L4M3 EXAM PREP, VALID L4M3 DUMPS

L4M3 Exam Prep, Valid L4M3 Dumps

L4M3 Exam Prep, Valid L4M3 Dumps

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Obtaining the CIPS L4M3 certification demonstrates to employers and clients that an individual has a comprehensive understanding of commercial contracting practices, which can contribute to increased efficiency, risk management, and better-informed business decisions. CIPS Commercial Contracting certification offers a significant career advantage in a competitive job market and can lead to new career opportunities and increased earning potential.

To be eligible for the CIPS L4M3 Certification Exam, individuals must have completed the CIPS L4M1 (CIPS Contexts of Procurement and Supply) and CIPS L4M2 (CIPS Business Needs in Procurement and Supply) certifications. They must also have at least three years of experience in a procurement or supply chain management role.

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2025 L4M3: CIPS Commercial Contracting Marvelous Exam Prep

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CIPS Commercial Contracting Sample Questions (Q158-Q163):

NEW QUESTION # 158
Which of the following key performance indicators are most likely to use numerical data as the main source of information?
The critical evaluation of project deliverables
The subjective responses of a satisfaction survey regarding a service
The instances of late deliveries within a given month
The occurrence of accidents and near misses in a year

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

Answer: D

Explanation:
KPIs that involve actual counts or quantifiable incidents are considered quantitative and use numerical data.
"Late deliveries" and "accidents or near misses" are measured in numbers, making them suitable for numerical performance tracking. The other options relate more to qualitative analysis or subjective feedback.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.3.2 - Quantitative KPIs and performance data.


NEW QUESTION # 159
A large company supplies a lot of products. Their shipments are often delayed and customers are not satisfied.
Which of the following KPIs is most likely to be applied to this situation?

  • A. Consignment stock availability
  • B. Technical support
  • C. Delay damages
  • D. OTIF delivery

Answer: D

Explanation:
If the deliveries often delay, buyer should use KPI to measure how many missed deliveries there are and the percentage of total missed deliveries on total number of deliveries for period. OTIF (one-time in-full) delivery might help.
Consignment stock availability means that the supplier holds adequate range/number of units of stock to offer a reliable service Delay damages are the consequences caused by delay of deliveries Technical support is the acceptable quality of technical information/support provided by supplier for goods supplied.
LO 2, AC 2.2


NEW QUESTION # 160
When a contract has been agreed on the basis of a fraudulent misrepresentation, which of the following remedies are available?

  • A. Rescission only
  • B. Damages only
  • C. An injunction only
  • D. Both damages and rescission

Answer: C

Explanation:
An untrue statement of fact or law made by Party A (or its agent) to Party B, which induces Party B to enter a contract with Party A thereby causing Party B loss. An action for misrepresentation can be brought in respect of a misrepresentation of fact or law.
There are three types of misrepresentation:
- Fraudulent misrepresentation: where a false representation has been made knowingly, or without belief in its truth, or recklessly as to its truth.
- Negligent misrepresentation: a representation made carelessly and in breach of duty owed by Party A to Party B to take reasonable care that the representation is accurate. If no "special relationship" exists, there may be a misrepresentation under section 2(1) of the Misrepresentation Act 1967 where a statement is made carelessly or without reasonable grounds for believing its truth.
- Innocent misrepresentation: a representation that is neither fraudulent nor negligent.
The remedies for misrepresentation are rescission and/or damages. For fraudulent and negligent misrepresentation, the claimant may claim rescission and damages. For innocent misrepresentation, the court has a discretion to award damages in lieu of rescission; the court cannot award both (see section 2(2) of the Misrepresentation Act 1967). For more information, see Practice note, Misrepresentation.
Reference:
- Misrepresentation
- CIPS study guide page 55
LO 1, AC 1.2


NEW QUESTION # 161
Why would you use a non-disclosure agreement?

  • A. To agree between parties what information is and is not confidential and what can be in the public domain
  • B. To protect parties, where information has been shared that is not in the public domain
  • C. To allow parties the freedom to disclose confidential information to the public domain
  • D. To give parties permission to share all information in the public domain

Answer: B

Explanation:
A non-disclosure agreement is used to protect confidential information shared during discussions or collaborations. It ensures that sensitive data is not disclosed to unauthorized parties and maintains trust between contractual parties during tendering or negotiation.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 3, Section 3.2.1 - Use of NDAs in procurement.


NEW QUESTION # 162
Bandpro is a reseller of branded computer products to the private and public sector. The procurement team must purchase 500 items each day solely by multiple phone calls and emails to suppliers. Due to this practice, it takes a lot of time to track and collect relevant documents.Some important documents even get lost, which makes procurement audit more burdensome. Which of the following would increase the robustness of audit trails in procurement activities?

  • A. Spend less time on auditing procurement procedures
  • B. Adopt e-procurement
  • C. Rectify non-compliant activities
  • D. Every evidence must be recorded by paper

Answer: B

Explanation:
Audit trail is a chronological record the sequence of events connected to a given transaction, such as a purchase of raw materials, payroll disbursements, or a detailed financial statement. The record includes all the source documents connected to the transaction, providing context and clarity in the event a review is required.
The more comprehensive the documentation, the more effective the audit trail is when used to create financial reports, verify information, and ensure compliance while eliminating fraud.
In the scenario, the procurement team gets the quotation from phone calls and emails which have weak audit trails and lack of transparency. One solution may be increasing the use of e-procurement system.
Reference:
- What is an audit trail?
- CIPS study guide page 6-7
LO 1, AC 1.1


NEW QUESTION # 163
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