L4M3 Exam Questions Dumps, Selling CIPS Products
L4M3 Cert Guide PDF 100% Cover Real Exam Questions
CIPS L4M3 Exam Syllabus Topics:
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NEW QUESTION 12
Which of the following are always considered as minimum preconditions for a contract? Select TWO that apply:
- A. Consideration
- B. Intention to be bound
- C. Promise
- D. Specification
- E. Omission
Answer: A,B
Explanation:
In order to form a contract to come into being, there are five conditions:
- Offer
- Acceptance
- Consideration
- Intention to be legally bound
- Capacity to contract
Reference:
LO 1, AC 1.2
NEW QUESTION 13
Which of the following are among five 'pillars' of information assurance?
1. Recovery plan
2. Availability
3. Non-repudiation
4. Governance
- A. 1 and 2 only
- B. 3 and 4 only
- C. 1 and 4 only
- D. 2 and 3 only
Answer: D
Explanation:
Information Assurance (IA)
Information Assurance (IA) is the practice of managing information-related risks and the steps involved to protect information systems such as computer and network systems. The IA transformation is a partnership that stretches across the Department of Defense (DoD), Office of National Intelligence, Committee on National Security Systems, National Institute of Science and Technology (NIST), and the Office of Management and Budget.
The US Government's definition of information assurance is:
"measures that protect and defend information and information systems by ensuring their availability, integrity, authentication, confidentiality, and non-repudiation. These measures include providing for restoration of information systems by incorporating protection, detection, and reaction capabilities." Information Assurance (IA) is essentially protecting information systems, and is often associated with the following five pillars:
- Integrity
- Availability
- Authentication
- Confidentiality
- Nonrepudiation
The following pillars can be applied in a variety of ways, depending on the sensitivity of the information, or information systems within your organization. Currently, these five pillars are used at the heart of the US Governments ability to conduct safe and secure operations in a global environment.
1. Integrity
Integrity involves assurance that all information systems are protected and not tampered with. IA aims to maintain integrity through means such as anti-virus software on all computer system, and ensuring all staff with access to know how to appropriately use their systems to minimize malware, or viruses entering information systems.
2. Availability
Availability simply means those who need access to information, are allowed to access it. Information should be available to only those who are aware of the risks associated with information systems.
3. Authentication
Authentication involves ensuring those who have access to information, are who they say they are. Ways of improving authentication involve methods such as two-factor authentication, strong passwords, bio-metrics and other devices. Authentication may also be used to not only identify users, but also other devices.
4. Confidentiality
IA involves the confidentiality of information, meaning only those with authorization may view certain data. This step is closely mirrored by the six data processing principles of the General Data Protection Regulation (GDPR), where by personal data must be processed in a secure manner "using appropriate technical and organizational measures" ("integrity and confidentiality").
5. Nonrepudiation
The final pillar simply means someone with access to your organizations information system cannot deny having completed an action within the system, as there should be methods in place to prove that they did make said action.
Reference:
- What is Information Assurance (IA)?
- CIPS study guide page 99-100
LO 2, AC 2.1
NEW QUESTION 14
The model form contract invented by Institute of Civil Engineers is...?
- A. NEC
- B. JCT
- C. FIDIC
- D. IMechE/IET
Answer: A
Explanation:
NEC - New Engineering Contracts is a family of contracts invented by Institute of Civil Engineers. The contracts are suitable for procuring a diverse range of works, services and supply, ranging from major framework projects through to minor works and the purchase of supplies and goods.
