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Exam Code:
L4M3
Exam Name:
Commercial Contracting
Last Update: Nov 22, 2024
190 Questions Answers with Explanation Detail
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L4M3 Q&A's Detail

Exam Code:
L4M3
Total Questions:
190 Q&A's
Single Choice Questions:
159 Q&A's
Multiple Choice Questions:
29 Q&A's

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All CIPS Level 4 Diploma in Procurement and Supply Related Certification Exams

L4M1 Dumps
Scope and Influence of Procurement and Supply
Total Questions: 40
Updated: 22-Nov-2024
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L4M2 Dumps
Defining Business Needs
Total Questions: 237
Updated: 22-Nov-2024
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L4M4 Dumps
Ethical and Responsible Sourcing
Total Questions: 180
Updated: 22-Nov-2024
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L4M5 Dumps
Commercial Negotiation
Total Questions: 223
Updated: 22-Nov-2024
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L4M6 Dumps
Supplier Relationships
Total Questions: 180
Updated: 22-Nov-2024
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L4M7 Dumps
Whole Life Asset Management
Total Questions: 255
Updated: 22-Nov-2024
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L4M8 Dumps
Procurement and Supply in Practice
Total Questions: 192
Updated: 22-Nov-2024
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Other CIPS Certification Exams

CIPS L4M3 Exam Dumps FAQs

The CIPS L4M3 Commercial Contracting Exam is a certification exam that tests the knowledge and skills of procurement and supply chain professionals in commercial contracting. It is one of the core modules of the CIPS Level 4 Diploma in Procurement and Supply.

The L4M3 syllabus delves into:

  • Contract formation and legal aspects: Learn about offer, acceptance, consideration, and different types of contracts.
  • Contractual terms and conditions: Understand key clauses like force majeure, indemnities, and dispute resolution.
  • Specifications and Key Performance Indicators (KPIs): Master interpreting specifications and setting effective KPIs for supplier performance.
  • Contract risk management: Identify and mitigate potential risks through contractual provisions.
  • Informal contracts and ethical considerations: Understand the validity of informal agreements and ethical practices in contracting.
The CIPS L4M3 Commercial Contracting exam consists of 50 multiple-choice questions.
The CIPS L4M3 Commercial Contracting exam has a duration of 90 minutes.
The pass mark for the CIPS L4M3 Commercial Contracting exam is 50%.
The CIPS L4M3 Commercial Contracting exam does not have an expiry date.

The CIPS L4M2 and L4M3 exams are both part of the Level 4 Diploma in Procurement and Supply, but they cover different aspects of the procurement process. Here's a breakdown of their key differences:

  • L4M2 Defining Business Needs Exam: The CIPS L4M2 Exam focuses on the early stages of the procurement cycle, specifically identifying and analyzing business needs, developing compelling business cases for external sourcing, and defining clear specifications.
  • L4M3 Commercial Contracting Exam: The CIPS L4M3 Exam delves deeper into the middle stages of procurement, covering contract formation, risk management, negotiation strategies, managing supplier relationships, and different types of contracts.
The CIPS L4M3 Commercial Contracting exam is considered to be of moderate difficulty.
Marks4sure offers study materials in the form of L4M3 PDF questions and L4M3 testing engines for the CIPS Level 4 Diploma in Procurement and Supply Certification. They also offer a smooth purchasing process that involves adding the L4M3 dumps product to the cart and proceeding with payment for instant access.
Marks4sure provides access to past L4M3 exam questions and solutions, giving you invaluable insights into the exam format and content.
Marks4sure offers a success guarantee for the CIPS L4M3 Commercial Contracting Exam. If you fail the exam after using their L4M3 study guides, they will refund your money.

Commercial Contracting Questions and Answers

Questions 1

SFO procurement manager sent a request for quotation to Vogon International in which he determined the contract terms and specification. In SFO's standard terms and conditions, it is stated that 'Goods shall be delivered and Services performed by the applicable Delivery Date. Supplier must notify Buyer 3 days prior to the Delivery Date if Supplier is likely to be unable to meet a Delivery Date.'

Vogon replied with a quotation without any amendment to SFO's terms & conditions. The SFO procurement manager found the prices were reasonable and submitted to senior management. Senior management team accepted that quotation and sent a notification to Vogon. On the Delivery Date, Vogon said they had no capacity to supply the product as the quotation due to a workers' strike. Did Vogon breach any agreement with SFO?

Options:

A.

No, because Vogon had no intention to be bound by the quotation, therefore, it didn’t constitute a contract

B.

No, because the strike is a force majeur event, so Vogon did not breach any contract with SFO

C.

Yes, because the contract was formed since Vogon had sent the quotation as an acceptance to SFO’s offer

D.

Yes, because the contract had been formed between SFO and Vogon with the quotation as an offer and the notification as an acceptance

Questions 2

XYZ Ltd is negotiating a long-term supply contract of important parts with a supplier. Dave, procurement manager teams up with Alla, legal manager to construct a service level agreement. Dave is concerned that poor performance of supplier may cause damages to the operations of the organisation. Which of the following can be used in conjunction with SLA to compensate the buying organisation in case of supplier's poor performance?

1. Warranties

2. Force majeure clauses

3. Penalty clauses

4. Service credits

Options:

A.

1 and 3 only

B.

3 and 4 only

C.

1 and 2 only

D.

4 and 2 only

Questions 3

Information assurance protects information systems and...?

Options:

A.

Hard copy

B.

Computers

C.

Inventory

D.

People

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