CIPS exam bundled 2024/2025

CIPS L4M4 LO1 What is sourcing? - correct answer Sourcing is the location, acquisition and management of all the vital inputs required for an organization to operate. What is tactical/operational sourcing? - correct answer Low-level decision making High profit, low risk items Short-term proj...

CIPS L4M2When should Competitive bidding not be used? - correct answer Where price cannot be establish with certainty Where price isn't the only variable Where there are significant set up costs involved Which 3 types of Whole Life Costing (WLC) models can be used in the planning stage? - co...

CIPS L4M2Re-buy - correct answer It is not necessary to specify a new specification or to source the market. Call-off or framework agreement. A preferred supplier is in place Modified Buy - correct answer Review of existing contract requirements and making any necessary amendments such as to bu...

CIPS L4M2 LO1what is a business case? - correct answer a document that sets out the justification for undertaking a project on commercial grounds what is a straight re-buy? - correct answer the purchase of an item that was purchased last time there was a need rather than considering an alternat...

CIPS L4M2 Exam Questions Question: 1 The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct? - correct answer A. No, in market economy, the state decides the price of all goods and services B. Yes, each stage in product life cycle requires...

CIPS L4M2 Defining Business NeedFixed Cost (FC) - correct answer Costs that remain the same irrespective of business activity or volume Variable Cost (VC) - correct answer Costs that vary with the level of output Market Factors - correct answer Objectives Drivers Governance Ownership Co...

CIPS L4M2 Defining Business Need Types of Purchases new buy, straight rebuy, modified rebuy Straight rebuy purchase Routine purchases of the same products under approximately the same terms of sale Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds...

CIPS L4M2 3.3 Identify the risks that can result from inadequate specifications and mitigation approachesDescribe how a zero-based approach works. Method to identify how to simplify the parts structure in a range of products What impact does standardization have on unit costs? cost reduction ...

CIPS L4M1Stakeholders - correct answer In any activity an organization undertakes, whether strategic, operational or tactical, the activity can only be successful with the input, commitment and support of its key stakeholders. Gaining and maintaining the support and commitment of stakeholders requi...

CIPS L4M1 Scope and Influence of Procurement and SupplyWhat is Procurement? - correct answer Procurement is a STRATEGIC function of a business obtains something Tangible as goods or Intangible as services. Include Purchasing Inventory, Logistics, Supply, Waste Management Quality, Cost, Added Value ...

CIPS L4M1 - Question & Answer Past exam questionsO1. Outline FIVE differences between purchasing goods and purchasing services. - correct answer 1. Goods are tangible, services are intangible: 2. Services cannot be separated from their supplier: 3. Heterogeneity: goods are usually uniform in natu...

CIPS L4M1 - Key Phrasesartificial intelligence - correct answer Machines that display human-like intelligence Assets - correct answer resources owned by a business audit - correct answer A systematic inspection of a process or procedure to assess compliance with requirements or regulations ...

Cips L4 M4Selection Criteria Examples - correct answer Quality assurance Environmental awareness + Sustainability Technical Capabilities System Capabilities Labor Standards Financial Capabilities Credit rating scores Selection criteria - correct answer The minimum requirements or standar...

CIPS L4 D5 - LO1 VALUE-ADDING SUPPLY CHAIN RELATIONSHIPS (C4 - TEXTBOOK)List the primary & secondary activities in Porter's Value Chain Model (1.3, Figure 4.1) - correct answer 'VC' Model depicts primary and secondary activities of an organization through which value is created: Support Activi...

CIPS L3M2Brand - correct answer An organizations identity total cost approach - correct answer An approach that considers all the costs associated with procuring an item The 5 rights of Procurement - correct answer Quantity, quality, time, place, price Lifetime costing - correct answer ...

CIPS L3M1Private incorporated companies are... - correct answer Seperate from their owners Private unincorporated companies have... - correct answer No legal distinction from their owners Sole trader - correct answer Those with exclusive ownership of a business Partnerships - correct an...

CIPS L1M1 Scope and Influence of Procurement and Supply P 2/4 Procurement cycle 1-7 1. Define needs 2. Market analysis/commodity 3. Create Strategy 4. Pre-procurement 5. Prepare documents 6. Select supplier 7. Issue Invite to tender or RFQ Procurement cycle 8-13 8. Bid tender/quote eva...

CIPS D1 QuestionsQ1 (a) Define the term 'stakeholder' in relation to an organization. (5 marks) (b) Describe the interests of TWO internal stakeholders of the procurement function. (10 marks) (c) Describe how the TWO internal stakeholders, identified in part (b), might contribute to procuremen...

CIPS - Module sevenSummary Offences - correct answer Can only be heard and decided by a Magistrate in Magistrates' Court. Less serious than indictable offences, penalties not as great. Chapter 3 Criminal Procedure Act 2009 s 27 - may be heard and determined summarily. Summary Offences - cor...

CIPS - L4M3 Commercial Contracting - CHAPTER 1Difference between Estimate, Quote and Tender (1.1, p. 2) - correct answer Estimate = has no legal standing, simply a 'best guess' by the supplier. *NOT a firm offer*. should be avoided within a commercial contract Tender / Quotation = *both are firm...