Free L3M3 Exam Questions - Easiest Way for Success

Prepare for the CIPS L3M3 exam questions with our authentic preparation materials, including free L3M3 practice exam questions and answers. TheExamsLab provides all the support you need to succeed in the Contract Administration (L3M3) L3M3 exam. This dedication to student success is why we have the most satisfied L3M3 certification exam candidates worldwide.

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Total 90 Questions | Updated On: Sep 12, 2024

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Question 1

A concise structured document showing all risks for a contract / unit / organisation, including details of nature of risk, risk owner, anticipated impact, possible responses, etc

A : Risk register

B : Risk manual

C : Risk analysis

D : Risk profile

Answer: A

Question 2

Goods or services which must be used together are called:

A : Complements

B : Compliments

C : Condiments

D : Substitutes

Answer: A

Question 3

A justification of an action (expenditure) that is to be taken by an organisation.

A : Business case

B : Competitive tender

C : Project management

D : Cost analysis

Answer: A

Question 4

What is the term for a situation where a seller sets a high introductory price for a new product, to attract buyers who have a strong desire to get the product early, and who can afford it? The price then gets gradually reduced over time.

A : Contribution pricing

B : Price discrimination

C : Market skimming

D : Promotional pricing

Answer: C

Question 5

The expression ‘consideration’ means:

A : Being nice to people, in the expectation that they in turn will be nice

B : Being over 18 and being of sound mind

C : Some form of valuable exchange

D : Taking time to think about the gravity of the contract you may be about to be entering into

Answer: C

Page: 1 / 18

Total 90 Questions | Updated On: Sep 12, 2024

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