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Cleveland Insurance (Cleveland) offers a range of insurance services. The main software used in the call centre is a customer relationship management (CRM) system. Cleveland perceived an urgent need to replace the existing CRM system to deal with the increasing number of customers and services. Urgent Digital Ltd (Digital) is...

Which of the following will be always automatically deemed as a consideration?A . Promise to perform over and above an existing obligation B. Promise given to a third party C. Implied consideration D. Past considerationView AnswerAnswer: A Explanation: Consideration only appears in common law countries. Below are some examples of...

Technical and physical characteristics of the productA . 2 and 4 only B. 1 and 2 only C. 1 and 4 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are 2 major types of specifications:

The pricing arrangement in which markup is added into cost base to calculate the final price is known as...?A . Fixed Price approach B. Market based approach C. Price indices D. Cost plus pricingView AnswerAnswer: D Explanation: The market approach is a method of determining the value of an asset...

Under hire purchase agreement, when will the ownership of asset legally belong to the purchaser?A . When the final instalment is paid B. When the purchaser takes possession of the asset C. When the down payment is made D. When the agreement is signedView AnswerAnswer: A Explanation: Hire purchase is...

Blakenall District Hospital (BDH) is a large hospital that is a major part of the government’s health service. Purchasing staff are in the habit of placing many long-term contracts with suppliers and sub-contractors. Whilst these contracts are usually carried out successfully, prices are often paid that are well over budget....

Product functionA . 2 and 4 only B. 3 and 4 only C. 1 and 2 only D. 1 and 3 onlyView AnswerAnswer: A Explanation: There are two main types of specification: performance specification and conformance specification (sometimes called prescriptive or technical specifications). Performance specifications have following features: - Focus...

Technical and physical characteristics of the productA . 2 and 4 only B. 1 and 2 only C. 1 and 4 only D. 2 and 3 onlyView AnswerAnswer: D Explanation: There are 2 major types of specifications:

Abolition of forced laborA . 1, 2 and 4 only B. 2, 3 and 4 only C. 1, 3 and 4 only D. 1, 2 and 3 onlyView AnswerAnswer: C Explanation: ILO Declaration on Fundamental Principles and Rights at Work was adopted in 1948. The Declaration commits Member States to...

A senior procurement specialist in UK is preparing a specification in which ISO standards are used to send to global suppliers. Is this action appropriate?A . No, the procurement specialist must use BSI standards instead B. Yes, evert specification must have ISO standards C. Yes, ISO standards are globally recognisable...