Materiality in representations — how is it quantified (e.g., by a USD amount)?
Frequency/market practice: Fairly common; materiality qualifiers are commonly seen but are not often quantified (other than specific warranties, e.g., contract value).
How is knowledge qualified (e.g., specific people, actual/constructive knowledge)?
Frequency/market practice: Knowledge qualifiers are usually based on constructive knowledge (after due inquiry), although actual knowledge standard is also used. They are commonly limited to a list of specified persons or groups of persons (selling shareholders and key managers and directors).