Most organizations document policies and procedures specifically defining procurement rules and specifying who has authority to sign and administer such agreements on behalf of the organization.

Question 26 options:

True False

Question 27 (1 point)

Procurement documentaton can include the following EXCEPT:

Question 27 options:

Source selection criteria Independent cost estimates Risk managment plan Bid documents

Question 28 (1 point)

It is good practice to discuss issues that you have with the supplier at the end of the project

Question 28 options:

True False

Question 29 (1 point)

According to the Risk Breakdown Structure, the following risks are examples of external risks EXCEPT:

Question 29 options:

Exchange rates Legislation Competition Technical processes

Question 30 (1 point)

The following situation/issue may require negotiations with your suppliers:

Question 30 options:

Contract volumes and release timeing, BATNA, needs, wants Defining the bargaining mix, power, counterproposals, other parties' interests Delivery schedules, progress payment schedules, currency exchange rates, payment terms Contract dispute resolution mechanism, capacity commitments, BATNA, wants

Question 31 (1 point)

A contract will conclude when both parites have not satisfactorily fulfilled their responsibilities under the terms of the contract.

Question 31 options:

True False

Question 32 (1 point)

The four types of supply base risk include the following:

Question 32 options:

Financial risk, sourcing risk, market risk, political risk Political risk, governmental risk, sourcing risk, financial risk Project risk, project selection risk, govermental risk, relationship risk Budget risk, political risk, governmental risk, project risk

Question 33 (1 point)

If the supplier can potentially reduce costs through continuously improving, then a long-term agreement may be beneficial to both contracting parties.

Question 33 options:

True False

Question 34 (1 point)

The contents of the risk register may include the following EXCEPT:

Question 34 options:

Potential risk owners Benchmarking results List of identified risks List of potential risk responses

Question 35 (1 point)

The prequalification questionnaire should request the folling information EXCEPT:

Question 35 options:

Organizational chart Experience and track record Organization details and background Economic and financial standing

Question 36 (1 point)

Approved change requests can include modifications to the terms and conditions of the contract, including the procurement statement of work, pricing, descriptions of the products and services, or the results provided.

Question 36 options:

True False

Question 37 (1 point)

Procurement is the process of monitoring every aspect of the contract performance, the procurement relationships, making the necessary changes and corrections as needed, and closing out the contract

Question 37 options:

True False

Question 38 (1 point)

Which is not a method of appraisal?

Question 38 options:

Third party appraisal Field appraisal Desk appraisal UK appraisal service

Question 39 (1 point)

The contract closure procedure determines if the work that was described in the contract was completed accurately and satisfactorily, and oly applies to the phases, deliverables, or parts of the project that were performed under contract.

Question 39 options:

True False

Question 40 (1 point)

Tenders should initally be evaluated under the twin considerations of commercial and technical

Question 40 options:

True False

Question 41 (1 point)

Low ball, caucuas, trial balloon, and venue are types of the following:

Question 41 options:

Successful concessions BATNA Negotiation tactics Referent power

Question 42 (1 point)

New individual project risks may come to light as the project progresses throught the life cycle and the level of overall project risk will also change.

Question 42 options:

True False

Question 43 (1 point)

The organizational process assets that can influence the conduct procurements process include the following EXCEPT:

Question 43 options:

Organizational policies that influence the selection of a supplier Financial policies and procedures regarding invoicing and payment processes List of preferred suppliers that have been prequalified Prior agreements already in place

Question 44 (1 point)

A successful contract management strategy should achieve benefits EXCEPT by:

Question 44 options:

Allowing the achievement of both short-and long-term supplier performance improvement Managing the organization's own responsibilities during the contract Ensuring the supplier meets the minimum performance criteria. Level of understanding of the need by stakeholders and potential suppliers

Question 45 (1 point)

Referent power:

Question 45 options:

Means that one party is able to offer something of perceived value to the other party Relies on trying to influence the other party through facts, data, information, and persuasive arguments to support one's own positions Comes from interpersonal appeal based on socially acceptable individual qualities and attributes The official job position or title that an individual holds

Question 46 (1 point)

Five alternative strategies that may be considered for dealing with threats include the following EXCEPT:

Question 46 options:

Escalate Exploit Transfer Mitigate

Question 47 (1 point)

The following have resulted in the increasing recognition of the importance and benefits of effective contract management:

Question 47 options:

New regulatory requirements, globalization, increases in contract volumes and complexity Efficiencies in contract management, globalization, decreases in contract volumes Expected business benefits, supplier is cooperative, globalization, financial performance Financial performance, new regulatory requirements, expected business benefits

Question 48 (1 point)

A negotiator's position is the unspoken motivation or reason that underlies any given negotiation position.

Question 48 options:

True False

Question 49 (1 point)

One size fits all approach to contract form will be ineffective

Question 49 options:

True False

Question 50 (1 point)

A technical mistake or wording issue can cost your organization a lot of money

Question 50 options:

True False