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CIPS L5M3 Dumps

Exam Code:
L5M3
Exam Name:
Managing Contractual Risk
Last Update: Dec 2, 2024
120 Questions with Explanation
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Managing Contractual Risk Questions and Answers

Questions 1

Which of the following will you put into box 6?

Options:

A.

adjudication

B.

arbitration

C.

mediation

D.

litigation

Questions 2

Franky B's is a popular restaurant chain which is seeking a resolution to a conflict it has with its supplier of Fried Chicken. It is looking for a dispute resolution that does not involve the court but in which an expert third party will make a binding decision. Which is the most suitable dispute resolution method for Franky B's?

Options:

A.

litigation

B.

adjudication

C.

conciliation

D.

mediation

Questions 3

What is the first stage in conflict resolution?

Options:

A.

assess the impact of the breach

B.

look at remedies available

C.

identify the nature and source of the conflict

D.

decide on the type of conflict resolution approach