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CIPS Commercial Contracting Sample Questions (Q164-Q169):

NEW QUESTION # 164
Rochdale Ltd is looking for a new IT system to automate some of its operations. In designing the specification, procurement manager supposes that it should be done solely by the IT department who have deep expertise on this matter. Is procurement manager's opinion appropriate?

A. No, because designing complex specification could only be outsourced
B. Yes, because designing complex specification would waste procurement manager's time
C. Yes, because procurement professional has no expertise in IT sector
D. No, because challenging the user's demand is the role of procurement

Answer: D

Explanation:
Procurement professionals have a role in challenging specifications. Technical experts can get things wrong and asking naive questions can be useful in bringing these to light. The challenging may include:
- Does the organisation really need these features/functions?
- With this specification, are there many available suppliers in the market?
- How many does the organisation really need?
etc
Reference:
LO 1, AC 1.1

NEW QUESTION # 165
A company needs to source a product from overse
a. It wants to overcome technical barrier to cross-border trade by using standards in the specification. Which of the following is most likely to be incorporated into that specification?

A. International standards
B. Company standards
C. National standards
D. Brands

Answer: A

Explanation:
Exporting enterprises must sometimes incur additional costs as they adapt their production to the changing legal requirements of the recipient country. Such requirements can thus create technical barriers to trade. Discrepancies between product rules adopted by different countries can involve numerous aspects: weight, size, packaging, ingredients, mandatory labeling, shelf-life conditions, testing and certification procedures etc.
One way to overcome these barriers is to adopt international standards. Overseas companies may be more familiar with international standards without looking at specific regulations of importing countries.
Reference:
- What is a technical barrier to trade?
- CIPS study guide page 88-89
LO 2, AC 2.1

NEW QUESTION # 166
Infra Constructions receive a contract for construction of a building, and following terms were agreed upon.
"The entire cost of the project will be reimbursed to Infra Constructions (estimated cost of the project being $
25 million). The profits will be 20% of the entire cost of a project subject to a max of $ 5 million." This arrangement is an example of...?

A. Fixed-pricing arrangement
B. Gain-share/pain-share arrangment
C. Cost-plus pricing arrangement
D. Incentive pricing arrangement

Answer: C

Explanation:
In the contract term, the buyer agrees to pay the contractor the cost of doing project plus a profit. This is an example of cost-plus pricing arrangement.
On the other hand, "Fixed-pricing arrangement" often refers to lump-sum contract or supply/service contract with fixed price. "Incentive pricing arrangement" and "Gain-share/pain-share arrangement" have the same meaning. In this type of arrangement, both supplier and buyer agree on a target (it can be cost, or lead time, or quality, etc). Once the supplier reaches that target, it will be rewarded with a portion of the gain that the buyer gets, and will pay the price if it fails.
Reference: CIPS study guide page 176-178
LO 3, AC 3.3

NEW QUESTION # 167
One of the important features in the formation of a contract is the need to have a 'consensus ad idem' between the contracting parties. 'Consensus ad idem' can be translated as meaning:

A. An agreement on the main item of the contract
B. A promise to commit the contract to written form
C. A meeting of minds where all parties have the same understanding of the terms
D. Let the buyer beware before agreeing the contract

Answer: C

Explanation:
'Consensus ad idem' is a Latin term meaning "meeting of the minds." It refers to both parties having the same understanding and intention regarding the contract's terms. This mutual agreement is essential for forming a valid and enforceable contract.
Reference:CIPS L4M3 Commercial Contracting Study Guide, Chapter 1, Section 1.1.1 - Essential elements of a valid contract.

NEW QUESTION # 168
Which of the following is most likely to reduce ITT preparation time while maintaining the clarity of tendering documents?

A. Monitoring usage
B. Using request for quotation
C. Standardising documentation whenever possible
D. Eliminating pre-qualification stage from all tendering processes

Answer: C

Explanation:
One of the major disadvantages of tendering process is that it is lengthy, bureaucratic and slow. To reduce the preparation time, buying organisation can:
- Plan forward
- Standardise tendering documents (such as notices, terms and conditions,...) whenever possible
- Train procurement staff
- Write down policies for tender-waiver
Buying organisation should not eliminate the pre-qualification stage from all tendering processes. This stage is used as a filter to select the most competent suppliers for next stage in restricted tendering. To save time in this process, you can design a model questionnaire.
Reference:
LO 1, AC 1.1

NEW QUESTION # 169
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Dan Hunt Dan Hunt

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