Jun-2024 Free L3M3 Test Questions Real Practice Test Questions [Q55-Q74]

NO.55 When negotiating, it is highly desirable to have both a:

NO.56 Looking specifically at how a quoted price compares to the cost of production is called:

NO.57 Which of the following is unlikely to be regarded as a conformance specification?

NO.58 Win-win negotiation is not commonly described as a (choose the most appropriate):

NO.59 Qualitative research / data can accurately be described as XXX rather than ‘counting’. What is XXX?

NO.60 ‘Profit is not a cost’. True or false?

NO.61 ‘Because they are set up for a specified duration, XXX contracts are subject to expiry rather than completion, unless they are renewed or extended.’

NO.62 The letters ‘MEAT’ stand for:

NO.63 Johnson, Scholes and Whittington suggested three key criteria for options which can be used in the evaluation of a business case. Which word was not one of these three key criteria?

NO.64 Transfer of the rights and obligations of a contract onto a third party, is called:

NO.65 When a proposal fits with organisational strategy / direction / values, this can be described as:

NO.66 Which of the following are genuine pieces of legislation in the UK?

NO.67 ‘When the best XXX is selected, a formal YYY ZZZ is prepared and sent to the supplier. Choose the most likely words to replace XXX, YYY and ZZZ.

NO.68 Which of the following statements is untrue? Select two.

NO.69 Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.

NO.70 In which quadrant of a SWOT analysis would ‘well-developed management skills, unique intellec-tual property rights and sound financial backing’ appear?

NO.71 A bottle of sparkling water sells for $1. The variable cost is 50 cents. Fixed costs for the business are $100,000 (one hundred thousand dollars). How many bottles of water must be sold for the business to reach breakeven point?

NO.72 What do we call it when a seller sets a low introductory price to win customers, or to discourage competitors owing to the low margins achievable in the marketplace? Choose one.

NO.73 A situation where suggestions made, often by a bidder, unnecessarily widen the scope of the requirement.

NO.74 Which STEEPLE factor deals with issues of import taxes, rising home labour costs, regional grants, stability of governing regimes?