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CIPS L4M3 Exam is an essential qualification for procurement professionals who want to advance their careers in the field of commercial contracting. L4M3 exam is recognized globally and is highly respected by employers in industries such as manufacturing, construction, and services. Procurement professionals who pass the exam will have a competitive advantage in the job market and will be well-positioned to take on more senior roles in their organizations.

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The CIPS L4M3 exam covers a broad range of topics related to commercial contracting, including contract formation and negotiation, contract management, contract performance monitoring, and dispute resolution. It also includes questions related to legal and regulatory compliance, ethics, and risk management. L4M3 Exam is designed to test both theoretical knowledge and practical application of commercial contracting concepts, and requires candidates to demonstrate their ability to analyze and solve complex contracting problems.

CIPS Commercial Contracting Sample Questions (Q92-Q97):

NEW QUESTION # 92
Which of the following should be done by procurement professionals right after obtaining a pre-written specification for a critical item so that the added value will be the greatest?

A. Evaluate tender or quotation
B. Challenge the used specification
C. Issue invitation to tender or request for quotation
D. Select the best supplier

Answer: B

Explanation:
A previously used specification must always be robustly challenged to see how well it fits the proposed circumstances. Aspects which appear not to fit should be analysed to understand why they were included in the sample specification and whether this changes the view on whether or not they should be omitted or changed.
Reference: CIPS study guide page 80
LO 2, AC 2.1

NEW QUESTION # 93
SFO procurement manager sent a request for quotation to Vogon International in which he determined the contract terms and specification. In SFO's standard terms and conditions, it is stated that 'Goods shall be delivered and Services performed by the applicable Delivery Date. Supplier must notify Buyer 3 days prior to the Delivery Date if Supplier is likely to be unable to meet a Delivery Date.' Vogon replied with a quotation without any amendment to SFO's terms & conditions. The SFO procurement manager found the prices were reasonable and submitted to senior management. Senior management team accepted that quotation and sent a notification to Vogon. On the Delivery Date, Vogon said they had no capacity to supply the product as the quotation due to a workers' strike. Did Vogon breach any agreement with SFO?

A. Yes, because the contract was formed since Vogon had sent the quotation as an acceptance to SFO's offer
B. No, because Vogon had no intention to be bound by the quotation, therefore, it didn't constitute a contract
C. No, because the strike is a force majeur event, so Vogon did not breach any contract with SFO
D. Yes, because the contract had been formed between SFO and Vogon with the quotation as an offer and the notification as an acceptance

Answer: D

Explanation:
SFO issued an RFQ with defined terms and condition and detailed specification. This RFQ can be considered as an invitation to treat. Vogon's quotation is an answer to the purchaser's RFQ and is an offer to SFO. The contract come to life at the time Vogon received the notification from SFO senior management.
The strike may be a force majeur event, depending on the contract particular clauses and jurisdiction. In common law countries, force majeur is applicable as an exclusion of liability only if the contract allows it. In many civil law countries, force majeur is an implied term. But in every jurisdiction, force majeur is only a reason for excluding liability for non-performance of a contract. In other words, the non-performance party is not liable for any breach if force majeur event occurs but the event does not exclude the breach.
LO 1, AC 1.2

NEW QUESTION # 94
Royal Naval Hospital at Rockstown, Anyport manages a fleet of nine ambulance vehicles. During busy periods, it becomes very difficult to keep track of the location of each ambulance (and the nature of their journey). Continual problems lead to the proposal for a new control system (ERNS).
For this ERNS project, the procurement department has drafted a specification in which only a bullet point list of basic requirements was written down. The procurement manager understands that the specification should be developed more specifically but a cross functional team from the Hospital could not do that. A senior buyer suggests that some of Hospital's pre-qualified suppliers could support them in developing the specification.
Which of the following should be a priority approach of procurement department in developing dialogue with those suppliers about specification development?

A. General networking
B. Request for quotation from the suppliers
C. One-to-one meeting with the suppliers
D. Internal discussion

Answer: C

Explanation:
The procurement team has drafted basic requirements in the specification. They will need to develop it further and more specific. Developing market dialogue with supplier is a good solution. There are number of approaches which can be taken to engage with suppliers:
- General meetings: buyer meets supplier at a networking event (such as trade show) or social media. These discussions are unlikely to deliver very specific information.
- One-to-one meetings: This will be most likely to deliver direct input into specification development and supplier-specific product development information.
- Group visits
- Meet-the-buyer events
- Formal negotiations or competitive
The answer for this QUESTION should be One-to-one meeting.
Reference:
LO 2, AC 2.1

NEW QUESTION # 95
EAC Facilities Management is planning for a new construction project in the suburban are a. They decide to use NEC or FIDIC model form of contract for this project. Is this a right course of action?

A. No, the contractor won't understand the legal terminology in the contract forms
B. Yes, these forms aim at balanced risk/reward allocation between the parties
C. No, the buyer will bear all the risks derived from the contract
D. Yes, using these forms will eliminate all the risks

Answer: B

Explanation:
Construction procurement is particularly complex and risky. Forming a contract in construction may take lots of time and energy of both client and contractor. Therefore, standardisation in construction contract would help the buying organisation to save their precious resources. Furthermore, the wording of these model form contracts is accurate as it has been agreed among the professionals within an industry.
One of the advantage of using model forms of contract is the balanced of risk and reward allocation between the contractor, consultant engineer and the client.
Reference:
- An Introduction to FIDIC model contracts
- CIPS study guide page 139-147
LO 3, AC 3.1

NEW QUESTION # 96
A purchase order can become a contract between supplier and purchaser if it is...?

A. Received by the supplier
B. Accepted by the supplier
C. Issued by the buyer
D. Edited by the supplier

Answer: B

Explanation:
A purchase order is a document sent from a buyer to a seller, with a request to order a product. The purchase order often has its number, description and quantity of the goods, unit prices and total price, name of issuer, time of delivery, standard terms and conditions, etc. It is effectively an offer to supplier. The purchase order will become a formal contract if supplier accepted it by written notice or by performance (such as deliver the goods to the buyer's premise).
Reference:
LO 1, AC 1.2

NEW QUESTION # 97
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CIPS Commercial Contracting Sample Questions (Q92-Q97):

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