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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:
Dec 22, 2024
Exam Status:
Stable
CIPS L5M3

L5M3: CIPS Level 5 Advanced Diploma in Procurement and Supply Exam 2024 Study Guide Pdf and Test Engine

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Managing Contractual Risk Questions and Answers

Question 1

Kranky Kat Ltd has just been through an adjudication process with a supplier it worked with who committed a breach in the contract. Kranky Kat is not happy with the outcome of the adjudication, what can Kranky Kat do?

Options:

A.

move on to litigation

B.

appeal the decision

C.

nothing - the decision made by the adjudicator is binding

D.

nothing - the decision made by the adjudicator is legally enforceable

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Question 2

Which of these statements about mediation is true? Select TWO

Options:

A.

mediation is flexible

B.

mediation produces legal precedents

C.

mediation can be used as a stalling tactic

D.

mediation is expensive

E.

mediation involves a third party who makes a judgement on the issue

Question 3

Which of the following would not be considered a contract? Select TWO

Options:

A.

A written agreement between two robbers to rob a bank which states that the money gained would be split evenly between the two.

B.

a domestic agreement between two parents about who will pick the kids up from school

C.

a phone call between a supplier and buyer in which the buyer agrees to purchase 100 teddy bears from the supplier for £100.

D.

a written document in which Paul agrees to clean Freda's house for £10

E.

an email chain between a buyer and supplier which includes a PO and Invoice