Preview Questions Contract Manager | Role Specific Skill

Question 1: How should a Contract Manager approach vendor performance issues during a contract's mid-term in FMCG?

Which action should you take?

Choose only one option

By ignoring the issues and waiting for the contract to end.

By initiating a review of the contract terms and addressing any underperformance with corrective actions.

By renegotiating the contract without considering performance.

By terminating the relationship without attempting resolution.

Question 2: What is the advantage of including an escalation clause in an FMCG contract?

Which action should you take?

Choose only one option

It provides a structured process to resolve disputes before they escalate to litigation.

It eliminates the need for any dispute resolution procedures.

It allows for immediate termination of the contract without any review.

It gives exclusive rights to the supplier to resolve disputes.

Question 3: How do you ensure that a vendor's intellectual property (IP) rights are protected in FMCG contracts?

Which action should you take?

Choose only one option

By including clear clauses about ownership, usage, and protection of IP during and after the contract

By excluding IP clauses to avoid complexity in negotiations

By allowing vendors to retain all rights to any IP they create

By assuming that vendors will comply with IP protection standards without contractual terms

Question 4: How should you address the issue of non-compliance with contract terms by an FMCG vendor?

Which action should you take?

Choose only one option

By issuing formal warnings and escalating to dispute resolution if necessary

By renewing the contract regardless of past issues

By accepting non-compliance as part of the vendor's flexibility

By reducing the performance expectations in the next contract

Question 5: What is the primary concern when negotiating force majeure clauses in contracts with FMCG suppliers?

Which action should you take?

Choose only one option

Allowing the supplier to define the force majeure events.

Focusing only on product-specific risks.

Ensuring that natural disasters, strikes, and other major disruptions are clearly defined.

Limiting the list of force majeure events to only financial hardships.

Question 6: How can "compliance with trade regulations" be ensured when drafting international FMCG contracts?

Which action should you take?

Choose only one option

By defining the intellectual property rights only in the country of origin

By including terms that align with international trade laws and sanctions

By excluding trade terms and leaving them to the discretion of the parties

By focusing on the delivery schedules for international shipments