SPLP® Prep Exam
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Question 1 of 164
1. Question
The definition of a “general partnership” is a relationship between multiple entities where value is provided to all participants.
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Question 2 of 164
2. Question
The primary difference between general partnerships and strategic partnerships is: general partnerships always include a revenue share.
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Question 3 of 164
3. Question
The 3 types of business growth are Organic, Acquisition, and Partner.
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Question 4 of 164
4. Question
Of the three types of growth, organic is the most collaborative.
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Question 5 of 164
5. Question
The success rate of B2B partnerships is 45%.
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Question 6 of 164
6. Question
The Business Growth Flowchart is the best PARTNERNOMICS tool for identifying your ‘growth engine’.
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Question 7 of 164
7. Question
The Partnership Success Pyramid is the PARTNERNOMICS tool used as the ‘yardstick’ to continually evaluate fit.
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Question 8 of 164
8. Question
The Strategic Partner Leadership Model illustrates the magnetic pull of products/services toward the commodity zone.
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Question 9 of 164
9. Question
The Business Growth Flowchart includes the use of SWOT analysis.
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Question 10 of 164
10. Question
The Partnership Success Pyramid includes the use of 6-Cs framework.
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Question 11 of 164
11. Question
The Quadrants of Solutions tool includes Eli Goldratt’s ‘Theory of Constraints’ framework.
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Question 12 of 164
12. Question
The Power Analysis helps us understand the opportunities and threats we could impose on other organizations.
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Question 13 of 164
13. Question
The primary difference between transactional vs. strategic mindset is the transactional mindset takes twice as long.
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Question 14 of 164
14. Question
Procurement specialists are also commonly referred to as vendors.
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Question 15 of 164
15. Question
Most salespeople have a monthly quota that drives their short-run activities.
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Question 16 of 164
16. Question
The Strategic Partnering Leader role is focused on initiatives that are commonly outside of a company’s normal scope and mode of operations?
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Question 17 of 164
17. Question
The partnering mindset utilizes the collaborative partnering approach.
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Question 18 of 164
18. Question
Collaborative Partnering includes the multiplier effect, differentiation, and exponential growth.
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Question 19 of 164
19. Question
The “transactional mindset” is most similar to the differentiation approach.
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Question 20 of 164
20. Question
Master Services Agreements are focused on addressing as many terms, conditions, and penalties as possible that will govern a relationship between a company and a vendor.
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Question 21 of 164
21. Question
The intended purpose of a Master Service Agreement (MSA) is to outline the price of goods purchased by a vendor.
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Question 22 of 164
22. Question
Master Services Agreements (MSA) are so important to partnerships because they spell out a wide range of terms, conditions, and penalties that govern relationships between a company and a vendor.
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Question 23 of 164
23. Question
A key element of a Strategic Partnering Agreement is to be flexible as the parties know that the relationship will evolve over time.
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Question 24 of 164
24. Question
Complete contracts can be defined as contracts between organizations do not contemplate all possible outcomes.
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Question 25 of 164
25. Question
According to Bernie Brenner, the author of The Sumo Advantage, the first of the three priorities of Business Development is profits.
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Question 26 of 164
26. Question
Technology partnerships are NOT one of the five types of partnerships?
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Question 27 of 164
27. Question
Alliance partnerships are one of the five types of partnerships?
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Question 28 of 164
28. Question
An alliance partnership is also known as a/an affiliate partnership?
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Question 29 of 164
29. Question
A referral partnership is also known as a strategic partnership.
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Question 30 of 164
30. Question
Traditional business “networking” relationships that typically have low obligations are referred to as Alliance partnerships.
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Question 31 of 164
31. Question
Partnerships involving “finders fees” are examples of referral partnerships.
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Question 32 of 164
32. Question
Partnerships in which the partner originates and implements at least part of the solution are called integration partnerships.
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Question 33 of 164
33. Question
Technology partnership is otherwise known as integrated partnerships.
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Question 34 of 164
34. Question
McDonalds and Coke are an example of a channel partnership.
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Question 35 of 164
35. Question
Resource partnerships are also known as Alliance partnerships.
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Question 36 of 164
36. Question
When “Growth Engine” strategies result in exponential growth, the organization achieves a competitive advantage.
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Question 37 of 164
37. Question
A Bargaining Matrix analyzes examines strengths, weaknesses, opportunities and threats.
