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Last Update Jul 12, 2024
Total Questions : 90 With Comprehensive Analysis

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Contract Administration

Last Update Jul 12, 2024
Total Questions : 90 With Comprehensive Analysis

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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?





Don't know.


(Well take a guess then...)



Questions 2

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



Liquidation of a supplier’s business because of financial weakness


Sinking of cargo ship in a storm in the English Channel


Airport workers’ strike in country of export


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?



Purchase price


Cost of setting up the tender


Defective work, which needs to be rectified.


Inventory costs