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Free L3M3 Exam Braindumps (page: 9)

Page 8 of 23
PDF with 90 Questions

In legal circles, ownership of something is often called:

  1. Tithe
  2. Tittle-tattle
  3. Title
  4. Total

Answer(s): C

Explanation:

Title. In order to be sure you own something, you have to make sure you have acquired 'good title'.



Tolerate, transfer, terminate or ...?

  1. Take
  2. Try
  3. Test
  4. Treat

Answer(s): 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 minimise the likelihood or impact of the risk. An example might be to carefully monitor key suppliers' ongoing financial performance to minimise the likeli- hood of their going into liquidation during the course of a contract with us. Etc.



Which of the following statements is untrue? Select two.

  1. The framework arrangement establishes the basic terms and conditions that will apply to subsequent orders
  2. A framework arrangement cannot be used for consultancy services, although it can be used for construction work.
  3. There is an obligation to buy under a framework arrangement
  4. In most cases, a framework arrangement is not itself a contract.

Answer(s): B,C

Explanation:

There is no obligation to buy under a framework arrangement; and a framework can be used for consultancy services.



Contribution is equivalent to:

  1. Selling price minus total costs
  2. Selling price
  3. Selling price minus fixed costs
  4. Selling price minus variable costs

Answer(s): D

Explanation:

Selling price minus variable costs = contribution., or more accurately 'contribution towards fixed costs and making a profit'. I find this longer term for 'fixed costs' to be quite helpful in clarifying exactly what we are talking about here.






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