Free CIPS A8 Exam Dumps and A8 Exam Questions

Question No: 1

MultipleChoice

Which of the following best describes the term 'retention money'?

Options

AA contractual arrangement where the buyer withholds a sum of money as an incentive for the supplier to complete all of the required work

BA contractual arrangement where the buyer agrees to pay the supplier at prescribed stages during the course of the contract

CA contractual arrangement where it is agreed that the buyer can delay payment over and above the usual invoice settlement period

DA contractual arrangement where it is agreed that the buyer will pay the seller in a currency other than that of its own country.

Question No: 2

MultipleChoice

Which of the following best describes the term 'retrospective discount'?

Options

AA special discount awarded by a seller to a buyer because the buyer's company is an old and valued customer

BA discount that will be awarded if the buyer places orders totalling more than an agreed value during the year

CAn arrangement whereby the price of an item is reduced the more of the item is purchased

DAn extra discount awarded by a seller to a buyer after keen negotiation.

Question No: 3

MultipleChoice

Which of the following most closely describes the provision of the Sale of Goods Act 1979 regarding 'title'?

Options

AThere is an implied condition on the part of the seller that they have the right to sell the goods

BThere is an implied condition on the part of the buyer that they have the right to buy the goods

CThere is an implied condition that goods should always be properly titled in sellers' catalogues

DThere is an implied condition that any contract document should be clearly titled 'contract'.

Question No: 4

MultipleChoice

Which of the following best describes a 'retention clause'?

Options

AA contract clause stating that the buyer will withhold a percentage of the sum owing to the supplier for a certain time period to ensure satisfactory completion of the contract

BThe buyers company delaying payment of an invoice in order to earn interest on the money thus being retained

CAn agreement whereby the buyer and seller agree that the buyer shall pay certain percentages of the contract price in line with agreed percentages of the job having been completed

DA contract clause that states that the seller will retain title to the goods until the buyer has paid the invoice in full.

Question No: 5

MultipleChoice

Which of the following best describes a purchasers 'request for quotation'?

Options

AA document sent to a supplier indicating a budget price which the purchaser expects to pay for an item

BA document sent to a supplier asking the supplier to provide prices for a product or service to be supplied

CA document sent to a supplier to order goods or services from the suppliers catalogue

DA document sent to a supplier to indicate the actual delivery quantity required to reinforce a blanket order.

Question No: 6

MultipleChoice

Which of the following best describes the 'battle of the forms'?

Options

ABuyer and seller arguing about aspects of a contract during negotiation when they are looking to commit an agreement to paper

BA situation where documents exchanged by buyer and seller represent 'counter-offers' rather than acceptance of an offer

CThe buyer holding discussions with the seller over the perceived failure to carry out contractual duties, such as late delivery

DBuyer and seller cannot agree on the type of contract to be used, for example, between an annual contract and a short-term contract.

Question No: 7

MultipleChoice

Which of the following best defines the term 'retention clause'?

Options

AThe supplier keeping the goods to be supplied and not delivering them until the buyer has paid for them in full

BAn agreed percentage of the contract price held back by the buyer to be paid when they are satisfied as to the quality of goods delivered or work completed.

CThe supplier retaining legal title to goods that have been delivered until the buyer has paid for them in full

DAn agreement whereby the supplier will keep spare parts available, for equipment supplied to the buyer, for a certain time period.