Question 1

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

Question 2

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 3

Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.

Options :

A : Absorption cost

B : Overhead cost

C : Indirect cost

D : Opportunity cost

Answer: D

Question 4

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 5

Goods or services which must be used together are called:

Options :

A : Complements

B : Compliments

C : Condiments

D : Substitutes

Answer: A