L3M3 CIPS Contract Administration Free Practice Exam Questions (2025 Updated)
Prepare effectively for your CIPS L3M3 Contract Administration certification with our extensive collection of free, high-quality practice questions. Each question is designed to mirror the actual exam format and objectives, complete with comprehensive answers and detailed explanations. Our materials are regularly updated for 2025, ensuring you have the most current resources to build confidence and succeed on your first attempt.
In the written presentation of a business case, a brief explanation of everything in the case, includ-ing the ultimate recommendation, aimed at people (eg senior managers) who have little time to plough through the details.
The variable cost of a bottle of water is 25 cents. Selling price is $1, and fixed costs are one hundred thousand dollars. How many bottles of water must be sold to reach breakeven point?
‘A purchasing procedure whereby potential suppliers are invited to make a firm and unequivocal offer of the price and terms on which they will supply specified goods or services which, on ac-ceptance, shall be the basis of the subsequent contract’
‘When the supplier delivers the goods as ordered, two further documents are created.
a) The supplier’s XXX XXX, included with the goods
b) The buyer’s YYY YYY YYY’
Choose the correct replacement words.
Win-win style negotiations are said to be:
Tolerate, transfer, terminate or …?
Looking specifically at how a quoted price compares to the cost of production is called:
