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L5M3 Exam Dumps - CIPS Level 5 Advanced Diploma in Procurement and Supply Questions and Answers

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Questions 4

Which of the following will you put into box 5?

Options:

A.

liability

B.

payment terms

C.

liquidated damages

D.

Contract variation

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Questions 5

Alan has an ongoing contract with a supplier for the provision of gardening tools to his horti-culture business. He has been working with the supplier for over 20 years and has recently discovered that the supplier committed a breach in a warranty 3 years ago. Can Alan claim damages?

Options:

A.

yes- the breach has occurred and a contract is in place

B.

yes- Alan can claim damages and rescind the contract

C.

no- Alan could only claim if the breach was of a condition, not a warranty

D.

no- Alan cannot claim because the breach was so long ago

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Questions 6

Tyrone Enterprises has just come out of a meeting with one of its suppliers Bob. The meeting has not gone well and the contract has become frustrated. What does this mean?

Options:

A.

Negotiations between the buyer and supplier have failed and dispute resolution will need to take place

B.

the supplier has committed a major breach and is unable to fulfil the contract

C.

a situation has occurred which means that the contract can no longer be performed

D.

The buyer no longer requires the supplier but is tied into the contract

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Questions 7

Which of the following is a source of breach in a contract?

Options:

A.

negligence

B.

liability

C.

force majeure

D.

warranty

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Exam Code: L5M3
Exam Name: Managing Contractual Risk
Last Update: Nov 21, 2024
Questions: 120
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