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ISM CORe Exam Overview:
| Certification Vendor: | Institute for Supply Management (ISM) |
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| Exam Name: | Supply Management CORe Exam |
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| Exam Number: | CORE |
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| Exam Price: | $495 (ISM Member), $795 (Non-Member) |
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| Related Certifications: | CPSD Supply Management Integration Leadership and Transformation in Supply Management |
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| Passing Score: | 400 (scaled 100-600) |
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| Real Exam Qty: | 180 (165 scored, 15 unscored) |
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| Available Languages: | English, Simplified Chinese, Korean |
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| Exam Duration: | 180 minutes |
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| Exam Format: | Computer-based, Multiple-choice |
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| Certificate Validity Period: | 4 years (exam score); APSM valid 5 years |
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| Recommended Training: | ISM Study Materials ISM Guided Learning |
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| Exam Registration: | ISM Official Registration Pearson VUE Scheduling |
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| Sample Questions: | ISM CORe Sample Questions |
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| Exam Way: | In-person at Pearson VUE test centers / Online proctored |
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| Pre Condition: | None for exam registration; for CPSM: 3 years professional experience + bachelor's degree OR 5 years experience without degree |
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| