TEST L4M3 CENTRES | L4M3 UPDATED DEMO

Test L4M3 Centres | L4M3 Updated Demo

Test L4M3 Centres | L4M3 Updated Demo

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CIPS L4M3 Certification is particularly relevant for professionals who are involved in negotiating and managing contracts with suppliers, contractors, and other external parties. It provides them with the skills and knowledge required to effectively manage risks, negotiate favorable terms, and ensure compliance with legal and ethical standards. CIPS Commercial Contracting certification is also valuable for professionals who are looking to advance their careers in procurement and supply chain management.

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CIPS Commercial Contracting Sample Questions (Q19-Q24):

NEW QUESTION # 19
Which of the following is the term that describes an item bought for a single and non-recurring use or purpose?

  • A. Stock purchase
  • B. Ad-hoc purchase
  • C. Operational purchase
  • D. Call-off purchase

Answer: B

Explanation:
Ad-hoc purchase is the item bought for a single and non-recurring use or purpose.
A call-off contract, also known as a blanket order, is a purchase order which enables bulk orders over a period of time.
Operational procurement refers to the procurement of goods and services that are required to sustain an organization's day-to-day business operations.
Reference:
LO 1, AC 1.3


NEW QUESTION # 20
When a contract has been agreed on the basis of a fraudulent misrepresentation, which of the following remedies are available?

  • A. Rescission only
  • B. Damages only
  • C. An injunction only
  • D. Both damages and rescission

Answer: C

Explanation:
An untrue statement of fact or law made by Party A (or its agent) to Party B, which induces Party B to enter a contract with Party A thereby causing Party B loss. An action for misrepresentation can be brought in respect of a misrepresentation of fact or law.
There are three types of misrepresentation:
- Fraudulent misrepresentation: where a false representation has been made knowingly, or without belief in its truth, or recklessly as to its truth.
- Negligent misrepresentation: a representation made carelessly and in breach of duty owed by Party A to Party B to take reasonable care that the representation is accurate. If no "special relationship" exists, there may be a misrepresentation under section 2(1) of the Misrepresentation Act 1967 where a statement is made carelessly or without reasonable grounds for believing its truth.
- Innocent misrepresentation: a representation that is neither fraudulent nor negligent.
The remedies for misrepresentation are rescission and/or damages. For fraudulent and negligent misrepresentation, the claimant may claim rescission and damages. For innocent misrepresentation, the court has a discretion to award damages in lieu of rescission; the court cannot award both (see section 2(2) of the Misrepresentation Act 1967). For more information, see Practice note, Misrepresentation.
Reference:
- Misrepresentation
- CIPS study guide page 55
LO 1, AC 1.2


NEW QUESTION # 21
Which of the following are express terms?
Sale by description
Fitness for purpose
Passing of risk
Passing of title

  • A. 3 and 4 only
  • B. 2 and 3 only
  • C. 1 and 2 only
  • D. 2 and 4 only

Answer: A

Explanation:
Express terms are those specifically stated and agreed upon in the contract. "Passing of risk" and "Passing of title" are typically included explicitly in contract terms, especially in contracts involving the sale of goods. In contrast, "Sale by description" and "Fitness for purpose" are usually implied terms under the Sale of Goods Act 1979, unless expressly stated.
Reference:
CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.1.1 - Express and implied terms in contracts.


NEW QUESTION # 22
A procurement manager is setting KPIs measurement for user satisfaction. He also wants to encourage users to share the reason why they feel the way they do. Which of the following types of KPI should the procurement manager apply?

  • A. Qualitative assessment
  • B. Numerical measure
  • C. Binary measure
  • D. Quantitative measure

Answer: A

Explanation:
There are 3 types of KPI measure:
- Binary KPIs
- Quantitative KPIs (or numerical)
- Qualitative KPIs
User satisfaction is subjective, therefore, using qualitative assessment is the best answer.
Reference: CIPS study guide page 103,118
LO 2, AC 2.2


NEW QUESTION # 23
Tony Campbell, a West Logistics Ltd (WLL) procurement manager, is working on a specification for a data storage solution. The current version of an Information Security Management standard (ISO 27001) has been identified as a suitable standard for potential suppliers to be certified to. What is the advantage to WLL of stipulating this type of standard within a product specification?

  • A. It allows the buying organisation to set the pricing for its products
  • B. It ensures the suppliers control spending and pass the savings on
  • C. It removes the requirement for quality management measures
  • D. It allows all suppliers to understand the common criteria that is required

Answer: D

Explanation:
Referencing recognised international standards like ISO 27001 in specifications ensures that all potential suppliers understand and meet a uniform set of expectations regarding data security. This not only promotes consistency but also reduces the burden on the buyer to evaluate varied, incompatible approaches.
Reference:
CIPS L4M3 Commercial Contracting Study Guide, Chapter 2, Section 2.1.3 - Use of international and industry standards in specifications.


NEW QUESTION # 24
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