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Question 38 of 164
38. Question
No Cross Pollination is a “con / negative” with respect to the organic growth approach.
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Question 39 of 164
39. Question
“Exponential” growth is dependent on Real Estate.
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Question 40 of 164
40. Question
A SWOT analysis could be compared to a CAT scan for a company.
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Question 41 of 164
41. Question
“It is always better to have NO DEAL than a bad deal.”
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Question 42 of 164
42. Question
Clayton Christensen helped advance the Theory of Constraints to highlight a “solutions oriented approach” for developing new solutions.
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Question 43 of 164
43. Question
Borders partnered with Amazon to become the world’s largest provider of podcasts.
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Question 44 of 164
44. Question
The functional & strategic quadrants of the “quadrants of solutions” have the highest level of growth opportunity (profit margins).
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Question 45 of 164
45. Question
Moore’s Law can best be described as all things equal, the idea with the most momentum will achieve the greater good.
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Question 46 of 164
46. Question
Professionals that are able to master the first four imperatives of the Partnership Success Pyramid, will maximize their opportunities to achieve significant results.
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Question 47 of 164
47. Question
Professionals engage in partnerships as an alternative to growing organically.
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Question 48 of 164
48. Question
The Partnership Success Pyramid claims that “transparency” means in-person communications between partners.
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Question 49 of 164
49. Question
The trust level of the success pyramid means “commitment and loyalty?”
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Question 50 of 164
50. Question
Of the 6 SPLM Elements, Vision is most focused on aligning company cultures.
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Question 51 of 164
51. Question
The teams element includes claims, statements, and beliefs that should be the DNA of every person, team, and decision that make up your organization.
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Question 52 of 164
52. Question
Jim Collins and Jerry Porras co-authored the book ‘Winning it All’ that is focused on company vision.
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Question 53 of 164
53. Question
A company’s mission should appeal to the emotions and inspire action and compel people to want to support your purpose.
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Question 54 of 164
54. Question
A company’s “vision” is also referred to as its short term strategy.
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Question 55 of 164
55. Question
A company’s “mission” should have a time horizon of 2-3 years.
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Question 56 of 164
56. Question
According to a 2018 Gallup poll 85% of employees “hate” their jobs.
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Question 57 of 164
57. Question
A company’s vision should be used to attract new employees, executives, and customers.
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Question 58 of 164
58. Question
Simon Sinek’s book Start With Why claims people are motivated and inspired by emotions which is controlled by the “limbic brain.”
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Question 59 of 164
59. Question
An organization’s core values is its “short-term purpose” and it is designed to drive day-to-day behavior.
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Question 60 of 164
60. Question
An organization’s mission should be both a(n) aspirational and attainable goal.
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Question 61 of 164
61. Question
Vision statements are the central principles that we live by; they are our beliefs that are demonstrated through our decisions and actions.
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Question 62 of 164
62. Question
Peter Drucker the management thought leader said, “Culture eats strategy for breakfast?”
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Question 63 of 164
63. Question
PARTNERNOMICS teaches Salim Ismail’s four question approach to help create an organization’s Massive Transformative Purpose (MTP). This is known as the founder’s approach.
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Question 64 of 164
64. Question
Ideally, organizations will set their “core values” when the company is founded.
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Question 65 of 164
65. Question
It is ideal to set an organization’s core values when it is founded to create a culture around the values and make all coming decisions through the lens of the value.
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Question 66 of 164
66. Question
The success or failure of your partnerships are MOST heavily dependent upon contractual terms.
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Question 67 of 164
67. Question
The two PDL teaming approaches shared in PARTNERNOMICS are hunter/farmer and Sumo.
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Question 68 of 164
68. Question
People who have high emotional intelligence are able to sense when “something is wrong” because they are tuned into the behavior of others.
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Question 69 of 164
69. Question
TKI and DISC are examples of tools that are best used to help you within the processes element.
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Question 70 of 164
70. Question
PARTNERNOMICS recommend that executives budget at least 50% of a PDL’s annual salary for “supplemental resources.”
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Question 71 of 164
71. Question
“Fractional PDLs” must have at least 1 day of their week dedicated to the partnering function or it will likely be unsuccessful.
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Question 72 of 164
72. Question
According to the DISC framework, people who are “outgoing” or “extroverted” get ideas from others, where as “introverted” people need time alone to decompress.
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Question 73 of 164
73. Question
According to the DISC framework, people’s work is either task or people oriented.
