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Successful completion of the CIPS Commercial Contracting course leads to the award of the CIPS level 4 management of commercial contracts (L4M3) qualification. This internationally recognized qualification is highly valued by employers looking for procurement and supply chain professionals who can manage complex commercial contracts effectively. The CIPS L4M3 qualification represents a significant achievement in a procurement professional's career and it is a clear indicator of their ability to manage commercial contracts effectively. The knowledge and skills gained through the course can be applied to a broad range of industries, including manufacturing, retail, construction, and healthcare.

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New L4M3 Exam Pattern: 2025 CIPS Realistic New CIPS Commercial Contracting Exam Pattern Pass Guaranteed Quiz

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CIPS Commercial Contracting Sample Questions (Q173-Q178):

NEW QUESTION # 173
Which of the following should be done by procurement professionals right after obtaining a pre-written specification for a critical item so that the added value will be the greatest?

A. Issue invitation to tender or request for quotation
B. Evaluate tender or quotation
C. Select the best supplier
D. Challenge the used specification

Answer: D

Explanation:
A previously used specification must always be robustly challenged to see how well it fits the proposed circumstances. Aspects which appear not to fit should be analysed to understand why they were included in the sample specification and whether this changes the view on whether or not they should be omitted or changed.
Reference:
LO 2, AC 2.1

NEW QUESTION # 174
A construction company is undertaking a housing development project. They need lots of bricks and other building materials, but the construction site doesn't have large area for storage of materials.Therefore, the company's suppliers must deliver the building materials with fixed quantity and at fixed time intervals. What type of contract is used between the construction company and its suppliers?

A. One off contract
B. Framework agreement
C. Call off contract
D. Spot transaction

Answer: C

Explanation:
In the scenario, the contract between the company and its suppliers is continuous rather than one-off. So it cannot be one-off contract or spot purchase. The quantity and time is well known and fixed, this type of contract is known as call-off contract or blanket order.
Reference: CIPS study guide page 63-64
LO 1, AC 1.3

NEW QUESTION # 175
Since services are intangible, so KPIs for services must be qualitative in all circumstances. Is this statement correct?

A. Yes, quantitative KPIs are limited to timeliness of supply of goods, defective rates and in-full quantities, which are applied to monitor supplier of physical goods
B. No, KPIs for services must always be quantitative so that they can be measured easily
C. Yes, the only measure mattered to supply of services is end-users' satisfaction
D. No, some KPIs for services are measurable by means of outcome, time and space performed

Answer: D

Explanation:
KPIs are used to monitor supplier's performance. They can be qualitative or quantitative. Of course, service providers can be monitored by quantitative KPIs regarding the outcome achieved (such as uptime in IT contracts), timeliness of deliveries (such as in construction contracts)...
Reference:
LO 2, AC 2.2

NEW QUESTION # 176
An example of a qualitative performance measure could be one that relates to opinions about the service quality of the supplier. Is this correct?

A. Yes, this is often how satisfaction is measured
B. Yes, this will relate to the actual number of complaints received
C. No, this type of measure will relate to the number of incomplete deliveries
D. No, this will relate to how much prices have increased by

Answer: A

Explanation:
Qualitative performance measures capture subjective or non-numerical aspects of service, such as customer satisfaction, perceptions, and opinions. These are often gathered through surveys or interviews. While quantitative data is crucial, qualitative insights can reveal hidden issues and improve relationship management.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.3.2 - Qualitative and quantitative performance measures.

NEW QUESTION # 177
If service level agreement is used as a schedule that makes up the contract, it will be most likely to be a part of...?

A. Exclusion of liabilities
B. Specifications
C. Pricing arrangement
D. Performance management framework

Answer: D

Explanation:
If a service level agreement is used as a schedule to a contract, it will generally have the following contents:
- Service definitions. If the service information is provided by the specification, SLA should only refer to the specification to avoid any inconsistencies.
- Details on how to measure KPIs, who will measure KPIs
- Minimum requirements or targets
- Remedies if the minimum requirements are not met
...
Since SLA often lists out the KPI targets, consequences for not meeting the KPI targets and remedies to situation of poor performance, it is a part of performance management.
Reference:
LO 2, AC 2.2

NEW QUESTION # 178
......

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