Free CIPS L3M3 Exam Questions
Absolute Free L3M3 Exam Practice for Comprehensive Preparation
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CIPS L3M3 Exam Questions
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Provided By: CIPS
- Exam: Contract Administration (L3M3)
- Certification: Level 3 Advanced Certificate in Procurement and Supply Operations
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Total Questions: 90
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Updated On: Jan 10, 2025
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Rated: 4.9 |
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Online Users: 180
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Question 1
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Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:
Answer: E
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Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:
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Question 2
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Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.
Answer: D
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Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.
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Question 3
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What is the term for a situation where a seller sets a high introductory price for a new product, to attract buyers who have a strong desire to get the product early, and who can afford it? The price then gets gradually reduced over time.
Answer: C
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What is the term for a situation where a seller sets a high introductory price for a new product, to attract buyers who have a strong desire to get the product early, and who can afford it? The price then gets gradually reduced over time.
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Question 4
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A justification of an action (expenditure) that is to be taken by an organisation.
Answer: A
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A justification of an action (expenditure) that is to be taken by an organisation.
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Question 5
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What do we call a contract term which is part of the contract, but which is not written into the contract documents?
Answer: D
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What do we call a contract term which is part of the contract, but which is not written into the contract documents?