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100% Pass Quiz 2026 CIPS Newest L4M3: CIPS Commercial Contracting Latest Exam On

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100% Pass Quiz 2026 CIPS Newest L4M3: CIPS Commercial Contracting Latest Exam On

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CIPS (Chartered Institute of Procurement and Supply) L4M3 exam is one of the most important exams for professionals who want to enhance their skills in commercial contracting. L4M3 exam is designed for individuals who are interested in gaining knowledge and skills in contract management, drafting, and negotiation. It is a Level 4 exam that is equivalent to a foundation degree and is part of the CIPS diploma in procurement and supply. L4M3 Exam is recognized globally and is highly valued by employers in the procurement and supply chain field.
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CIPS Commercial Contracting Sample Questions (Q95-Q100):NEW QUESTION # 95
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. 1 and 4 only
  • B. 3 and 4 only
  • C. 1 and 3 only
  • D. 2 and 4 only
Answer: A
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:
LO 3, AC 3.3

NEW QUESTION # 96
A category buyer is purchasing medical gases for a hospital, but is experiencing volatile and unfavourable market conditions due to multiple global external factors. Owing to the volatility, the hospital's finance director has tasked the buyer with providing certainty of costs for the next 18 months. Which of the following pricing methods will enable budgeting certainty, despite the highly volatile market conditions?
  • A. A cost plus award fee agreement
  • B. A fixed pricing arrangement
  • C. A penetration pricing strategy
  • D. Fixed pricing with economic price adjustments
Answer: B
Explanation:
A fixed pricing arrangement offers the buyer cost certainty by locking in a set price for the duration of the contract, regardless of market volatility. This is crucial in environments requiring tight budget control, such as healthcare procurement. Although suppliers may factor in risk premiums, it is ideal when predictability is the priority.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.2.2 - Use of fixed pricing to achieve budgetary control.

NEW QUESTION # 97
A senior buyer is preparing specification for the next purchase. He intends to embed social and environmental criteria that align with his organisation's overarching strategy. Which of the following provides the social and environmental objectives that an organisation pursues?
  • A. Economic performance
  • B. Organisation's CSR policies
  • C. Economy of scale
  • D. Procurement Systems and Technology
Answer: B
Explanation:
The organisation should have an overarching strategies or policies which sets out the social and environmental objectives to be pursued via procurement and the supply chain generally. Some of these will be about the specification, but that must be tied in other aspects of the sourcing strategy. These objectives, policies and strategies can be found in corporate social responsibility policy.
Reference: CIPS study guide page 96
LO 2, AC 2.1

NEW QUESTION # 98
Express terms in a contract are stated in which of the following? Select TWO that apply
  • A. Writing form
  • B. Trade customs
  • C. Orality
  • D. Statutes
  • E. Idea
Answer: A,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 page 126-132
LO 3, AC 3.1

NEW QUESTION # 99
Maximum Score 1
A construction company wishes to place the contract for the building of a new hotel to a principal contractor using a model form contract. Which of these is an advantage of using a 'model form contract'?
  • A. It avoids the requirement to create complex contracts each time but can be adapted to suit particular circumstances
  • B. Incentive payment terms can be included to reward the supplier for attainment of cost savings
  • C. Legal advice is still required if significant amendments or variations are to be made to the contract
  • D. Formulae or indices can be included to assess any additional supplier's claims for contract price adjustment
Answer: A
Explanation:
Model form contracts (e.g. NEC, JCT, FIDIC) save time and cost because the framework is pre-written and only needs adapting to specific projects.
Option A correctly identifies this benefit.
Reference: CIPS L4M3 Commercial Contracting - "Use of model form contracts and their advantages."

NEW QUESTION # 100
......
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