A Bank Guarantee That Is Requested by a Beneficiary to Ensure

question 2

Multiple Choice

A bank guarantee that is requested by a beneficiary to ensure that the contractor is bidding in good faith and will enter the contract if awarded is called a(n)

• A) tender guarantee or bid guarantee.
• B) performance guarantee.
• C) maintenance guarantee.
• D) advance payment guarantee or repayment guarantee.
• E) None of the above

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Definitions:

Analytical Comparisons

The examination and evaluation of differences and relationships between data groups through statistical methods.

Null Hypothesis

A statistical hypothesis that assumes no significant difference or effect exists within the data set being analyzed.

Familywise Error

Probability of making at least one Type I error across a set of comparisons.

Type I Errors

Mistakes made by falsely rejecting the null hypothesis when it is in fact true; also known as false positives.