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CIPS L4M4 Exam Syllabus Topics:

SectionWeightObjectives
Understand ethical and responsible sourcing principles and practices25%- Ethical frameworks and concepts
  • 1. Conflict of interest and transparency
    • 2. CIPS Code of Ethics
      • 3. Fairness, integrity and accountability
        - Sustainable and responsible sourcing
        • 1. Audit, monitoring and improvement
          • 2. Social, environmental and economic impact
            • 3. Supplier development and collaboration
              Understand key processes to analyse potential external suppliers25%- Supplier appraisal and evaluation
              • 1. Financial stability and risk assessment
                • 2. Quality and performance standards
                  • 3. Technical and operational capability
                    - Market analysis and intelligence
                    • 1. Supplier capacity and capability assessment
                      • 2. Collecting and interpreting market data
                        Understand options for sourcing requirements from suppliers25%- Tendering and selection processes
                        • 1. Award criteria and evaluation methods
                          • 2. Open, restricted and negotiated procedures
                            - Sourcing approaches and strategies
                            • 1. Insourcing, outsourcing and offshoring
                              • 2. Single, multiple and sole sourcing
                                • 3. Domestic vs international sourcing
                                  Understand compliance issues when sourcing from suppliers25%- Legislative and regulatory requirements
                                  • 1. Ethical standards and codes of conduct
                                    • 2. Labour laws, human rights and anti-corruption
                                      • 3. Environmental regulations and sustainability
                                        - Organisational policies and procedures
                                        • 1. Code of ethics and professional conduct
                                          • 2. Governance and accountability frameworks

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                                            CIPS Ethical and Responsible Sourcing Sample Questions (Q16-Q21):

                                            NEW QUESTION # 16
                                            Azram, a facilities category buyer for UK police, is sourcing uniforms internationally. Concerned about exchange rate risk, how can Azram remove this risk?

                                            Answer: D

                                            Explanation:
                                            Exchange rate fluctuations can significantly affect the cost of international contracts. The most direct way to eliminate this risk is to agree prices in the buyer's home currency (GBP Sterling). This passes the risk to the supplier, who must manage currency exposures through hedging or local arrangements. Using the exchange rate at delivery (C) retains exposure for the buyer, while financial analysis (A) and competitive tendering (B) don't address exchange risk. Responsible sourcing requires buyers to consider financial risk-sharing mechanisms as part of contract negotiations.
                                            Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - managing exchange rate risk in international sourcing.


                                            NEW QUESTION # 17
                                            Which of the following are secondary research sources that can be used when investigating markets and suppliers? Select THREE that apply.

                                            Answer: A,D,E

                                            Explanation:
                                            Professional magazines, economic indices, and supplier websites provide secondary data that can be useful in understanding market trends and supplier performance. Responsible sourcing often relies on a mix of primary and secondary data sources to make informed decisions about supplier selection.


                                            NEW QUESTION # 18
                                            Which of the following would you expect to find in an Invitation to Tender? Select THREE

                                            Answer: A,E

                                            Explanation:
                                            An ITT would include details on the awarding body (usually a brief overview of the buyer), the deadline (bids must be received by a certain date) and qualifications required (such as ISO requirements or competency certificates of staff members if it's a service contract). You wouldn't find pricing schedules in an ITT (this would be provided by the supplier in response to the ITT), nor would you find risk assessments (a supplier might be asked to provide one as part of the quality assessment of the tender though).
                                            Invitation To Tender Simply Explained I Thornton & Lowe (thorntonandlowe.com)


                                            NEW QUESTION # 19
                                            Economic indices track a market's stability and health. One of these indices is the Consumer Price Index (CPI). Which of the following are aspects of the Consumer Price Index? Select TWO that apply.

                                            Answer: B,E

                                            Explanation:
                                            The Consumer Price Index (CPI) measures the average change over time in the prices paid by consumers for a market basket of goods and services. It reflects price variations in specific geographical locations and tracks the weighted average prices of selected commodities, providing insights into inflation and cost of living.
                                            Exact Extract from Study Guide:
                                            "The Consumer Price Index (CPI) tracks variations in prices for a range of consumer goods and services over time, in a particular geographic location."


                                            NEW QUESTION # 20
                                            Commodities can be traded on a stock exchange and are generally divided into one of four categories. Which of the following is not one of these four categories?

                                            Answer: C

                                            Explanation:
                                            Plastic is not a commodity. A commodity is something that is naturally occurring and plastic is manufactured.
                                            The other category of commodity is agriculture.


                                            NEW QUESTION # 21
                                            ......

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