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CIPS L5M3 (Managing Contractual Risk) exam is designed to test the knowledge and skills required by procurement and supply chain professionals to effectively manage contractual risks. L5M3 exam covers a range of topics, including contract law, risk assessment, contract management, and dispute resolution.

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C) Dispute Resolution Mechanisms - This covers the different dispute resolution mechanisms that can be used to resolve contract disputes, such as mediation, arbitration, and litigation.

CIPS L5M3 exam is a written exam that consists of three questions. Candidates have three hours to complete the exam. The questions are designed to test the candidate's understanding of the principles of contract risk management and their ability to apply them to real-life procurement situations.

Reference: https://www.cips.org/qualifications/advanced-diploma-in-procurement-supply/managing-contractual-risk

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