Home
- Salesforce
- Nutanix
- Amazon
- Microsoft
- Cisco
- SAP
- Google
- MuleSoft
- IAPP
- PeopleCert
- Fortinet
- CompTIA
- See All Vendors
Contact Us
Register / Login

Home
CIPS
Level 3 Advanced Certificate in Procurement and Supply Operations
L3M3 Free Questions
CIPS L3M3 Quiz:1 Topic:1 Questions:1-5

Home
CIPS
Level 3 Advanced Certificate in Procurement and Supply Operations
L3M3 Free Questions
CIPS L3M3 Quiz:1 Topic:1 Questions:1-5

CIPS L3M3 Quiz:1 Topic:1 Questions:1-5

Free Practice Mock Questions Set 1-5 (Quiz # 1) for CIPS L3M3 Exam, according to official CIPS Contract Administration exam syllabus topic # 1

Question: 1

Where all does not go well on a contract and there are significant increased costs of implementation, a contract clause may exist whereby both buyer and contractor share the unanticipated additional costs using a pre-agreed formul

a. What is the expression which describes such an arrangement?

APainshare

BPenalty clause

CGainshare

DRightful share

Answer : A

Show Answer

Hide Answer

Question: 2

Win-win negotiation is not commonly described as a (choose the most appropriate):

Azero sun game

Bsomeone game

Cwin some gain

Dzero sum game

Answer : D

Show Answer

Hide Answer

Question: 3

'When the best XXX is selected, a formal YYY ZZZ is prepared and sent to the supplier. Choose the most likely words to replace XXX, YYY and ZZZ.

ASpecification, purchase order

BSpecification, delivery address

CQuotation, purchase order

DQuotation, order acknowledgement

Answer : C

Show Answer

Hide Answer

Question: 4

If your organisation takes out insurance cover to address various risks, which one of the following risk management strategies is it adopting?

ATreat

BTerminate

CTolerate

DTransfer

Answer : D

Show Answer

Hide Answer

Question: 5

The expression 'consideration' means:

ABeing over 18 and being of sound mind

BSome form of valuable exchange

CBeing nice to people, in the expectation that they in turn will be nice

DTaking time to think about the gravity of the contract you may be about to be entering into

Answer : B

Show Answer

Hide Answer

Quiz 1

Please Enter Your Email

You can try More Free Quizzes or Save Time by using our Premium Questions

Check Premium Offer (Limited Time Offer)
Try Free Quizzes