Exam (elaborations)
CIPS L4M1 SAMPLE QUESTIONS AND ANSWERS RATED A.
- Course
- Institution
CIPS L4M1 SAMPLE QUESTIONS AND ANSWERS RATED A.
[Show more]
Content preview
CIPS L4M1 SAMPLE QUESTIONS AND ANSWERSRATED A.
Value for money is only about price
Correct Answer -False
True or False: Fixed assets to an organization are usually capital
purchases
Correct Answer -True
True or False: Added value includes innovation from suppliers
Correct Answer -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 Answer -Pre-Contract
The ____ stage of the procurement cycle includes contract, supplier and
end of life management.
Correct Answer -Post-Contract
Put the following in the correct order: 1. E-sourcing 2. E-paying 3. E-
ordering 4.E-requisitioning
Correct Answer -4,1,3,2
Achieving ___ against processes can add value within procurement
Correct Answer -Compliance
, Which international body is responsible for bringing Governments together
across the globe to create fair and ethical conditions within organisations
Correct Answer -International Labour Organisation
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 Answer -3. ERP systems eliminate repetition in processes
Innovation, sustainability, meeting KPI's and market development are all
examples of added ___?
Correct Answer -Value
____ costs are not directly attributable to the end product or service
Correct Answer -Indirect
Which of the following are recognised categories of expenditure within
procurement: Direct, Indirect, Capital, Operational, Fixed, Variable
Correct Answer -Direct, Indirect, Capital and Operational
The correct management style according to Mendelow for High Interest
Low Power stakeholders is ____
Correct Answer -Keep informed
The correct management style according to Mendelow for High Interest
High Power stakeholders is ____
Correct Answer -Manage Closely
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 saraciousstuvia. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now