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[General] Latest L4M3 Exam Discount - Reliable L4M3 Exam Prep

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【General】 Latest L4M3 Exam Discount - Reliable L4M3 Exam Prep

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The Chartered Institute of Procurement & Supply (CIPS) is an internationally recognized professional organization dedicated to advancing the procurement and supply management profession. The CIPS Commercial Contracting Certification Exam, also known as L4M3, is designed to validate the professional competencies of procurement and supply management professionals in the area of commercial contracting.
CIPS L4M3 Exam is a crucial assessment for procurement professionals who are looking to advance their career in commercial contracting. L4M3 exam focuses on the skills and knowledge required to successfully manage commercial contracts and ensure effective supplier performance. L4M3 exam covers a wide range of topics, including contract formation, contract administration, and contract termination.
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CIPS L4M3 (CIPS Commercial Contracting) Certification Exam is a professional certification exam offered by the Chartered Institute of Procurement and Supply (CIPS). CIPS Commercial Contracting certification is designed to help procurement professionals enhance their knowledge and skills in commercial contracting. CIPS Commercial Contracting certification is suitable for individuals who are seeking to develop a career in procurement, contract management or commercial management.
CIPS Commercial Contracting Sample Questions (Q100-Q105):NEW QUESTION # 100
Which of the following are implied terms in sales contracts? Select THREE that apply.
  • A. Payment method
  • B. Transfer of ownership
  • C. Customer satisfaction
  • D. Mode of transportation
  • E. Risk transfer
  • F. Fitness for purpose
Answer: B,E,F
Explanation:
Generally, under the Sale of Goods Acts (in UK, Singapore, Australia,...) or Commercial Codes (in France, Germany, Vietnam,...), the sale contracts have the following implied terms:
- the seller has the right to sell the goods. This is also a condition of the contract
- the goods are free from undisclosed security interests
- the goods supplied under the contract will be reasonably fit for any purpose which the buyer made known to the seller
- sales of unseen goods will be of merchantable quality, and match their description and conformwith a sample.
- Passing of risk
- Passing of possession and title
Reference: CIPS study guide page 126-132
LO 3, AC 3.1

NEW QUESTION # 101
Maximum Score 1
When a company has decided to outsource part of its operation, the contract will need to include a number of key contract terms to minimise risk. Which of the following should be included?
* A confidentiality clause designed to protect either party
* A clause stating how long the service is to be outsourced
* A clause stating how long the employees can take for holiday
* A contract variation and price adjustment clause
  • A. 3 and 4 only
  • B. 1 and 2 only
  • C. 2 and 4 only
  • D. 1 and 4 only
Answer: D
Explanation:
Risk-minimising clauses typically include:
* Confidentiality clauses (1) to protect business data.
* Variation and price adjustment clauses (4) to allow flexibility for scope or cost changes.Service duration and holidays are administrative and not risk-control terms.
Reference: CIPS L4M3 Commercial Contracting - "Contract clauses that control commercial risk."

NEW QUESTION # 102
Which of the following are likely to be advantages of using invitation to tender? Select TWO that apply:
Short turnaround times
  • A. Reducing risks of bribery and corruption
  • B. Lower administration costs
  • C. Quick implementation
  • D. Driving forward planning culture
Answer: A,D
Explanation:
Advantages of using invitation to tender may be as below:
No Nepotism: Tenders or bids are evaluated on the basis of certain predetermined criteria, such as price, quality and value for money. In other words, the firm offering the highest quality product or service at the lowest price point would win the contract. As most tender documents are opened and evaluated in a public process, I think that there remains little room for nepotism or favoritism of any kind.
Value for Money: From the perspective of the client, tenders offer the greatest value for the amount of money spent. This is due to the fact that the client can choose from a wide pool of potential suppliers to select the ones that can produce the highest quality product or service at the lowest price point. This allows the company, establishment or organization to save money without having to compromise on quality. Therefore, despite being quite time consuming, tendering is, in my opinion, a profitable long-term process from an organization's point of view.
Encourages Competition: The process of tendering helps promote a competitive market. This is because a number of potential contractors, firms or suppliers get a chance to bid for every project. And because selection depends on quality and price, every bidder tries to reduce operational inefficiencies and redundancies as much as possible in order to lower expenses and improve quality. This entire process encourages healthy competition in the market and prevents complacency and laziness, which in turn provides a boost to innovation and new ideas.
Easier Entry: The system of tendering makes it easier and simpler for new firms to enter the market or even a particular industry. This is due to the fact that contracts under this system are awarded on the basis of predetermined, objective criteria. As a result, even a firm that is a new entrant to the market, having no connections or contacts in the industry, can win a prestigious and lucrative contract by providing the highest value for the client's money. This process therefore helps new firms to quickly get a foothold in the market or industry, thus significantly lowering the traditional barriers to entry.
Reference:
- Characteristics and Benefits of the Tendering Process
- CIPS study guide page 6-8
LO 1, AC 1.1

NEW QUESTION # 103
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. Economy of scale
  • B. Procurement Systems and Technology
  • C. Economic performance
  • D. Organisation's CSR policies
Answer: D
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:
LO 2, AC 2.1

NEW QUESTION # 104
Michelle contacts Hannah and asks her if she would be interested in purchasing her car for £2000. Hannah immediately takes £2000 to Michelle and says she wants to buy the car. Michelle subsequently refuses to proceed. Has the contract between Michelle and Hannah been made?
  • A. No, because Michelle has rejected Hannah's offer on buying the car
  • B. Yes, by her performance Hannah has accepted Michelle's offer on selling the car
  • C. No, because by refusing to proceed, Michelle rejects Hannah's counter-offer
  • D. Yes, because both parties have full legal capability to enter into a contract
Answer: A
Explanation:
To solve the question, you must distinguish the following notion:
- Offer: The case of Storer v Manchester City Council [1974] 1 WLR 1403 outlines that an offer is: An expression of willingness to contract on specified terms, with the intention that it is to be binding once accepted
- Acceptance: in order for a contract to be formed, the offer must be accepted. Acceptance represents the meeting of the minds of the parties to the contract - both agree to exchange something for the other (payment, services, goods, etc.).
- Counter offer: is an offer made in response to a prior offer.
- Invitation to treat: An important distinction to make in contract law is that between an offer and an invitation to treat. An invitation to treat is usually an invitation for another party to make an offer. It may also be defined as an indication that a party is open to negotiation.
Here are some key distinctions of offers and invitation to treats.
Offer:
* Certain promise to be bound
* Clear and specified terms
* The conduct or words of the party show certainty
* There is no room for negotiation
Invitation to treat:
* There is room for negotiation
* There is an invitation for offers
* There is a request for information
* Lack of certainty
In the scenario above, initially Michelle just gives an invitation to treat because she is asking whether Hannah is interested to buy her car (request for information from Hannah). Hannah may reject or go into a negotiation with Michelle. Then, Hannah makes an offer by taking the money andshows her intention to be legally bound.
At this point, when Hannah's offer is present, Michelle can accept or reject. When she rejects, the contract is not formed. The answer must be "No, because Michelle has rejected Hannah's offer on buying the car".
Reference:
- Definition of Counter Offer
- Formation of the contract
- CIPS study guide page 28-35
LO 1, AC 1.2

NEW QUESTION # 105
......
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