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Question 74 of 164
74. Question
According to the DISC framework, committed is NOT one of the four primary behaviors.
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Question 75 of 164
75. Question
According to the DISC framework, ‘high D‘ is likely to be the optimal behavior during an emergency.
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Question 76 of 164
76. Question
A person’s core values tend to shift yearly over time.
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Question 77 of 164
77. Question
When “natural alignment” is achieved between people, conflict tends to reduce.
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Question 78 of 164
78. Question
Truly “strategic partnerships” always include an innovative initiative; therefore, profits are virtually inevitable.
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Question 79 of 164
79. Question
One of the goals of the Thomas-Kilmann Instrument (TKI) is to make people become more aware of their financial interests when engaged in conflict.
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Question 80 of 164
80. Question
Highly skilled professionals can use the Thomas-Kilmann Instrument (TKI) to help them adapt their behaviors so they can more quickly resolve conflict.
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Question 81 of 164
81. Question
According to the Thomas-Kilmann Instrument (TKI) framework, the best way to influence others is to adjust your behavior mode to a(n) competing style in order to ultimately resolve a conflict.
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Question 82 of 164
82. Question
According to the Thomas-Kilmann Instrument (TKI) framework, behavior modes that score above 75% or below 25% are considered to be accommodating.
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Question 83 of 164
83. Question
A collaborating conflict mode from the Thomas-Kilmann Instrument (TKI) is considered a “problem solver“
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Question 84 of 164
84. Question
The compromising Thomas-Kilmann Instrument (TKI) “conflict mode” is the most concerned with “others.”
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Question 85 of 164
85. Question
The competing Thomas-Kilmann Instrument (TKI) “conflict mode” is the most assertive.”
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Question 86 of 164
86. Question
The “S” in “S.M.A.R.T. goals” stands for specific.
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Question 87 of 164
87. Question
The “M” in “S.M.A.R.T. goals” stands for momentum.
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Question 88 of 164
88. Question
The “T” in “S.M.A.R.T. goals” stands for tested.
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Question 89 of 164
89. Question
A strategic partnering team’s goals should be aligned to the organization’s goals.
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Question 90 of 164
90. Question
Another name for the “bottoms-up” approach to setting and managing goals is OKR.
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Question 91 of 164
91. Question
Measure What Matters is John Doerr’s book that offers a good guide on implementing the OKR framework.
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Question 92 of 164
92. Question
OKRs are designed to be 30 day sprints to a desired objective.
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Question 93 of 164
93. Question
When goal setting follows the traditional “top down” approach, many employees see the imposed goals as their executives’ goals.
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Question 94 of 164
94. Question
A key goal setting success practice tells us to not set more than 7 goals for a particular subject (person, partner, etc.).
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Question 95 of 164
95. Question
When setting goals, you should set no more than 3 at a time because the human brain can organize 3 goals, but focus is quickly diluted past 3.
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Question 96 of 164
96. Question
Chris McChesney, author of The 4 Disciplines of Execution states all goals should have a 1) starting line, 2) finish line, and 3) stretch line.
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Question 97 of 164
97. Question
Chris McChesney, author of The 4 Disciplines of Execution states that all goals should have a starting line, a finish line, and a deadline. This is because having a set deadline ensures that the goal will be time-bound.
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Question 98 of 164
98. Question
With respect to operationalizing a B2B partnership, the acronym KPI stands for known partner information.
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Question 99 of 164
99. Question
Lagging indicators are performance metrics that represent outcomes.
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Question 100 of 164
100. Question
Strategic indicators are used as a means to predict or forecast a particular result.
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Question 101 of 164
101. Question
Step #1 in selecting performance metrics to help govern a partnership is to determine your annual budget.
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Question 102 of 164
102. Question
When selecting metrics to help manage B2B partnerships you should continually evaluate and if need change the metrics.
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Question 103 of 164
103. Question
The results element of the SPLM framework focuses on organization and efficiency.
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Question 104 of 164
104. Question
Partnering processes consist of core processes, secondary processes, and procedures.
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Question 105 of 164
105. Question
After your processes are identified and documented, the next logical step for leadership to ensure success is to enforce their use.
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Question 106 of 164
106. Question
An ideal software tool for managing B2B partnerships is a customer relationship management platform.
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Question 107 of 164
107. Question
In the 2010’s, PRMs were mostly used by large companies because they were quite expensive and it was easier to prove their value in large companies.
