Free CIPS L4M3 Exam Questions

Become CIPS Certified with updated L4M3 exam questions and correct answers

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Total 289 Questions | Updated On: Apr 22, 2026

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Question 1

A large company supplies a lot of products. Their shipments are often delayed and customers are not satisfied.Which of the following KPIs is most likely to be applied to this situation?

A : Technical support

B : OTIF delivery

C : Delay damages

D : Consignment stock availability

Answer: B

Question 2

Which of the following is a true statement on express and implied terms?

A : Express terms always take precedent over implied terms

B : Implied terms may derive from oral negotiations

C : Express terms must always be in writing

D : Express terms must be prepared by the party with expert knowledge

Answer: B

Question 3

Danielle buys a car from Aaron. Not long after, she receives an proposal from Brian, who isinterested inbuying the car but his budget is very constraint. Then, Brian decides to sign a hire purchase agreement withDanielle which lasts 4 years. Brian lives very far from Danielle, so hehires Charlie to deliver the car to hisplace. During the transport, Charlie has an accident and the car is written off. At the time of accident, who hasthe title of the car?

A : Charlie

B : Aaron

C : Brian

D : Danielle

Answer: D

Question 4

What are five essential elements of a legally binding contract?

A : Offer, acceptance, compensation, ability, correct form

B : Offer, agreement, consensus, capacity, correct form

C : Offer, acceptance, consideration, capacity, correct form

D : Offer, acceptance, mediation, capacity, contract

Answer: C

Question 5

The pricing arrangement in which markup is added into cost base to calculate the final price is known as...?

A : Fixed Price approach

B : Market based approach

C : Price indices

D : Cost plus pricing

Answer: D

Page: 1 / 58

Total 289 Questions | Updated On: Apr 22, 2026

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