CIPS Exam L5M2 Topic 1 Question 34 Discussion

Actual exam question for CIPS's L5M2 exam

Question #: 34
Topic #: 1

[All L5M2 Questions]

Which of the following statements about FIDIC Contracts are true? Select TWO:

AThey are used in the construction industry

BThey are more collaborative than NEC contracts

CEach party manages their own risks separately

DEarly warning notices are given when risks arise

EChange control is called a 'Compensation Event'

Show Suggested Answer

Suggested Answer: D

The correct answers are as follows:

The consequences of this risk are huge, therefore the risk should be terminated. This means the cause of the risk is taken away (i.e. the animal testing).

by Virgie at Jun 03, 2024, 08:18 AM

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Elise

1 months ago

I feel like the FIDIC Contracts are a secret society or something. All these unique terms and procedures - it's like they have their own language. But hey, at least they're trying to keep things interesting in the construction world!

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Ernie

1 months ago

Ah, the age-old FIDIC vs. NEC debate. I'm just going to go with 'more collaborative' and hope for the best. As long as I don't have to worry about any 'Compensation Events' or early warning notices, I think I'll be alright.

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Bernardine

1 months ago

Hmm, managing risks separately? That sounds a bit outdated. I thought the whole point of FIDIC was to foster more collaboration between the parties. Maybe I'm missing something here.

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Caprice

3 days ago

Yes, FIDIC contracts are commonly used in construction projects and they do require early warning notices to be given when risks arise.

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Mariann

4 days ago

D) Early warning notices are given when risks arise

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Tracey

7 days ago

Hmm, managing risks separately? That sounds a bit outdated. I thought the whole point of FIDIC was to foster more collaboration between the parties. Maybe I'm missing something here.

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Marsha

11 days ago

A) They are used in the construction industry

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Ressie

14 days ago

D) Early warning notices are given when risks arise

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Antione

18 days ago

A) They are used in the construction industry

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Owen

2 months ago

Interesting that 'Early warning notices' are given when risks arise. That could really help project teams get ahead of potential issues. And 'Compensation Event' for change control - that's a clever way to handle it.

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Maybelle

17 days ago

D) Early warning notices are given when risks arise

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Lashaunda

19 days ago

A) They are used in the construction industry

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Marlon

2 months ago

FIDIC Contracts are definitely used in the construction industry, that's a no-brainer. But I'm not sure about the collaboration aspect compared to NEC contracts. Guess I'll have to do some more research on that one.

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