CIPS L3M2 Exam - Topic 1 Question 8 Discussion

Actual exam question for CIPS's L3M2 exam

Question #: 8
Topic #: 1

[All L3M2 Questions]

The letters 'EOQ' refer to:

AA person's level of 'emotional intelligence'

BThe notion of there being a best time to order

CThe idea of an optimum quantity to order

DThe idea of an optimum quality to order

Show Suggested Answer

Suggested Answer: C

The Economic Order Quantity is a formula which attempts to calculate the most efficient quantity to order at any given time, by attempting to reconcile the cost of stockholding and the cost of plac-ing an order. This could then have implications for the timing of an order being placed.

The cost of holding stock can be reasonably accurately calculated and agreed with one's peers. However, determining the cost of placing an order can keep colleagues up late into the night, and can be a great topic to liven up a sleepy procurement / finance function.

by Andrew at Apr 25, 2024, 09:21 AM

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Daron

3 months ago

I thought EOQ was about timing, not just quantity!

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Shawnda

3 months ago

Wait, is it really just about quantity? Seems too simple.

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Royce

3 months ago

Yup, C is the right answer!

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Stephaine

4 months ago

Definitely C, it's all about the optimum quantity!

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Daniela

4 months ago

EOQ stands for Economic Order Quantity.

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Zoila

4 months ago

I practiced a similar question where EOQ was definitely about the quantity to order, so I’m confident it’s option C.

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Amalia

4 months ago

I’m really uncertain about this one. I thought EOQ was about emotional intelligence, but that doesn’t seem right now.

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Ciara

4 months ago

I remember something about ordering at the right time, but I’m not sure if that’s what EOQ means. Could it be option B?

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Karina

5 months ago

I think EOQ stands for 'Economic Order Quantity,' which relates to the optimum quantity to order, so I’m leaning towards option C.

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Burma

5 months ago

I'm a little confused by this one. The options don't seem to clearly match up with what 'EOQ' could mean. I'll have to guess and hope I get it right.

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Jamal

5 months ago

Okay, I've got this. 'EOQ' must refer to the 'economic order quantity' - the optimal amount to order to minimize inventory costs. I'm confident that's the right answer.

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Weldon

5 months ago

Hmm, 'EOQ' - I'm not totally sure what that stands for. I'll have to think about the options and see if I can eliminate any that don't seem to fit.

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Jolene

5 months ago

This seems like a straightforward operations management question. I'll think through the options carefully and choose the one that best fits the acronym 'EOQ'.

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Zachary

5 months ago

I think I know the answer to this one. The two methods are B and C - using xAPI to push a JSON panel configuration, and creating a panel using the device UI Extensions Editor.

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Magnolia

5 months ago

I remember the FIPS 199 impact levels are Low, Moderate, and High. That's a straightforward set of options, so I think I can answer this question accurately.

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Jenifer

5 months ago

Okay, I think I've got this. The key is understanding that Meraki devices are cloud-managed, so if they can't reach the cloud, their management functions will be interrupted, but the network should continue operating.

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Haydee

5 months ago

Hmm, I'm a bit confused by the options. I'm not sure if I fully understand the difference between the translation pattern and the route pattern. I'll need to double-check my notes on those concepts.

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