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Contract Administration

Last Update Dec 22, 2024
Total Questions : 90 With Comprehensive Analysis

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Questions came word by
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Contract Administration Questions and Answers

Questions 1

Assume you calculate a selling price by adding a profit element onto costs. Assume the profit ele-ment is equivalent to 100% of costs.

Is mark-up or margin being described here?

Options:

A.

Margin

B.

Don't know.

C.

(Well take a guess then...)

D.

Mark-up

Questions 2

Which of the following risks, which could severely impact on a business, is least likely to occur, in your judgment?

Options:

A.

Liquidation of a supplier’s business because of financial weakness

B.

Sinking of cargo ship in a storm in the English Channel

C.

Airport workers’ strike in country of export

D.

Global virus pandemic affecting all countries, and resulting in millions of deaths

Questions 3

Which of the following would not normally be included in a whole life cost calculation?

Options:

A.

Purchase price

B.

Cost of setting up the tender

C.

Defective work, which needs to be rectified.

D.

Inventory costs

Next Question
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