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If B is a second Waelbroeck algebra, a linear map \\(L: A\\to B\\) is called a spectral contraction if \\(\\rho\\) (Lx)\\(\\leq \\rho (x)\\) (x\\(\\in A)\\), where \\(\\rho\\) denotes the spectral radius. For a subset T, we study its universal Korovkin closure defined by \\(K_ u(T)=\\{y\\in A:\\) For every Waelbroeck algebra B, every unital algebra homomorphism \\(L: A\\to B\\) and every net \\(L_{\\alpha}: A\\to B\\) of spectral contractions the convergence \\(\\rho (L_{\\alpha}x-Lx)\\to 0\\) (x\\(\\in T)\\) implies the convergence \\(\\rho (L_{\\alpha}y-Ly)\\to 0\\}\\). A number of equivalent descriptions of the subspace \\(K_ u(T)\\) is given, including a characterization of \\(K_ u(T)\\) by a unique extension property of Radon measures concentrated on the structure space \\(\\Delta_ A\\) or the Silov boundary \\(\\Gamma_ A\\). The test set T is called a universal Korovkin system if \\(K_ u(T)=A\\). Various Choquet boundaries are introduced that prove useful for the characterization of universal Korovkin systems. Different representations of these boundaries as extreme points of convex sets are given; they allow, in particular, a determination of the extreme points ext \\(\\Omega\\) \\({}_ A\\) of the set \\(\\Omega_ A\\) of all spectral states on A and in this way solve a problem posed by Bonsall and Duncan in 1971. If the test set T is contained in a finite dimensional subspace, it turns out that all its Choquet boundaries coincide and are independent of the algebra A containing T. After a quick glance at the r\u00f4le of peak points and real peak points, we finally present a necessary condition for the existence of a finite universal Korovkin system in A that strengthens the only known condition and allows us, e.g., to conclude that the polydisc algebras \\(A(D^ n)\\) do not possess any finite universal Korovkin 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