Functional Analyst - Contract Management Flashcards
A Lease or rental contract can be used for both rotating and non-rotating items.
Select one:
a.
True
b.
False
False
A price agreement can be used for bulk ordering.
Select one:
a.
True
b.
False
True
A warranty contract defines the agreement to maintain one or more assets with an outside vendor for a fee or a scheduled set of payments.
Select one:
a.
True
b.
False
true
At what level are contract options?
Select one:
a.
Site
b.
System
c.
Database
d.
Organization
Organization
Before a contract can be approved, it must be authorized for at least one site, with the exception of Labor Rate Contracts.
Select one:
a.
True
b.
False
True
Before a master contract can be approved, it must be authorized for at least one site.
Select one:
a.
True
b.
False
True
Blanket contracts can be used for bulk ordering.
Select one:
a.
True
b.
False
False
How are associated contracts created?
Select one:
a.
Through a master contract only
b.
Through its own contract type application, only
c.
Through a master contract and through contract options
d.
Through both a master contract and through its own contract type application
Through a master contract only
How do warranty contracts entered into Maximo benefit an organization? (Choose Two)
Select one or more:
a.
You can recover costs associated with performing warranty
b.
You can use Maximo to change the terms or conditions of the contract.
c.
You can use Maximo to reduce the cost of an extended warranty contract.
d.
You can avoid incurring costs by having the vendor perform the warranty work.
You can recover costs associated with performing warranty,
You can avoid incurring costs by having the vendor perform the warranty work.
Line item quantities on a blanket contract represent the total expected volume for the contract period.
Select one:
a.
True
b.
False
False
One advantage of entering warranty contracts into Maximo is:
Select one:
a.
You can choose to replace instead of repairing the asset.
b.
You can reduce the cost of an extended warranty contract.
c.
Maximo can notify that an asset or equipment is under warranty.
d.
You can use Maximo to change the terms or conditions of the contract.
Maximo can notify that an asset or equipment is under warranty.
Terms and conditions on a master contract can be propagated to both purchasing records and to the associated contracts.
Select one:
a.
True
b.
False
False
The Total Cost field is calculated from the cost of the associated contracts.
Select one:
a.
True
b.
False
False
You can use commodity groups and codes with contracts for all of the following, except:
Select one:
a.
Track by vendor
b.
Report Spending
c.
Add related terms
d.
Search for contracts
Add related terms
Use the Inherit Rate from contract check box to copy contracted rates to the Crafts application.
Select one:
a.
True
b.
False
False
Use the Total Cost field to enter the estimated value of the contract.
Select one:
a.
True
b.
False
False
Use the Total Cost field to enter the maximum value of the contract.
Select one:
a.
True
b.
False
False
Using the Terms and Conditions application, you can add the terms and conditions to BOTH a purchasing document and to a contract.
Select one:
a.
True
b.
False
False
When a warranty exists for an asset, you can turn off the alert message that displays when a work order is raised against the warranted asset.
Select one:
a.
True
b.
False
True
Which of the following is not a life-cycle action for all types of contracts?
Select one:
a.
Apply terms
b.
Set properties
c.
Authorize Sites
d.
Approve contracts
: Authorize Sites
Which of the following is not a valid property of blanket contracts?
Select one:
a.
Extendable
b.
Process Claim
c.
Acceptance Loss
d.
Can Exceed Amount
: Process Claim
Which of the following is not a valid property of Labor Rate contracts?
Select one:
a.
Claim processing
b.
Vendor termination
c.
Customer termination
d.
Extending the contract
Claim processing
Which of the following is not a valid property of Lease Rental contracts?
Select one:
a.
Claim processing
b.
Buyout In Force?
c.
Acceptance losses
d.
Move notifications
e.
Extendable contract
Claim processing
Which of the following is not a valid property of price agreements?
Select one:
a.
Extendable
b.
Process Claim
c.
Shipping Loss
d.
Acceptance Loss
e.
Notify on Casualty?
Process Claim
Which of the following is not a valid property of purchase contracts?
Select one:
a.
Extendable
b.
Shipping Loss
c.
Process Claim
d.
Acceptance Loss
e.
Can Exceed Amount
: Process Claim
Which of the following is not an organization contracting option?
Select one:
a.
Associate terms
b.
Associate properties
c.
Create a synonym contract type
d.
Associate contract types with sites
Associate contract types with sites
Which of the following labor options do not affect Labor Rate contracts, when internal charge-backs are not being used?
Select one:
a.
Automatically Approve Inside Labor Transactions
b.
Automatically Approve Outside Labor Transactions
c.
Automatically approve invoices from Labor Transactions
d.
Allow mismatched Craft and Labor when reporting actuals
Automatically Approve Inside Labor Transactions
Which type of purchase contract includes a payment schedule?
Select one:
a.
Price
b.
Blanket
c.
Purchase
d.
Agreement
Purchase
Which type of purchase contract specifies the prices to be paid for specific items?
Select one:
a.
Agreement
b.
Price
c.
Purchase
d.
Blanket
Price
Which type of purchase contract specifies the total monetary amount to be purchased?
Select one:
a.
Price
b.
Blanket
c.
Purchase
d.
Agreement
Blanket
You associate known labor in order to approve the contract.
Select one:
a.
False
b.
True
False
You can associate assets with a warranty contract at any time, however, the contract must be approved before authorizing sites.
Select one:
a.
True
b.
False
False
You can make changes to a price agreement contract at any time, unless a PO is written against the contract.
Select one:
a.
True
b.
False
False
You can make changes to a purchase contract at any time, unless a PO is written against the contract.
Select one:
a.
False
b.
True
False
