CIPS L4M1-Exam Questions and Answers
True or False: Fixed assets to an organisation are usually capital purchases Correct AnsTrue
True or False: Added value includes innovation from suppliers Correct Ans-Tru
True or False: Fixed assets to an organisation are usually capital purchases Correct Ans-
True
True or False: Added value includes innovation from suppliers Correct Ans-True
The _____ stage of the procurement cycle includes understanding and defining the need,
strategy development and issuing invitations to tender, or requests for quotation. Correct
Ans-Pre-Contract
The ____ stage of the procurement cycle includes contract, supplier and end of life
management. Correct Ans-Post-Contract
Put the following in the correct order: 1. E-sourcing 2. E-paying 3. E-ordering 4.E-requisitioning
Correct Ans-4,1,3,2
Achieving ___ against processes can add value within procurement Correct Ans-
Compliance
Which international body is responsible for bringing Governments together across the globe
to create fair and ethical conditions within organisations Correct Ans-International Labour
Organisation
, CIPS L4M1-Exam Questions and Answers
Which is a benefit of using an ERP system?
1. IERP systems cost a lot of money
2. One ERP system works for all organisations
3. ERP systems eliminate repetition in processes
4. ERP shares organisations data externally Correct Ans-3. ERP systems eliminate
repetition in processes
A _____ Procurement structure has one main office where the purchasing is conducted. A
_______ structure has buyers who are responsible for procurement across the organisation.
Structures which choose to use two or more styles are referred to as ___________. Correct
Ans-Centralised, Devolved, Hybrids
Innovation, sustainability, meeting KPI's and market development are all examples of added
___? Correct Ans-Value
____ costs are not directly attributable to the end product or service Correct Ans-Indirect
Which of the following are recognised categories of expenditure within procurement: Direct,
Indirect, Capital, Operational, Fixed, Variable Correct Ans-Direct, Indirect, Capital and
Operational
The correct management style according to Mendelow for High Interest Low Power
stakeholders is ____ Correct Ans-Keep informed
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GOLDTUTORS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
