Woolpert Risk Awareness Program - Module 3

24 Questions | By Woolpert | Last updated: Mar 20, 2022 | Total Attempts: 73

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This quiz covers the material from Module 3. You MUST submit your name (First Name Last Name) so as to receive credit for your score.

Questions and Answers

1.

Not having a contract or having a bad contract can cost Woolpert money in: I. Defense costs, II. Inability to bill for additional services, and/or III. Not being able to prevent scope creep. Choose an answer from the following options:
- A.
  
  II
- B.
  
  I and III
- C.
  
  II and III
- D.
  
  All of the above
2.

True or false? You don’t need a contract to have contract liability.
- A.
  
  True
- B.
  
  False
3.

True or false? The term warranty and guarantee are often used interchangeably.
- A.
  
  True
- B.
  
  False
4.

True or false? Professional liability insurance covers warranties made by the consultant.
- A.
  
  True
- B.
  
  False
5.

The legal elements of a contract are:
- A.
  
  Mutual assent and consideration
- B.
  
  Mutual assent, consideration, and no legal defenses
- C.
  
  A signed writing defining mutual assent and consideration
- D.
  
  A signed writing containing a scope of services, schedule, and fee
6.

If party A verbally agrees with party B for party B to cut party A’s grass for $25, the parties have entered into:
- A.
  
  An express contract
- B.
  
  A written contract
- C.
  
  An implied contract
- D.
  
  A joint contract
7.

Woolpert prefers not to use letter agreements because:
- A.
  
  They tend to be more conversational and don’t cover all relevant issues
- B.
  
  They are not legal contracts
- C.
  
  The statute of limitations begins after the letter is signed
- D.
  
  They are not insurable
8.

True or false? A purchase order is a contract.
- A.
  
  True
- B.
  
  False
9.

True or false? Woolpert will not work under a purchase order.
- A.
  
  True
- B.
  
  False
10.

True or false? The Woolpert standard contracts are located on the legal intranet.
- A.
  
  True
- B.
  
  False
11.

The Woolpert short form agreement can be used for project fees less than:
- A.
  
  $75,000
- B.
  
  $25,000
- C.
  
  $50,000
- D.
  
  $10,000
12.

True or false? As long as an individual has contract signing authority, they can sign a contract for another service line provided the value is within their dollar limits.
- A.
  
  True
- B.
  
  False
13.

True or false? Legal typically requires 5 to 7 days to turn around contract review comments.
- A.
  
  True
- B.
  
  False
14.

True or false? In-House Counsel has authority to negotiate and sign contracts on behalf of the company.
- A.
  
  True
- B.
  
  False
15.

What are the minimum contract requirements for accounting to avoid a zero fee project set up: I. Scope, II. Choice of law, III. Schedule, IV. Compensation, and/or V. Limit of liability. Choose an answer from the following options:
- A.
  
  I
- B.
  
  II and IV
- C.
  
  I, II, and IV
- D.
  
  I, III, and IV
- E.
  
  I, II, III, IV, and V
16.

True or false? Woolpert’s professional liability insurance permits Woolpert to indemnify, defend, and hold a client harmless from claims and damages to the extent caused by the negligent acts of Woolpert.
- A.
  
  True
- B.
  
  False
17.

True or false? Woolpert’s deliverables are considered products for which there is a copyright interest.
- A.
  
  True
- B.
  
  False
18.

True or false? With respect to Federal Government contracting, addendums to the contract will be enforceable provided the Technical Representative for the Government has signed the addendum.
- A.
  
  True
- B.
  
  False
19.

True of false? Woolpert understands that collections can be a long process; therefore, when Woolpert is in the role of subconsultant, Woolpert does not object to making payment contingent upon receipt of payment from the client to the prime consultant.
- A.
  
  True
- B.
  
  False
20.

With respect to professional liability claims, Woolpert can agree to which of the following requirements in an indemnification provision: I. Defense obligation, II. Indemnification for settlements, III. Indemnification of client’s agents, IV. Indemnification for the acts or omissions of Woolpert, and/or V. Indemnification for allegations of negligence. Choose an answer from the following options:
- A.
  
  I, II, and III
- B.
  
  I, IV, and V
- C.
  
  IV
- D.
  
  IV and V
- E.
  
  None of the above.
21.

True or false? Contracts can be either express or implied?
- A.
  
  True
- B.
  
  False
22.

True or false? Woolpert can agree to provide its commercial general liability insurance on a primary and non-contributing basis, but only with respect to Woolpert’s operations.
- A.
  
  True
- B.
  
  False
23.

True of false? Woolpert can agree to provide additional insured status but only on its commercial general liability policy.
- A.
  
  True
- B.
  
  False
24.

True of false? A time is of the essence provision only applies to the deliverable dates.
- A.
  
  True
- B.
  
  False