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L4M3 Practice Exams Free, PDF L4M3 Download

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L4M3 Practice Exams Free, PDF L4M3 Download

Posted at yesterday 06:27      View：25 | Replies：0        Print      Only Author   [Copy Link] 1#
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CIPS Commercial Contracting Certification Exam is designed to assess the knowledge and skills required to effectively manage commercial contracts. CIPS Commercial Contracting certification is particularly relevant for those individuals who work in procurement, supply chain management, or contract management roles. L4M3 Exam is offered by the Chartered Institute of Procurement and Supply (CIPS), which is a globally recognized professional body for procurement and supply chain professionals.
Newest L4M3 Practice Exams Free for Real ExamThese formats save you from going through sleepless preparation nights and hectic L4M3 test practice. LatestCram L4M3 practice exams come in these two versions: desktop software and web-based test. A team of experts has approved this L4M3 practice test after a thorough analysis of the interface and content. The CIPS L4M3 Mock Test has a built-in tracker which keeps a record of your progress in each take for you to easily analyze and improve your CIPS L4M3 preparation.
CIPS L4M3 certification exam is an essential qualification for procurement professionals who are involved in commercial contracting. It is widely recognized by employers all over the world, and it is designed to equip candidates with the skills and knowledge they need to manage contracts effectively. If you are looking to take your procurement career to the next level, then the CIPS L4M3 Certification Exam is definitely worth considering.
CIPS Commercial Contracting Sample Questions (Q110-Q115):NEW QUESTION # 110
Royal Naval Hospital at Rockstown, Anyport manages a fleet of nine ambulance vehicles. During busy periods, it becomes very difficult to keep track of the location of each ambulance (and the nature of their journey). Continual problems lead to the proposal for a new control system (ERNS).
For this ERNS project, the procurement department has drafted a specification in which only a bullet point list of basic requirements was written down. The procurement manager understands that the specification should be developed more specifically but a cross functional team from the Hospital could not do that. A senior buyer suggests that some of Hospital's pre-qualified suppliers could support them in developing the specification.
Which of the following should be a priority approach of procurement department in developing dialogue with those suppliers about specification development?
  • A. One-to-one meeting with the suppliers
  • B. Request for quotation from the suppliers
  • C. General networking
  • D. Internal discussion
Answer: A
Explanation:
The procurement team has drafted basic requirements in the specification. They will need to develop it further and more specific. Developing market dialogue with supplier is a good solution. There are number of approaches which can be taken to engage with suppliers:
- General meetings: buyer meets supplier at a networking event (such as trade show) or social media. These discussions are unlikely to deliver very specific information.
- One-to-one meetings: This will be most likely to deliver direct input into specification development and supplier-specific product development information.
- Group visits
- Meet-the-buyer events
- Formal negotiations or competitive
The answer for this QUESTION should be One-to-one meeting.
Reference:
LO 2, AC 2.1

NEW QUESTION # 111
The pricing arrangement in which markup is added into cost base to calculate the final price is known as...?
  • A. Cost plus pricing
  • B. Fixed Price approach
  • C. Market based approach
  • D. Price indices
Answer: A
Explanation:
The market approach is a method of determining the value of an asset based on the selling price of similar assets.
A fixed-price strategy means you set a price and keep it constant for an extended period of time.
Cost-plus pricing is also known as markup pricing. It's a pricing method where a fixed percentage is added on top of the cost to produce A price index (PI) is a measure of how prices change over a period of time, or in other words, it is a way to measure inflation. There are multiple methods on how to calculate inflation (or deflation).
Reference:
LO 3, AC 3.3

NEW QUESTION # 112
Which of the following might be considered as advantages, to the supplier, of key performance indicators (KPIs)? Select TWO that apply.
  • A. They help the supplier to ensure that they do not exceed the target performance levels
  • B. They help the supplier to focus on specific critical success factors and maximise on effectiveness
  • C. They help the supplier to achieve higher productivity by cutting down on other aspects like quality
  • D. They help the supplier to avoid confusion arising from unclear expectation from buyers
  • E. They help the supplier to share their best cost-saving systems with their competitors
Answer: B,D
Explanation:
From the supplier's perspective, well-constructed KPIs:
* Focus on critical success factors (A) - allows the supplier to allocate resources effectively and improve performance where it matters most.
* Clarify expectations (C) - clear KPIs reduce confusion and misunderstandings about what the buyer actually needs.
Options B, D and E are either negative or nonsensical from a supplier-advantage viewpoint:
* Cutting quality (B) is not a legitimate advantage; it increases risk.
* Sharing best systems with competitors (D) is definitely not an advantage.
* Ensuring they do not exceed performance levels (E) is not beneficial; suppliers often want to exceed targets for reputation or gain-share.
Reference: CIPS L4M3 Commercial Contracting - Benefits of KPIs for buyers and suppliers.

NEW QUESTION # 113
Standard terms and conditions should become the governing terms for which group of items?
  • A. Leverage items
  • B. Routine items
  • C. Bottleneck items
  • D. Strategic items
Answer: B
Explanation:
Standard terms and conditions are set of terms that is prepared by an organisation. These terms can become the governing terms in low-value, low-risk transactions (or Routine items according to Kraljic's portfolio model). They can be a reference when negotiating for more important contract.
Reference:
LO 3, AC 3.1

NEW QUESTION # 114
As part of a long-term contract, a buyer may wish to use separate service level agreements (SLAs). If the targets are not met, which of the following options would compensate the purchaser?
  • A. Service standards
  • B. Service credits
  • C. Service schedules
  • D. Service guarantees
Answer: B
Explanation:
Service credits are financial compensations provided to the buyer when the supplier fails to meet the agreed- upon service levels outlined in the SLA. They serve as a remedy for underperformance. Service guarantees are commitments to meet certain standards, service standards define the expected level of service, and service schedules outline the timing of service delivery, but none directly compensate the buyer for service failures.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 2, Section 2.2.2 - The use of service level agreements (SLAs).

NEW QUESTION # 115
......
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