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Updated: Nov 07, 2026
No. of Questions: 235 Questions & Answers with Testing Engine
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CIPS L4M3 Exam Overview:
| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | CIPS Level 4 Diploma in Procurement and Supply - Commercial Contracting |
| Exam Number: | L4M3 |
| Real Exam Qty: | 90 |
| Certificate Validity Period: | Certification validity varies - members should check CIPS membership requirements |
| Exam Duration: | 150 minutes |
| Exam Price: | GBP £80-£120 |
| Available Languages: | English |
| Exam Format: | Multiple choice, Scenario-based questions |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Passing Score: | Pass/Merit/Distinction (50% minimum for pass) |
| Sample Questions: | CIPS L4M3 Sample Questions |
| Exam Way: | Computer-based testing (CBT) at authorized CIPS exam centers or paper-based exams available in certain regions |
| Pre Condition: | No formal prerequisites, but recommended to complete L4M1 and L4M2 or have relevant procurement experience. CIPS membership is typically required for exam registration. |
| Official Syllabus URL: | https://www.cips.org |
CIPS L4M3 Exam Syllabus Topics:
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Reference: https://www.cips.org/qualifications/diploma-in-procurement-supply/commercial-contracting/
CIPS Commercial Contracting Sample Questions:
A service contract is going to be expired, which data source is good to create specifications for ITT?
1. Incumbent supplier
2. Maintenance services
3. Alternative supplier
4. User's knowledge
- A. 1, 3 and 4
- B. 2, 3 and 4
- C. 1, 2 and 4
- D. 1, 2 and 3
Correct Answer: A 🗳️
Explanation: Only visible for PracticeMaterial members. You can sign-up / login (it's free).
Key performance indicators (KPIs) are used to measure supplier performance. Which of the following are KPIs that may be used? Select THREE that apply.
- A. Cost management
- B. Timeliness of delivery
- C. Quality conformance
- D. Employee attendance
- E. Style of negotiation
- F. Contract standardisation
Correct Answer: A,B,C 🗳️
Explanation: Only visible for PracticeMaterial members. You can sign-up / login (it's free).
Which of the following should be done by procurement professionals right after obtaining a pre-written specification for a critical item so that the added value will be the greatest?
- A. Evaluate tender or quotation
- B. Issue invitation to tender or request for quotation
- C. Select the best supplier
- D. Challenge the used specification
Correct Answer: D 🗳️
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Is a verbal contract legally enforceable?
- A. Yes, a verbal agreement is just as legally enforceable as a written one
- B. No, only contracts in writing will be legally enforceable
- C. No, verbal contracts are never legally enforceable
- D. Yes, but only if you have a witness at the time the verbal agreement was made
Correct Answer: A 🗳️
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Maximum Score 1
A construction company wishes to place the contract for the building of a new hotel to a principal contractor using a model form contract. Which of these is an advantage of using a 'model form contract'?
- A. Incentive payment terms can be included to reward the supplier for attainment of cost savings
- B. Legal advice is still required if significant amendments or variations are to be made to the contract
- C. Formulae or indices can be included to assess any additional supplier's claims for contract price adjustment
- D. It avoids the requirement to create complex contracts each time but can be adapted to suit particular circumstances
Correct Answer: D 🗳️
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