FIDIC is a French language acronym for Federation Internationale Des Ingenieurs-Conseils, which means the international federation of consulting engineers. It was started in 1913 by the trio of France, Belgium and Switzerland. The United Kingdom joined the Federation in 1949. FIDIC is headquartered in Switzerland and now boasts of membership from over 60 different countries. FIDIC published its first contract, titled The Form of contract for works of Civil Engineering construction, in 1957. As the title indicated, this first contract was aimed at the Civil Engineering sector and it soon became known for the colour of its cover, and thus, The Red Book. It has become the tradition that FIDIC contracts are known in popular parlance by the colour of their cover. This first contract by FIDIC was undertaken jointly with the International federation of Building and Public works. FIDIC's concerted effort at achieving broad consultation and acceptance of its contract forms has seen subsequent editions of its contracts being ratified by the International Federation of Asian and Western Pacific Contractors Association, Associated General Contractors of America and the Inter-American Federation of the Construction Industry, Multilateral Development Banks among others. Because of the broad support it enjoys, FIDIC contracts are the foremost contracts in international construction.
The Joint Contracts Tribunal, also known as the JCT, produces standard forms of contract for construction, guidance notes and other standard documentation for use in the construction industry in the United Kingdom. From its establishment in 1931, JCT has expanded the number of contributing organisations.
IMechE/IET: Institution of Mechanical Engineers/Institution of Engineering and Technology - two separate institutes that issue jointly agreed model forms covering the design, supply and installation of electrical, electronic and mechanical plant including special conditions for the ancillary development of software.
Reference:
LO 3, AC 3.1
NEW QUESTION 15
Which of the following should be used in a contract for window cleaning during the next three months?
- A. Fixed pricing arrangement
- B. Standard schedule of rates
- C. Variable pricing arrangement
- D. Cost-plus arrangement
Answer: A
Explanation:
A contract for window cleaning during the next three months is a short-term service contract in which changes of input costs (labour, tools,...) are very unlikely to happen.
Fixed pricing arrangement is useful for small to medium scope project, with short timelines, where what is delivered can be adequately specified and the likelihood of changes to the specification, scope and input costs is limited.
Reference:
LO 3, AC 3.3
NEW QUESTION 16
Which of the following standards gives guidance on the layout and preparation of specifications?
- A. BS 5864:2019
- B. BS 5975:2019
- C. BS 7373-1:2001
- D. BS EN 60601-1-11:2015
Answer: C
Explanation:
BS 7373-1:2001 Product specifications. Guide to preparation gives guidance on layout, preparation and management. The subject has been treated in a generic way and guidance can be used in the preparation of all types.
BS 5864:2019 is the standard for installation and maintenance of gas-fired ducted air heaters of rated heat input not exceeding 70 kW net (2nd and 3rd family gases). Specification BS 5975:2019 is the standard for code of practice for temporary works procedures and the permissible stress design of falsework.
BS EN 60601-1-11:2015 is the standard for medical electrical equipment. General requirements for basic safety and essential performance. Collateral Standard: Requirements for medical electrical equipment and medical electrical systems used in the home healthcare environment.
Reference:
- BSI website
- CIPS study guide page 90-92
LO 2, AC 2.1
NEW QUESTION 17
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. Framework agreement
- B. Spot transaction
- C. One off contract
- D. Call off contract
Answer: D
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:
LO 1, AC 1.3
NEW QUESTION 18
Which of the following should be specially noticed in market dialogue with suppliers in specification development?
- A. Both parties must respect confidentiality
- B. Market dialogue should only be conducted with well-known supplier
- C. The buying organisation must avoid social media at all cost
- D. Market dialogue is banned in the public sector
Answer: A
Explanation:
Being clear on your objectives helps you to design the best approach to the dialogue. There are some notices in developing dialogue with suppliers:
- All meetings should be documented
- Respect commercial confidentiality. Although insights gained from one conversation lead to questions in another, you must be very careful not to allow this to happen in a way that breaches the confidentiality of the first conversation.
Reference:
LO 2, AC 2.1
NEW QUESTION 19
Which of the following is the best definition of consideration in contract law?
