Exam (elaborations)
CIPS L4M3 (Commercial Contracting) EXAM QUIZ AND ANSWERS
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CIPS L4M3 (Commercial Contracting) EXAM QUIZ AND ANSWERS
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CIPS L4M3 (Commercial Contracting) EXAMQUIZ AND ANSWERS
What requirements might a buyer want from a supplier as reassurance
about its reliability as a condition for placing the supplier on the buyers
list of approved or preferred supplier?
Correct Answer -Certification of the supplier under an approved quality
standard
Which of the following is a potential advantage of standardization of
procured items?
Correct Answer -Lower costs
What environmental specification might a buyer wish to include in a
procurement order?
Correct Answer -Certification under ISO 14001, recyclable materials for
packaging, supplier compliance with laws and regulations on the
environment
Which one of the following performance criteria is least likely to be
included as a key performance indicator in a procurement contract for a
framework engagement
Correct Answer -Satisfactory ratings
Which one of the following KPIs is more likely to be included in a FW
agreement than in a contract for a one of purchase?
Correct Answer -Percentage of OTIF deliveries
Which one of the following might be used by a buyer in a long term
service contract as an incentive for the supplier to comply with the
, requirements of the service level agreement.
Correct Answer -Service credits
Which of the following requirements might be included in a service level
agreement as required performance levels for quality of service
Correct Answer -Number of grades of individuals providing the service,
time to complete service jobs and speed of response
Which of the following issues might be covered by an implied term in a
contract when there is no express terms?
Correct Answer -Fitness for purpose, time for performance and goods to
correspond to descriptions
A company is planning a major procurement contract that will involve the
issue of ITTs a bidding process and negotiations with the selected
bidder. When will be the best time to indicate the express terms it would
like to include in the contract
Correct Answer -When the ITTs are issued
Which of the following are benefits of using standard T&Cs in a
procurement contract?
Correct Answer -Economic efficiency and they reduce the risk of
omissions
How is a model form contract used in agreeing the T&Cs for a contract?
Correct Answer -As a template at the start of negotiations
A buyer and supplier have agreed a contract term whereby the supplier
undertakes to compensate the buyer for any loss suffered by the buyer as
a consequence of negligence or breach of contract by the supplier. Which
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