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Question 108 of 164
108. Question
Studies have shown that PRM systems are likely to result in an increase in channel revenue and partner engagement.
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Question 109 of 164
109. Question
Magentrix, Zift, and Allbound are all examples of PRMs
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Question 110 of 164
110. Question
Affiliate or Co-Marketing are other names for alliance partnerships.
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Question 111 of 164
111. Question
Partner information, marketing, and external messaging are core components of a PRM?
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Question 112 of 164
112. Question
Indirect and Systems Integrators (SI) are other names for referral partnerships?
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Question 113 of 164
113. Question
In Trust Factor, Dr. Paul Zak describes a great team culture as having financial incentives for high performance.
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Question 114 of 164
114. Question
According to Dr. Paul Zak, having a great company culture must include religion & diversity.
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Question 115 of 164
115. Question
Gallup stated only 13% of employees were engaged in their work. The reaon(s) cited were there isn’t enough trust and purpose in these organizations.
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Question 116 of 164
116. Question
Some success principles for having productive meetings include meeting weekly, same day/time, and having a standard agenda.
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Question 117 of 164
117. Question
The Business Growth Flowchart claims after we say “yes” to growing our organization, we next need to decide if we are commiting to “incremental” or exponential level of growth.
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Question 118 of 164
118. Question
All “exponential growth strategies” include a(n) patent that may lead to a competitive advantage.
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Question 119 of 164
119. Question
Joint venture is NOT an avenue for growth covered in the PARTNERNOMICS curriculum.
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Question 120 of 164
120. Question
Phase 1 of the 5 Phased Partnering Process is finding a partner.
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Question 121 of 164
121. Question
The Strategic Partnering Plan (SPP) ensures internal alignment of resources and intent.
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Question 122 of 164
122. Question
A Strategic Partnering Plan (SPP) is specific to a(n) partnering initiative.
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Question 123 of 164
123. Question
The middle portion of a Strategic Partnering Plan (SPP) is focused on the constraints model.
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Question 124 of 164
124. Question
The Strategic Partnering Plan (SPP) has 9 components.
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Question 125 of 164
125. Question
Open-ended question types are designed to have your counterpart elaborate.
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Question 126 of 164
126. Question
You should utilize Open-ended questions with a Partner because you want a quick and definitive answer.
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Question 127 of 164
127. Question
The ideal time period to send out a meeting agenda prior to a meeting is 2 days.
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Question 128 of 164
128. Question
As the parties learn more about each other’s interests the questions will become more specific.
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Question 129 of 164
129. Question
The Bargaining Matrix tool is designed to help you evaluate “must haves” and “nice to haves” when preparing to negotiate terms?
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Question 130 of 164
130. Question
The Strategic Partner Plan is recommended to be used to efficiently facilitate each “Phase 2” meeting.
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Question 131 of 164
131. Question
The Partner Preparation Sheet is such an important and useful tool because it’s the most efficient tool to facilitate each meeting.
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Question 132 of 164
132. Question
Your Term Sheet will eventually be used to inform your Strategic Partnering Plan.
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Question 133 of 164
133. Question
Scribe is NOT one of the “hats” that you wear as a negotiator.
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Question 134 of 164
134. Question
A conditional offer is making an offer that places your condition as a prerequisite to your offer of value.
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Question 135 of 164
135. Question
When conducting a virtual/distance meeting with others, you should insist on voice-only phone call as your form of engagement.
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Question 136 of 164
136. Question
A perpetual NDA is a type of a Non-Disclosure Agreement (NDA); also known as a 2-way NDA.
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Question 137 of 164
137. Question
In a circumstance where both parties wish to share sensitive information it would make sense to utilize the Mutual Non-Disclosure Agreement.
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Question 138 of 164
138. Question
An assignment can be defined as the transfer of property, interest, or rights held by one party to another party.
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Question 139 of 164
139. Question
A warranty can be defined as a failure to perform a promise which is anticipated, expected, or required in an agreement – without legal excuse. In short, a failure to live up to a duty of care.
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Question 140 of 164
140. Question
Confidentiality can be defined as a clause that outlines highly sensitive material, knowledge, or information that the parties wish to share with one another for certain purposes, but wish to restrict access to or by third parties.
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Question 141 of 164
141. Question
Dispute resolution can be defined as a process that allows the parties to a contract to have any disagreements or conflicts arising under the contract be addressed by invoking a predefined procedure.
