L4M3 REAL BRAIN DUMPS - L4M3 DOWNLOAD FREE DUMPS

L4M3 Real Brain Dumps - L4M3 Download Free Dumps

L4M3 Real Brain Dumps - L4M3 Download Free Dumps

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Achieving the CIPS L4M3 certification demonstrates that an individual has a strong understanding of the principles of commercial contracting, as well as the ability to apply those principles in a practical setting. CIPS Commercial Contracting certification is highly respected in the procurement and supply chain management field and can lead to enhanced career opportunities and increased earning potential.

CIPS L4M3 exam is a challenging exam that requires candidates to have a solid understanding of the principles of commercial contracting. Candidates who pass the exam are recognized as experts in the field and are highly sought after by employers. L4M3 exam is an excellent opportunity for procurement and supply chain professionals to enhance their skills and knowledge, improve their career prospects, and contribute to the success of their organizations.

CIPS L4M3 Certification Exam is an excellent way for procurement professionals to gain specialized knowledge and advanced skill sets in commercial contracting. With the increasing need for competent commercial contracting professionals worldwide, individuals acquiring this certification are quite valuable to organizations. Moreover, this certification provides insight into key factors affecting the contracting process, including legal and financial aspects. Overall, it offers an excellent opportunity for those looking to develop their careers in procurement and contracting.

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Most probable real and updated CIPS L4M3 exam questions

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CIPS Commercial Contracting Sample Questions (Q147-Q152):

NEW QUESTION # 147
Which of the following are likely to be express terms in a contract?
1. Legislation
2. Custom and practice
3. Contract particulars
4. Terms and conditions

  • A. 1 and 4 only
  • B. 3 and 4 only
  • C. 2 and 3 only
  • D. 1 and 2 only

Answer: B

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.
The types of express terms to be found in a contract are many and varied and will depend on the type of contract. Any term written into the contract is an express term and may refer to price, time scales, warranties and indemnities, limitations on liability, conditions precedent and so on.
Reference:
- Contracts: Express and Implied Terms
- CIPS study guide page 32
LO 1, AC 1.2


NEW QUESTION # 148
Which of the following are likely to feature within an outcome-specification?
1. Dimension
2. Performance requirement
3. Input material
4. Product function

  • A. 3 and 4 only
  • B. 2 and 4 only
  • C. 1 and 2 only
  • D. 1 and 3 only

Answer: B

Explanation:
There are two main types of specification: performance specification and conformance specification (sometimes called prescriptive or technical specifications).
Performance specifications have following features:
- Focus on outputs
- Set out result to be achieved
- The 'what', not the 'how'
- Give supplier flexibility to present solutions that the buyer may not have considered Reference:
LO 1, AC 1.1


NEW QUESTION # 149
Which of the following documents are likely to have legal standing? Select TWO that apply:

  • A. Requisition
  • B. Quotation
  • C. Estimate
  • D. Tender
  • E. Request for information

Answer: B,D

Explanation:
A quotation and a tender are both firm offers which have legal standing to the offeror. Tenders are more detailed than quotations and will include quality aspects as well as prices.
LO 1, AC 1.1 & AC 1.2


NEW QUESTION # 150
According to rule of contract formation, which of the following is a valid acceptance?

  • A. The person states that she is able to pay the offered price
  • B. The person says that she will think about it overnight
  • C. The person asks for a lower price
  • D. The person orally agrees to pay the offered price

Answer: D

Explanation:
Once a valid acceptance takes place, a binding contract is formed. It is therefore important to know what constitutes a valid acceptance in order to establish if the parties are bound by the agreement. There are three main rules relating to acceptance:
1. The acceptance must be communicated to the offeree.
2. The terms of the acceptance must exactly match the terms of the offer.
3. The agreement must be certain.
Among the answers:
"The person says that she will think about it overnight" does not match the terms of the offer. The offeree does not assure that she will accept the offer.
"The person asks for a lower price": This is a counter-offer.
"The person states that she is able to pay the offered price" is not certain. The offeree merely provides information on her financial ability.
Reference:
- Contractual agreement - offer and acceptance
- CIPS study guide page 33-35
LO 1, AC 1.2


NEW QUESTION # 151
Which of the following should be done by procurement professionals right after obtaining a pre-written specification for a critical item so that the added value will be the greatest?

  • A. Challenge the used specification
  • B. Select the best supplier
  • C. Evaluate tender or quotation
  • D. Issue invitation to tender or request for quotation

Answer: A

Explanation:
A previously used specification must always be robustly challenged to see how well it fits the proposed circumstances. Aspects which appear not to fit should be analysed to understand why they were included in the sample specification and whether this changes the view on whether or not they should be omitted or changed.
Reference: CIPS study guide page 80
LO 2, AC 2.1


NEW QUESTION # 152
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