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CIPS L3M1 Exam Questions
- Topic 1: Different Sectors of Procurement and Supply: Under this heading, there are different subtopics of the various sectors of procurement and supply including description of the categories and functions of private sector, roles, and scope of procurement in the private, public, not-for-profit/third sectors. Understanding the above sub-topics is very essential in an attempt to understand the concept of procurement and supply in general in these different sectors.
- Topic 2: Types of Pricing Arrangements in Commercial Agreements: It focuses on explaining pricing arrangements of use in commercial agreements so an entity can have the most effective price and cost management. This sub-topic is important because through this the role of pricing in procurement and supply can be deciphered.
- Topic 3: External Environment and Its Impact on Procurement and Supply: The external environment and their impact on procurement and supply comprise such subtopics as identification of the impact of the external environment and a description of implications of economic, political, legislative, environmental, ethical, and social criteria on the procurement and supply. Investigating these sub-topics is necessary for comprehending the external factors influencing procurement and supply.
- Topic 4: Procedures that Regulate Procurement and Supply: It refers to the regulations that guide procurement and supply. The subtopics discuss the types of documentation in procurement and supply and how these documented policies and procedures help in working within this field. Knowledge of the subtopics presents an essential overview of how regulatory aspects work in procurement and supply.
Free CIPS L3M1 Exam Actual Questions
Note: Premium Questions for L3M1 were last updated On Apr. 11, 2025 (see below)
Which of the following would be / should be subject to health and safety legislation?
All of these.
Monetary policy deals with:
Government decisions and actions regarding the level of interest rates and supply of money in the economy.
Fiscal policy relates to taxation and its relationship to government expenditure.
The other two suggested answers: exchange rates and unemployment rates are a factor of other poli-cies; the size of coins and banknotes is beyond the scope of your syllabus and my knowledge. :)
Which of the following are ways of classifying organisations? (select all that apply)
All of these are ways of classifying organisations.
Examples: Retailers, SMEs, limited companies, etc
'Shareholders are an example of stakeholders'. True or false?
Shareholders are one example of a range of stakeholders in a private or public limited company.
A 'firm price' and a 'fixed price' are the same thing.
True or false?
To the lay person, they may look the same.
However, for a procurement professional, a fixed price may be altered in some circumstances eg 'fixed price with incentive', 'fixed price with exchange rate adjustment', etc.
A firm price on the other hand cannot be altered, and is the price which will be paid under the con-tract.
An earlier text by Patrick Behan on government contracting refers.
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