CPCU^® 530 Exam Format

The CPCU^® 530 exam consists of 85 multiple choice questions broken up into two sections, part A and part B.

Part A: Concept questions – The first section of the exam will be approximately 55 concept questions; these questions will test your understanding of a definition or topic. The multiple-choice answers will generally provide 2 or 3 partially correct answers and one “best” answer.
Part B: Case questions – The second section of the exam will be approximately 30 case questions; these questions will require you to apply your knowledge to a specific scenario or event. You will be given a real-life scenario; your job will be to select the best recommendation to solve the given scenario.

In this blog we will breakdown the exam question format and detail the important topics that you must memorize to pass the 530 exam. We will detail exactly what you should focus on when studying to pass this exam. This blog comes straight from our CPCU® 530 online course where we breakdown the difficult concepts and convey the topics in simple terms and plain English.

CPCU^® 530 Question Format

The CPCU^® 530 questions will be formatted in a similar manner to the CPCU^® 500 exam questions, the only difference is these questions will primarily focus on legal definitions. These questions require you to fully understand every aspect of the definition, and in some cases, require you to act as a legal professional to apply the definition in a real-life scenario. There are A LOT of definitions to memorize. We have personally reviewed the content and counted over 600 legal definitions that you need to be familiar with for this exam.

Part A question format

We found it best to practice concept questions formatted in a question stated as “All of the following are true, except” and “Which of the following is true in regards to…”. For example, arbitration is the process of settling a dispute with an impartial third party, or arbitrator. Which of the following is true in regards to arbitration?

These are common exam question formats, we recommend you practice using this format to master the definitions of the CPCU^® 530 exam. This will help to prepare you for the questions you will see on the actual exam.

Part B question format

We found it best to practice scenario questions to prepare for part B of the CPCU^® 530 exam. A case question will give you a scenario; you will be required to select the correct answer based on the given case facts. For a scenario question you must fully understand what is being asked and fully understand how to apply the information you have learned from studying. This requires you to act as a legal professional, to select the best possible answer.

For example, Jake, when running late for work, accidentally runs a red light causing an oncoming car to crash into the side of his car. Brooke, the driver that crashed into Jake’s car after he ran the red light, suffered substantial injuries and is attempting to sue Jake for negligence. What is Jake’s best defense in this case?

Download: Free Practice Exam (CPCU® | ARM™ | AINS™ | API™)

CPCU^® 530 – Exam Topics

The major focus of the CPCU^® 530 exam is legal principles and concepts. The main topics covered in this exam include tort law, contract law, U.S. law, sales contracts, and business law.

For more insight, see our blog about the CPCU^® 530 Exam Difficulty.

CPCU^® 530 – Important Topics

Below we are outlining some important CPCU^® 530 exam topics. We recommend you master these topics before attempting the CPCU^® 530 exam. This is our opinion of the topics that are important on your exam.

Torts – we recommend you heavily focus on the torts section, in our opinion this is one of the most important topics of the CPCU^® 530 content. Understand the duty of care process, negligence defenses, and types of torts.
Business law – we highly recommend you master the topics of business law and employee law. Know the different types of business ownership, duties of a corporation, employment laws, and discrimination laws. There are a lot of laws to memorize in this section.
U.S. law – this is covered in the first section. This section is important because the concepts from section one will be referenced by all other chapters throughout the study material. Be sure to understand civil law, common law, the trial process, and the trial vocabulary.

Disclaimer

Remember, every CPCU^® exam is different. No single exam is the same. Be sure to study ALL topics (not just our recommendation). This resource is intended to provide you with a general idea of where your focus should be. Make sure to thoroughly study every topic of this exam.

CPCU^® 530 – Important Definitions

Below we are outlining some important CPCU^® 530 exam definitions. We recommend you memorize these definitions before attempting the CPCU^® 530 exam. This is our opinion of the topics that are important on your exam. Remember, there are over 600 definitions that you need to be familiar with for this exam, so make sure you memorize the important definitions!

Define the following CPCU^® 530 concepts:

Civil law
Common law
Subpoena
Unilateral contract
Voidable contract
Offer
UCC
Last clear chance
Nuisance
Ultra hazardous
Apparent authority
Insurance agent
Broker
ERISA
Employee at will
Hostile takeover
APEC
NAFTA

Disclaimer

Free Practice Exam

Ready to get started studying? We’re here to help (for free). Download our free CPCU^® 530 practice exams to get a feel for the type of questions you will see on the exam.

Download: Free Practice Exam (CPCU® | ARM™ | AINS™ | API™)

More Information

For more information about the CPCU^® 530 exam, checkout some of our other free resources:

Disclaimer

Difficulty rank, importance rank, and the advice provided in this resource are solely the opinion of AssociatePI. This resource is intended to provide you with a general idea of where your focus should be. Each exam administered by The Institutes is different. AssociatePI is not affiliated with The Institutes or involved in the exam writing process. Please be sure to thoroughly study every chapter and every topic of this course.

CPCU^®exams are administered by the American Institute for Chartered Property Casualty Underwriters (“The Institutes”). AssociatePI does not administer the actual exams, we are an independent resource of free content, advice, and study material for professional insurance education. This blog is intended for informational purposes only, to inform prospective students of the benefit of the CPCU^® designation.

CPCU^® and API^™ are trademarks of the American Institute for Chartered Property Casualty Underwriters (“The Institutes”). AssociatePI LLC is not affiliated with, associated with, endorsed by or otherwise supported or recognized by The Institutes in any way. AssociatePI LLC is not authorized by The Institutes to offer courses, practice examinations, or any other resources related to the Institutes’ designations or other programs.

For further information, please email contact@associatepi.com.

Share0

Tweet0

Share0