Free CIPS L3M3 Exam Questions

Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:

A justification of an action (expenditure) that is to be taken by an organisation.

What is the term for a situation where a seller sets a high introductory price for a new product, to attract buyers who have a strong desire to get the product early, and who can afford it? The price then gets gradually reduced over time.

A concise structured document showing all risks for a contract / unit / organisation, including details of nature of risk, risk owner, anticipated impact, possible responses, etc

Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.