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Question 142 of 164
142. Question
Dissolution is the process by which a contract or partnership is ended by the parties themselves and the responsibilities and the level of ownership of assets each party maintains after the termination.
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Question 143 of 164
143. Question
Liquidated damages can be defined as the right to perform an action or acquire a benefit and to deny all others the right to perform the same action or to acquire the same benefit.
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Question 144 of 164
144. Question
Governing law can be defined as the system of law, which forms the deciding principles for the factual situation giving rise to a dispute. In contracts, the term refers to a clause also known as a “choice of law” provision in which the parties agree that a particular jurisdiction (i.e. a state or country) laws will be used to interpret their agreement.
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Question 145 of 164
145. Question
A Non-compete is a collateral agreement in which one party assures the other party that he/she will perform the promise or fulfill the obligation of a third party, if that third party fails to do so.
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Question 146 of 164
146. Question
Indemnification can be defined as one party promising to compensate the loss incurred by the other party, due to the act(s) of the other party. This provision can be either unilateral or mutual.
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Question 147 of 164
147. Question
Injunctive relief is an equitable remedy in the form of a court order that compels a party to do or refrain from specific acts. A party that fails to comply with such as order faces criminal or civil penalties, including possible monetary sanctions and even imprisonment.
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Question 148 of 164
148. Question
Termination for convenience is a restriction on the amount of compensation that can be recovered from a third party due to an action or inaction. This can be a clause in a contract or statutory.
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Question 149 of 164
149. Question
Liquidated damages is the sum of financial compensation that a party agrees to pay if they breach the contract by failing to perform some promise. The sum is considered equitable compensation to cover a good faith estimate of a loss due to a breach.
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Question 150 of 164
150. Question
A non-compete also known as a “restrictive covenant,” this clause restricts at least one of the parties from starting a similar profession or trade that is significantly similar to the products/solutions offered by the parties of this agreement.
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Question 151 of 164
151. Question
Injunctive relief creates a confidential relationship between parties to protect information such as trade secrets or other proprietary research, development, or commercial information.
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Question 152 of 164
152. Question
Non Solicitation can be defined as a freestanding agreement or a clause within a broader contract, a party’s promise to not recruit another party’s clients or customers, or to hire away their employees.
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Question 153 of 164
153. Question
In contracts, a statement of fact – express or implied – pertinent to the contract, made to induce the other party to enter into the contract is considered representation.
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Question 154 of 164
154. Question
Revenue sharing can be defined is in lieu of a traditional buy/sell relationship to offer products/services for sale through a supplier relationship, some organizations agree to engage in a financial relationship to divide their collective earnings.
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Question 155 of 164
155. Question
Severability is the right to meet the terms of a proposed contract before it is executed; i.e. the right to have an initial option to purchase or engage in an offer after it becomes available to others outside of this provision.
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Question 156 of 164
156. Question
A service level agreement is a contract between a service provider and a client that defines the expected outcomes. Particular aspects of the relationship could include – e.g. quality, availability, and other responsibilities that are agreed upon.
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Question 157 of 164
157. Question
A termination for cause is an equitable defense to all or part of a claim. It can also be the right of a debtor to balance mutual debts with a creditor. To determine this “reconciliation,” simply subtract the smaller debt from the larger.
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Question 158 of 164
158. Question
Severability is a clause in a contract that allows the remainder of a contract to apply even if other provisions are found to be illegal or otherwise unenforceable by a court.
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Question 159 of 164
159. Question
Survivability is a clause that specifies which contract provisions will remain in effect after the termination or expiration of the agreement. Common obligations covered by these clauses include Confidentiality and Non-compete.
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Question 160 of 164
160. Question
In a contract, exclusivity refers to the circumstances under which a party has a right to end the contractual relationship prior to its anticipated term.
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Question 161 of 164
161. Question
Injunctive relief is a provision that entitles a party to a contract to terminate it at any time without any liability for damages the other party might suffer as a result of the termination.
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Question 162 of 164
162. Question
Waiver of Jury Trial is a contract clause specifies that the parties agree to have any dispute resulting in civil litigation be resolved by a “bench trial” in which the judge will be the finder of fact.
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Question 163 of 164
163. Question
Warranties are a guarantee or promise which provides assurance by one party to the other party that specific facts or conditions are true or will happen. These may be express or implied, depending on several factors.
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Question 164 of 164
164. Question
A partner would want a warranty because it allows you to terminate the agreement.
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