ONLINE L4M3 VERSION, EXAM L4M3 SCORE

Online L4M3 Version, Exam L4M3 Score

Online L4M3 Version, Exam L4M3 Score

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CIPS L4M3 (CIPS Commercial Contracting) Exam covers a wide range of topics related to commercial contracting. This includes contract management, negotiation techniques, risk management, contract law, procurement strategy, and supplier selection and evaluation. Candidates who are interested in taking L4M3 Exam must have a good understanding of these topics and be able to apply them in a real-world setting. L4M3 exam consists of multiple-choice questions and case studies, and candidates must pass the exam to obtain the professional diploma.

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Exam L4M3 Score - Certification L4M3 Questions

The questions of our L4M3 guide questions are related to the latest and basic knowledge. What’s more, our L4M3 learning materials are committed to grasp the most knowledgeable points with the fewest problems. So 20-30 hours of study is enough for you to deal with the exam. When you get a L4M3 certificate, you will be more competitive than others, so you can get a promotion and your wages will also rise your future will be controlled by yourselves.

CIPS Commercial Contracting Sample Questions (Q147-Q152):

NEW QUESTION # 147
Social and environmental criteria are often incorporated into which of the following type of specification?

  • A. Design specification
  • B. Output specification
  • C. Technical specification
  • D. Conformance specification

Answer: B

Explanation:
Developing and using generic specifications is as import in the sustainable procurement process as it is in the traditional procurement process. During this stage, human/labour rights and environmental performance criteria should be translated into specifications that meet specific requirements of the specified outcome, desired by the procurement action.
The specification stage is key to all types of contract. Building in environmental and social considerations at this early stage, provides a clear indication to suppliers that sustainability is important to the UN organization. Consider available alternatives which are less environmentally and socially damaging. Consider all the phases of a product's life cycle (e.g. production, transportation, maintenance, disposal, etc) when determining its cost and environmental impact. Assess the overall environmental and social integrity of suppliers by looking at their policies and practices.
Specifications which are output-based rather than input-based can increase supplier innovation, reduce waste and minimise harmful social and environmental impacts.
Reference:
- Sustainable Procurement
- CIPS study guide page 95-99
LO 2, AC 2.1


NEW QUESTION # 148
Company A sends a purchase order complete with a set of conditions of contract for the provision of professional services to Company B. Company B responds with an invoice complete with a set of its own conditions of contract. Company A pays the invoice. Whichconditions of contract take legal precedence?

  • A. Neither Company A's nor Company B's
  • B. Both Company A's and Company B's
  • C. Company A's
  • D. Company B's

Answer: D

Explanation:
This scenario illustrates the "battle of the forms," where each party attempts to impose its own terms. The general legal principle is that the last set of terms sent before performance (in this case, Company B's invoice) takes precedence if the other party proceeds without objection (Company A's payment). Therefore, Company B's terms would likely govern the contract.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 1, Section 1.2.3 - Principles relating to the battle of the forms and precedence of contract terms.


NEW QUESTION # 149
Which of the following should be specially noticed in market dialogue with suppliers in specification development?

  • A. Market dialogue is banned in the public sector
  • B. Market dialogue should only be conducted with well-known supplier
  • C. The buying organisation must avoid social media at all cost
  • D. Both parties must respect confidentiality

Answer: D

Explanation:
Being clear on your objectives helps you to design the best approach to the dialogue. There are some notices in developing dialogue with suppliers:
- All meetings should be documented
- Respect commercial confidentiality. Although insights gained from one conversation lead to questions in another, you must be very careful not to allow this to happen in a way that breaches the confidentiality of the first conversation.
Reference: CIPS study guide page 84-85
LO 2, AC 2.1


NEW QUESTION # 150
Which of the following statement is true about one-off contract?

  • A. One-off contracts only apply to low-value, low-risk purchase
  • B. One-off contracts can be used for services and works
  • C. Ad-hoc purchase is not a type of one-off purchase
  • D. Suppliers have many opportunities to improve the quality during the performance of one-off contract

Answer: B

Explanation:
One-off contract is the type of contract that relates to a single purchase. One-off contracts can be used for goods, services or works. One-off contract can be simple (such as buying a small number of office stationeries) or complex (such as a construction project or buying an aircraft).
A one-off contract lasts "until completion of the obligations of the parties". The performance is unlikely to be improved during contract performance since the duration is relatively shorter than framework agreement or call-off contract.
Ad-hoc purchase is an item bought for a single and non-recurring use or purpose. Ad-hoc purchase is a type of one-off contract.
Reference:
LO 1, AC 1.3


NEW QUESTION # 151
Which of the following statements is FALSE on contracts for the leasing of assets?

  • A. The lessee may bear some risks of ownership, such as the liability to insure the asset
  • B. In lease agreement, the possession and right of use of an asset are transferred to the lessee
  • C. The ownership of leased asset is transferred to the lessee at the end of the period
  • D. The party responsible for maintenance, insurance and taxes is subject to negotiation

Answer: C

Explanation:
A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Some characteristics of Leases are:
- The right to use the lessor's asset is granted in exchange for a fee called the lease payment.
- The lease payments are usually paid in installments.
- Leases may be long- or short-term.
- At its inception a lease agreement constitutes a mutually unperformed contract Though the ownership of the asset is not transferred to the lessee, some responsibilities and risks do. The lessor and lessee may negotiate on who is responsible on maintenance, insurance, etc.
Reference:
LO 1, AC 1.3


NEW QUESTION # 152
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