Preview Questions Contract Manager | Role Specific Skill

Question 1: How does risk management in FMCG supplier contracts help with regulatory compliance?

Which action should you take?

Choose only one option

By delegating regulatory responsibility to the supplier's legal department.

By including clauses that require suppliers to adhere to local and international regulations.

By ignoring regulatory requirements to reduce complexity.

By focusing on product pricing over regulatory concerns.

Question 2: Why should "legal fees" be addressed in the dispute resolution section of FMCG contracts?

Which action should you take?

Choose only one option

To shift the legal costs to the third-party mediator

To avoid legal fees entirely by excluding the clause

To ensure the fees are equally distributed between the parties

To specify which party will bear the costs of legal action in case of a dispute

Question 3: What is the purpose of a "compliance audit" clause in a contract for an FMCG supplier?

Which action should you take?

Choose only one option

To allow one party to review the other party's adherence to laws, regulations, and contractual obligations.

To review financial records without focusing on legal adherence.

To ensure that the supplier adheres to the pricing model only.

To monitor only product quality standards.

Question 4: How can a Contract Manager protect an FMCG company from legal issues in international contracts?

Which action should you take?

Choose only one option

By reducing the number of clauses to simplify negotiations.

By ensuring compliance with both local and international laws and including jurisdiction clauses.

By excluding international arbitration clauses.

By focusing only on the delivery terms and ignoring international regulations.

Question 5: How should "compliance with laws and regulations" be incorporated into FMCG contracts to manage risks?

Which action should you take?

Choose only one option

By assuming that general corporate policies will cover all compliance issues

By removing all regulatory references to simplify the contract

By ensuring all contracts are aligned with applicable industry regulations and setting penalties for non-compliance

By only focusing on tax compliance and ignoring other laws

Question 6: How can a "confidentiality agreement" help manage intellectual property risks in FMCG contracts?

Which action should you take?

Choose only one option

By preventing unauthorized sharing of proprietary information and ensuring that trade secrets are protected during and after the contract term.

By assuming that intellectual property is automatically protected under law.

By allowing the supplier to use the intellectual property for their own benefit.

By excluding any intellectual property clauses from the contract.