DBIA EXAM 3 | ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ | WITH A STUDY GUIDE| 2024

DBIA EXAM 3 | ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+ | WITH A STUDY GUIDE| 2024 What 3 categories are the Best Practices organized into? Correct Answer 1. Procurement 2. Contracting 3. Execution If these Best Practices are NOT implemented, there is an increased _____ that the project's performance will be _____ and that some or all of the stakeholders will be _____. Correct Answer - probability - compromised - disappointed. What are the 4 types of law? Correct Answer 1. Contract Law 2. Tort Law 3. Statutes and regulations 4. Common Law _____ Law is based on the use of precedent. Correct Answer Common Arbitration and mediation results don't provide direct _____. Correct Answer precedent _____: a party offers to contract with one another. Correct Answer Offer _____: a party accepts the other party's offer. Correct Answer Acceptance _____: value exchanged for performance. Correct Answer Consideration _____: the party making the contract must be legally able to do so Correct Answer Capacity _____: the individual forming the contract must have authority to do so Correct Answer Authority What are the 5 requirements for a valid contract? Correct Answer 1. Offer 2. Acceptance 3. Consideration 4. Capacity 5. Authority Offers must demonstrate an expression of _____ to contract on certain terms. Correct Answer willingness The response to an RFP is an example of a(n) _____. Correct Answer Offer What 2 things can nullify an offer? Correct Answer 1. Varying/additional terms 2. Counteroffers Oral contracts can be valid. True or False? Correct Answer True Oral contracts can be valid on what 2 requirements? Correct Answer 1. Material terms of contract are clearly established. 2. Parties demonstrate intention to be bound by those material terms _____ ______ contracting rule makes it very difficult to create an Oral contract. Correct Answer Public Sector _____ _____ _____ mandates that certain types of contracts be written. Correct Answer Statute of Frauds What is an example of a contract that the Statute of Frauds mandates to be written? Correct Answer contracts that are impossible to complete within one year "Where a contract does not fix a definite price, there must be