Page: 1
/
18
Total 90 questions
Curious about Actual CIPS Level 3 Advanced Certificate in Procurement and Supply Operations (L3M3) Exam Questions?
Here are sample CIPS Contract Administration (L3M3) Exam questions from real exam. You can get more CIPS Level 3 Advanced Certificate in Procurement and Supply Operations (L3M3) Exam premium practice questions at TestInsights.
Question 1
A common term for the win-lose style of negotiations is:
Correct : D
Distributive: at the other end of the spectrum from 'collaborative'.
Start a Discussions
Submit Your Answer:
Question 2
Which STEEPLE factor deals with issues of foreign exchange rates, inflation, consumer spending, labour costs and unemployment levels?
Correct : A
Economic.
I think foreign exchange at least couldn't fit into any other STEEPLE factor, so that's a clincher and it has to be 'economic'.
Start a Discussions
Submit Your Answer:
Question 3
Which of the following would not normally be included in a whole life cost calculation?
Correct : B
Cost of setting up the tender which is not a cost of the item itself.
All the other costs are related to the item itself.
Start a Discussions
Submit Your Answer:
Question 4
What is the name given to costs which do not vary as activity levels in a business increase or de-crease?
Correct : D
The answer is fixed costs. Their counterpart are variable costs, which do vary as business activity increases or decreases.
Direct and indirect costs are a different method of categorizing costs within an organisation.
Start a Discussions
Submit Your Answer:
Question 5
The price at which suppliers wish to sell and buyers wish to buy; and the market clears, is called the
Correct : B
Equilibrium price.
The closing price is the price at the end of the day when the market closes.
The other 'prices' shown are nonsense.
Start a Discussions
Submit Your Answer:
All Official Question Types