Question 1

The expression ‘consideration’ means:

Options :

A : Being nice to people, in the expectation that they in turn will be nice

B : Being over 18 and being of sound mind

C : Some form of valuable exchange

D : Taking time to think about the gravity of the contract you may be about to be entering into

Answer: C

Question 2

Goods or services which must be used together are called:

Options :

A : Complements

B : Compliments

C : Condiments

D : Substitutes

Answer: A

Question 3

A justification of an action (expenditure) that is to be taken by an organisation.

Options :

A : Business case

B : Competitive tender

C : Project management

D : Cost analysis

Answer: A

Question 4

What do we call a contract term which is part of the contract, but which is not written into the contract documents?

Options :

A : Hidden

B : Vague

C : Express

D : Implied

Answer: D

Question 5

A concise structured document showing all risks for a contract / unit / organisation, including details of nature of risk, risk owner, anticipated impact, possible responses, etc

Options :

A : Risk register

B : Risk manual

C : Risk analysis

D : Risk profile

Answer: A