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CIPS L3M3 Exam With Confidence Using Practice Dumps

Exam Code:
L3M3
Exam Name:
Contract Administration
Vendor:
Questions:
90
Last Updated:
Apr 26, 2025
Exam Status:
Stable
CIPS L3M3

L3M3: CIPS Level 3 Advanced Certificate in Procurement and Supply Operations Exam 2025 Study Guide Pdf and Test Engine

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Contract Administration Questions and Answers

Question 1

If your organisation takes out insurance cover to address various risks, which one of the following risk management strategies is it adopting?

Options:

A.

Treat

B.

Terminate

C.

Tolerate

D.

Transfer

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Question 2

Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:

Options:

A.

Uni form

B.

Model form

C.

Paper form

D.

Trans form

E.

Good form

Question 3

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