Valid L4M3 Mock Test & L4M3 Questions

DOWNLOAD the newest RealValidExam L4M3 PDF dumps from Cloud Storage for free: https://drive.google.com/open?id=117YEk13TgLIugHcixq9AWJYz3syI3V6m

We have applied the latest technologies to the design of our CIPS L4M3 test prep not only on the content but also on the displays. As a consequence you are able to keep pace with the changeable world and remain your advantages with our CIPS Commercial Contracting L4M3 Training Materials.

CIPS L4M3 exam, also known as the CIPS Commercial Contracting exam, is a professional qualification designed for those who are interested in pursuing a career in procurement and supply chain management. L4M3 Exam is part of the Chartered Institute of Procurement and Supply (CIPS) Level 4 qualification, which is an internationally recognized qualification in procurement and supply chain management.

>> Valid L4M3 Mock Test <<

Free PDF Quiz Valid CIPS - Valid L4M3 Mock Test

If you are prepared to take the L4M3 exam with the help of excellent L4M3 learning materials on our website, the choice is made brilliant. Our L4M3 training materials are your excellent choices, especially helpful for those who want to pass the L4M3 Exam without bountiful time and eager to get through it successfully. Besides that, our L4M3 study questions have three versions: PDF version, Soft version and APP version, which can be interestinng and helpful for you to choose.

CIPS Commercial Contracting Sample Questions (Q153-Q158):

NEW QUESTION # 153
A school has a contract for the supply of fruit for break time. The school needs the fruit delivered by 10am every morning to be served at 10:30am. How would this best be covered in a commercial agreement?

A. Note on each purchase order
B. Contractual term
C. Pricing schedule
D. Sales of Goods Act 1974

Answer: B

Explanation:
Time-critical requirements, such as daily deliveries by a specific time, should be clearly stipulated as contractual terms. This ensures enforceability and provides a legal basis for remedy in the case of non- performance. Notes on purchase orders or general legislation do not offer the same level of protection or clarity.
Reference:
CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.1.1 - Express contract terms for delivery and performance.

NEW QUESTION # 154
Which of the following would be useful tools to incentivise supplier innovation over the duration of the contract?
1. Gainshare arrangement
2. Liquidated damages
3. Service credits
4. Fixed bonus payments

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

Answer: D

Explanation:
Gainshare is an incentive for cost control
Liquidated damage is common type of disincentive for late completion
Service credit is a remedy for not achieving targets set out in an SLA
Fixed bonus payment is an incentive for early completion
Reference: CIPS study guide page 185-188
LO 3, AC 3.3

NEW QUESTION # 155
Which of the following best defines an 'express' term in general contract arrangements?

A. It is not necessarily discussed by the parties, but nonetheless forms part of the contract
B. It is the term that is added to the contract by the law or based upon the facts of the case.
C. It is clearly agreed between the parties, and is virtually always written down in the contract
D. It is a standard set of terms and conditions published by CIPS

Answer: C

Explanation:
Express terms are the terms of the agreement which are expressly agreed between the parties. Ideally, they will be written down in a contract between the parties but where the contract is agreed verbally, they will be the terms discussed and agreed between the parties.
Implied terms are terms implied into the contract by the courts. They are not expressly set out in the contract but are taken to be as effective as if they were and as if they had been included from day one of the contract.
The express terms and any implied terms together create the legally binding obligations on the parties.
Reference:
- Contracts: Express and Implied Terms
- CIPS study guide 126-132
LO 3, AC 3.1

NEW QUESTION # 156
Which of the following is the most suitable model contract for car lift manufacturing?

A. CIPS
B. FIDIC
C. ITC
D. IMechE/IET

Answer: D

Explanation:
IMechE/IET: Institution of Mechanical Engineers/Institution of Engineering and Technology - two separate institutes that issue jointly agreed model forms covering the design, supply and installation of electrical, electronic and mechanical plant including special conditions for the ancillary development of software. Car lifts are mechanical products, so IMechE/IET is the most suitable model contract for this type of product.
FIDIC is a French language acronym for Federation Internationale Des Ingenieurs-Conseils, which means the international federation of consulting engineers. It was started in 1913 by the trio of France, Belgium and Switzerland. The United Kingdom joined the Federation in 1949. FIDIC is headquartered in Switzerland and now boasts of membership from over 60 different countries. FIDIC published its first contract, titled The Form of contract for works of Civil Engineering construction, in 1957. As the title indicated, this first contract was aimed at the Civil Engineering sector and it soon became known for the colour of its cover, and thus, The Red Book. It has become the tradition that FIDIC contracts are known in popular parlance by the colour of their cover. This first contract by FIDIC was undertaken jointly with the International federation of Building and Public works. FIDIC's concerted effort at achieving broad consultation and acceptance of its contract forms has seen subsequent editions of its contracts being ratified by the International Federation of Asian and Western Pacific Contractors Association, Associated General Contractors of America and the Inter-American Federation of the Construction Industry, Multilateral Development Banks among others. Because of the broad support it enjoys, FIDIC contracts are the foremost contracts in international construction.
The Chartered Institute of Procurement and Supply (CIPS) has some model contracts for IT functions including: supply and installation of computer equipment, support and maintenance of bespoke software, servicing of computer equipment,...
The International Trade Centre (ITC) produces contracts specifically designed for small companies doing international business, covering the sale of goods, distribution, services and joint ventures.
Reference:
LO 3, AC 3.1

NEW QUESTION # 157
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. Quantitative measure
B. Qualitative assessment
C. Numerical measure
D. Binary measure

Answer: B

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:
LO 2, AC 2.2

NEW QUESTION # 158
......

RealValidExam exam dumps have two version-PDF and SOFT version which will give you convenient. It is very convenient for you to use PDF real questions and answers. And you can download these materials and print it out for study at any time. The SOFT version simulates the real exam which will give you more realistic feeling. When you are faced with the real exam, you can pass CIPS L4M3 test easily.

L4M3 Questions: https://www.realvalidexam.com/L4M3-real-exam-dumps.html

P.S. Free 2025 CIPS L4M3 dumps are available on Google Drive shared by RealValidExam: https://drive.google.com/open?id=117YEk13TgLIugHcixq9AWJYz3syI3V6m

Jack King Jack King

Biography

Valid L4M3 Mock Test & L4M3 Questions

Free PDF Quiz Valid CIPS - Valid L4M3 Mock Test

CIPS Commercial Contracting Sample Questions (Q153-Q158):

Services

Affiliate

Get In Touch