If you're evaluating whether the credential fits your career goals, our AIAF Jobs overview and Is the AIAF Certification Worth It? Complete ROI Analysis 2026 both dig into how the designation is used on the job.
For pay-related context tied to insurance accounting and finance roles broadly, see AIAF Salary Guide 2026: Complete Earnings Analysis. And if you want independent confirmation of how candidates are actually performing on this exam before you commit study hours, our AIAF Pass Rate 2026: What the Data Shows article breaks down what's publicly known.
Key Takeaway
Because AIAF 320 also earns ARC credit, candidates already working toward other Institutes designations can double up their study time rather than starting from zero on a separate track.
Frequently Asked Questions
AIAF 320 has 50 questions with a 65-minute time limit, and you need a 70% score to pass.
Examining the Fundamentals of Accounting, Working with Insurer Financial Statements, Categorizing Premiums, Preparing Loss Reserves, Managing Insurer Assets, and Examining Reinsurance Options. These are course-assignment titles within the single AIAF 320 exam.
The 2026 fee is $319 for early registration before the testing window opens, $399 at the standard rate, or $319 for a retake purchased and completed within the same window. Study materials are billed separately.
Yes, but only a nonprogrammable basic or financial calculator without alphabetic keys or word-storage capability. Phone and computer calculators are prohibited, along with notes, websites, and AI tools.
You also need AIAF 321: Managing Insurer Risk and Capital, CPCU 520: Meeting Challenges Across Insurance Operations, CPCU 540: Contributing to Insurer Financial Performance, and the free Ethics 311 course. Most candidates finish everything in nine to twelve months.
Keep this cheat sheet bookmarked as you move through your prep, and pair it with timed practice runs over on our AIAF practice test platform so the 65-minute pacing feels routine before you sit for the real thing. Between the domain breakdown here and full-length simulations on the practice site, you'll walk into your testing window knowing exactly what to expect.