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Tolerate, transfer, terminate or …?
Tolerate, transfer, terminate or …?A . TakeB . TryC . TestD . TreatView AnswerAnswer: D Explanation: This is about risk, and the answer is 'treat'. Risk management strategies can be classified into 'the 4 T's', which you need to know for your ex-am. Treating the risk is essentially seeking to...
Which one of the following could not be classed as a form of performance specification?
Which one of the following could not be classed as a form of performance specification?A . FunctionalB . Outcome-focusedC . Output-basedD . Input-drivenView AnswerAnswer: D Explanation: Since performance specifications are all to do with outputs, 'input-driven' leaps out as being the correct answer here.
Which one of the following is least likely to be a barrier to free trade?
Which one of the following is least likely to be a barrier to free trade?A . Exchange controlsB . Subsidies for exporters and internal producers of productsC . Trading blocsD . EmbargoesView AnswerAnswer: C Explanation: Trading blocs eg EU, EFTA, ASEAN aim to free up trade within the bloc; the...
In which quadrant of a SWOT analysis would ‘well-developed management skills, unique intellectual property rights and sound financial backing’ appear?
In which quadrant of a SWOT analysis would ‘well-developed management skills, unique intellectual property rights and sound financial backing’ appear?A . TB . WC . SD . OView AnswerAnswer: C Explanation: Strengths.
Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:
Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:A . Uni formB . Model formC . Paper formD . Trans formE . Good formView AnswerAnswer: B Explanation: These are 'model form' contracts. Industry standard templates eg...
‘A purchasing procedure whereby potential suppliers are invited to make a firm and unequivocal offer of the price and terms on which they will supply specified goods or services which, on ac-ceptance, shall be the basis of the subsequent contract’
‘A purchasing procedure whereby potential suppliers are invited to make a firm and unequivocal offer of the price and terms on which they will supply specified goods or services which, on ac-ceptance, shall be the basis of the subsequent contract’A . Competitive dialogueB . Request for informationC . Invitation to...
Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.
Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.A . Opportunity costB . Absorption costC . Indirect costD . Overhead costView AnswerAnswer: A Explanation: An opportunity cost is the cost of not being able to do something else. For example,...
How many 'Whys'?
How many 'Whys'?A . FiveB . FourC . ThreeD . SixView AnswerAnswer: A Explanation: 'Five-Why Analysis' or 'Why-Why Analysis' is an approach to trying to determine the cause of an event. It can be used to link to / in conjunction with an Ishikawa diagram. The principle is that one...
Which word was not one of these three key criteria?
Johnson, Scholes and Whittington suggested three key criteria for options which can be used in the evaluation of a business case. Which word was not one of these three key criteria?A . TransferabilityB . FeasibilityC . AcceptabilityD . SuitabilityView AnswerAnswer: A Explanation: 'Is it acceptable, feasible and suitable?' are the...
Which of the following are internal factors in supplier decision-making? Choose two.
Which of the following are internal factors in supplier decision-making? Choose two.A . Extent of competition in the marketplaceB . Cost of productionC . Shareholder and managerial expectations of profitD . Customer perceptions of valueView AnswerAnswer: B, C Explanation: Cost of production, and shareholder and managerial expectations of profit, are...
