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L3M3 dumps questions answers

CIPS L3M3 Dumps

Exam Code:
L3M3
Exam Name:
Contract Administration
Last Update: Apr 26, 2024
90 Questions with Explanation
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Contract Administration Practice Questions

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Contract Administration Questions and Answers

Questions 1

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

Options:

A.

Functional

B.

Outcome-focused

C.

Output-based

D.

Input-driven

Questions 2

What is the name given to costs which do not vary as activity levels in a business increase or de-crease?

Options:

A.

Variable costs

B.

Indirect costs

C.

Direct costs

D.

Fixed costs

Questions 3

What do we call it when a seller sets a low introductory price to win customers, or to discourage competitors owing to the low margins achievable in the marketplace? Choose one.

Options:

A.

Cost mark-up pricing

B.

Competitive pricing

C.

Promotional pricing

D.

Penetration pricing