CIPS L3M3 Exam - Topic 1 Question 5 Discussion

Actual exam question for CIPS's L3M3 exam

Question #: 5
Topic #: 1

[All L3M3 Questions]

Where the supplier guarantees to make good any losses suffered by the buyer as a result of product defects, for example

AInsurance

BIndebtedness

CIndemnity

DDouble indemnity

Show Suggested Answer

Suggested Answer: C

Indemnity.

As in 'an indemnity clause'.

'The supplier hereby indemnifies the buyer against / in the event of...'

by Rolland at Mar 20, 2024, 02:13 PM

Limited Time Offer

25%

Off

Get Premium L3M3 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Irma

9 months ago

Indebtedness doesn't fit at all, that's about owing money.

upvoted 0 times

...

Jolene

9 months ago

Double indemnity? I thought that was just a movie term!

upvoted 0 times

...

Gerald

10 months ago

Wait, are we sure it's not insurance? Seems similar.

upvoted 0 times

...

Azzie

10 months ago

Totally agree, indemnity is the right term here!

upvoted 0 times

...

Vivan

10 months ago

It's definitely C, indemnity covers losses from defects.

upvoted 0 times

...

Roy

10 months ago

Double indemnity sounds familiar, but I can't recall if it applies here. I might lean towards C as well.

upvoted 0 times

...

Rene

11 months ago

I practiced a similar question last week, and I think indemnity was the term used for covering defects. So, C seems right.

upvoted 0 times

...

Vilma

11 months ago

I'm not entirely sure, but I remember something about insurance covering losses too. Could it be A?

upvoted 0 times

...

Rickie

11 months ago

I think the answer might be C, Indemnity, since it relates to compensating for losses.

upvoted 0 times

...

Krystina

11 months ago

Insurance seems like it could be a reasonable answer too, since the supplier is essentially providing coverage for the buyer. But indemnity feels like the more precise term here.

upvoted 0 times

...

Dean

11 months ago

Hmm, I'm a bit unsure here. I know indemnity has something to do with compensation, but I'm not totally confident that's the right choice. I'll have to think this through carefully.

upvoted 0 times

...

Howard

11 months ago

This question seems straightforward. The supplier guaranteeing to make good any losses points to indemnity as the correct answer.

upvoted 0 times

...

Jesusita

11 months ago

Okay, I think I've got it. The supplier is promising to cover any losses, so that's an indemnity. Simple enough, I just need to remember the definition.

upvoted 0 times

...

Karma

11 months ago

I'm not entirely sure about this one, but I think it might be Entity Rules since that seems like the most logical option when changing a service template.

upvoted 0 times

...

Heike

11 months ago

Okay, I think I've got this. Penetration testing is the right answer because it's focused on identifying potential failures in the IT system's security controls from the viewpoint of a threat actor.

upvoted 0 times

...