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CIPS Certification
L3M3 Exam
CIPS.L3M3.v2024-05-04.q32 Dumps

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Question 11

In legal circles, ownership of something is often called:

A.Tithe
B.Tittle-tattle
C.Title
D.Total

Correct Answer: C

Title. In order to be sure you own something, you have to make sure you have acquired 'good title'.

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Question 12

Which one of the following is not an 'E' from STEEPLE?

A.Economic
B.Ethical
C.Environmental
D.Epistemological

Correct Answer: D

Even if you don't know what 'Epistemological' means, you should know it's the odd one out.
It relates to the philosophical study of knowledge.

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Question 13

Which STEEPLE factor deals with issues of foreign exchange rates, inflation, consumer spending, labour costs and unemployment levels?

A.Economic
B.Political
C.Socio-cultural
D.Environmental

Correct Answer: A

Economic.
I think foreign exchange at least couldn't fit into any other STEEPLE factor, so that's a clincher and it has to be 'economic'.

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Question 14

In this course, the acronym 'CPA' stands for:

A.Cost price adjustment
B.Certified price assessor
C.Critical path analysis
D.Contract price adjustment

Correct Answer: D

Contract price adjustment.
A contract may contain a contract price adjustment clause if the parties feel that costs may move significantly over the contract period. For example, in respect of commodities, metals, currencies or even sometimes, labour. Normally reference would be made to an index or indices which would help determine the direction and extent of adjustment in a minimally controversial way. An example of a widely-used index / formula in the UK is the BEAMA formula.

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Question 15

When negotiating, it is highly desirable to have both a:

A.ZOPA and a TABNA
B.BATNA and a ZOPA
C.DOPA and a BANTA
D.BATNA and a FOPA

Correct Answer: B

Best alternative to a negotiated agreement; and a zone of potential agreement.
The other terms shown are just fictions.

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