Free Practice CIPS L3M1 Exam Questions 2025

Stay ahead with 100% Free Procurement and Supply Environments (L3M1) L3M1 Dumps Practice Questions

Page: 1 / 18

Total 90 Questions | Updated On: Jun 05, 2025

Add To Cart

Question 1

‘The value of a commodity or service measured in terms of the standard monetary unit’ describes:

A : Cost

B : Value added

C : Price

D : Value for money

Answer: C

Question 2

The film 'An Inconvenient Truth', made by former US Vice-President, Al Gore, is about:

A : Political lobbying and corruption

B : Ethics in commercial environments

C : Climate change

D : Biodiversity

Answer: C

Question 3

An arrangement between a buyer and a supplier in which they agree to apportion benefits (such a reduced costs, or increased outputs) arising from particularly sound contract performance may be called:

A : Painshare

B : Fair share

C : Gainshare

D : Stocks and shares

Answer: C

Question 4

Which of the following would not normally be seen as part of public sector procurement?

A : Achieving defined service levels

B : An emphasis on the use of the competitive principle

C : Personal financial rewards from suppliers for buyers in return for awarding contracts

D : Personal bonus payments for procurement staff, linked to savings made

E : Pursuit of equal opportunities policies, internally and externally

Answer: C,D

Question 5

‘The value of a commodity or service measured in terms of the standard monetary unit’ describes:

A : Cost

B : Value added

C : Price

D : Value for money

Answer: C

Page: 1 / 18

Total 90 Questions | Updated On: Jun 05, 2025

Add To Cart