over 1 year ago

BONUS!!! Download part of PrepAwayPDF L4M3 dumps for free: https://drive.google.com/open?id=1ldg9YpiAgIp5Ep_Zi1fbb7Ufla9iF-1O In our study, we found that many people have the strongest ability to use knowledge for a period of time at the beginning of their knowledge. As time goes on, memory fades. Our L4M3 training materials are designed to help users consolidate what they have learned, will add to the instant of many training, the user can test their learning effect in time after finished the part of the learning content, have a special set of wrong topics in our L4M3 Guide dump, enable users to find their weak spot of knowledge in this function, iterate through constant practice, finally reach a high success rate. As a result, our L4M3 study questions are designed to form a complete set of the contents of practice can let users master knowledge as much as possible, although such repeated sometimes very boring, but it can achieve good effect of consolidation.

CIPS L4M3 Exam Syllabus Topics:

Topic	Details
Topic 1	Risks presented by contracting on suppliers terms or through oral contracts Analyse the content of specifications for procurements
Topic 2	Analyse contractual terms for contracts that arecreated with external organisations The Vienna Convention on the International Sales of Goods
Topic 3	Compare types of contractual agreements made between customers and suppliers Standardisation of requirements versus increasing the range of products
Topic 4	Defining contractual performance measures or key performance indicators (KPI) Understand the key clauses that are included informal contracts
Topic 5	Recognise types of pricing arrangements incommercial agreements The battle of the forms and precedence of contract terms

>> L4M3 Exam Guide Materials <<

Free PDF Quiz CIPS - L4M3 - CIPS Commercial Contracting –Efficient Exam Guide Materials

With L4M3 guide torrent, you can easily pass professional qualification exams of various industries, even if you are not a college graduate, and you have never come into contact with this professional knowledge. With L4M3 exam torrent, you can also quickly get started, easily grasp the key points of the exam, and gain access to well-known companies. L4M3 Guide Torrent helps you to use the least time to get the maximum improvement. With our L4M3 certification training, you pay for money, but you can get time and knowledge that money cannot buy.

CIPS Commercial Contracting Sample Questions (Q42-Q47):

NEW QUESTION # 42
Bethy sees a coat on shop window with a $100 price tag. She comes and asks the shop owner to buy it. The owner states that the price has not been updated and the current price for the coat is $120. Bethy says the owner should honour the quoted price on window shop. Is Bethy correct?

• A. No, the owner is revoking his initial offer to sell at $100 and he is proposing new offer to Bethy
• B. Yes, the owner has made an offer by showing his product on the shop window and he must honour that offer
• C. No, the display on shop window is just an invitation to treat and the owner may change the price at his will
• D. Yes, $120 for a coat is extremely unreasonable and the owner's later offer therefore void

Answer: C Explanation:
Based on two famous precedents, Fisher v. Bell (1961) and Pharmaceutical Society of Great Britain v. Boots Cash Chemists (1953), the display on shop window is considered as an invitation to treat. The shop owner can change the price when his customer asks to buy.
Reference:
LO 1, AC 1.2
NEW QUESTION # 43
Which of the following are most likely to be liabilities of suppliers under a guarantee clause? Select

• A. Repair
• B. Decommissioning
• C. Upgrading
• D. Installation
• E. Replacement
• F. TWO that apply

Answer: A,E Explanation:
A guarantee is an agreement given by a trader to a consumer, without any extra charge, to repair, replace or refund goods that do not meet the specifications set out in the guarantee. A guarantee is usually issued by the manufacturer of goods or by a trader that provides goods as part of a service - replacement windows, for instance. Generally, a guarantee provider undertakes to carry out free repairs, for a set period of time, for problems that can be attributed to manufacturing defects.
Reference:
- Guarantees and warranties
- CIPS study guide page 157-159
LO 3, AC 3.2
NEW QUESTION # 44
Which of the following should be used in a contract for window cleaning during the next three months?

• A. Standard schedule of rates
• B. Variable pricing arrangement
• C. Cost-plus arrangement
• D. Fixed pricing arrangement

Answer: D Explanation:
A contract for window cleaning during the next three months is a short-term service contract in which changes of input costs (labour, tools,...) are very unlikely to happen.
Fixed pricing arrangement is useful for small to medium scope project, with short timelines, where what is delivered can be adequately specified and the likelihood of changes to the specification, scope and input costs is limited.
Reference:
LO 3, AC 3.3
NEW QUESTION # 45
What is the purpose of using key performance indicators in procurement and supply?

• A. To qualify which supplier is suitable
• B. To validate the supplier's bid or tender
• C. To monitor supplier's performance
• D. To ease the termination process

Answer: C Explanation:
Procurement teams use key performance indicators (KPIs) to ensure vendors comply with (and hopefully exceed) the obligations outlined in a contract. They help us better understand suppliers' performance, measure their output over a long period of time, and identify areas where improvement is needed.
Put simply, it's good business sense to make sure you're actually getting what you've paid for. This might be as straightforward as confirming a product or service is delivered on time, which means the KPIs you need to use will be minimal and basic.
Reference:
- Supplier KPIs | 7 Performance Indicators You Should Be Measuring - Una
- CIPS study guide page 101-102
LO 2, AC 2.2
NEW QUESTION # 46
Infra Constructions receive a contract for construction of a building, and following terms were agreed upon. "The entire cost of the project will be reimbursed to Infra Constructions (estimated cost of the project being $ 25 million). The profits will be 20% of the entire cost of a project subject to a max of $ 5 million." This arrangement is an example of...?

• A. Gain-share/pain-share arrangment
• B. Cost-plus pricing arrangement
• C. Incentive pricing arrangement
• D. Fixed-pricing arrangement

Answer: B Explanation:
In the contract term, the buyer agrees to pay the contractor the cost of doing project plus a profit. This is an example of cost-plus pricing arrangement.
On the other hand, "Fixed-pricing arrangement" often refers to lump-sum contract or supply/service contract with fixed price. "Incentive pricing arrangement" and "Gain-share/pain-share arrangement" have the same meaning. In this type of arrangement, both supplier and buyer agree on a target (it can be cost, or lead time, or quality, etc). Once the supplier reaches that target, it will be rewarded with a portion of the gain that the buyer gets, and will pay the price if it fails.
Reference:
LO 3, AC 3.3
NEW QUESTION # 47
...... We are well acknowledged for we have a fantastic advantage over other vendors - We offer you the simulation test with the Soft version of our L4M3 exam engine: in order to let you be familiar with the environment of L4M3 test as soon as possible. Under the help of the real simulation, you can have a good command of key points which are more likely to be tested in the real L4M3 test. Therefore that adds more confidence for you to make a full preparation of the upcoming L4M3 exam. L4M3 Latest Questions: https://www.prepawaypdf.com/CIPS/L4M3-practice-exam-dumps.html P.S. Free 2023 CIPS L4M3 dumps are available on Google Drive shared by PrepAwayPDF: https://drive.google.com/open?id=1ldg9YpiAgIp5Ep_Zi1fbb7Ufla9iF-1O