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1.
Which contract type is most suitable for acquiring a specialized injection molding tool?
2.
What are the primary focus areas of a conformance specification?
1. How the component interacts with other parts in the existing system
2. Performance criteria
3. Dimensions
4. Desired outcomes
3.
Which model contract is appropriate for joint ventures between companies, both local and international?
4.
What three factors should be considered when establishing payment terms in a contract?
5.
Which body establishes minimum international labor standards?
6.
When should procurement professionals identify key stakeholders in the specification development process?
7.
What is true about verbal contracts?
8.
How are price indices typically represented in a contract's price adjustment formula?
9.
Which of the following are restricted in excluding liability under the Unfair Contract Terms Act 1977? Choose two.
10.
Which two options are typically protected by information assurance (IA)?
11.
Is it appropriate for a company to request that the supplier adhere to its technical department’s conformance specification for a high-value product they cannot manufacture themselves?
12.
IFL’s resistance likely arises from the lack of a formal legal document defining terms, especially regarding intellectual property rights, despite an agreement signed in 2006 for designing bespoke pouches for Volumatic’s machines.
13.
Is it advisable for NTN Corp to implement a gain-share/pain-share contract with the supplier for outsourcing inventory management, as the procurement manager suggests?
14.
Which remedy is commonly included in an SLA?
15.
When is it most appropriate for buyers to use standard schedules of rates?
16.
Which document provides procurement specialists with the most detailed information on quality attributes and pricing?
17.
IEBC leased a property to GBS from January 1, 1965, to December 31, 1969, with options to extend for two more five-year terms. On June 5, 1969, GBS sent a letter to IEBC to exercise the extension option, but IEBC claimed it never received it. Is the letter from GBS valid acceptance?
18.
What does "caveat emptor" mean?
19.
Which two options are most likely to be part of a contract?
20.
Identify the TWO options that typically lack legal validity.
21.
Is it legal for the Beginners Commercial Services to award a contract to Bravado Public Services (BPS), a supplier not listed in the existing framework agreement, despite a four-year agreement with three suppliers?
22.
Identify the TWO options that are consistently featured in the invitation to tender.
23.
What must the buyer specify in lump-sum contracts?
24.
Which of the following outlines the substantive rules for international sales, including delivery, contract formation, and breach remedies?
25.
Which of the following statements accurately describes a framework agreement?
26.
Which of the following are necessary for setting KPI targets?
27.
What benefits does a performance specification offer Serena Foods when sourcing a vegetable harvesting and packaging system?
1. Provide opportunities for innovation
2. Limits competition among suppliers
3. Require less effort to produce a specification
4. Allow the end user to provide details on technical aspects
28.
Which of the following statements about guarantees is accurate?
