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Free Access CIPS L5M3 New Release

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Total 120 questions

Managing Contractual Risk Questions and Answers

Question 17

Which of the following will you put into box 1?

Options:

A.

compete

B.

avoid

C.

compromise

D.

collaborate

Question 18

Logan Gin Distillery is creating a contract for one of its new suppliers. It is a complicated item that they are ordering and if things go wrong, it would have an extremely negative impact on production, and therefore on revenue. However it is impossible to say what the cost of this would be if things were to go wrong. What type of clause should be included in the contract?

Options:

A.

liquidated damages

B.

unliquidated damages

C.

penalty clause

D.

service credit

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Total 120 questions