- A. One thing given in exchange
- B. The act of thinking carefully about one thing
- C. Full statement about something to provide
- D. Formal discussion between people who are trying to reach an agreement
Answer: A
Explanation:
A simple definition of consideration is as follows - an exchange between the parties which results in a benefit to one party, and a detriment to the other. The case of Currie v Misa (1874) LR 10 Ex 153 provides an apt description of this:
"A valuable consideration, in the sense of the law, may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss, or responsibility, given, suffered, or undertaken by the other." A practical example of this can be found by examining a simple contract. Party A offers £500 to Party B, who in exchange will fit his car with a new engine. Party A receives the benefit of his car being fixed, whilst Party B incurs the detriment of having to take time, effort, and perhaps expenses to fix the car.
Reference:
- Consideration & Promissory Estoppel
- CIPS study guide page 36-40
LO 1, AC 1.2
NEW QUESTION 20
In which of the following section of a specification, requirements for training to use the equipment will be set out?
- A. Implementation
- B. Issue reference
- C. Performance
- D. Consultation requirements
Answer: A
Explanation:
Implementation is a substantive requirement which covers the following areas:
- Will there be a need to train the staff to use the equipment?
- Are there integration requirements with other systems or processes?
- How will this work?
- What are the timescales?
- Are detailed method statements required?
Consultation requirements regards to explicitness of compliance with any national or local legal requirements Reference:
LO 2, AC 2.1
NEW QUESTION 21
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. Performance management framework
- B. Exclusion of liabilities
- C. Pricing arrangement
- D. Specifications
Answer: A
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 22
A senior buyer is preparing specification for the next purchase. He intends to embed social and environmental criteria that align with his organisation's overarching strategy. Which of the following provides the social and environmental objectives that an organisation pursues?
- A. Economy of scale
- B. Economic performance
- C. Procurement Systems and Technology
- D. Organisation's CSR policies
Answer: D
Explanation:
The organisation should have an overarching strategies or policies which sets out the social and environmental objectives to be pursued via procurement and the supply chain generally. Some of these will be about the specification, but that must be tied in other aspects of the sourcing strategy. These objectives, policies and strategies can be found in corporate social responsibility policy.
Reference:
LO 2, AC 2.1
NEW QUESTION 23
Which of the following are most likely to be substantive elements of the specification of a truck? Select TWO that apply:
- A. Ethics
- B. Guarantee
- C. Abbreviation
- D. Expected lifespan
- E. Foreword
Answer: B,D
Explanation:
The key substantive elements to be included in a specification are:
- Characteristics of the product or service
- Time scale for delivery
- Response times for defects
- KPIs relating to performance and reliability
- Lifespan and durability expectations
- Documentary requirement for training/user manual and/or management information
- Any specific requirements regarding implementation
Reference:
LO 2, AC 2.1
NEW QUESTION 24
Which of the following are examples of conformance specification? Select TWO that apply:
- A. Output-focused specification
- B. Statement of work
- C. Product sample
- D. Technical drawing
- E. Outcome-focused specification
Answer: C,D
Explanation:
There are two main types of specification: performance specification and conformance specification (sometimes called prescriptive or technical specifications).
A conformance specification establishes the characteristics a commodity must possess, including details of how the commodity will be manufactured; engineering plans, drawings, or blueprints may be included. The design specification states in prescriptive terms what the potential offeror must provide to the buyer.
Conformance specifications have following features:
- Focus on inputs
- Give specific method, processes and materials
- May identify specific manufacturers or components
- The 'how' as well as the 'what'
- Ties supplier to set details
Reference:
- Public Procurement Practice: SPECIFICATIONS
- CIPS study guide page 8-10
LO 1, AC 1.1
NEW QUESTION 25
Bethy sees a coat on shop window with a $100 price tag. She comes and asks the shop owner to buy it. The owner states that the price has not been updated and the current price for the coat is $120. Bethy says the owner should honour the quoted price on window shop. Is Bethy correct?
