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CIPS L3M1 Exam - Topic 2 Question 29 Discussion

A 'firm price' and a 'fixed price' are the same thing.True or false?
A) True
B) False

CIPS L3M1 Exam - Topic 2 Question 29 Discussion

Actual exam question for CIPS's L3M1 exam
Question #: 29
Topic #: 2
[All L3M1 Questions]

A 'firm price' and a 'fixed price' are the same thing.

True or false?

Show Suggested Answer Hide Answer
Suggested Answer: D

The correct answer is to provide services. However, some other secondary factors may come into play. For example, some public sector organisations may be encouraged to boost national prestige eg airports, airlines; or they may be used as job creation schemes.


by Kathrine at Jan 24, 2025, 01:25 AM

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Tawna
7 months ago
I thought they meant the same thing!
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Katina
8 months ago
Firm price can change, fixed price can't.
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Katie
8 months ago
Wait, are they really not the same?
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Erasmo
8 months ago
Totally agree, it's false!
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Kimbery
8 months ago
They're actually different terms.
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Chaya
9 months ago
I’m confused because they sound similar, but I think there’s a distinction. I might go with false, but I’m not completely confident.
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Susy
9 months ago
I recall a practice question where 'firm price' was used in a bidding context, and 'fixed price' was more about contracts. Could be false?
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Mohammad
9 months ago
I’m not entirely sure, but I feel like we discussed this in class. I think they might be different in terms of contract terms.
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Delisa
9 months ago
I think I remember that a 'firm price' might have some flexibility, while a 'fixed price' is more rigid. So, I’m leaning towards false.
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Francesco
9 months ago
I'm confident that 'firm price' and 'fixed price' refer to the same concept, so I'm going to mark True on this one. Seems like a pretty easy question.
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Beckie
9 months ago
Wait, I think there might be a subtle difference between 'firm price' and 'fixed price' that I'm forgetting. Better double-check my notes before selecting an answer.
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Stephaine
9 months ago
Okay, I've seen these terms used interchangeably in my readings, so I'm going to go with True. Seems like a straightforward question.
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Jacinta
9 months ago
Hmm, I'm not 100% sure about the difference between 'firm price' and 'fixed price'. I'll have to think this through carefully before answering.
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Felix
9 months ago
I'm pretty sure a 'firm price' and a 'fixed price' are the same thing, so I'll go with True on this one.
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Curtis
1 year ago
The answer is clearly False. Firm price and fixed price? That's like asking if a 'Bazinga' and a 'Bazoodle' are the same thing. *scoffs*
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Reita
1 year ago
Yeah, firm and fixed are two different things for sure.
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Arleen
1 year ago
I agree, they are definitely not the same.
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Rupert
1 year ago
False
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Galen
1 year ago
This is easy, the answer is False. Everyone knows firm price and fixed price are different, right? Or am I missing something here?
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Tu
1 year ago
Hmm, I'm not entirely sure about this one. I better review my notes on pricing terminology before attempting to answer.
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Sue
1 year ago
B) False
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Aleisha
1 year ago
I think they are the same thing.
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Charlene
1 year ago
A) True
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Rebecka
1 year ago
False, definitely false. Firm price and fixed price have distinct meanings in contract law and procurement. This is a trick question!
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Jimmie
1 year ago
B) False
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Lenita
1 year ago
I agree, false. A firm price is subject to adjustment, while a fixed price remains constant.
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Eulah
1 year ago
B) False
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Kanisha
1 year ago
A) True
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Alecia
1 year ago
I think it's false too. A 'firm price' is more flexible than a 'fixed price'.
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Dorsey
1 year ago
I agree with Brent. A 'firm price' and a 'fixed price' have different meanings.
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Lavina
1 year ago
I'm pretty sure a 'firm price' and a 'fixed price' are not the same thing. I'll have to look into the differences between the two.
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Jamal
1 year ago
B) False
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Nan
1 year ago
No, they are not the same thing.
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Rosio
1 year ago
A) True
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Brent
1 year ago
False. They are not the same.
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