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CIPS L5M3 Exam With Confidence Using Practice Dumps

Exam Code:
L5M3
Exam Name:
Managing Contractual Risk
Vendor:
Questions:
120
Last Updated:
Apr 27, 2025
Exam Status:
Stable
CIPS L5M3

L5M3: CIPS Level 5 Advanced Diploma in Procurement and Supply Exam 2025 Study Guide Pdf and Test Engine

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Managing Contractual Risk Questions and Answers

Question 1

Verity Fashion is a clothing manufacturer and has an order to create 10,000 pairs of flipflops for a retailer for the summer. The order was placed over the phone in February. The order has been completed and has been boxed up ready for delivery. The retailer calls Verity Fashion in June and says that the order is no longer required. What action can Verity Fashion take?

Options:

A.

sue for damages as the flip flops have already been made and this incurred costs

B.

nothing- there is no written contract in place

C.

subcontract the manufacturing of the flipflops to a third party

D.

claim on insurance

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Question 2

A breach which is so severe that it goes to the root of the contract is known as what?

Options:

A.

fundamental breach

B.

condition breach

C.

major breach

D.

essence breach

Question 3

A large financial organisation ensures that they have contracts with all of their suppliers. In which instance would indemnity not necessarily form part of the contract?

Options:

A.

A Deed of Appointment of a Consultant

B.

In assignment of intellectual property rights

C.

A software licence agreement

D.

A confidentiality agreement