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CIPS L4M3 Exam is divided into three parts. The first part focuses on the principles of commercial contracting. This includes understanding the different types of contracts, the legal and regulatory framework for contracts, and the key elements of a contract. Candidates will also learn about the different methods of contract pricing and the various types of contracts used in procurement.

CIPS Commercial Contracting Sample Questions (Q114-Q119):

NEW QUESTION # 114
Which of the following will always give rise to a claim of misrepresentation?
1. Silence
2. False thought
3. Statement of fact
4. Representation by conduct

A. 3 and 4 only
B. 1 and 2 only
C. 2 and 4 only
D. 1 and 3 only

Answer: A

Explanation:
A misrepresentation is a false statement of fact or law which induces the representee to enter a contract. Where a statement made during the course of negotiations is classed as a representation rather than a term an action for misrepresentation may be available where the statement turns out to be untrue.
For a party to claim for misrepresentation, there must be a false statement of fact or law as oppose to opinion or estimate of future events. It does not matter whether the incorrect information is given by words or takes the form of misleading conduct.
Silence will not generally amount to a misrepresentation. However, it can become a misrepresentation in some exceptional circumstances.
In the L4M3 study guide, the author states that "A statement of law is not misrepresentation". This is untrue in both common law and civil law systems. In the UK, false statement of law will now amount to an actionable misrepresentation (see Pankhania v Hackney [2002] EWHC 2441).
Reference:
- Misrepresentation
- L4M3 study guide page 53-55
LO 1, AC 1.2

NEW QUESTION # 115
Electro Systems PLC is a public sector manufacturer of highly technical solutions for the telecommunications industry. The market in which it operates is fast-paced and ever-changing because of the latest inventions and developments. The products it procures are high-cost and can be subject to lengthy lead times. Michael Jones, the procurement director, believes that establishing framework agreements would be beneficial to the tendering process. How could this assist them?

A. Improve supplier product quality
B. Enable the use of e-tendering
C. Improve supplier lead times
D. Enable the use of mini-competitions

Answer: D

Explanation:
Framework agreements allow for pre-approved suppliers to be used over a contract period with simplified ordering processes. A key benefit is the use of mini-competitions among these suppliers to secure value and innovation without repeating the full tender process. This approach is highly effective in dynamic sectors like telecommunications.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 4, Section 4.1.2 - Framework agreements and mini-competitions.

NEW QUESTION # 116
Which of the following is always an advantage of using fixed price arrangement in a contract for buying organisation?

A. Suitable for contracts that last 5 years or more
B. Buyer can allocate budget with certainty
C. Supplier always receives a fixed margin
D. Buyer can harness falling market price

Answer: B

Explanation:
Advantages of using fixed pricing arrangement are as below:
- Budget/income certainty - prices are fixed up front and should not change
- The impact of changes to the supplier's cost base is not fed through to the purchaser. If costs diminish, the supplier will benefit from this, and if costs rise, the purchaser will benefit Reference: CIPS study guide page 172-176 LO 3, AC 3.3

NEW QUESTION # 117
A senior buyer is preparing specification for the next purchase. He intends to embed social and environmental criteria that align with his organisation's overarching strategy. Which of the following provides the social and environmental objectives that an organisation pursues?

A. Economy of scale
B. Economic performance
C. Organisation's CSR policies
D. Procurement Systems and Technology

Answer: C

Explanation:
The organisation should have an overarching strategies or policies which sets out the social and environmental objectives to be pursued via procurement and the supply chain generally. Some of these will be about the specification, but that must be tied in other aspects of the sourcing strategy. These objectives, policies and strategies can be found in corporate social responsibility policy.
Reference:
LO 2, AC 2.1

NEW QUESTION # 118
Which of the following is most likely to be an one-off contract?

A. Contract for construction of a power plant
B. Framework Agreement for supply of mono-crystalline silicon
C. Commercial lease agreement of an office building
D. Franchise Agreement

Answer: A

Explanation:
One-off contracts are used where a supplier is only needed for a single activity unlikely to be repetitive, and where the need of the buyer is concrete and finite. Among the answers, only construction for power plant is one-off since the work is non-repetitive and the need is clearly defined.
A framework agreement is an agreement between one or more businesses or organisations, "the purpose of which is to establish the terms governing contracts to be awarded during a given period, in particular with regard to price and, where appropriate, the quantity envisaged".
A Commercial Lease Agreement is a contract used when renting business property to or from another individual or company. It gives the tenant (or renter) the right to use the property for business purposes during the term of the lease in exchange for payment to the landlord.
A franchise agreement is a legally binding document that outlines a franchisor's terms and conditions for a franchisee. Every franchise is governed by these terms, which are generally outlined in a written agreement between both parties.
Reference:
LO 1, AC 1.3

NEW QUESTION # 119
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