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L4M3 Exam Dumps - Commercial Contracting

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Question # 25

Which of the following would be suitable key performance indicators (KPIs) for supplier performance?

Ensure you have customer loyalty

Value or percentage of cost reductions obtained

Win an award in the next 12 months

Percentage of on-time in full deliveries

A.

1 and 3 only

B.

2 and 4 only

C.

1 and 4 only

D.

2 and 3 only

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Question # 26

Which of the following would be considered as advantages of an industry model form contract?

It provides greater flexibility for negotiation

It reduces the cost of contract development

It is usually designed to be fair to both parties

It removes the need for the buyer to understand it

A.

1 and 2 only

B.

2 and 4 only

C.

1 and 3 only

D.

2 and 3 only

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Question # 27

What are disadvantages of a buyer contracting on the supplier's terms? Select TWO that apply.

A.

Materials will not be changed without the buyer’s consent

B.

The buyer would not be subject to any indemnity clause obligations

C.

Title to goods may remain with the supplier until payment is received

D.

Goods received late will incur penalties for the supplier

E.

Prices may increase without notification to the buyer

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Question # 28

Which of the following is an agreement between service provider and user that quantifies the minimum quality of service?

A.

Service charter

B.

Service guarantee

C.

SLA

D.

Service standard

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Question # 29

If a false statement of material fact is made by one of the contracting parties, the misled party will have remedies for:

A.

Indemnity

B.

Misrepresentation

C.

Recission

D.

Damages

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Question # 30

Which of the following best defines an ‘express’ term in general contract arrangements?

A.

It is a standard set of terms and conditions published by CIPS

B.

It is not necessarily discussed by the parties, but nonetheless forms part of the contract

C.

It is the term that is added to the contract by the law or based upon the facts of the case.

D.

It is clearly agreed between the parties, and is virtually always written down in the contract

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Question # 31

Which of the following are typically included in an SLA? Select TWO that apply:

A.

Requirements for packaging

B.

Service definition

C.

KPI detailsCorrect)

D.

Code of conduct

E.

Product's lifespan

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Question # 32

You are to do the KPIs and targets for international supplier and the following was done

1. Delivery in an hour

2. Return orders in an hour

Is that a good thing or not?

A.

Yes, because these targets will propel the suppliers to continuous improvement

B.

No, the local suppliers are always the best choice

C.

No, because the KPIs are not a realistic and justified

D.

Yes, the higher the targets are, the better the outcomes will be

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