PASS L4M3 EXAM WITH UNPARALLELED POSITIVE L4M3 FEEDBACK BY EXAMCOLLECTIONPASS

Pass L4M3 Exam with Unparalleled Positive L4M3 Feedback by ExamcollectionPass

Pass L4M3 Exam with Unparalleled Positive L4M3 Feedback by ExamcollectionPass

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Tags: Positive L4M3 Feedback, Pass L4M3 Rate, L4M3 Dumps Questions, L4M3 Valid Test Voucher, Intereactive L4M3 Testing Engine

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CIPS L4M3 (CIPS Commercial Contracting) Exam is a certification program designed to provide procurement professionals with the knowledge and skills required to manage and negotiate commercial contracts effectively. CIPS Commercial Contracting certification program is offered by the Chartered Institute of Procurement and Supply (CIPS), which is recognized globally for its excellence in procurement and supply chain management.

CIPS Commercial Contracting Sample Questions (Q69-Q74):

NEW QUESTION # 69
A service contract is going to be expired, which data source is good to create specifications for ITT?
1. Incumbent supplier
2. Maintenance services
3. Alternative supplier
4. User's knowledge

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

Answer: D

Explanation:
There are a number of shortcuts that can be taken when drafting the specification. These include the following:
- The use of brand names
- The use of recognised standards
- The use of samples
- Information and knowledge from users/other buyers: Drafting a specification should naturally include those already used within the organisation itself, but also variants used by other companies in the same sector and other companies in different sectors
- Information from suppliers: suppliers will always be willing to assist in specification development, as this this one way in which they can seek to influence the design to favour their own products.
Reference: CIPS study guide page 81-85
LO 2, AC 2.1


NEW QUESTION # 70
Maria is working on a new one-off construction project and is looking to expand a factory. A requisition comes through for an outright purchase of a digger. Maria changes this to a lease order instead. Is she right to do so?

  • A. Yes, equipment should always be leased and never purchased
  • B. No, diggers are not allowed to be leased
  • C. Yes, this saves money and the business will not end up with an unwanted asset
  • D. No, buyers should not challenge or change a requisition

Answer: C

Explanation:
For short-term or one-off projects, leasing equipment is often more cost-effective than purchasing. It reduces the financial burden of asset ownership, such as depreciation and maintenance, especially if the equipment is not needed beyond the project's scope. Maria's decision aligns with sound procurement and asset management practices.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.1.1 - Fixed, unit rate, cost plus and leasing arrangements.


NEW QUESTION # 71
Which of the following is the type of insurance that cover the liabilities of service provider such as legal advice, accountancy, technical designs, etc?

  • A. Public liability
  • B. Employer's liability
  • C. PII
  • D. Product liability

Answer: C

Explanation:
The most usual forms of insurance cover are as below:
- Employer's liability: Employers' liability insurance, sometimes known as employment practices liability insurance (EPLI), protects employers from financial loss if a worker has a job-related injury or illness not covered by workers' compensation. Employers' liability insurance can be packaged with workers' compensation insurance to further protect companies against the costs associated with workplace injuries, illnesses, and deaths. Employers' liability insurance is also called "part 2" of a workers' compensation policy.
- Public/product liability: Public liability insurance covers you against any claims made against your business - for example if you were held legally liable for personal injury, or for damage done to property. The insurance will also cover you for any legal costs associated with defending claims against your business.
- Professional indemnity insurance (PII): Professional indemnity or liability insurance offers such coverage to professional advice or service providing individuals and companies ensuring protection against any legal costs and damages awarded as a result of claims relating to negligence. Whereas more general forms of liability insurance focus on direct forms of harm such as sustaining injuries, professional indemnity insurance provides a far more detailed and comprehensive form of coverage. The cover protects a firm or individual's liability relating to any financial loss caused by errors or omissions in the service provided as well as any alleged failure to perform on behalf of a client.
- Goods in transit coverage: Goods in transit insurance, sometimes referred to as GIT, covers goods against loss or damage while being moved from one place to another. These goods can be being carried by individuals in their own vehicle, self employed drivers or contractors or by third party carriers. The insurance can cover both domestic and international trips, with specific add-ons available for insurance within Europe.
Reference:
LO 3, AC 3.2


NEW QUESTION # 72
Which of the following statement is true about one-off contract?

  • A. Suppliers have many opportunities to improve the quality during the performance of one-off contract
  • B. Ad-hoc purchase is not a type of one-off purchase
  • C. One-off contracts only apply to low-value, low-risk purchase
  • D. One-off contracts can be used for services and works

Answer: D

Explanation:
One-off contract is the type of contract that relates to a single purchase. One-off contracts can be used for goods, services or works. One-off contract can be simple (such as buying a small number of office stationeries) or complex (such as a construction project or buying an aircraft).
A one-off contract lasts "until completion of the obligations of the parties". The performance is unlikely to be improved during contract performance since the duration is relatively shorter than framework agreement or call-off contract.
Ad-hoc purchase is an item bought for a single and non-recurring use or purpose. Ad-hoc purchase is a type of one-off contract.
Reference: CIPS study guide page 55-58
LO 1, AC 1.3


NEW QUESTION # 73
Which of the following should be used in a contract for window cleaning during the next three months?

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

Answer: C

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 # 74
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