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Easy4Engine provides you with actual CIPS L5M3 dumps in PDF format, Desktop-Based Practice tests, and Web-based Practice exams. These 3 formats of Managing Contractual Risk exam preparation are easy to use. This is a printable CIPS L5M3 PDF dumps file. The CIPS L5M3 Pdf Dumps enables you to study without any device, as it is a portable and easily shareable format, thus you can study CIPS L5M3 dumps on your preferred smart device such as your smartphone or in hard copy format.
CIPS L5M3: Managing Contractual Risk is an advanced level course offered by the Chartered Institute of Procurement and Supply (CIPS) aimed at procurement professionals who wish to enhance their knowledge and skills in managing contractual risk. This course is designed to equip participants with an understanding of the key principles and concepts relating to contractual risk management, including the legal framework, risk identification, assessment, mitigation, and monitoring.
The CIPS L5M3 (Managing Contractual Risk) Certification Exam is an essential certification for procurement professionals who are responsible for managing and mitigating risks associated with contractual agreements. This certification provides a comprehensive understanding of the legal and commercial aspects of procurement contracts, enabling professionals to make informed decisions and efficiently manage contractual risks.
Achieving the CIPS L5M3 certification demonstrates a high level of knowledge and expertise in managing contractual risk, which can be a valuable asset in the workplace. It is also a recognized qualification within the procurement and contract management profession, which can open up new career opportunities for individuals who hold the certification.
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NEW QUESTION # 76
When there has been a major breach in a contract, the contract will be terminated. Is this statement true?
Answer: C
Explanation:
"no- the contract can be affirmed by the injured party" is the correct answer. When there is a breach in a condition, one of two things can happen; the contract is terminated, or the contract is affirmed. The injured party has the choice of whether or not they want to continue working with the other party and this is called 'affirmirmation of the contract'. The contract doesn't HAVE to be terminated in the case of a major breach so options 1 and 2 are incorrect. Option 4 is also incorrect- the contract can continue even if the offending party says they'll commit further breaches - it's completely up to the injured party whether they want to continue working with them or not. See p. 46 for further details
NEW QUESTION # 77
Which of the following will you put into box 4?
Answer: B
Explanation:
The correct answers are as follows:
This is the specification as it talks about types of fabric.
NEW QUESTION # 78
Which of these is NOT a stage in negotiation?
Answer: D
Explanation:
Adjourning is not a stage. The 6 stages of negotiation are; preparation, opening, discussion, pro-posal, bargaining and agreement. P.64
NEW QUESTION # 79
Sam is a factory manager and has purchased a new fixed asset on a loan purchase agreement. There is a forbearance agreement between the Factory and the provider. What does this mean?
Answer: B
Explanation:
1 is the correct answer. This is a direct quote from p. 104 of the study guide.
NEW QUESTION # 80
Logan Gin Distillery is creating a contract for one of its new suppliers. It is a complicated item that they are ordering and if things go wrong, it would have an extremely negative impact on production, and therefore on revenue. However it is impossible to say what the cost of this would be if things were to go wrong. What type of clause should be included in the contract?
Answer: D
Explanation:
Unliquidated damages would be the best to include as there is no way of identifying a figure for liquidated damages. This would be the safest thing for the buyer to do. P.108 - section on Unliqui-dated Damages.
NEW QUESTION # 81
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