Easy to Use and Compatible CIPS L4M4 Exam Practice Test Questions Formats

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CIPS L4M4 Exam Syllabus Topics:

TopicDetails
Topic 1
  • Understand the key processes that can be applied to the analysis of potential external suppliers:
Topic 2
  • Understand options for sourcing requirements from suppliers: This section covers the sourcing process, approaches, options, and award criteria for obtaining requirements from suppliers. The sub-topics provide a foundation for strategic sourcing.
Topic 3
  • This section examines analyzing market data, obtaining quotations
  • tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.
Topic 4
  • Understand compliance issues when sourcing from suppliers: It explores legislative, regulatory, and organizational requirements for sourcing. It compares the use of audit and other mechanism of feedback.

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CIPS Ethical and Responsible Sourcing Sample Questions (Q61-Q66):

NEW QUESTION # 61
If a commodity index shows that the price of a commodity is continually rising, what does this indicate about the market?

Answer: C

Explanation:
The correct answer is 'demand is exceeding supply'- If everyone wants to buy something, the sup-pliers will likely increase the price.
If there was little demand or there were threats of substitutions, this would likely result in a price decrease.


NEW QUESTION # 62
The balance sheet (Statement of Financial Position) is one of the financial statements used in providing important information required in determining the supplier's financial stability. The balance sheet contains information on such items as...

Answer: D

Explanation:
The balance sheet provides a snapshot of a company's financial position at a specific point in time, detailing assets, liabilities, and equity. Short-term liabilities, such as unpaid taxes and bank overdrafts, are obligations the company must settle within a year and are critical indicators of the company's liquidity and financial health.
Exact Extract from Study Guide:
"The balance sheet includes details of current liabilities, such as unpaid taxes and bank overdrafts, which are essential for assessing a supplier's short-term financial obligations and overall stability."


NEW QUESTION # 63
Achieving the 'five rights of procurement' is one of the key objectives of procurement managers. Which of the following are not considered one of the 5 rights? Select TWO.

Answer: D,E

Explanation:
ethics and environment are not a 'right of procurement'.
The 5 rights are price, quality, quantity, time and place.


NEW QUESTION # 64
Which of the following characteristics are likely to be required within sourcing processes undertaken in the public sector?
* An emphasis on long-term supplier relationships where possible
* Maintaining service levels within value and cost parameters
* All dealings between buyers and suppliers are kept confidential
* A competitive tendering process is usually encouraged

Answer: A

Explanation:
Public sector sourcing prioritises maintaining service levels within budget constraints and often mandates competitive tendering to promote transparency and fairness. These principles align with ethical sourcing practices, ensuring responsible expenditure and fair competition among suppliers.


NEW QUESTION # 65
Incoterms describe several aspects and responsibilities of transporting goods when sourcing internationally.
Which of the following is described by Incoterms? Select THREE.

Answer: A,C,E

Explanation:
Incoterms describe who out of the buer and seller; organises transport and what type of transport this is, who pays for insurance, and who organises duty / tariff arrangements when the goods go through customs. See p.
131. Note- some students report a lot of questions on Incoterms in the exam, some say they only had 1. If you can, I'd learn them just to be safe.


NEW QUESTION # 66
......

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