- A. No, the owner is revoking his initial offer to sell at $100 and he is proposing new offer to Bethy
- B. Yes, $120 for a coat is extremely unreasonable and the owner's later offer therefore void
- C. No, the display on shop window is just an invitation to treat and the owner may change the price at his will
- D. Yes, the owner has made an offer by showing his product on the shop window and he must honour that offer
Answer: C
Explanation:
Based on two famous precedents, Fisher v. Bell (1961) and Pharmaceutical Society of Great Britain v. Boots Cash Chemists (1953), the display on shop window is considered as an invitation to treat. The shop owner can change the price when his customer asks to buy.
Reference:
LO 1, AC 1.2
NEW QUESTION 26
Rochdale Ltd is looking for a new IT system to automate some of its operations. In designing the specification, procurement manager supposes that it should be done solely by the IT department who have deep expertise on this matter. Is procurement manager's opinion appropriate?
- A. No, because challenging the user's demand is the role of procurement
- B. Yes, because procurement professional has no expertise in IT sector
- C. No, because designing complex specification could only be outsourced
- D. Yes, because designing complex specification would waste procurement manager's time
Answer: A
Explanation:
Procurement professionals have a role in challenging specifications. Technical experts can get things wrong and asking naive questions can be useful in bringing these to light. The challenging may include:
- Does the organisation really need these features/functions?
- With this specification, are there many available suppliers in the market?
- How many does the organisation really need?
etc
Reference:
LO 1, AC 1.1
NEW QUESTION 27
Which of the following is most likely to reduce ITT preparation time while maintaining the clarity of tendering documents?
- A. Eliminating pre-qualification stage from all tendering processes
- B. Standardising documentation whenever possible
- C. Using request for quotation
- D. Monitoring usage
Answer: B
Explanation:
One of the major disadvantages of tendering process is that it is lengthy, bureaucratic and slow. To reduce the preparation time, buying organisation can:
- Plan forward
- Standardise tendering documents (such as notices, terms and conditions,...) whenever possible
- Train procurement staff
- Write down policies for tender-waiver
Buying organisation should not eliminate the pre-qualification stage from all tendering processes. This stage is used as a filter to select the most competent suppliers for next stage in restricted tendering. To save time in this process, you can design a model questionnaire.
Reference:
LO 1, AC 1.1
NEW QUESTION 28
Which of the following is the international standard for labelling hazardous substances?
- A. GPS
- B. CODEX STAN 1-1985
- C. HSE
- D. GHS
Answer: D
Explanation:
GHS stands for the Globally Harmonized System of Classification and Labelling of Chemicals. GHS defines and classifies the hazards of chemical products, and communicates health and safety information on labels and safety data sheets). The goal is that the same set of rules for classifying hazards, and the same format and content for labels and safety data sheets (SDS) will be adopted and used around the world. An international team of hazard communication experts developed GHS.
The Global Positioning System (GPS), originally NAVSTAR GPS, is a satellite-based radionavigation system owned by the United States government and operated by the United States Space Force. It is one of the global navigation satellite systems (GNSS) that provides geolocation and time information to a GPS receiver anywhere on or near the Earth where there is an unobstructed line of sight to four or more GPS satellites. Obstacles such as mountains and buildings block the relatively weak GPS signals.
CODEX STAN 1-1985 is general standard for the labelling of packaged goods.
Environment (E), health (H) and safety (S) (together EHS) is a discipline and specialty that studies and implements practical aspects of environmental protection and safety at work. In simple terms it is what organizations must do to make sure that their activities do not cause harm to anyone.
Reference:
LO 2, AC 2.1
NEW QUESTION 29
The cost in cost reimbursable contract is...?
- A. Variable cost
- B. Fixed cost
- C. Actual cost
- D. Profit
Answer: C
Explanation:
A cost reimbursable contract (sometimes called a cost plus contract) is one in which the contractor is reimbursed the actual costs they incur in carrying out the works, plus an additional fee. Option E of the NEC3 Engineering and Construction Contract (ECC) is an example of a cost reimbursable contract.
Reference:
- CIPS study guide page 176-179
- Cost reimbursable contract
LO 3, AC 3.3
NEW QUESTION 30
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