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CIPS Updated L3M3 Exam Questions and Answers by zachariah

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CIPS L3M3 Exam Overview :

Exam Name: Contract Administration
Exam Code: L3M3 Dumps
Vendor: CIPS Certification: CIPS Level 3 Advanced Certificate in Procurement and Supply Operations
Questions: 90 Q&A's Shared By: zachariah
Question 8

A sum of money credited to a buyer by a seller in recognition of a large volume of purchases bought throughout the previous year might be called a:

Options:

A.

Retrospective rebate

B.

Vendor debit

C.

Historic refund

D.

Retrospective reward

Discussion
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Question 9

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:

Options:

A.

Punitive damages clause

B.

Liquidated damages clause

C.

Penalty clause

D.

Unliquidated damages clause

Discussion
Question 10

Which one of the following could not be classed as a form of performance specification?

Options:

A.

Functional

B.

Outcome-focused

C.

Output-based

D.

Input-driven

Discussion
Question 11

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

Options:

A.

zero sun game

B.

someone game

C.

win some gain

D.

zero sum game

Discussion
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