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CIPS L4M3 Exam Syllabus Topics:

Topic	Details
Topic 1	Recognise examples of contractual terms typically incorporated into contracts that are created with external organisations Invitation to tender or request for quotation
Topic 2	Drafting specifications and developing marketdialogue with suppliers Understand the legal issues that relate to the formation of contracts
Topic 3	Terms that apply to labour standards and ethical sourcing Including social and environmental criteria inspecifications
Topic 4	Cost plus and cost reimbursable pricing arrangements Invitations to treat or invitations to negotiate
Topic 5	Appraise examples of key performance indicators (KPIs) in contractual agreements Analyse the legal issues that relate to the creation of commercial agreements with customers or suppliers
Topic 6	Compare types of contractual agreements made between customers and suppliers Standardisation of requirements versus increasing the range of products
Topic 7	Recognise types of pricing arrangements incommercial agreements The battle of the forms and precedence of contract terms
Topic 8	Defining contractual performance measures or key performance indicators (KPI) Understand the key clauses that are included informal contracts

CIPS Commercial Contracting Sample Questions (Q35-Q40):

NEW QUESTION # 35
Which of the following should be taken to avoid the conflicts between orally negotiated terms before the conclusion of contract and the final written contract?

• A. Finding signs of misrepresentation of the other contracting party
• B. Prevailing orally negotiated terms over the final written contract
• C. Avoiding long negotiation
• D. Embedding a term excluding all prior oral discussions that are not mentioned in the final written contract

Answer: D Explanation:
When a written contract is based on oral negotiation, to avoid the conflicts between orally negotiated terms and final written contract, the contract should include an express term that specifically excludes all prior oral discussion. However, orally negotiated terms can be used to interpret the final contract.
This practice (excluding prior discussion) is so common in international commercial contract that UNIDROIT Principles of International Commercial Contracts have an article (2.1.17) dealing with this.
Reference:
LO 3, AC 3.1
NEW QUESTION # 36
Which of the following is the reason why liquidated damage clauses are embedded into a contract?

• A. To avoid argument on correct measure of damage
• B. Because compensation will be awarded immediately
• C. Because liquidated damages are the only remedy
• D. To penalise the supplier for their wrongdoing

Answer: A Explanation:
Liquidated damages are an amount of money, agreed upon by the parties at the time of the contract signing, that establishes the damages that can be recovered in the event a party breaches the contract. The amount is supposed to reflect the best estimate of actual damages when the parties sign the contract. These usually apply to a specific type of breach, and in construction, it is frequently the failure to complete work on time.
Liquidated damages clauses are usually written as some sort of formula, for example:
Total Contract Price - [(X amount of $ per day) x (number of days late)] Including a liquidated damages clause can provide many benefits, the most important of which is predictability. When setting a predetermined amount of damages, it allows both parties a chance to negotiate and settle on a number they both feel is fair and reasonable.
From the owner's perspective, this acts like a cheap form of insurance against your contractors. In the event of a breach, the owner can immediately calculate the damages without going through the trouble of proving actual damages. Proving actual damages can be a complicated, lengthy, and costly process.
From a contractor perspective, this allows them to analyze the level of risk involved, and schedule appropriately. It also allows them the opportunity to limit the damage claims of the owner.
Reference:
- Construction Contract Clauses: What Is a Liquidated Damages Clause?
- CIPS study guide page 158-159
LO 3, AC 3.2
NEW QUESTION # 37
Which of the following indicates the ratio between profit and costs?

• A. Gearing
• B. Mark-up
• C. Liquidity
• D. Margin

Answer: B Explanation:
Mark up is the profit as a percentage of total costs.
LO 3, AC 3.3
NEW QUESTION # 38
Which of the following is used to detail the complex matter that may be verbiage to the main document?

• A. Contract variation
• B. Standard terms and conditions
• C. Subcontracting
• D. Schedule

Answer: D Explanation:
Without further explanation, a schedule may be deemed to form an integral part of the obligations of either or both parties. Obviously, the scope or binding nature of such schedule depends on the way it is referred to in the obligatory language of the main agreement. Accordingly, merely attaching the general terms and conditions of sale without explaining to which part of the sale they apply or which provisions apply does not subject a sale pursuant to the body text of the agreement to those general terms and conditions.
Subcontracting is the practice of assigning, or outsourcing, part of the obligations and tasks under a contract to another party known as a subcontractor.
Reference:
- Schedules, annexes and exhibits
- CIPS study guide page 22-26
LO 1, AC 1.1
NEW QUESTION # 39
Which of the following are typically included in an SLA? Select TWO that apply:

• A. Service definition
• B. KPI details
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• C. Requirements for packaging
• D. Code of conduct
• E. Product's lifespan

Answer: A,B Explanation:
The core elements of an SLA are set out below:
- Service definition
- Quality definition
- KPI details
- KPI management response
- Operational performance and management response
- Constraints or mitigating factors
Reference:
LO 2, AC 2.2
NEW QUESTION # 40
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