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CIPS L4M3 certification exam is ideal for procurement professionals who are responsible for managing contracts, negotiating terms and conditions, and ensuring compliance with legal requirements. L4M3 exam covers a range of topics, including contract formation, contract management, risk management, dispute resolution, and contract termination. L4M3 Exam is based on a globally recognized framework, which ensures that candidates are equipped with the knowledge and skills required to manage contracts in a variety of industries and sectors.

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CIPS L4M3 exam covers a range of topics, such as the legal framework for commercial contracting, contract formation and negotiation, contract management, dispute resolution, and supplier relationship management. L4M3 exam is ideal for procurement and supply chain professionals who are looking to enhance their knowledge and skills in commercial contracting and to demonstrate their expertise to employers and clients. By passing the CIPS L4M3 Exam, professionals can demonstrate their commitment to continuous learning and development in the field of procurement and supply chain management, and improve their career prospects in this dynamic and challenging industry.

CIPS Commercial Contracting Sample Questions (Q104-Q109):

NEW QUESTION # 104
Which of the following are implied terms in sales contracts? Select THREE that apply.

Answer: A,B,E

Explanation:
Generally, under the Sale of Goods Acts (in UK, Singapore, Australia,...) or Commercial Codes (in France, Germany, Vietnam,...), the sale contracts have the following implied terms:
- the seller has the right to sell the goods. This is also a condition of the contract
- the goods are free from undisclosed security interests
- the goods supplied under the contract will be reasonably fit for any purpose which the buyer made known to the seller
- sales of unseen goods will be of merchantable quality, and match their description and conform with a sample.
- Passing of risk
- Passing of possession and title
...
Reference:
LO 3, AC 3.1


NEW QUESTION # 105
Under a framework agreement, which of the following are supplier selection mechanisms? Select TWO that apply:

Answer: B,C

Explanation:
A framework agreement is an agreement with one or more suppliers/providers which sets out terms and conditions under which individual contracts (call-offs) can be made throughout the term of the agreement.
A framework agreement itself is not a contract, but the call-offs made from it are.
Framework arrangements create a streamlined and flexible process for procuring goods, works or services Where a framework for the same goods, works or services is awarded to several suppliers, there are three possible options for awarding call-off contracts: direct award (or direct call-off), mini-competition or a combination of both.
Option 1 - Apply the terms of the framework agreement (direct award).
Where your requirements match the terms and/or specification of the framework agreement (in the event of any query, you should clarify the situation with the organisation that established the framework), a particular call-off should be awarded without re-opening competition. The call-off should be awarded to the provider who is identified as the most economically advantageous tender based on the award criteria used at the time that the framework was established (i.e. the supplier ranked no. 1). Randomly selecting a supplier off a framework is not permitted.
Option 2 - Hold a mini-competition between capable suppliers.
If your requirements do not match the terms and/or the specification of the framework, you should conduct a mini-competition exercise. Whilst it is not permitted to substantially change the basic terms or specification of the framework, in running a mini-competition it is possible to supplement or refine the basic terms of the framework prior to making a call-off. Examples of such terms are:
- The particular goods/services/works required;
- Particular delivery timescales;
- Particular invoicing arrangements and payment profiles;
- Associated services such as installation, maintenance and training;
- Quantity;
- Functional specification.
Under no circumstances should brand names or brand-specific descriptions of goods be used e.g. BIC Biro Pen, Hewlett-Packard Printer, Dell computer. Descriptions should give reference to the characteristics and outputs of the product or service. Where no other description is possible, any reference should be qualified by adding the words 'or equivalent'.
When a mini-competition exercise is held, all suppliers appointed to the framework that are capableof meeting the requirement must be invited to submit a tender. (This might just relate to suppliers within a particular
'lot'). You must not limit the mini-competition exercise to selected providers. A time limit for submitting the tender must be set and advised to competing suppliers. This time limit must be reasonable, taking account of the complexity of the requirement.
The call-off must be awarded on the basis of the framework award criteria and new criteria cannot be added, although, where permitted, the weightings may be varied to take account of a particular requirement.
However, in adjusting the weightings, care must be taken to ensure that any such changes do not have an adverse effect on competition.
Option 3 - Combination of direct award and mini-competition
To use a combination approach, the procurement documents must state that this route may be used. The procurement documents will also specify which terms may be subject to the re-opening of competition.
Reference:
- Guidance on the Use of Framework Agreements
- CIPS study guide page 60-62
LO 1, AC 1.3


NEW QUESTION # 106
An example of a qualitative performance measure could be one that relates to opinions about the service quality of the supplier. Is this correct?

Answer: B

Explanation:
Qualitative performance measures capture subjective or non-numerical aspects of service, such as customer satisfaction, perceptions, and opinions. These are often gathered through surveys or interviews. While quantitative data is crucial, qualitative insights can reveal hidden issues and improve relationship management.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.3.2 - Qualitative and quantitative performance measures.


NEW QUESTION # 107
Which of the following KPIs is qualitative?
1. Openness and co-operation of supplier
2. Responsiveness of supplier
3. Customer satisfactory ratings
4. Cost management
5. OTIF deliveries

Answer: C

Explanation:
Qualitative KPIs are based on pure opinions about how well or otherwise the goods are performing or the service is being delivered. Most often, these will be linked to, or converted into, a numerical measure. However, such satisfaction surveys often also include free fields for respondents to explain why they feel the way they do, and what they might have liked to have been different.
On the other hand, quantitative KPIs are based on numerical measure with either definite number (e.g., actual number of orders incomplete or otherwise inaccurate during the time period) or as a percentage (e.g. number of inaccurate orders as a percentage of the total number of orders).
Openness and co-operation means that supplier is open and co-operative in its relationship with purchaser, e.g., in terms of joint problem solving. This KPI is qualitative since it is measured by individual judgement.
Responsiveness of supplier means the supplier responds rapidly to requests for information and support without having to be chased. It is measured by the number of times requests chased as a percentage of number of requests. It is a quantitative KPI.
Customer satisfactory ratings means the level of customer's satisfaction. This KPI is measured by periodic survey and it is a qualitative KPI.
Cost management is another quantitative KPI. It can be measured by comparing between the actual costs and the contractual costs.
OTIF (one-time in-full) deliveries is a quantitative KPI. It can be measured by counting the inaccurate deliveries in the period or inaccurate deliveries as a percentage of total number of deliveries for period.
Reference:
LO 2, AC 2.2


NEW QUESTION # 108
Maximum Score: 1
John Jameson purchased his new car from Warrington Autos Ltd, a local car dealership. He signed the hire purchase agreement with Car Finance Services Ltd, and made the required three months payment in advance to confirm the purchase and take delivery of the car. On the day of delivery, the car was incorrectly offloaded from the transporter by Vehicle Transport Ltd and the car is a total insurance write off. Which party had title in the vehicle?

Answer: C

Explanation:
Under a hire purchase arrangement:
* The finance company (Car Finance Services Ltd) buys the vehicle from the dealer and retains legal title.
* The customer (John) only obtains title after all instalments are fully paid.
At the time of the accident, John had only paid three months in advance and therefore did not yet have title.
The dealer has already sold the car to the finance company, and the transporter is just a carrier.
So Car Finance Services Ltd (C) held title in the vehicle.
Reference: CIPS L4M3 Commercial Contracting - Transfer of title and risk - credit and hire purchase arrangements.


NEW QUESTION # 109
......

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