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Dec 09, 2022
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NEW QUESTION 51
Which of the following is a quantative method for completing a risk assessment and an alternative to using an impact scale?
- A. impact analysis
- B. rating of 1-5
- C. 4 Ts
- D. monetary value
Answer: D
Explanation:
Explanation
P. 133 of the study guide says 'it is also possible for organisation to use a quantative method where they quantify the loss in terms of monitory value instead of an impact figure'. Rating 1-5 is incorrect because this is the same as an impact scale. Impact analysis is wrong because this isn't quantative. 4Ts are the ways you can mitigate risks.
NEW QUESTION 52
Khalid is a procurement manager who works at a manufacturing organisation based in the UK. The organisation creates building fabric materials by converting raw materials such as steal into useable items in the construction industry. Khalid sources most of his steal internationally due to competitive prices. On one occasion with his usual supplier, the ship that is carrying the materials sinks due to an unexpected storm.
Which clause would be activated within the contract?
- A. transportation clause
- B. breach of contract
- C. force majeure
- D. liability clause
Answer: C
Explanation:
Explanation
this is an example of force majeure. Force majeure is a popular exam topic and comes up in chapter 2.1 p. 66.
A force majeure is when an event, such as a storm, happens which affects the delivery of the contract, but over which neither party has any control.
NEW QUESTION 53
The triple bottom line is a way to refer to sustainability practices. Which of the following is included within the Triple Bottom Line? 1. People, 2. Profit, 3. Price, 4. Planet 5. Power.
- A. 1,2 and 3
- B. 1,2 and 4
- C. 1,3 and 5
- D. 2, 4 and 5
Answer: B
Explanation:
Explanation
Triple Bottom Line - people, profit and planet - options 1, 2 and 4. See p.45 for more details on sustainability
NEW QUESTION 54
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