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Free L4M3 Exam Braindumps (page: 26)

Page 26 of 48
PDF with 189 Questions

XYZ Ltd and Engineer Corp signed a long-term supply contract in which both parties had agreed on performance targets. Recently, due to increased customer demands, XYZ Ltd realises that they should make changes to the contract with Engineer Corp with regards to performance management. These changes are approved and signed by both the buyer and seller. The changes to the contract are known as...?

  1. An amendment to the prime contract
  2. A stand-alone subcontract to the prime contract
  3. An appendix to the prime contract
  4. A separate counter-offer to the supplier

Answer(s): A

Explanation:

The changes are made to the prime contract. They are also signed and approved by both parties. These changes are known as amendment (variation) to the contract. A contract amendment allows the parties to make a mutually agreed-upon change to an existing contract. An amendment can add to an existing contract, delete from it, or change parts of it. The original contract remains in place, only with some terms altered by way of the amendment.


Reference:

- Modify an Existing Contract with a Contract Amendment
- CIPS study guide page 26-28 LO 1, AC 1.1



Information assurance protects information systems and...?

  1. Hard copy
  2. Computers
  3. Inventory
  4. People

Answer(s): B

Explanation:

Information Assurance (IA) is the practice of managing information-related risks and the steps involved to protect information systems such as computer and network systems. The IA transformation is a partnership that stretches across the Department of Defense (DoD), Office of National Intelligence, Committee on National Security Systems, National Institute of Science and Technology (NIST), and the Office of Management and Budget. The US Government's definition of information assurance is:
"measures that protect and defend information and information systems by ensuring their availability, integrity, authentication, confidentiality, and non-repudiation. These measures include providing for restoration of information systems by incorporating protection, detection, and reaction capabilities."


Reference:

- What is Information Assurance (IA)?
- CIPS study guide page 99-100 LO 2, AC 2.1



A company needs to source a product from overse

  1. It wants to overcome technical barrier to cross-border trade by using standards in the specification.
    Which of the following is most likely to be incorporated into that specification?
  2. National standards
  3. Company standards
  4. Brands
  5. International standards

Answer(s): D

Explanation:

Exporting enterprises must sometimes incur additional costs as they adapt their production to the changing legal requirements of the recipient country. Such requirements can thus create technical barriers to trade. Discrepancies between product rules adopted by different countries can involve numerous aspects: weight, size, packaging, ingredients, mandatory labeling, shelf-life conditions, testing and certification procedures etc.
One way to overcome these barriers is to adopt international standards. Overseas companies may be more familiar with international standards without looking at specific regulations of importing countries.


Reference:

- What is a technical barrier to trade?
- CIPS study guide page 88-89 LO 2, AC 2.1



A retailer prefers to display its best selling products and promotion programme on the building windows. According to rule of contract formation, this act will generally constitute...?

  1. An invitation to treat
  2. A legal capacity
  3. An offer
  4. A mailbox rule

Answer(s): A

Explanation:

Fisher v Bell [1960] and Pharmaceutical Society of Great Britain v Boots Cash Chemists [1953] identified that the courts will generally consider goods advertised in shop windows or those with a price tag attached to constitute an invitation to treat. An invitation to treat is a concept in contract law. It refers to an invitation for a party to make an offer enter into contractual negotiations. Invitations to treat can be anything displayed to a large number of people, as long as there is no defined way to choose who can accept. Items on display in a shop, advertisements, and catalogues are all common examples of invitations to treat.
However, there are cases in the US shows that under some circumstances an advertisement can become an offer (see Leftkowitz v Great Minneapolis Surplus Stores [1957]).


Reference:

- What is an Invitation to Treat in Contract Law?
- CIPS study guide page 29 LO 1, AC 1.2



Page 26 of 48



Post your Comments and Discuss CIPS L4M3 exam with other Community members:

Tina commented on September 20, 2024
I need to emphasis that this exam is extremely HARD! So prepare well or else you will fail. I got lucky and passed mine. But I used these dumps and some other sources.
Singapore
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Evangelista commented on June 30, 2024
the questions assist me to read and understand the material
UNITED KINGDOM
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Leungoinalame Gobuiwang commented on May 01, 2024
That was good questions to explore on
BOTSWANA
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Leungoinalame Gobuiwang commented on May 01, 2024
It bid challenging but I think I can manage
BOTSWANA
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Leungoinalame Gobuiwang commented on May 01, 2024
I think the L4M3 it needs a person to read to understand
BOTSWANA
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Rudasingwa Innocent commented on March 13, 2024
This prepares good managers for procurement
Anonymous
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Rudasingwa Innocent commented on March 13, 2024
This is good since it prepares the future managers for procurement.
Anonymous
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