CIPS L3M1 Exam Questions - Navigate Your Path to Success

The CIPS Procurement and Supply Environments (L3M1) exam is a good choice and if the candidate manages to pass CIPS Procurement and Supply Environments exam, he/she will earn CIPS Level 3 Advanced Certificate in Procurement and Supply Operations Certification. Below are some essential facts for CIPS L3M1 exam candidates:

TrendyCerts offers 90 Questions that are based on actual CIPS L3M1 syllabus.
Our CIPS L3M1 Exam Practice Questions were last updated on: Mar 06, 2025

Sample Questions for CIPS L3M1 Exam Preparation

Question 1

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:

APainshare

BStocks and shares

CFair share

DGainshare

Correct : D

There is an expression 'painshare' which is an almost-ironic term referring to the opposite of the situ-ation described in the QUESTION NO : - when something has gone wrong, and the additional cost must be shared between the parties. The other two answers are a little bit facetious.

The correct answer is 'gainshare' when the parties share benefits, according to a pre-agreed ratio or formula.

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Question 2

Which of the following are normally not a source of funds for a third sector organisation?

AProceeds from sales of tobacco products

BProceeds from gambling
(Correct)

CGrants from taxpayers

DCharitable contributions

EMerchandise sales revenue

Correct : A

Third sector organisations often rely on charitable contributions. An example might be Medecins Sans Frontieres.

They also sometimes receive grants from taxpayers, sometimes in return for work done eg the chari-ty Barnardo's receive government funding in return for advising the British government on man-agement of some children in its care.

Finally some NFPs have, for example, retail outlets which generate income to aid the organisation. Oxfam is such an example.

Third sector can be expected to ster clear of certain areas for ethical reasons. Alcohol, gambling, to-bacco, and weapons are examples.