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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 ® 500 Exam Questions. If you have not previously taken an institute’s administered exam, you will be in for quite the surprise. The questions on these CPCU ® exams will be much different than what you may be used to on a typical exam. The CPCU ® 530 exam focuses on business law topics, including: contract law, commercial law, property law, tort law and agency law. The reason this exam is tougher than most is because we’re insurance.
. For this post, we interviewed a candidate who took one of these new exams to find out what their experience was like and what tips they’ve give to anyone else who is thinking of testing virtually as well.NOTE: If you or anyone you know has also completed a virtual CPCU exam and is also willing to complete a short phone or email interview with us, please reach out to us at Info(at)InsuranceExamGuides.com and we’d be happy to feature you here!
Robert Garcia (CPCU 540)
Robert took the virtual exam for CPCU 540 on May 3, 2020 (Sunday) and was kind enough to share about his experience. Read on to find out what he had to say (direct quotes are indicated by quotation marks):
Candidate Background:
- Name: Robert Garcia
- Insurance experience: Personal auto, liability claims adjuster
- Masters’ in Economics, in progress
- Virtual test taken: CPCU 540
- CPCU tests already passed: All except CPCU 557
Was the virtual exam harder or easier than you thought it would be? Why?
“Harder for sure! The time frame was really rough. It was way less math than I had expected and was really relying on my Finance background to carry the weight making up for the shorted time restrictions.” Jailbreak ios 9.3 6.
What was the exam like?
Surprisingly, Robert confirmed that the test consisted of only about 5-10 computational questions. The bulk of the questions were about concepts, but they mostly followed the format of a short question with four long answer choices, which took up a lot more time to read through and think through.
For example, the question might be something like:
When would XXX apply?
a. Blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah .
b. Blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah.
c. Blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah.
d. Blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah.
As opposed to:
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What is the term used to describe blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah?
a. Absolute
b. Qualified
c. Temporary
d. Mandatory
Many of the questions were focused on “which answer best applies” and required you to know the material. In Robert’s opinion, “it’d be near impossible” to consult your study materials given the time constraint.
Did the virtual exam feel very different from the traditional exam interface or experience?“I had to tile my screen to see the formulas and tables (didn’t use a calculator), [as opposed to clicking the button to pull up the supplemental materials and then clicking between tabs]. I know at my job’s onsite the layout was more user friendly due to the ability to strike through and highlight which I didn’t see as options. Also I wrote on a sticky note which ones I had to look back on since I didn’t see a mark for review option.”
What study techniques did you find most helpful?
Robert went through all of this study materials one chapter at a time, reading The Institutes’ textbook and then going through the corresponding Big Daddy University (BDU) modules and practice tests for that same chapter. He then watched BDU yesterday and today at double speed for all chapters, mainly to reinforce his understanding and memory of the vocabulary terms.
What other tips would you give to anyone preparing for a virtual CPCU exam?
Robert says that The Institutes’ online course practice quizzes are in the exact same format as the exam. He recommends giving yourself about one minute per question while doing the practice problems. Robert finished with only 40 seconds to spare and no time to go back to review, whereas every other time he’s taken an exam, he would typically finish his first go-through in about half the allotted time, leaving him plenty of time to go back and double-check his work.
Now that you’ve have a chance to experience it, would you be willing to take another CPCU exam virtually?
“I would probably save myself from any of the math exams unless you feel incredibly comfortable with computations since those would definitely of pushed me past time if I were less confident in the formulas.”
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Is there anything else you want to add?
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“Good luck to everyone taking their exams both virtual and traditionally!”
Thank you again to Robert for sharing their experience. We hope his insight is helpful to anyone else considering this test method, and we’ll continue to update this page if more people provide testimony on their experience.
There’s no better way to review than with our study guides!
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