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CIPS L3M3 Exam Questions
- Topic 1: Know the administrative content and key tasks associated with commercial contracts Identify types of contracts and agreements: As a procurement professional preparing for the CIPS L3M3 Exam, you will gain a comprehensive understanding of the key administrative elements involved in managing commercial contracts. Mastering this topic will enable you to efficiently handle contract-related tasks, ensuring compliance and smooth contract execution.
- Topic 2: Understand how to achieve competitive pricing and the role of negotiation in procurement and supply: This topic will equip you with the skills to compare competition effectively to obtain price quotations. You will learn how to recognize and leverage the critical role of commercial negotiations within procurement and supply. By understanding various approaches to negotiating competitive prices, you will be well-prepared to handle real-world procurement scenarios and excel in your L3M3 exam.
- Topic 3: Know how effective tendering is achieved: This topic will guide you through the initial actions and processes involved in tendering. You will learn to describe the essential documentation and content required at the start of the tender process, which is vital for successful tender management. Additionally, you will explore the tender evaluation and acceptance process, along with relevant regulations that may affect tendering.
- Topic 4: Understand how to measure contract performance: This topic covers the use of data to gauge performance. Aspiring procurement professionals will learn about Key Performance Indicators (KPIs), which are crucial for assessing and managing contract outcomes. Additionally, they will explore different types of contractual risks and strategies for managing them.
Free CIPS L3M3 Exam Actual Questions
Note: Premium Questions for L3M3 were last updated On Aug. 29, 2025 (see below)
Transfer of the rights and obligations of a contract onto a third party, is called:
Essentially the contract is now between two different parties because one party has assigned the contract to someone else.
It's always a good idea to check whether this is permitted under a contract, otherwise you might finish up doing business with someone you didn't plan to do business with.
In which quadrant of a SWOT analysis would 'well-developed management skills, unique intellec-tual property rights and sound financial backing' appear?
Strengths.
Win-win style negotiations are said to be:
Win-win negotiations require a collaborative approach.
Which one of the following is from the STEEPLE framework?
Socio-cultural. The only 'S' in the framework.
When negotiating, it is highly desirable to have both a:
Best alternative to a negotiated agreement; and a zone of potential agreement.
The other terms shown are just fictions.
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