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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | CIPS Level 4 Diploma in Procurement and Supply โ L4M2 Defining Business Needs |
| Exam Number: | L4M2 |
| Exam Format: | Multiple-choice questions, Computer-based objective test |
| Real Exam Qty: | 60 |
| Certificate Validity Period: | No expiry (qualification does not expire once achieved) |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply CIPS Level 5 Advanced Diploma in Procurement and Supply |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Passing Score: | 70% |
| Recommended Training: | CIPS Official Study Resources CIPS Level 4 Learning Support |
| Exam Registration: | Pearson VUE CIPS Exams Booking CIPS Qualifications Registration |
| Sample Questions: | CIPS L4M2 Sample Questions |
| Exam Way: | Computer-based exam delivered via authorised test centres or remote proctoring (Pearson VUE) |
| Pre Condition: | No formal prerequisites required, but completion of CIPS Level 3 is recommended for progression into Level 4. |
| Official Syllabus URL: | https://www.cips.org/qualifications/ |
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In order to pass the CIPS L4M2 exam, candidates must have a good understanding of the key concepts and principles involved in defining business needs. They must also be familiar with the various techniques used to gather and analyze requirements, as well as the tools and methods used to evaluate and validate requirements. Candidates must also be able to communicate requirements effectively to stakeholders and prioritize them based on their importance. With the right preparation and study, candidates can successfully pass the CIPS L4M2 Exam and advance their career in business analysis.
NEW QUESTION # 209
Which of the following content should a performance specification feature? Select TWO that apply.
Answer: B,D
NEW QUESTION # 210
Apple's CPO is planning a budget for purchasing carbon-free aluminium next year. There are 27.4 tonnes of aluminum in stock, while Apple will need 200 tonnes for production next year and double inventory for production in the following year. How much aluminum will Apple need to purchase in next year?
Answer: D
Explanation:
The quantity of aluminium Apple needs to buy is calculated as follows:
Quantity needed for production + the inventory needed at the end of the year - inventory at start of the year That formula is quantified as: 200 + 54.8 - 27.4 = 227.4
NEW QUESTION # 211
A business case allows a company to:
Answer: C
Explanation:
Comprehensive and Detailed Explanation (paraphrased from CIPS L4M2 content) In CIPS L4M2, a business case is defined as the document or analysis that:
* Sets out the need or problem,
* Identifies and compares options (including "do nothing"),
* Assesses the costs, benefits, risks and impacts of each option,
* Provides a clear recommendation supported by evidence.
Its primary purpose is to provide decision-makers with a justification for investment or change, based on a structured evaluation.
Thus:
* Option A - correctly describes the main purpose: assessing costs and benefits of options.
* Options B, C and D - these are decisions or outputs that might be informed by a business case, but they are not what a business case "allows" by definition.
* Approving sourcing strategies or supplier lists is normally part of procurement governance, influenced by the business case but not the same as it.
* Approving final spend is a financial approval decision that follows from the business case evaluation.
Relevant CIPS L4M2 areas:
* Structure and purpose of a business case
* Option appraisal, costs, benefits and risk analysis
* The role of the business case in justifying external sourcing
NEW QUESTION # 212
The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct?
Answer: A
Explanation:
A firm also has to look at a myriad of other factors before setting its prices. Those factors include the offering's costs, the demand, the customers whose needs it is designed to meet, the external environment-such as the competition, the economy, and government regulations-and other aspects of the marketing mix, such as the nature of the offering, the current stage of its product life cycle, and its promotion and distribution. If a company plans to sell its products or services in international markets, research on the factors for each market must be analyzed before setting prices. Organizations must understand buyers, competitors, the economic conditions, and political regulations in other markets before they can compete successfully.
[...]
The costs of the product-its inputs-including the amount spent on product development, testing, and packaging required have to be taken into account when a pricing decision is made. So do the costs related to promotion and distribution. For example, when a new offering is launched, its promotion costs can be very high because people need to be made aware that it exists. Thus, the offering's stage in the product life cycle can affect its price.
Reference:
- CIPS study guide page 90-91
- 15.2 Factors That Affect Pricing Decisions - Principles of Marketing (umn.edu) LO 2, AC 2.2
NEW QUESTION # 213
The procurement team of an IT hardware manufacturer has been set a target by senior management to reduce the rates paid to the sole supplier of a new and innovative power-saving battery. Which action should the procurement team first consider?
Answer: A
Explanation:
Detailed Explanation:Dual or multiple sourcing introduces competition, reducing the sole supplier's bargaining power and leading to cost reductions. Framework agreements (A) or economies of scale (D) may not address the immediate need to reduce rates. Reference: CIPS Level 4, Sourcing Strategies.
NEW QUESTION # 214
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