CPCU 530 Exam Questions and Answers with
Verified Solutions | Latest Updated 2026
Doctrine of stare decisis The principle that lower courts must follow
precedents set by higher courts.
Equity Fairness, or a body of principles
constituting what
is fair and right.
Criminal law The branch of the law that imposes
penalties for
wrongs against society.
Civil Law A classification of law that applies to legal
matters
not governed by criminal law and that
protect
rights and provides remedies for breaches
of
duties owed to others.
Substantive Law A classification of law that creates, defines,
and
regulates parties' rights, duties, and
powers.
,Procedural Law A classification of law that prescribes the
steps, or
processes, for enforcing the rights and
duties
defined by substantive law.
Equal Protection Clause A part of the Fourteenth Amendment to the
U.S.
Constitution prohibiting state laws that
discriminate
unfairly or arbitrarily, and requiring equal
treatment
to all persons under the like circumstances
and
conditions.
National Association of Insurance An association of insurance
Commissioners NAIC commissioners from
the fifty U.S. states, the District of
Columbia, and
the five U.S. territories and possessions,
whose
purpose is to coordinate insurance
regulation
activities among the various state
insurance
departments.
Original jurisdiction The power of a court in which cases are
initiated to
hear those cases.
, Diversity jurisdiction The authority of federal district courts to
hear
cases involving parties from different
states that
involve amounts in controversy over a
legal
minimum.
Writ of certiorari An appellate court's order directing a lower
court
to deliver its record in a case for appellate
review.
Conflicts of law A body of law that resolves questions
when states'
laws conflict.
Administrative law The statutory laws that grant power to
administrative agencies to act and the
body of law
that is created by administrative agencies
themselves.
Allegation A claim made in the complaint by the
plaintiff,
specifying what the plaintiff expects to
prove to
obtain a judgment against the defendant.
Complaint The allegations made by a plaintiff in a
lawsuit.
Verified Solutions | Latest Updated 2026
Doctrine of stare decisis The principle that lower courts must follow
precedents set by higher courts.
Equity Fairness, or a body of principles
constituting what
is fair and right.
Criminal law The branch of the law that imposes
penalties for
wrongs against society.
Civil Law A classification of law that applies to legal
matters
not governed by criminal law and that
protect
rights and provides remedies for breaches
of
duties owed to others.
Substantive Law A classification of law that creates, defines,
and
regulates parties' rights, duties, and
powers.
,Procedural Law A classification of law that prescribes the
steps, or
processes, for enforcing the rights and
duties
defined by substantive law.
Equal Protection Clause A part of the Fourteenth Amendment to the
U.S.
Constitution prohibiting state laws that
discriminate
unfairly or arbitrarily, and requiring equal
treatment
to all persons under the like circumstances
and
conditions.
National Association of Insurance An association of insurance
Commissioners NAIC commissioners from
the fifty U.S. states, the District of
Columbia, and
the five U.S. territories and possessions,
whose
purpose is to coordinate insurance
regulation
activities among the various state
insurance
departments.
Original jurisdiction The power of a court in which cases are
initiated to
hear those cases.
, Diversity jurisdiction The authority of federal district courts to
hear
cases involving parties from different
states that
involve amounts in controversy over a
legal
minimum.
Writ of certiorari An appellate court's order directing a lower
court
to deliver its record in a case for appellate
review.
Conflicts of law A body of law that resolves questions
when states'
laws conflict.
Administrative law The statutory laws that grant power to
administrative agencies to act and the
body of law
that is created by administrative agencies
themselves.
Allegation A claim made in the complaint by the
plaintiff,
specifying what the plaintiff expects to
prove to
obtain a judgment against the defendant.
Complaint The allegations made by a plaintiff in a
lawsuit.
