ITIL Question #330: Real Exam Question with Answer & Explanation

The correct answer is D: All of the above. IT service contracts standardly include financial terms, a description of what is being delivered, and defined responsibilities for both parties.

Question

Which of the following is commonly found in a contract underpinning an IT service?Financial arrangements related to the contract Description of the goods or service provided Responsibilities and dependencies for both parties

Options

A1 and 2 only
B1 and 3 only
C2 and 3 only
DAll of the above

Explanation

IT service contracts standardly include financial terms, a description of what is being delivered, and defined responsibilities for both parties.

Common mistakes.

A. This excludes responsibilities and dependencies, which are a critical contractual element that defines obligations and accountabilities for both parties.
B. This excludes the description of goods or services, which is a core component that defines exactly what the provider is contracted to deliver.
C. This excludes financial arrangements, which are an essential element governing payment terms, penalties, and cost structures.

Concept tested. Components of an IT service contract

Reference. https://www.axelos.com/certifications/itil-service-management

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