L3M3 Contract Administration Exam Free Dumps

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L3M3 Contract Administration exam free dumps are resources for anyone preparing to take the L3M3 Contract Administration Exam. These dumps contain questions and answers from the actual exam, allowing candidates to familiarize themselves with the types of questions they can expect, and test their knowledge and understanding of contract administration. We have cracked the latest Contract Administration L3M3 exam dumps, which can help you pass the test easily. Free Contract Administration L3M3 exam dumps are available below.

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1. What gets measured, gets …’?

Measured

Procured

Managed

Lost

2. Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.

Opportunity cost

Absorption cost

Indirect cost

Overhead cost

3. Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:

Uni form

Model form

Paper form

Trans form

Good form

4. Win-win negotiations can be described as expanding the:

Pie

Sky

Tie

Dye

5. Johnson, Scholes and Whittington suggested three key criteria for options which can be used in the evaluation of a business case.

Which word was not one of these three key criteria?

Transferability

Feasibility

Acceptability

Suitability

6. Key players have a:

High level of interest but little influence

High level of interest and little power

High level of power and a high level of interest

High level of power but little interest

7. Under a XXXX contract, the buyer does commit to purchase a given quantity over a given period of time, but the precise number of orders and their quantities is unknown at the start of the period.

What expression has been replaced by XXXX?

Call-off

Framework

Oral

Term

8. A ‘cause and effect’ or ‘fishbone’ diagram is also commonly known as:

A Murakami diagram

A Fukushima diagram

An Ishiguro diagram

An Ishikawa diagram

9. ‘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’

Competitive dialogue

Request for information

Invitation to tender

Expression of interest

10. What is a contract?

An agreement between two or more parties which is intended to be enforceable by any means feasible.

An agreement between two or more parties which is enforceable in law.

An agreement between two or more parties which is intended to be honoured.

An agreement between two or more parties which, all other things being equal, is in-tended to be enforceable by law.

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11. Transfer of the rights and obligations of a contract onto a third party, is called:

Assignment

Association

Acceptance

Assignation

12. Which of the following are internal factors in supplier decision-making? Choose two.

Extent of competition in the marketplace

Cost of production

Shareholder and managerial expectations of profit

Customer perceptions of value

13. Which of the following would not normally be part of data required by the buying organisation’s contract manager?

Other customer data

Technical data

Financial data

Performance data

14. A justification of an action (expenditure) that is to be taken by an organisation.

Project management

Competitive tender

Business case

Cost analysis

15. Looking specifically at how a quoted price compares to the cost of production is called:

Factor analysis

Price analysis

Psycho analysis

Cost analysis

16. If your organisation takes out insurance cover to address various risks, which one of the following risk management strategies is it adopting?

Treat

Terminate

Tolerate

Transfer

17. How many 'Whys'?

Five

Four

Three

Six

18. Which one of the following is not an ‘E’ from STEEPLE?

Economic

Ethical

Environmental

Epistemological

19. Which one of the following could not be classed as a form of performance specification?

Functional

Outcome-focused

Output-based

Input-driven

20. In which quadrant of a SWOT analysis would ‘well-developed management skills, unique intellectual property rights and sound financial backing’ appear?

Page 3 of 3

21. Goods or services which must be used together are called:

Compliments

Condiments

Complements

Substitutes

22. ‘Profit is not a cost’. True or false?

True

False

23. Which of the following would be unethical? Choose two.

To place business with a company in which your sister works, having been instructed in writing to do so by your line manager

To negotiate with suppliers

To request quotations if the buyer has no intention to purchase

To request quotations from several suppliers if the buyer has already decided where the contract will be awarded

24. In the written presentation of a business case, a brief explanation of everything in the case, including the ultimate recommendation, aimed at people (eg senior managers) who have little time to plough through the details.

Background

Cost-benefit analysis

Introduction

Executive summary

25. Which STEEPLE factor deals with issues of waste management, pollution and recycling?

Technological

Environmental

Socio-cultural

Ethical

26. Periodic progress reports may be required by a contract manager. Part of this could include reporting actual progress against planned progress. In many cases, achievement of planned stages would result in (part-) payment(s) being released to the contractor.

Which one of the following terms might be the most appropriate title for a plan underpinning this approach, to ensure value for money, and payment linked to actual progress?

Part-payment plan

Milestone / gateway plan

Stage or staged plan

Roadmap or road sign plan

27. In legal parlance, in discussing / negotiating contract terms, something which is 'less than an offer', might be:

Invitation to tea

Invitation to treat

Consideration

Invitation to accept

28. Conducting individual and group-based (focus groups) in-depth interviews.

Is this quantitative or qualitative data gathering?

Qualitative

Quantitative

L3M3 Contract Administration Exam Free Dumps

L3M3 Contract Administration Exam Free Dumps

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