100% PASS QUIZ 2025 L4M3: CIPS COMMERCIAL CONTRACTING–TRUSTABLE LATEST EXAM DURATION

100% Pass Quiz 2025 L4M3: CIPS Commercial Contracting–Trustable Latest Exam Duration

100% Pass Quiz 2025 L4M3: CIPS Commercial Contracting–Trustable Latest Exam Duration

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CIPS Commercial Contracting Sample Questions (Q130-Q135):

NEW QUESTION # 130
Which of the following regulates barriers to the trade of goods between Member States of WTO?

  • A. CISG
  • B. GATT
  • C. TRIPS
  • D. NAFTA

Answer: B

Explanation:
- The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis."
- CISG is the Vienna Convention on Contracts for the International Sale of Goods. This is a voluntary treaty under United Nations Commission on International Trade Law (UNCITRAL). The purpose of the Vienna Convention is to set out a framework for international transactions based on a uniform approach. It establishes substantive rules that regulate the duties and obligations of both parties, including the delivery of goods, contract formation, and remedies for breach of contract.
- The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international legal agreement between all the member nations of the World Trade Organization (WTO). It sets down minimum standards for the regulation by national governments of many forms of intellectual property (IP) as applied to nationals of other WTO member nations.
- The North American Free Trade Agreement (NAFTA; Spanish: Tratado de Libre Comercio de America del Norte, TLCAN; French: Accord de libre-echange nord-americain, ALENA) is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.
Reference: CIPS study guide page 65-67
LO 1, AC 1.3


NEW QUESTION # 131
Maria is working on a new one-off construction project and is looking to expand a factory. A requisition comes through for an outright purchase of a digger. Maria changes this to a lease order instead. Is she right to do so?

  • A. No, buyers should not challenge or change a requisition
  • B. No, diggers are not allowed to be leased
  • C. Yes, this saves money and the business will not end up with an unwanted asset
  • D. Yes, equipment should always be leased and never purchased

Answer: C

Explanation:
For short-term or one-off projects, leasing equipment is often more cost-effective than purchasing. It reduces the financial burden of asset ownership, such as depreciation and maintenance, especially if the equipment is not needed beyond the project's scope. Maria's decision aligns with sound procurement and asset management practices.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.1.1 - Fixed, unit rate, cost plus and leasing arrangements.


NEW QUESTION # 132
As part of a long-term contract, a buyer may wish to use separate service level agreements (SLAs). If the targets are not met, which of the following options would compensate the purchaser?

  • A. Service credits
  • B. Service schedules
  • C. Service guarantees
  • D. Service standards

Answer: A

Explanation:
Service credits are financial compensations provided to the buyer when the supplier fails to meet the agreed- upon service levels outlined in the SLA. They serve as a remedy for underperformance. Service guarantees are commitments to meet certain standards, service standards define the expected level of service, and service schedules outline the timing of service delivery, but none directly compensate the buyer for service failures.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 2, Section 2.2.2 - The use of service level agreements (SLAs).


NEW QUESTION # 133
Which of the following should be applied when measuring frequency of on-time deliveries during a contract period?

  • A. Qualitative assessment
  • B. Numerical measure
  • C. Subjective measure
  • D. Binary measure

Answer: B

Explanation:
Number of on-time deliveries can be quantified, then numerical measures can be applied.
Frequency of on-time deliveries is measured as on-time deliveries as a percentage of total no. of deliveries for period.
LO 2, AC 2.2


NEW QUESTION # 134
What pricing arrangements or schedule would be used if the buyer is operating to an exact budget?

  • A. Cost-plus pricing arrangement
  • B. Fixed pricing arrangement
  • C. Incentivised pricing arrangement
  • D. Indexation pricing arrangement

Answer: B

Explanation:
A fixed pricing arrangement means the buyer and supplier agree on a set price that does not change regardless of market fluctuations or production costs. This gives the buyer full cost certainty, which is essential when operating to a strict or limited budget. It helps avoid financial risk over the contract duration.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.2.2 - Fixed pricing mechanisms and their application.


NEW QUESTION # 135
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