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CIPS L5M2 Exam - Topic 1 Question 34 Discussion

Actual exam question for CIPS's L5M2 exam
Question #: 34
Topic #: 1
[All L5M2 Questions]

Which of the following statements about FIDIC Contracts are true? Select TWO:

Show Suggested Answer Hide Answer
Suggested Answer: D

The correct answers are as follows:

The consequences of this risk are huge, therefore the risk should be terminated. This means the cause of the risk is taken away (i.e. the animal testing).


by Virgie at Jun 03, 2024, 08:18 AM

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Josefa
3 months ago
Compensation Event is a classic term in FIDIC contracts!
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Sharan
3 months ago
Early warning notices are definitely a thing in FIDIC.
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Vallie
3 months ago
Wait, are they really more collaborative? I thought it was the other way around.
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Gayla
4 months ago
Totally agree, but I think NEC is more collaborative!
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Erasmo
4 months ago
They are used in the construction industry.
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An
4 months ago
I vaguely recall something about early warning notices, but I can't remember if that's specific to FIDIC or not.
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Jesus
4 months ago
I practiced a similar question where change control was mentioned. I think option E about 'Compensation Event' is correct.
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Catherin
4 months ago
I'm not sure about the collaboration aspect compared to NEC contracts. I feel like I need to double-check that one.
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Ashley
5 months ago
I remember FIDIC contracts are definitely used in construction, so I think option A is true.
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Adelina
5 months ago
This question seems straightforward, but I want to make sure I get the details right. I'll carefully read through each option and select the two that are most accurate.
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Malika
5 months ago
Ah, I remember learning about FIDIC contracts in class. I think the key is understanding the collaborative nature and the early warning system. I'll focus on those aspects.
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Catarina
5 months ago
Okay, I know FIDIC contracts are used in construction, but I'm not certain about the specifics on risk management and change control. I'll need to double-check those points.
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Georgeanna
5 months ago
Hmm, I'm not too sure about the differences between FIDIC and NEC contracts. I'll have to review those details.
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Gearldine
5 months ago
I'm pretty familiar with FIDIC contracts, so I think I can handle this one. Let me think it through.
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Maynard
5 months ago
Schedule seems like the most likely option that's not a trigger type. I'll go with that.
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Howard
5 months ago
I practiced a similar question, and I think A and D are true, but I'm hesitating on the third one.
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Elise
9 months ago
I feel like the FIDIC Contracts are a secret society or something. All these unique terms and procedures - it's like they have their own language. But hey, at least they're trying to keep things interesting in the construction world!
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Ernie
9 months ago
Ah, the age-old FIDIC vs. NEC debate. I'm just going to go with 'more collaborative' and hope for the best. As long as I don't have to worry about any 'Compensation Events' or early warning notices, I think I'll be alright.
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Bernardine
9 months ago
Hmm, managing risks separately? That sounds a bit outdated. I thought the whole point of FIDIC was to foster more collaboration between the parties. Maybe I'm missing something here.
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Caprice
8 months ago
Yes, FIDIC contracts are commonly used in construction projects and they do require early warning notices to be given when risks arise.
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Mariann
8 months ago
D) Early warning notices are given when risks arise
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Tracey
8 months ago
Hmm, managing risks separately? That sounds a bit outdated. I thought the whole point of FIDIC was to foster more collaboration between the parties. Maybe I'm missing something here.
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Marsha
9 months ago
A) They are used in the construction industry
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Ressie
9 months ago
D) Early warning notices are given when risks arise
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Antione
9 months ago
A) They are used in the construction industry
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Owen
10 months ago
Interesting that 'Early warning notices' are given when risks arise. That could really help project teams get ahead of potential issues. And 'Compensation Event' for change control - that's a clever way to handle it.
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Maybelle
9 months ago
D) Early warning notices are given when risks arise
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Lashaunda
9 months ago
A) They are used in the construction industry
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Marlon
10 months ago
FIDIC Contracts are definitely used in the construction industry, that's a no-brainer. But I'm not sure about the collaboration aspect compared to NEC contracts. Guess I'll have to do some more research on that one.
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Chara
10 months ago
I agree with Colby, A and D make sense because FIDIC Contracts are used in construction and early warning notices are given.
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Kristofer
10 months ago
I think B and E are the correct statements.
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Colby
11 months ago
A and D are true.
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