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CIPS L4M3 Exam - Topic 6 Question 1 Discussion

Actual exam question for CIPS's L4M3 exam
Question #: 1
Topic #: 6
[All L4M3 Questions]

Which of the following are implied terms in sales contracts? Select THREE that apply.

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Suggested Answer: C, D, E

Generally, under the Sale of Goods Acts (in UK, Singapore, Australia,...) or Commercial Codes (in France, Germany, Vietnam,...), the sale contracts have the following implied terms:

- the seller has the right to sell the goods. This is also a condition of the contract

- the goods are free from undisclosed security interests

- the goods supplied under the contract will be reasonably fit for any purpose which the buyer made known to the seller

- sales of unseen goods will be of merchantable quality, and match their description and conform with a sample.

- Passing of risk

- Passing of possession and title

...


LO 3, AC 3.1

by Lorean at Oct 12, 2022, 03:24 AM

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Jutta
4 months ago
Wait, are we really saying payment method is implied? That seems off.
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Cristy
4 months ago
Risk transfer is a must in sales contracts!
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Tonette
4 months ago
Not sure about customer satisfaction being implied.
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Mica
4 months ago
I think fitness for purpose is also implied!
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Maurine
4 months ago
Transfer of ownership is definitely an implied term.
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Sue
5 months ago
I thought "payment method" was more of an explicit term, but I guess it could be implied in some cases?
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Rodolfo
5 months ago
I feel like "fitness for purpose" is also an implied term, but I can't recall if "customer satisfaction" counts.
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Lamonica
5 months ago
I remember practicing a question about implied terms, and "risk transfer" seemed important in that context.
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Gilberto
5 months ago
I think "transfer of ownership" is definitely one of the implied terms, but I'm not sure about the others.
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Catarina
5 months ago
This is a tricky one, but I think I've got a strategy. I'll carefully read through each option and try to visualize how the team member hierarchy change would impact the existing targets.
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Micah
5 months ago
The FULL option for ANALYZE can reduce the file size, so I'm pretty sure C is correct. I'm not as sure about the other statements, though.
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Bernadine
5 months ago
This is a good test of our PIM knowledge. I remember the Candidate-RP uses a specific multicast address to communicate with the BSR, so I'll eliminate the unicast options and go with A.
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Rodrigo
5 months ago
Okay, let me think this through step-by-step. I know mutual funds can't be purchased on margin, and investors can buy and sell fractional shares. The 7-day payout requirement also sounds familiar. I think I've got a good handle on this.
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