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Which of the following will be included in a conformance specification?

1. Brand names

2. Description of the operating environments

3. Chemical formulae

4. Required safety level

A.

1 and 2 only

B.

1 and 3 only

C.

1 and 4 only

D.

2 and 3 only

Maximum Score: 1

An urgent component requirement needs to be purchased to meet the timescales of a project. A supplier proposes using its standard terms and conditions. What risk to the buying organisation could this bring?

A.

A breach of competition laws

B.

Contract conditions that are favourable to the buyer

C.

A breach of the supplier's internal financial controls

D.

Contract conditions that are favourable to the supplier

Which of the following are always included within a framework agreement? Select TWO that apply:

A.

Exact quantity to be purchased

B.

Call-off procedure

C.

Exact price to be paid

D.

Duration

E.

Insurance

A construction company wishes to place the contract for the building of a new hotel to a principal contractor using a model form contract. Which of these is an advantage of using a 'model form contract?'

A.

Incentive payment terms can be included to reward the supplier for attainment of cost savings

B.

Formulae or indices can be included to assess any additional supplier's claims for contract price adjustment

C.

It avoids the requirement to create complex contracts each time but can be adapted to suit particular circumstances

D.

Legal advice is still required if significant amendments or variations are to be made to the contract

Which of the following regulates barriers to the provision of services between countries?

A.

CISG

B.

GATS

C.

ADA

D.

Incoterms

Which of the following is the model form of contract for construction which is recommended by World Bank?

A.

ITC

B.

JCT

C.

CIPS

D.

FIDIC

Is a verbal contract legally enforceable?

A.

Yes, a verbal agreement is just as legally enforceable as a written one

B.

Yes, but only if you have a witness at the time the verbal agreement was made

C.

No, only contracts in writing will be legally enforceable

D.

No, verbal contracts are never legally enforceable

Company A buys a lorry from Company B on hire purchase. During the contractual period, Company A makes default in paying the instalment. Company B has...?

A.

The right to take repossession of the lorry

B.

The option to repossess the lorry

C.

No right to take repossession

D.

Company B has to approach the court

According to rule of contract formation, which of the following is a valid acceptance?

A.

The person orally agrees to pay the offered price

B.

The person states that she is able to pay the offered price

C.

The person asks for a lower price

D.

The person says that she will think about it overnight

A procurement manager is setting KPIs measurement for user satisfaction. He also wants to encourage users to share the reason why they feel the way they do. Which of the following types of KPI should the procurement manager apply?

A.

Quantitative measure

B.

Numerical measure

C.

Binary measure

D.

Qualitative assessment