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CIPS Quiz Questions and Complete Solutions

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Acceptance testing A form of testing used to determine if the requirements of a specification or contract are met Accrual An adjustment made to a set of financial accounts to reflect activity that has occurred but for which cash has not yet been received or paid Annual planning cycle Planning involves a number of activities, such as analysis of opportunities, setting aims, exploring options, producing detailed plans and reviewing the plan against expectations. A cycle of activities as the ...

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CIPS L5M9 Operations Management LO1 Review Questions and Correct Answers

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Operations Management The processes of managing the resources and processes involved in the acquisition and transformation of inputs and the distribution of outputs. Five Key Performance Dimensions / Performance Objectives - Slack and Brandon-Jones 1. Quality 2. Speed 3. Dependability 4. Flexibility 5. Cost Quality Producing products and services that satisfy customer needs. Speed Ensuring a short lapse of time between when orders are made and fulfilled. Dependability Producing p...

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CIPS L4M8 Chapter 1 Review Questions and Correct Answers

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The 13 Stages of the Procurement Cycle Stage 1 - Identify need and develop spec. Stage 2 - Market commodity/make or buy options. Stage 3 - Develop Strategy/Plan Stage 4 - Pre procurement market tests Stage 5 - Prepare Documentation Stage 6 - Supplier Selection Stage 7 - Send ITT Stage 8 - Receive & Evaluate Bids Stage 9 - Award contract Stage 10 - Warehouse/logistics prep Stage 11 - Contract management Stage 12 - Relationship management Stage 13 - End of life/asset management Pr...

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CIPS Level 4 Module 1 Practice Questions and Correct Answers

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The Purchasing process 1. Define Specification. 2. Select Supplier 3. Contract Agreement 4. Ordering 5. Expediting 6. Evaluation Follow up Definition of Procurement & Supply recognition of the fact that the purchasing function has a role in not just "buying inputs" but in "securing supply" Direct Costs These are costs which can be identified directly with the production of a good or service; e.g. raw materials. Usually strategic or leverae suppliers Indirect Costs Thes...

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CIPS Level 3 Module 1 Test Questions and Correct Answers

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What does STEEPLED stand for? (External factors - macro environment) Sociological, technological, economic, environmental, political, legal, ethical, demographic How many employees does a micro business have? Less than 10 How many employees does a small business have? Less than 50 How many employees does a medium business have? 250 or fewer What are the support activities of porters value chain model? Firm infrastructure, human resource management, technology development and procurement Wha...

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CIPS L4M1 Practice Questions and Correct Answers

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Define procurement Procurement is the process of obtaining goods or services through following a process that includes identifying the need through to goods or services being delivered. Define purchasing Purchasing is the act of physically ordering and buying something. Define supply Supply is the infrastructure which ensures goods/services can be delivered Define value Value is the worth of something, the difference between what we pay and what a potential customer is willing to pay What is...

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BMW Associate Level ASE Test Questions and Correct Answers

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A lifting pad must be in place to lift a BMW vehicle, T or F? True Under which section in TIS is the User Manual for the DEUTRONIC battery charger located? Tools and Equipment Regarding BMW instrument cluster test function. Tech A states the cluster can be unlocked, and a test function can be used to display fuel level reading in liters. Tech B states current BMW instrument clusters are unlocked by using sum of the last 5 digits of the VIN Both A and B Which BMW Vehicles use LI-Ion Battery?...

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NUR 130 Final- Perfusion Study Guide with Questions and Correct Answers

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1. The nurse is caring for a patient who has been diagnosed with an elevated cholesterol level. The nurse is aware that plaque on the inner lumen of arteries is composed chiefly of what? A) Lipids and fibrous tissue B) White blood cells C) Lipoproteins D) High-density cholesterol A 2. A patient presents to the walk-in clinic complaining of intermittent chest pain on exertion, which is eventually attributed to angina. The nurse should inform the patient that angina is most often attributable to ...

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NUR 130 Final- Metabolism Practice Questions and Correct Answers

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1. A patient with type 1 diabetes has told the nurse that his most recent urine test for ketones was positive. What is the nurses most plausible conclusion based on this assessment finding? A) The patient should withhold his next scheduled dose of insulin. B) The patient should promptly eat some protein and carbohydrates. C) The patients insulin levels are inadequate. D) The patient would benefit from a dose of metformin (Glucophage). C 2. A patient presents to the clinic complaining of symptom...

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Nursing 130 - Practice Test 1 Study Questions and Correct Answers

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d You are participating in a clinical care coordination conference for a patient with terminal cancer. You talk with your colleagues about using the nursing code of ethics for professional registered nurses to guide care decisions. A nonnursing colleague asks about this code. Which of the following statements best describes this code? a. Improves self-health care b. protects the patient's confidentiality c. ensures identical care to all patients d. defines the principles of right and wrong t...

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