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CPCU 530 Test questions & Answers
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CPCU 530 Test questions & Answers True -If the jurisdiction of the federal courts is based on diversity of citizenship, the subject matter of the dispute may be which state's law applies Judical Branch -is charged with deciding if another branch of government has the power to enact a new ...

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  • October 24, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • cpcu 530 test questions answers
  • true if the jurisdiction of the federal courts is
  • judical branch is charged with deciding if anothe

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  • CPCU - Chartered Property Casualty Underwriter
  • CPCU - Chartered Property Casualty Underwriter

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CPCU 530 Test questions & Answers
True - answer -If the jurisdiction of the federal courts is based on diversity of
citizenship, the subject matter of the dispute may be which state's law applies

Judical Branch - answer -is charged with deciding if another branch of government
has the power to enact a new law

Complaint - answer -This must include a requested remedy

Rulemaking function of administrative agencys - answer -A public hearing is required
if request by a government agency or 25 interested individuals

Investigative Function of administrative agencys - answer -receive the power to use
subpoenas from legislation

Contracts - answer these may be illegal for the following reasons:
---are contray to constitutional law
---are contrary to statutory law
---are contrary to case law
---are against public law

---contrary to tort law is not a thing

Exculpatory Clause - answer -These are typically unenforceable when the
complaining party has a bargaining disadvantage

Frustration of purpose - answer -occurs when an unforeseen event undermines a
party's principal purpose for entering into a contract, and both parties knew of this
principal purpose at the time the contract was made

Anticipatory breach - answer -this only applies to bi-lateral contracts

nonbreaching party - answer -a minor breach of contract may temporarily suspend a
duty of performance for these people

True - answer -One type of consideration is a binding promise
-a promise is not a binding promise if you may not actually ask the person to perform
something
-I promise to hire you if I buy the bed and breakfast

Incontestable clause - answer -if they breach this within the two years then the
insurer may deny coverage but will be required to refund the premiums

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