CIPS L3M3 Contract Administration Online Training
CIPS L3M3 Online Training
The questions for L3M3 were last updated at Nov 23,2024.
- Exam Code: L3M3
- Exam Name: Contract Administration
- Certification Provider: CIPS
- Latest update: Nov 23,2024
Question #31
Which of the following statements is untrue? Select two.
- A . The framework arrangement establishes the basic terms and conditions that will apply to subsequent orders
- B . A framework arrangement cannot be used for consultancy services, although it can be used for construction work.
- C . There is an obligation to buy under a framework arrangement
- D . In most cases, a framework arrangement is not itself a contract.
Question #32
Contribution is equivalent to:
- A . Selling price minus total costs
- B . Selling price
- C . Selling price minus fixed costs
- D . Selling price minus variable costs
Question #33
A contract clause indicating damages to be recovered in the event of under-performance, with the proposed damages being a genuine pre-estimate of loss, is called a:
- A . Punitive damages clause
- B . Liquidated damages clause
- C . Penalty clause
- D . Unliquidated damages clause
Question #34
Win-win style negotiations are said to be:
- A . Collaborative
- B . Cohesive
- C . Coherent
- D . Conducive
Question #35
Which one of the following is least likely to be a barrier to free trade?
- A . Exchange controls
- B . Subsidies for exporters and internal producers of products
- C . Trading blocs
- D . Embargoes
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