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L4M3 Dumps - Commercial Contracting Practice Exam Questions

CIPS L4M3 - CIPS Level 4 Diploma in Procurement and Supply Practice Exam

  • Certification Provider:CIPS
  • Exam Code:L4M3
  • Exam Name:Commercial Contracting Exam
  • Total Questions:196 Questions and Answers
  • Updated on:Jun 24, 2025
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L4M3 Question and Answers

Question # 1

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

Options:

A.  

Yes, these forms aim at balanced risk/reward allocation between the parties

B.  

No, the buyer will bear all the risks derived from the contract

C.  

Yes, using these forms will eliminate all the risks

D.  

No, the contractor won't understand the legal terminology in the contract forms

Discussion 0
Question # 2

Transformers & Rectifiers Ltd wanted to buy some specialist gaskets. They sent a request for quotation with specification to Needs Ltd. The supplier replied with a quotation in which had its own terms and conditions. The buyer edited delivery terms on the quotation and sent the document back to Needs Ltd. Gaskets were delivered to Transformers’ premise with an invoice from Needs Ltd. Which of the following is most likely to be the governing terms if the two companies must settle the dispute at court?

Options:

A.  

Edited terms and conditions

B.  

Terms and conditions in the request for quotation

C.  

Terms and conditions in the invoice

D.  

Terms & conditions in the original quotation

Discussion 0
Question # 3

To expand its operation, Steel Co. decides to build a new plant. Despite of excitement, the senior management is very concerned about the complexity and risks of such project. Hugo, the procurement manager, suggests that the company can adopt a model form of contract. What is the advantage of using model form of contract?

Options:

A.  

It shifts the balance of power in the favour of the buyer rather than the contractor

B.  

The company could avoid the need to draft a complex contract from blank

C.  

Model form of contract eliminates the need for legal advice totally

D.  

The company does not need to draft the drawings as well as specification anymore

Discussion 0

PDF vs Software Version

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With the complete collection of L4M3 practice test, Exams4sure has assembled to take you through CIPS Level 4 Diploma in Procurement and Supply test questions for your CIPS exam preparation. In this L4M3 exam dumps study guide we have compiled real Commercial Contracting exam questions with their answers so that you can prepare and pass CIPS Level 4 Diploma in Procurement and Supply exam in your first attempt.

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