yes.
i only know of one method though: process of elimination.
say, in a given system, any parts failing could cause a system malfunction, right?
but you've narrowed it down to two parts, that makes things much easier.
either CPU and/or Mobo. (hopefully not both)
opinion: CPU isn't likely to break though, at least not with LGA based Intel CPUs (if it's still PGA, one bent pin = a whole world of headache to try to straighten it out and hope for the best that it works). but regardless, it could still break.
next thing you should do is take a replacement part, put it in (CPU first maybe, since it's easier), test it out. if it hangs -> maybe the problem is on the Mobo.
take a spare mobo (known to be working well), reassemble system, test it again. if it works flawlessly, then you've just isolated the problematic part.
no siggy, saw stuff that made me sad.