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Examen

CPCU 530 QUESTIONS WITH CORRECT ANSWERS..

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CPCU 530 QUESTIONS WITH CORRECT ANSWERS

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The Millwright Corporation and the Pravalt Corporation agreed that Millwright will
merge with Pravalt. Each corporation's Board of Directors has adopted a plan of
merger stating that Pravalt will merge into Millwright and Pravalt will no longer exist
as a corporation. The plan of merger must be approved by the stockholders of


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Pravalt and Millwright (but Millwright only if voting or participating shares
increases substantially). The "disappearing" corporation's stockholders must
approve the merger plan, but the new corporation's stockholders must
approve the plan only if the number of voting or participating shares
increases substantially.




Which one of the following most accurately describes how the modern Indian legal
system is affected by the traditional caste system?


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, Legislation in India has voided all the rules of the caste system when they
conflict with social justice.




Anthony, Bob, and Mary got into a violent argument and accidentally destroyed
Anthony's valuable vase, worth $10,000. Anthony was 20 percent at fault, Bob was 10
percent at fault, and Mary was 70 percent at fault. They are not in a combined fault
state. In a lawsuit where Anthony is the plaintiff and Bob and Mary are defendants,
which one of the following statements is true?


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Under the 49 percent rule, Mary would have to pay $8,000. Because
Anthony's percent of fault exceeds Bob, he could not recover from Bob.
Mary would be held responsible for 80 percent (100 percent, less
Anthony's 20 percent).




Heather wants to make a $500 gift to her brother, Will. Heather sells her snowmobile
to Walter for $500 and obtains Walter's promise to pay Will the $500 price for the
snowmobile. Will is best described as


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A donee beneficiary. Will is a donee beneficiary because as a third party
beneficiary he has received the benefit of a contract's performance as a
gift from Heather, with the intent of the contracting parties.




Bill, 62, felt that he suffered age discrimination at his job. Bill decided to go to the
Equal Employment Opportunity Commission (EEOC) to complain. While the EEOC
reviewed his complaint, Bill became impatient, and filed a lawsuit against his former
employer in his state's court. Two months after Bill's lawsuit was filed, the EEOC issued

,Bill a right-to-sue letter. Which one of the following best describes the mistake(s) Bill
made while pursuing his discrimination claim?


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Bill was not allowed to sue while the EEOC reviewed his complaint. As a
prerequisite to instituting a court suit, a person alleging age discrimination
must file a charge either with an appropriate state agency or with the
EEOC. The employee may not sue while this process continues.




Cathy was being discriminated against while working for a municipal government
office. Her supervisors harassed her about her age, her ethnicity, and her religion.
Cathy believed that she could sue her employer under Section 1981, but was not sure
that the statute covered her situation. Which one of the following best describes
whether Section 1981, as amended by the Civil Rights Act of 1991, can be used to
protect Cathy's rights?


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Section 1981 prohibits discrimination based on ethnicity in any aspect of
employment and by any private, municipal, state, or local employer.




The area surrounding Bill's business property has all been zoned for commercial use,
but under current zoning ordinance his lot is too small for him to have his own
enterprise. Therefore, Bill has requested that he be allowed to continue doing
business from his location even though the size of his lot does not conform to the
ordinances required for the zone. Bill is requesting


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A hardship variance. This is not exclusionary zoning which is the act of
restricting land use either by prohibiting additional building or by requiring

, high standards. It does not involve the rights of eminent domain. It is not a
special exception but is instead a hardship variance.




Which one of the following statements correctly describes how courts treat insurance
policy provisions that require all waivers to be in writing?


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They generally do not enforce them.




Cliff has title to a three acre plot of land which is surrounded by a creek. There is a
barn with shovels, saddles, and other contents. There is also a well on Cliff's property.
The highest property right acquired by Cliff is the


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Title to the property.




During Hurricane Katrina, Jancy Cajun Cooks was unable to ship out its famous spices
to Taunton's Restaurant in Virginia. Which one of the following is an excuse for
nonperformance of this sales contract?


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Failure of a presupposed condition




Unincorporated associations can be dissolved in which one of the following ways?

Información del documento

Subido en
27 de julio de 2026
Número de páginas
93
Escrito en
2025/2026
Tipo
Examen
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