Free CIPS L4M3 Exam Dumps Questions & Answers

Which of the following is the procedure that makes no further competition under a framework agreement?

• A.Blanket order
• B.Direct call-off
• C.Closed system
• D.Standing offer

The cost in cost reimbursable contract is...?

• A.Fixed cost
• B.Variable cost
• C.Profit
• D.Actual cost

Maximum Score 1
A purchase order has been raised for £5,000. It allows the user department to order items of a £50 value when they need them. This is an example of what type of order?

• A.Call-off
• B.Stand-off
• C.Shut-off
• D.Straight-off

Which of the following would be considered as advantages of an industry model form contract?
It provides greater flexibility for negotiation
It reduces the cost of contract development
It is usually designed to be fair to both parties
It removes the need for the buyer to understand it

• A.1 and 2 only
• B.2 and 3 only
• C.2 and 4 only
• D.1 and 3 only

Which of the following approaches could a purchasing organisation use to reduce the level of detail in a specification, without increasing the risk of an unsuccessful procurement process?
Increase the use of acronyms and abbreviations
Cross-refer to recognised industry standards
Require tendering suppliers to propose specifications
Provide samples to demonstrate the requirements

• A.1 and 4 only
• B.2 and 3 only
• C.2 and 4 only
• D.1 and 3 only