Ethical and Responsible Sourcing Exam Questions Can Help You Gain Massive Knowledge of L4M4 Certification

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CIPS L4M4 Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	Understand the key processes that can be applied to the analysis of potential external suppliers:
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 (Q161-Q166):

NEW QUESTION # 161
If a commodity index shows that the price of a commodity is continually rising, what does this indicate about the market?

A. demand is exceeding supply
B. that there is little demand in the marketplace
C. there is a threat of substitution
D. the marketplace is a monopoly

Answer: A

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 # 162
Which of the following would you use to determine the outcome of a competitive tender? Select TWO.

A. price
B. quality
C. distribution
D. location
E. reputation

Answer: A,B

Explanation:
Price and Quality are the two considerations when marking a competitive tender.
Location, distribution and reputation may be considered for SOME tenders, but these would be sub-categories that fall under 'quality questions.

NEW QUESTION # 163
Commodities can be traded on a stock exchange and are generally divided into one of four categories. Which of the following is not one of these four categories?

A. plastics
B. livestock
C. energy
D. metals

Answer: A

Explanation:
Plastic is not a commodity. A commodity is something that is naturally occurring and plastic is manufactured.
The other category of commodity is agriculture.

NEW QUESTION # 164
Philip is a procurement manager at XYZ Company which imports raw materials from abroad. Sup-pliers provide quotes to Philip in their local currency. Is this the best way to reduce the risk to XYZ Company of currency fluctuations?

A. yes- this puts the risk on the supplier
B. no- quoting in the supplier's currency increases the risk for the buyer
C. yes- this means the price won't go up or down
D. no- quoting in the supplier's currency does not affect the risk to the buying organisation

Answer: B

Explanation:
The correct answer is 'no- quoting in the supplier's currency increases the risk for the buyer'. This questions comes up in a variety of formats in the exam. Remember; if the price is in your own currency (most examples in the exam are given in £) there is less risk than if the prices are quoted in a foreign currency. This is because exchange rates fluctuate; if the price is in £ you always know what you're paying, if it's in another currency the price can change daily depending on if the exchange rate compared to £ has gone up or down.

NEW QUESTION # 165
Zeb is a Procurement Manager at Zig Zag Zips manufacturing. The organisation has a complex supply chain and works with 46 different suppliers, many of these international. Which of the follow-ing would be the most useful for Zeb to address issues of Modern Slavery?

A. ask all suppliers to get Fair Trade accredited
B. ensure all 46 suppliers publish an Anti Slavery Statement in line with the Modern Slavery Act
C. carry out regular due diligence checks on the supply base
D. work with less suppliers to reduce the risk of slavery entering the supply chain

Answer: C

Explanation:
Carry out due diligence is the correct answer. The other answers are incorrect:
- ensure all 46 suppliers publish an Anti Slavery Statement in line with the Modern Slavery Act is wrong because thequestionstates that some suppliers are international. The legislation is UK, meaning international suppliers don't have to do the statement. It also only applies to companies with a turnover of £36m, and some of Zeb's suppliers may be smaller than this.
- work with less suppliers to reduce the risk of slavery entering the supply chain is a silly answer be-cause Zeb probably needs all of his suppliers. There's probably a reason he uses that many.
- ask all suppliers to get Fair Trade accredited is also a silly answer. Fair Trade only exists in some industries such as cocoa and bananas. Zig Zag Zips is in manufacturing so it's probably not going to be able to fairtrade accredit some of the stuff it buys.

NEW QUESTION # 166
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Ethical and Responsible Sourcing Exam Questions Can Help You Gain Massive Knowledge of L4M4 Certification

CIPS L4M4 Exam Syllabus Topics:

Exam L4M4 Assessment & Online L4M4 Version

CIPS Ethical and Responsible Sourcing Sample Questions (Q161-Q166):