CIPS L3M3 Contract Administration Online Training
CIPS L3M3 Online Training
The questions for L3M3 were last updated at Nov 19,2024.
- Exam Code: L3M3
- Exam Name: Contract Administration
- Certification Provider: CIPS
- Latest update: Nov 19,2024
Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.
- A . Opportunity cost
- B . Absorption cost
- C . Indirect cost
- D . Overhead cost
Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:
- A . Uni form
- B . Model form
- C . Paper form
- D . Trans form
- E . Good form
Win-win negotiations can be described as expanding the:
- A . Pie
- B . Sky
- C . Tie
- D . Dye
Johnson, Scholes and Whittington suggested three key criteria for options which can be used in the evaluation of a business case.
Which word was not one of these three key criteria?
- A . Transferability
- B . Feasibility
- C . Acceptability
- D . Suitability
Key players have a:
- A . High level of interest but little influence
- B . High level of interest and little power
- C . High level of power and a high level of interest
- D . High level of power but little interest
Under a XXXX contract, the buyer does commit to purchase a given quantity over a given period of time, but the precise number of orders and their quantities is unknown at the start of the period.
What expression has been replaced by XXXX?
- A . Call-off
- B . Framework
- C . Oral
- D . Term
A ‘cause and effect’ or ‘fishbone’ diagram is also commonly known as:
- A . A Murakami diagram
- B . A Fukushima diagram
- C . An Ishiguro diagram
- D . An Ishikawa diagram
‘A purchasing procedure whereby potential suppliers are invited to make a firm and unequivocal offer of the price and terms on which they will supply specified goods or services which, on ac-ceptance, shall be the basis of the subsequent contract’
- A . Competitive dialogue
- B . Request for information
- C . Invitation to tender
- D . Expression of interest
What is a contract?
- A . An agreement between two or more parties which is intended to be enforceable by any means feasible.
- B . An agreement between two or more parties which is enforceable in law.
- C . An agreement between two or more parties which is intended to be honoured.
- D . An agreement between two or more parties which, all other things being equal, is in-tended to be enforceable by law.
Latest L3M3 Dumps Valid Version with 90 Q&As
Latest And Valid Q&A | Instant Download | Once Fail, Full Refund
