CIPS Contract Administration L3M3 Exam Practice Test

Answer : D

This is about risk, and the answer is 'treat'.

Risk management strategies can be classified into 'the 4 T's', which you need to know for your ex-am.

Treating the risk is essentially seeking to minimise the likelihood or impact of the risk. An example might be to carefully monitor key suppliers' ongoing financial performance to minimise the likeli-hood of their going into liquidation during the course of a contract with us. Etc.

Answer : C

Managed.

This an old management adage, which is intended to encourage managers to measure helpful indica-tors (not everything!).

Answer : C

Socio-cultural. The only 'S' in the framework.

Answer : A

'Five-Why Analysis' or 'Why-Why Analysis' is an approach to trying to determine the cause of an event. It can be used to link to / in conjunction with an Ishikawa diagram. The principle is that one repeatedly (as often as necessary, not necessarily limited to five) asks 'why?', and eventually an un-derlying reason will emerge, which if addressed effectively, will successfully resolve the problem. This is something which can often be observed naturally in small children. 'Why, Daddy?'. 'But why, Daddy?. Etc. (Or Mummy)

Answer : D

Since performance specifications are all to do with outputs, 'input-driven' leaps out as being the cor-rect answer here.

Answer : B

Outputs link to the concept of a performance (or 'output') specification, not a conformance specifi-cation.

Answer : A

The benefit of in-depth interviews is that one may unearth deeper thoughts, ideas or concerns than through a larger quantitative exercise. Qualitative exercises lend themselves to more freedom to ex-plore interesting issues.