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You are about to practice the questions set for
L5M3 Managing Contractual Risk Paper *9.
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⏱️Time limit: 1 hour 30 minutes
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1.
Which of the following will you put into box 4?
2.
Which of the following will you put into box 1?
3.
Which of the following will you put into box 7?
4.
Franky B's is a popular restaurant chain which is seeking a resolution to a conflict it has with its supplier of Fried Chicken. It is looking for a dispute resolution method that does not involve the court but in which an expert third party will make a binding decision. Which is the most suitable dispute resolution method for Franky B's?
5.
Which of the following conflict resolution styles involves a strict timeline and is commonly used within the construction industry?
6.
Which of these is NOT a stage in negotiation?
7.
Which of the following would be included in a contract to assign costs and responsibilities between buyer and seller when products are delivered?
8.
Which of the following are advantages to seeking a solution to conflict via litigation?
9.
Which of the following would not be considered a contract? Select TWO.
10.
Penguin Ltd has a contract with Blue Company. Blue Company has just broken a warranty in the contract. What remedies does Penguin Ltd have available?
11.
Which of the following will you put into box 6?
12.
Kranky Kat Ltd has just been through an adjudication process with a supplier it worked with who committed a breach in the contract. Kranky Kat is not happy with the outcome of the adjudication. What can Kranky Kat do?
13.
Which TWO conflict resolution methods provide certainty of resolution?
14.
Which of the following will you put into box 7?
15.
Which of the following is not a form of AOR (Alternative Dispute Resolution)?
16.
Sally is shopping and sees an advert in a travel agent's window that says that flights to Salta are 50% off. She enters the shop and begins to speak to a travel agent who informs her that the poster she'd seen is out of date. Is the travel agent obliged to give Sally the discounted flight?
17.
Robert has a contract with Farmer Ted, who provides his manufacturing firm with potatoes. There is a contract in place, signed by both parties, that Ted will deliver 2 tonnes of potatoes per week. Due to changes in demand, Robert would like Ted to start providing 3 tonnes of potatoes every three weeks. What must be in place for this change to occur?
18.
Which of the following will you put into box 5?
19.
What is the name given to a term in a contract where one party promises to compensate the other party for a trigger event?
20.
Which of the following will you put into box 6?
Please proceed to view your grade. Fingers crossed🤗
