CIPS L3M1 Exam - Topic 1 Question 54 Discussion

Actual exam question for CIPS's L3M1 exam

Question #: 54
Topic #: 1

[All L3M1 Questions]

'Price' and 'payment terms' are the same thing.

True or false?

AFalse

BTrue

Show Suggested Answer

Suggested Answer: B

An easy question.

Price is what the customer will pay for goods or services eg fifty dollars; payment terms are the ar-rangements under which you pay the price eg in advance, on delivery, 30 days, 60 days, etc.

Although this may seem rather obvious, I have encountered a surprising number of people who seem to confuse the two.

by Eileen at Aug 15, 2026, 04:39 PM

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Refugia

4 days ago

I feel like this could be true in some contexts, but generally, they seem different. I would probably go with false.

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Joanna

9 days ago

I'm not entirely sure, but I remember a practice question that distinguished between price and payment terms. I lean towards false.

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Chun

15 days ago

I think this is false because 'price' refers to the amount charged, while 'payment terms' relate to how and when the payment is made.

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