CIPS L4M3 Questions & Answers - in .pdf
- Total Q&A: 235
- Update: Oct 14, 2026
- Price: $59.99
- Vendor: CIPS
- Exam Code: L4M3
- Exam Name: CIPS Commercial Contracting
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CIPS L4M3 Exam Syllabus Topics:
| Topic | Details |
|---|
| Topic 1 | - Ethical and Responsible Sourcing (L4M4): This module targets Compliance Specialists and focuses on responsible supplier selection. It looks into sourcing options, financial evaluations, pre-contract activities, award criteria, and the importance of sustainability, governance, and ethical considerations, both domestically and internationally. Learners also explore audit mechanisms and environmental strategies.
|
| Topic 2 | - Procurement and Supply in Practice (L4M8): For Procurement Specialists, this capstone module consolidates all other units, applying theory to real workplace settings. Learners demonstrate the full procurement cycle, from pre- to post-contract phases, supplier performance measurement, whole-life costing, and ESG (environmental, social, governance) practices across industries and sectors.
|
| Topic 3 | - Commercial Contracting (L4M3): Aimed at Contract Managers, this module explores the legal and structural elements of formal contracts. It includes content on contract types, specifications, key clauses, KPIs, pricing methods, and risk areas in contract law. It helps learners understand the legal foundation required for clear and enforceable agreements with suppliers.
|
| Topic 4 | - Supplier Relationships (L4M6): Designed for Vendor Relationship Officers, this unit investigates supply chain relationship models and the tools needed to build strong partnerships. Learners explore competitive influences, team dynamics, stakeholder management, conflict resolution, and reasons partnerships fail. It emphasises trust, communication, and performance review processes.
|
Reference: https://www.cips.org/qualifications/diploma-in-procurement-supply/commercial-contracting/
CIPS Commercial Contracting Sample Questions:
Question #1
Which of the following are typically included in an SLA? Select TWO that apply:
A. Code of conduct
B. Product's lifespan
C. Requirements for packaging
D. Service definition
E. KPI detailsCorrect)
Question #2
Which of the following regulates barriers to the trade of goods between Member States of WTO?
A. TRIPS
B. NAFTA
C. CISG
D. GATT
Question #3
GPP, the employer, and Prosolia UK, the contractor, entered into five EPC contracts for the development of five different solar power generation plants in the United Kingdom. Four out of the five developments failed to be commissioned by the relevant due dates, with the delays ranging from 44 to 285 days.
Among other claims, GPP, acting through its two investment vehicles, claimed liquidated damages of £500 per day in all four contracts for Prosolia UK's failure to achieve completion of the plants by the due date. The liquidated damages claimed amounted to £1,804,221 across the four delayed contracts.
Prosolia, alongside various other defences, raised the defence that the liquidated damages provision in each contract was a penalty, and therefore unenforceable against it. Is Prosolia contractually obliged to make the payment to the plaintiff?
A. Yes, the amount is a reward to the employer as they have supervised and monitored the projects
B. No, the clause must be treated as a penalty clause which is unenforceable in UK
C. No, the amount claimed is too excessive and it may put Prosolia into insolvency. The clause must be void
D. Yes, the clause is a genuine estimate of possible losses that GPP may have suffered and therefore, it is enforceable.
Question #4
Ellie is a junior buyer and her supplier asks her to use their contract terms for an order. Which of the following are clauses that may be included in the supplier contract that could pose a risk to Ellie's business?
Select TWO that apply.
A. If the contract includes supplier contact details
B. If the contract includes exclusion clauses
C. If the contract includes a price escalation clause
D. If the contract includes a cash discount for early payment
E. If the contract lists the full specification
Question #5
A procurement manager is setting KPIs measurement for user satisfaction. He also wants to encourage users to share the reason why they feel the way they do. Which of the following types of KPI should the procurement manager apply?
A. Quantitative measure
B. Numerical measure
C. Binary measure
D. Qualitative assessment
Solutions:
Question #1
Correct Answer: D,E | Question #2
Correct Answer: D | Question #3
Correct Answer: D | Question #4
Correct Answer: B,C,E | Question #5
Correct Answer: D |
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