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Passed Exam Today L4M3

Page: 12 / 17
Total 233 questions

Commercial Contracting Questions and Answers

Question 45

Which of the following are examples of conformance specification? Select TWO that apply:

Options:

A.

Outcome-focused specification

B.

Statement of work

C.

Product sample

D.

Output-focused specification

E.

Technical drawing

Question 46

Adornical Toys Ltd have recently declared their commitment to international labour standards. Karim is sourcing a supplier for a new range of wooden toys and is keen to ensure that the organisation's corporate objectives are met. Which of the following approaches could he include as part of his specification requirements to achieve this labour outcome?

Options:

A.

Certification to an ethical trading initiative

B.

Formally measure their carbon footprint

C.

Use ecologically certified raw materials

D.

Accreditation to waste reduction schemes

Question 47

Which of these describes “consideration” within a contract?

Options:

A.

The communication of an unconditional agreement

B.

Both parties exchange something of value

C.

The desire of both parties to enter into a contract

D.

Ability of both parties to be able to enter into a contract

Question 48

A buyer is procuring innovative new IT systems and has issued a performance specification as part of the invitation to tender. Is this a suitable approach?

Options:

A.

No, because the bidder may use it to inflate costs

B.

Yes, because it allows the bidder to present solutions and further inform the requirement

C.

No, because the Procurement Team should only include outputs in specifications

D.

Yes, because it will improve relationships and collaboration between both parties

Page: 12 / 17
Total 233 questions