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Maximize Success Ace L3M3 Contract Administration Exam with Confidence

Prepare effectively for the L3M3 Contract Administration exam with comprehensive study materials and practice tests. Gain expertise in contract management, negotiation, and compliance. Validate your skills and demonstrate your proficiency in administering contracts. Enhance your career prospects and excel in contract administration. Start your journey towards becoming a certified contract administration professional today!<br>https://www.certsgrade.com/pdf/l3m3/

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Maximize Success Ace L3M3 Contract Administration Exam with Confidence

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  1. CIPS L3M3 Contract Administration Questions And Answers PDF Format: For More Information – Visit link below: https://www.certsgrade.com/ Version = Version = Product Visit us athttps://www.certsgrade.com/pdf/l3m3/

  2. Latest Version: 6.0 Question: 1 What gets measured, gets …’? A. Measured B. Procured C. Managed D. Lost Answer: C Explanation: Managed. This an old management adage, which is intended to encourage managers to measure helpful indica- tors (not everything!). Question: 2 Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else. A. Opportunity cost B. Absorption cost C. Indirect cost D. Overhead cost Answer: A Explanation: An opportunity cost is the cost of not being able to do something else. For example, if a firm opts to build a new factory, it may not be able to create ten new retail outlets which was another option open to it, in spending these particular funds. Or if you buy a holiday, you may not be able to buy a new television. The television is the opportunity cost of the holiday ie the benefit foregone. The other types of cost shown are methods of classifying actual (real) costs. Opportunity costs are, in a sense, not real; they are hypothesized and therefore do not show in the balance sheet or profit and loss account of a business. Visit us athttps://www.certsgrade.com/pdf/l3m3/

  3. Question: 3 Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called: A. Uni form B. Model form C. Paper form D. Trans form E. Good form Answer: B Explanation: These are 'model form' contracts. Industry standard templates eg NEC ('New Engineering Con-tract'); or FIDIC model form contracts. You will find some examples produced by CIPS on the CIPS website eg for IT procurements. Question: 4 Win-win negotiations can be described as expanding the: A. Pie B. Sky C. Tie D. Dye Answer: A Explanation: This is the idea that negotiations can be of the sort which shares the (apple) pie, often aggressively and not 50/50 (win-lose); or it can seek to create additional value - expand the pie (win-win). Question: 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? A. Transferability B. Feasibility C. Acceptability D. Suitability Visit us athttps://www.certsgrade.com/pdf/l3m3/

  4. Answer: A Explanation: 'Is it acceptable, feasible and suitable?' are the tests. Visit us athttps://www.certsgrade.com/pdf/l3m3/

  5. For More Information – Visit link below: https://www.certsgrade.com/ PRODUCT FEATURES 100% Money Back Guarantee 90 Days Free updates Special Discounts on Bulk Orders Guaranteed Success 50,000 Satisfied Customers 100% Secure Shopping Privacy Policy Refund Policy 16 USD Discount Coupon Code: NB4XKTMZ Visit us athttps://www.certsgrade.com/pdf/l3m3/ Powered by TCPDF (www.tcpdf.org)

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