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CIPS Managing Contractual Risk Sample Questions:
1. Which of the following will you put into box 2?
A) anticipatory breach
B) fundamental breach
C) payment terms
D) specification
2. A buyer and supplier have a contract and the supplier has committed a major breach. However, as they are the sole supplier to the buyer, the buyer has decided not to terminate the contract and instead to work with the supplier to remedy the situation. What is this called?
A) assigning liability
B) affirmation of the contract
C) awarding damages
D) conflict resolution
3. Which of the following will you put into box 1?
A) subcontracting
B) reputational damage
C) penalty clause
D) consequential loss
4. Which of the following will you put into box 1?
A) Subcontracting
B) Time is of the Essence
C) Specification
D) Payment Term
5. Which of the following will you put into box 4?
A) Subcontracting
B) Time is of the Essence
C) Specification
D) Payment Term
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: B |
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