100% Pass Quiz Fantastic L4M4 - Ethical and Responsible Sourcing New Practice Materials

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CIPS L4M4 Exam Syllabus Topics:

Topic	Details
Topic 1	Understand compliance issues when sourcing from suppliers: It explores legislative, regulatory, and organizational requirements for sourcing. It compares the use of audit and other mechanism of feedback.
Topic 2	Understand options for sourcing requirements from suppliers: This section covers the sourcing process, approaches, options, and award criteria for obtaining requirements from suppliers. The sub-topics provide a foundation for strategic sourcing.
Topic 3	Understand the key processes that can be applied to the analysis of potential external suppliers:
Topic 4	This section examines analyzing market data, obtaining quotations tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.

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After successful competition of the L4M4 certification, the certified candidates can put their career on the right track and achieve their professional career objectives in a short time period. However, to pass the L4M4 Exam you have to prepare well. For the quick L4M4 exam preparation the L4M4 Questions are the right choice.

CIPS Ethical and Responsible Sourcing Sample Questions (Q257-Q262):

NEW QUESTION # 257
Under what circumstances can a buyer reduce timescales for a tender in the Public Sector?

A. if the competition is restricted
B. if tenders are received by electronic submission exclusively
C. if there are fewer than 5 bidders
D. when the tender is of low value

Answer: B

Explanation:
If tenders are received by electronic submission exclusively, the buyer can reduce the timescale. On average the time for a standard tender submission can be reduced by 5 days if bids are submitted electronically.
*Note* this is based off current PCR Regs 2015 which are being superseded in October 2024 by new legislation. We currently don't know what the new regs will say on this. If it's different, my best guess is CIPS will remove any question about it from their exam- because the study guide would be wrong and that would lead to complaints.

NEW QUESTION # 258
Intra-company trading allows business units within a large enterprise to supply goods or services to another.
What are the likely objectives of intra-company trading?
Enhances production capacity utilisation
Offsets some of the fixed costs of the supplying entity
Compensates the supplying unit for the less effective technology applied Ensures internal technology always out-performs that of external suppliers

A. 2 and 4 only
B. 1 and 3 only
C. 1 and 2 only
D. 2 and 3 only

Answer: C

Explanation:
Intra-company trading aims to optimize internal resources by enhancing production capacity utilization and offsetting fixed costs. By supplying goods or services internally, organizations can achieve economies of scale and better allocate resources. However, compensating for less effective technology or ensuring superior internal technology over external suppliers are not primary objectives of intra-company trading.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 1.1.2: Make or buy decisions and the role of intra-company trading

NEW QUESTION # 259
Foresttors Plc is negotiating a new contract for the procurement of timber, a crucial component of its production operations. The company has incorporated environmental, social, and governance (ESG) reporting requirements into the contractual terms. Is this a valid approach?

A. Yes. This helps to demonstrate the importance of compliance with ESG
B. Yes, providing the contract does not require a supplier to do anything differently for ESG than they have done previously
C. No. ESG is not within the scope of a contractual document and should always be treated informally
D. No. Suppliers cannot be legally responsible for ESG compliance; this should be the buying organisation

Answer: A

Explanation:
Embedding ESG/ethical clauses and reporting in contracts is a key mechanism to implement responsible sourcing, set clear expectations, and enable monitoring and remedies. Suppliers can be held to contractual ESG obligations where these are defined and agreed.
Reference: CIPS L4M4 Study Guide (v2): LO "Implementation" - contractual clauses for ethics/ESG, monitoring and enforcement.

NEW QUESTION # 260
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.

A. The CPI tracks the performance of selected companies in different stock markets
B. The CPI shows that prices are influenced by tax thresholds rates rather than inflation rates
C. The CPI helps in calculating the exchange rates and tariffs used in setting prices for imports
D. The CPI tracks the weighted average prices of selected commodities within the country
E. The CPI tracks variations in prices in a particular geographical location

Answer: D,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 # 261
When using a 'credit account' payment mechanism, when does a supplier receive payment for the goods?

A. before the order is placed
B. after delivery
C. when they receive the PO
D. in advance of delivery

Answer: B

Explanation:
In a 'Credit Account' payment mechanism- the supplier receives payment after the goods are delivered, in line with agreed payment terms (which may be 30 days or something like that).

NEW QUESTION # 262
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