EMT Practice Test

1. Question Content...

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Question1: Which of the following will you put into box 6?

Question2: Which of the following will you put into box 7?

Question3: Which of the following conflict resolution styles involves a strict timeline and is commonly used within the construction industry?

Question4: Kranky Kat Ltd has just been through an adjudication process with a supplier it worked with who committed a breach in the contract. Kranky Kat is not happy with the outcome of the adjudication, what can Kranky Kat do?

Question5: A large financial organisation ensures that they have contracts with all of their suppliers. In which instance would indemnity not necessarily form part of the contract?

Question6: Restitution damages are often calculated before contracts are signed and are clearly stated within a contract. Which of the following statements is not true?

Question7: Which of the following processes is the most adversarial?

Question8: Which of the following is not a way in which a contract can end?

Question9: Lisa has a contract with an internet provider and the contract stated the need for Wi-Fi to be online 100% of the time. The Wi-Fi has only been available 97% of the time. In order for Lisa to claim compensation from her internet provider, which of the following would need to be present in the contract?

Question10: David is selling his house and Barbera would like to buy it. David is expecting to get £100,000 for his house. Barbera offers £80,000 and David asks Barbera if she'll pay £90,000 instead. Barbera says no. After a week David hasn't had any other offers so would like to accept Bar-bera's offer. Can he do this?

Question11: An agreement in which an organisation is not accountable for any damages that occur during a contract is known as what?

Question12: Where two parties are engaged in international trade and have a long term relationship and a degree of mutual trust, which payment mechanism is commonly used?

Question13: Tyrone Enterprises has just come out of a meeting with one of its suppliers Bob. The meeting has not gone well and the contract has become frustrated. What does this mean?

Question14: Which of the following would not be considered acceptance of a contract term?

Question15: Sarah is a baker and orders free-range eggs from a local supplier which she uses to make cakes. There is a contract in place which included a specification that states that the eggs must be free-range. One day the supplier delivers eggs which Sarah uses in the cakes. Later she dis-covered that these were not free-range. Sarah believes that the supplier has broken the con-tract. Is this true?

Question16: Sam is a factory manager and has purchased a new fixed asset on a loan purchase agreement. There is a forbearance agreement between the Factory and the provider. What does this mean?

Question17: Which of the following will you put into box 1?

Question18: Which of the following will you put into box 1?

Question19: Which of the following will you put into box 2?

Question20: Which of the following situations would be considered a minor breach of a contract? Select TWO:

Question21: When assessing damages caused by a breach, which of the following statements is true?

Question22: A buyer and supplier have a contract and the supplier has committed a major breach. However, as they are the sole supplier to the buyer, the buyer has decided not to terminate the contract and instead to work with the supplier to remedy the situation. What is this called?

Question23: Which of the following will you put into box 7?

Question24: Which of the following will you put into box 8?

Question25: Perry is seeking a resolution to a conflict he has with his supplier. He wants a third party to make a binding and legally enforceable decision and wants the issue to remain confidential. He is considering litigation. Is this the best solution for Perry?

Question26: Tutu Incorporated has a contract with a software company to provide their IT software. They want to ensure that the supplier pays compensation if there are any issues with service (e.g. the software doesn't work for a day). Which two items would Tutu Incorporated need to include in the contract?

Question27: Which of the following will you put into box 2?

Question28: Which of the following would not be considered a contract? Select TWO

Question29: What is the purpose of conflict resolution?

Question30: What is the name given to a term in a contract where one party promises to compensate the other party for a trigger event?

Question31: A breach of representation by party A in a contract would allow party B to do what?

Question32: When considering consequential loss, can a cap be placed on the amount claimed?

Question33: Which of the following conflict resolution styles may involve a private caucus and a joint ses-sion?

Question34: Which of the following will you put into box 3?

Question35: What is the purpose of a liability clause in a contract?

Question36: George is a procurement manager at a manufacturing company and is reviewing a contract he has with a supplier. He notes that there are multiple appendices to the contract and there is no Precedence of Documents. What does this mean for the contract?

Question37: Logan Gin Distillery is creating a contract for one of its new suppliers. It is a complicated item that they are ordering and if things go wrong, it would have an extremely negative impact on production, and therefore on revenue. However it is impossible to say what the cost of this would be if things were to go wrong. What type of clause should be included in the contract?

Question38: Which of the following will you put into box 7?

Question39: Robert has a contract with Farmer Ted who provides his manufacturing firm with potatoes. There is a contract in place, signed by both parties that Ted will deliver 2 tonnes of potatoes per week. Due to changes in demand, Robert would like Ted to start providing 3 tonnes of potatoes every three weeks. What must be in place for this change to occur?

Question40: If a party is to 'repudiate' a contract, what does this mean?