Trusted Worldwide Questions & Answers
Most Recent CIPS L3M3 Exam Questions & Answers
Prepare for the CIPS Contract Administration exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIPS L3M3 exam and achieve success.
The questions for L3M3 were last updated on Jan 20, 2025.
- Viewing page 1 out of 18 pages.
- Viewing questions 1-5 out of 90 questions
Win-win negotiations can be described as expanding the:
This is the idea that negotiations can be of the sort which shares the (apple) pie, often aggressively and not 50/50 (win-lose); or it can seek to create additional value - expand the pie (win-win).
Which of the following would be unethical? Choose two.
Taking up suppliers' time if there is no intention to purchase from them is unethical.
Negotiating with suppliers is to be encouraged; following your line manager's instructions is general-ly regarded as being a good thing, although regarding ethical issues, one is encouraged to query.
When both buyer and seller share cost information with each other (in both directions), in order to collaborate in cost reduction activities.
Cost transparency - this requires a high trust level, as both parties open up and share information on the costs of their operations.
Open book costing is a one-way share - the seller allows the buyer to look at their actual costs.
A concise structured document showing all risks for a contract / unit / organisation, including details of nature of risk, risk owner, anticipated impact, possible responses, etc
Risk register.
A risk manual is more likely to explain risk(s), and say what should be done regarding risks.
'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'
The 'firm and unequivocal offer' and 'the basis of a contract' indicate the reference to a formal and binding tender procedure. The answer is therefore 'invitation to tender'.
Unlock All Questions for CIPS L3M3 Exam
Full Exam Access, Actual Exam Questions, Validated Answers, Anytime Anywhere, No Download Limits, No Practice Limits
Get All 90 Questions & Answers