Question 1

When procuring a machinery, at which stage buyer must check whether that machinery is working to the standards set out in the design specification?

Options :

A : Customer support

B : Maintenance and repair activities

C : Manufacture

D : Installation

Answer: D

Question 2

Which of the following standards specifies requirements for a quality management system?

Options :

A : ISO 9001:2015

B : ISO 22000:2018

C : ISO 27001

D : ISO 14001:2015

Answer: A

Question 3

What are the three components needed to calculate the break-even point?

Options :

A : Variable costs, gross profit margin, and sales revenue

B : Fixed costs, contribution margin, and sales volume

C : Variable costs, contribution margin, and fixed costs

D : Fixed costs, variable costs, and selling price

Answer: D

Question 4

Given that Wilkinson Ltd operates in a market where customers are highly budget-conscious, what is the likely implication for the bargaining power of suppliers and buyers?

Options :

A : Suppliers’ bargaining power will increase, while buyers’ bargaining power will decrease.

B : There will be no significant change in the bargaining power of either suppliers or buyers.

C : Both suppliers’ and buyers’ bargaining power will decrease.

D : Suppliers’ bargaining power will decrease, while buyers’ bargaining power will increase.

Answer: D

Question 5

Which of the following specific markets engage in creation, liquidation and change of ownership of stock?

Options :

A : Financial

B : Construction

C : Retail

D : Manufacturing

E : Agriculture

Answer: A

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