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CIPS Updated L4M3 Exam Questions and Answers by presley

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CIPS L4M3 Exam Overview :

Exam Name: Commercial Contracting
Exam Code: L4M3 Dumps
Vendor: CIPS Certification: CIPS Level 4 Diploma in Procurement and Supply
Questions: 233 Q&A's Shared By: presley
Question 8

Which of the following can be considered as implied terms in a contract?

1. Case law

2. Statute

3. Trade custom

4. A term can never be implied, it must always be expressed by the parties

Options:

A.

1,3 and 4 only

B.

1, 2 and 3 only

C.

1, 2 and 4 only

D.

2, 3 and 4 only

Discussion
Question 9

MWB operates serviced offices in central London. Rock entered a contractual licence with MWB to occupy office space in Marble Arch and had accumulated licence fees in arrears. The original licence agreement contained a ‘No Oral Modification’ clause that said: 'All variations to this licence must be agreed, set out in writing and signed on behalf of both parties before they take effect'.

After 6 months, Rock director re-negotiated to extend payment period over phone call and MWB credit controller agreed his proposal. Is this agreement considered as an effective variation to the original licence agreement?

Options:

A.

Yes, because parties who agree to altering the original contract orally despite a ‘No Oral.

B.

Modification’ clause, must have intended to dispense with the clause

C.

No, because the mechanism for variation has been set out in the original contract

D.

Yes, because the credit controller had agreed with Rock director’s proposal

E.

No, because Rock director assumed that the variation was effective and convinced credit controller to believe it

Discussion
Question 10

Tony Campbell, a West Logistics Ltd (WLL) procurement manager, is working on a specification for a data storage solution. The current version of an Information Security Management standard (ISO 27001) has been identified as a suitable standard for potential suppliers to be certified to. What is the advantage to WLL of stipulating this type of standard within a product specification?

Options:

A.

It removes the requirement for quality management measures

B.

It allows the buying organisation to set the pricing for its products

C.

It ensures the suppliers control spending and pass the savings on

D.

It allows all suppliers to understand the common criteria that is required

Discussion
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Question 11

If a false statement of material fact is made by one of the contracting parties, the misled party will have remedies for:

Options:

A.

Indemnity

B.

Misrepresentation

C.

Recission

D.

Damages

Discussion
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