Which of the following statements is FALSE on contracts for the leasing of assets?

• A.The party responsible for maintenance, insurance and taxes is subject to negotiation
• B.In lease agreement, the possession and right of use of an asset are transferred to the lessee
• C.The ownership of leased asset is transferred to the lessee at the end of the period
• D.The lessee may bear some risks of ownership, such as the liability to insure the asset

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Which of the following is regulated by standard ISO 14001?

• A.Energy management
• B.Quality management systems
• C.Environmental management
• D.Information security management

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A Key Performance Indicator (KPI) states "Measure the effort exerted by the project team to control costs throughout the contract duration." Is this KPI appropriate for measuring the management of contract costs?

• A.Yes, increased efforts to control costs ensure that costs will be managed effectively
• B.No, the metric is not sufficiently specific and measurable
• C.No, the project team is not responsible for managing costs
• D.Yes, the KPI is achievable, relevant and time-bound

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Which of the following would be useful tools to incentivise supplier innovation over the duration of the contract?
1. Gainshare arrangement
2. Liquidated damages
3. Service credits
4. Fixed bonus payments

• A.3 and 4 only
• B.2 and 4 only
• C.1 and 4 only
• D.1 and 3 only

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Which of the following regulates barriers to the provision of services between countries?

• A.CISG
• B.GATS
• C.ADA
• D.Incoterms

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