L4M4 Regualer Update, L4M4 Latest Practice Materials

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CIPS L4M4 Exam Syllabus Topics:

Topic	Details
Topic 1	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.
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	Understand the key processes that can be applied to the analysis of potential external suppliers:
Topic 4	This section examines analyzing market data, obtaining quotations tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.

CIPS Ethical and Responsible Sourcing Sample Questions (Q68-Q73):

NEW QUESTION # 68
Ramesh is a procurement manager who is looking at his supplier base. He is pursuing a sourcing strategy with the aim of enabling logistical cost reductions. He has made the decision to scale-down his supplier base and purchase from one supplier.
Which type of sourcing arrangement has Ramesh began?

A. dual
B. sole
C. multiple
D. single

Answer: D

NEW QUESTION # 69
Tracey Collum is a procurement professional and married to Nick Collum.
Tracey has been leading a tender for a new radar system, where four suppliers have submitted their bids.
After the bids were received, Nick joined one of the suppliers (Supplier X) as the project director for radar systems.
Nick has asked Tracey to award the contract to Supplier X. What should Tracey do?

A. Remove Supplier X from the tender due to a conflict of interest and continue with the tender
B. Award the contract to Supplier X because Nick will be promoted if Supplier X wins the contract
C. Award the contract to Supplier X because Tracey can ask for a better price because they are married
D. Ask to be removed from the tender due to a conflict of interest and complete a conflict of interest form

Answer: D

Explanation:
To maintain integrity and avoid conflicts of interest, Tracey should declare the conflict and remove herself from the tender process. Ethical sourcing practices emphasize transparency and fairness, which prevent potential biases and maintain trust within procurement processes.

NEW QUESTION # 70
What are the risks of outsourcing?
* Loss of control of project
* Loss of assets
* Loss of future business opportunities
* Loss of private information

A. 1 and 2 only
B. 2 and 3 only
C. 3 and 4 only
D. 1 and 4 only

Answer: D

Explanation:
Loss of control and loss of private information are significant risks in outsourcing. Responsible sourcing involves mitigating these risks by setting clear agreements, monitoring, and safeguarding sensitive information to maintain control over outsourced activities.

NEW QUESTION # 71
If a commodity index shows that the price of a commodity is continually rising, what does this indicate about the market?

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

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 # 72
What is the best way to demonstrate that your organisation does not tolerate bribery and corruption?

A. Requesting your supplier's ethical policies on an annual basis
B. Not working with suppliers who you have heard have a reputation for bribery and corruption
C. Having full anti-bribery training, policies, and procedures in place
D. Asking all suppliers to read your organisation's policy on anti-bribery and corruption

Answer: C

Explanation:
Implementing full anti-bribery training, policies, and procedures demonstrates a proactive stance against bribery and corruption. Ethical sourcing principles encourage organisations to institutionalise comprehensive anti-bribery measures to ensure transparency, fairness, and compliance within the supply chain, reducing the risk of corrupt practices.

NEW QUESTION # 73
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L4M4 Regualer Update, L4M4 Latest Practice Materials

CIPS L4M4 Latest Practice Materials - L4M4 Best Practice

CIPS L4M4 Exam Syllabus Topics:

CIPS Ethical and Responsible Sourcing Sample Questions (Q68-Q73):