Question 1

A company needs to source a product from oversea. It wants to overcome technical barrier to cross-border trade by using standards in the specification. Which of the following is most likely to be incorporated into that specification?

Options :

A : National standards

B : International standards

C : Company standards

D : Brands

Answer: B

Question 2

MWB operates serviced offices in central London. Rock entered a contractual licence with MWB to occupy office space in Marble Arch and had accumulated licence fees in arrears. The original licence agreement contained a ‘No Oral Modification’ clause that said: 'All variations to this licence must be agreed, set out in writing and signed on behalf of both parties before they take effect'.
After 6 months, Rock director re-negotiated to extend payment period over phone call and MWB credit controller agreed his proposal. Is this agreement considered as an effective variation to the original licence agreement?

Options :

A : No, because the mechanism for variation has been set out in the original contract

B : Yes, because parties who agree to altering the original contract orally despite a ‘No Oral Modification’ clause, must have intended to dispense with the clause

C : No, because Rock director assumed that the variation was effective and convinced credit controller to believe it

D : Yes, because the credit controller had agreed with Rock director’s proposal

Answer: A

Question 3

Sally places a purchase order to the supplier for some components that her company requires. The supplier delivers the goods as she asks, but the quality assurance team finds that these components are defective and unfit for the company's operations. Which document is the ground to decide whether the goods received are fit for purpose?

Options :

A : Code of conduct

B : CSR policies

C : Specification

D : Pre-qualification questionnaire

Answer: C

Question 4

According to mailbox rule in some common law countries, at which point the offeree's acceptance will be effective?

Options :

A : When the letter of acceptance has been written.

B : When the letter of acceptance is received by the offeror.

C : When the letter of acceptance has been correctly addressed, its postage paid, and posted.

D : When the letter of acceptance is opened and its contents read by the offeree.

Answer: C

Question 5

Transit New Zealand, a public railway authority in New Zealand, opens an ITT for a contract to realign the railroads at Vinegar Hill. The agency has a statutory obligation to employ a fair and transparent tendering process. Which of the following is one of the actions that the agency must perform to ensure their compliance with the law?

Options :

A : Deploying open tendering process in all projects

B : Deploying request for quotation in all projects

C : Using category management approaches to aggregate spend

D : Publicising the evaluation criteria

Answer: D

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