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CIPS L4M4 Exam
- 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: This section examines analyzing market data, obtaining quotations/tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.
- Topic 3: 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.
Free CIPS L4M4 Exam Actual Questions
The questions for L4M4 were last updated On Apr. 25, 2024
Which of the following payment mechanisms is most beneficial to the buyer?
Open account (aka credit account) is most beneficial to the buyer. The supplier delivers the goods then the buyer pays.
Cash in advance is most beneficial to the supplier. The buyer pays for the item before receiving it.
This is a known exam topic.
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?
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.
Which of the following is not a indices that measures economic data?
ISO isn't an indices- it stands for 'International Labour Association'.
The others are all indices that measure economic data; consumer price index, producer price index and gross domestic product.
Bribery is considered an unethical business practice. What constitutes a bribe?
A bribe is anything that is of value to the recipient. It's commonly money, but could also be an item such as a car, or doing someone a favour such as hiring their son.
According to the CIPS code of conduct, which laws should a procurement professional adhere to?
The CIPS Code of Conduct says to adhere to all laws of countries in which I practice. So if you're in the UK and procure stuff from China, you need to abide by both UK and Chinese laws, not just UK laws.
There's no international procurement laws- these are all different for different countries.
ILO doesn't publish laws.
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