
Contract Management
Quiz
•
Business
•
Professional Development
•
Practice Problem
•
Medium
Javeria Aftab
Used 47+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is an element of contract
Definitions
Scope of agreement
Specifications, quality, and health, safety, and environment
All three of them
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
In firms fixed price contract
Price is fixed and can't change
Price is not fixed and can be changed
Price does'nt matter
Cost is the main factor
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Fixed-Price with Escalation
Used for longer-term contracts where costs are likely to increase over time
price never changes
Price is secondary option
Never considers third party
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Fixed-Price with Incentives
Nevers Incentivize the supplier uder condition of high cost and longer lead times
is the simplest and easiest contract
Incentivize the supplier uder condition of high cost and longer lead times
None of these
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Cost-Sharing contracts
Allowable costs are shared between parties on a predetermined percentage basis
Allowable costs are never shared between parties on a predetermined percentage basis
Allowbale costs are never shared between parties
Allowable costs are shared but there is no predertemined %
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
purchases that are made on a nonrecurring or limited basis
Long term contract
Short Term
Spot contract
None
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
contract purchases that are routinely made over a relatively limited time horizon
Short-term contracts
long term Contract
Spot Contract
Collaborative contract
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