CPCU 530 FINAL EXAM TEST AND PRACTICE EXAM

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CPCU 530 FINAL EXAM TEST AND PRACTICE EXAM

QUESTIONS 2025 NEWEST COMPLETE EXAM

QUESTIONS WITH DETAILED VERIFIED ANSWERS

(100% CORRECT ANSWERS) /ALREADY GRADED A+ /

BRAND NEW EXAM!!!

Which one of the following best explains how a successful litigant enforces an arbitration award?

Select one:

• The winning party can take the arbitrator's award

directly to a sheriff to mandate compliance with the decision.

• An arbitrator cannot award money, but the decision can

be used as persuasive evidence in a real court.

• An arbitrator's award is filed with the appropriate court

and is as enforceable as any court judgment.

• The parties participating in the arbitration agree in a

contract to comply with the arbitrator's decision. - Answer-

• An arbitrator's award is filed with the appropriate court

and is as enforceable as any court judgment.

Jessica operates her architectural business out of her home. She obtains her business and personal insurance through Glaston Insurance Agency (GIA). Daniel, the 1 / 4

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agent at GIA, neglected to tell Jessica that professional liability coverage was excluded when she purchased the coverage for her business. When the deck on her house collapses, Lily files a suit against Jessica's architectural business. It is soon discovered that Jessica's coverage from GIA does not include professional liability coverage, and that Jessica does not have adequate funds to compensate Lily. Lily decides to file a suit against Daniel.Which one of the following statements is correct regarding Lily's right to sue Daniel?

Select one:

• Because the circumstances involve professional liability

exposures, most courts will interpret that Lily, as a third party, has the right to sue Daniel.

• Lily, as a third party, has the right to sue Daniel for hi -

Answer-C. Lily was not a party to the Daniel and Jessica's producer-customer relationship, and therefore has no rights under the contract.

The Jet Hotel had an old, dangerous boiler in the basement that was rarely used. The Occupational Health and Safety Administration (OSHA) had no safety standards for this particular boiler, but did have standards for similar pieces of equipment. The Jet Hotel's management took no steps to make the boiler safe. One 2 / 4

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day, the boiler exploded. No one was seriously hurt, but nine employees were treated with first aid. The management did not record these injuries or report the accident to OSHA. Which one of the following OSHA requirements or standards has the management violated?

Select one:

• The general duty clause
• The reporting requirement
• The recordkeeping requirement
• The specific safety standard for boilers - Answer-A. The

general duty clause

Which one of the following is a necessary element for a document to be considered a title under Uniform Commercial Code (UCC) Article 7?

Select one:

• The document gives the holder the right to receive,

hold, and dispose of both the goods and the document of title itself.

• The document is a contract to ship, store, or dispose of

goods.

• The document is negotiable. 3 / 4

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• The document is created by the bailee as a receipt for

goods received. - Answer-D. The document is created by the bailee as a receipt for goods received.

Justine contracted to create Charlotte's wedding gown by next June. Later, Justine and Charlotte agreed that Tammy would make the gown, and Charlotte expressly released Justine from the original contract. Which one of the following statements is true?

Select one:

• There was a discharge by performance.
• There was a personal satisfaction contract.
• There was an agreement to rescind.
• There was substantial performance of a contract. -

Answer-C. There was an agreement to rescind.

Ralph is the director of a fraternal organization that is a not-for-profit association. Ralph volunteers his time to manage the organization, and he is not paid a salary nor does he receive any type of non-monetary compensation.Which one of the following statements regarding Ralph's role as director of the fraternal association is true?

Select one:

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