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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Ethical and Responsible Sourcing |
| Exam Number: | L4M4 |
| Exam Price: | USD 230 - 280 |
| Real Exam Qty: | 60 |
| Exam Format: | Multiple Choice, Objective Response, Scenario-based |
| Certificate Validity Period: | 3 years |
| Exam Duration: | 90 minutes |
| Passing Score: | 70% |
| Available Languages: | English, Spanish, French, Chinese, Arabic |
| Related Certifications: | L4M5 Commercial Negotiation L4M8 Procurement and Supply in Practice L4M2 Defining Business Need L4M7 Whole Life Asset Management L4M6 Supplier Relationships L4M3 Commercial Contracting L4M1 Scope and Influence of Procurement and Supply |
| Recommended Training: | CIPS Official Study Guide & Learning Materials CIPS Approved Training Providers |
| Exam Registration: | CIPS Official Registration |
| Sample Questions: | CIPS L4M4 Sample Questions |
| Exam Way: | Computer-based online or on-site at authorized test centers |
| Pre Condition: | No formal prerequisites; suitable for professionals with 1β2 years of procurement experience or relevant education |
| Official Syllabus URL: | https://www.cips.org/qualifications/diploma-in-procurement-supply/ethical-and-responsible-sourcing |
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NEW QUESTION # 211
What are the risks of outsourcing?
* Loss of control of project
* Loss of assets
* Loss of future business opportunities
* Loss of private information
Answer: C
Explanation:
Loss of control and loss of private information are significant risks in outsourcing. Responsible sourcing involves mitigating these risks by setting clear agreements, monitoring, and safeguarding sensitive information to maintain control over outsourced activities.
NEW QUESTION # 212
The balance sheet (statement of financial position) is one of the financial statements used in assessing a supplier's financial stability. The balance sheet contains information on such items as ...
Answer: B
Explanation:
A balance sheet sets out assets, liabilities and equity at a point in time. Current (short-term) liabilities such as overdrafts and tax creditors are part of it. Cash receipts (A) sit in cash-flow statements; expenses and profit (B) are in the income statement; ratios (C) are derived metrics, not items on the statement.
Reference: CIPS L4M4 Study Guide (v2): LO "Application" - supplier financial appraisal; interpreting the statement of financial position.
NEW QUESTION # 213
Other than price, what should a buyer consider when evaluating supplier quotations?
* Lead times
* Add-on costs
* Wastage rates
* Past performance
Answer: C
Explanation:
When evaluating quotations, responsible buyers must look beyond headline price. Lead times (1) affect operational continuity. Add-on costs (2) (e.g., packaging, delivery, handling) can significantly change total cost. Past performance (4) demonstrates reliability and quality, crucial for ethical and sustainable sourcing.
Wastage rates (3) may be relevant but are typically assessed in performance monitoring, not initial quotation evaluation. This holistic view aligns with the total cost of ownership (TCO) approach promoted by CIPS, ensuring procurement decisions account for both direct and indirect impacts.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - quotation evaluation and TCO analysis.
NEW QUESTION # 214
Weighted points systems can be applied to evaluate and compare potential suppliers. For which of the following factors would it be appropriate to use this method?
* Financial stability
* Supplier reliability
* Market demand
* Negotiation styles
Answer: C
Explanation:
Financial stability and supplier reliability are quantifiable factors suited to weighted points systems, allowing procurement professionals to objectively assess and compare suppliers. This method aligns with ethical sourcing practices by promoting fairness and transparency in supplier selection.
NEW QUESTION # 215
Why would you use a credit score to appraise a supplier?
Answer: B
Explanation:
A credit rating generates a score which reflects 'the level of risk an organisation poses when dealing with other businesses'. It's saying how risky it is to loan them money or do business with them by looking at how good they are at paying people. So a high credit rating will say they're good at paying back their loans and paying their suppliers on time. A poor credit rating will say they often miss payments or pay late.
A credit rating will not tell you how much money they have, or details on their prices. Credit scores looks at purely financial data so wouldn't help you analyse whether their business practices are ethical or not.
NEW QUESTION # 216
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