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CIPS L4M3 Exam With Confidence Using Practice Dumps

Exam Code:
L4M3
Exam Name:
Commercial Contracting
Vendor:
Questions:
196
Last Updated:
Jul 15, 2025
Exam Status:
Stable
CIPS L4M3

L4M3: CIPS Level 4 Diploma in Procurement and Supply Exam 2025 Study Guide Pdf and Test Engine

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Commercial Contracting Questions and Answers

Question 1

A procurement professional is drafting payment terms for a commercial contract. He is considering about payment method if defective products are found. Which of the following should be embedded in payment terms to control this issue?

Options:

A.

Remedies for late payment

B.

Pay-less notice

C.

Invoice preparation

D.

Retention clause

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Question 2

Which of the following can be considered as implied terms in a contract?

1. Case law

2. Statute

3. Trade custom

4. A term can never be implied, it must always be expressed by the parties

Options:

A.

1,3 and 4 only

B.

1, 2 and 3 only

C.

1, 2 and 4 only

D.

2, 3 and 4 only

Question 3

Which of these describes “consideration” within a contract?

Options:

A.

The communication of an unconditional agreement

B.

Both parties exchange something of value

C.

The desire of both parties to enter into a contract

D.

Ability of both parties to be able to enter into a contract