Woolpert Risk Awareness Program - Module 1

26 Questions | Attempts: 71
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  • 1/26 Questions

    Developing a contract and a well defined scope gives us a chance to help the client set reasonable:

    • Indemnification provisions
    • Schedules
    • Expectations
    • Insurance requirements
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About This Quiz

This quiz covers the material from Module 1. You MUST submit your name (First Name Last Name) so as to receive credit for your score.

Module Quizzes & Trivia

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  • 2. 

    True or false? Many claims can be traced back to a communication failure between the client and the consultant.

    • True

    • False

    Correct Answer
    A. True
  • 3. 

    True of false? The State in which a project is located can be a source of risk.

    • True

    • False

    Correct Answer
    A. True
  • 4. 

    True or false? The failure to refine expectations during the course of a project can create the possibility of a gap between the client’s expectations and the end results thereby increasing the chance of a claim.

    • True

    • False

    Correct Answer
    A. True
  • 5. 

    True or false? Insurance is a silver bullet for managing risk.

    • True

    • False

    Correct Answer
    A. False
  • 6. 

    True or false? Over 50 percent of claims made against Woolpert result in litigation.

    • True

    • False

    Correct Answer
    A. False
  • 7. 

    What is the best way to document a client’s expectations?

    • Phone call

    • Contract

    • Email

    • Handshake

    Correct Answer
    A. Contract
  • 8. 

    True or false? Risk is simply defined as the chance of an unwanted or adverse result.

    • True

    • False

    Correct Answer
    A. True
  • 9. 

    True or false? Woolpert is licensed to provide professional services in every state.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    Woolpert is not licensed to practice professional services in every state. Please check with the legal department to confirm registrations.

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  • 10. 

    True or false? The goal of the program is to help Woolpert staff understand and eliminate all risks involved with a project.

    • True

    • False

    Correct Answer
    A. False
  • 11. 

    The general categories for managing risk include avoiding the risk, assuming the risk but trying to mitigate it, and

    • Passing on a project

    • Utilizing a strong project manager

    • Using a life line

    • Transferring the risk

    Correct Answer
    A. Transferring the risk
  • 12. 

    True or false? In analyzing the risk, Woolpert is more interested in the merely possible than the probable.

    • True

    • False

    Correct Answer
    A. False
  • 13. 

    True or false? There can be two sides to risk.

    • True

    • False

    Correct Answer
    A. True
  • 14. 

    True or false? A limit of liability provision is one way to transfer risk via contract.

    • True

    • False

    Correct Answer
    A. True
  • 15. 

    True or false? WRAP stands for the Woolpert Risk Assessment Program.

    • True

    • False

    Correct Answer
    A. False
  • 16. 

    Risk Management involves a three step process that includes:

    • Analysis and resolution

    • Analysis and continued implementation

    • Initial action and resolution

    • Assumptions and continued implementation

    Correct Answer
    A. Analysis and continued implementation
  • 17. 

    True or false? The principle of N.I.M.B.Y. has impacted Woolpert.

    • True

    • False

    Correct Answer
    A. True
  • 18. 

    True or false? Avoiding a problem once it arises is the best way to minimize the probability of an unwanted result.

    • True

    • False

    Correct Answer
    A. False
  • 19. 

    More than just identifying the sources of risk, assessing their probability, and developing an initial action are needed to manage risk. In addition, you need:

    • Identification of sources of risk

    • A contract signed by both parties

    • A certification by the project manager that the services were completed in accordance with the contractual standard of care

    • Continued implementation and development of risk management strategies

    Correct Answer
    A. Continued implementation and development of risk management strategies
  • 20. 

    True or false? The consultant should avoid risk for situations in which more than one party is to be responsible.

    • True

    • False

    Correct Answer
    A. True
  • 21. 

    As a project progresses, it is typically necessary that what must be refined is:

    • Indemnification provisions

    • Schedules

    • Expectations

    • Insurance requirements

    Correct Answer
    A. Expectations
  • 22. 

    True or false? The following is an example of an indemnification provision acceptable to Woolpert: Woolpert agrees to indemnify and hold the client harmless from damages, costs, and liabilities arising from the acts of Woolpert.

    • True

    • False

    Correct Answer
    A. False
  • 23. 

    Client associated risks include Client's: I. Public or private status, II. Experience with similar projects, III. Litigation history, and/or IV. Financial strength. Choose an answer from the following options:

    • I and II

    • II and IV

    • II, III, and IV

    • All of the above

    Correct Answer
    A. All of the above
  • 24. 

    True or false? By including a limit of liability provision in a contract, a consultant caps the consultant’s liability to any party who may bring a claim against the consultant.

    • True

    • False

    Correct Answer
    A. False
  • 25. 

    True or false? Woolpert tries to manage every risk but is not able.

    • True

    • False

    Correct Answer
    A. False
  • 26. 

    With respect to Woolpert, more than 50 percent of claims have been made by:

    • Clients

    • Third Parties

    • Subconsultants

    Correct Answer
    A. Third Parties

Quiz Review Timeline (Updated): Mar 19, 2022 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 19, 2022
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 03, 2008
    Quiz Created by
    Woolpert
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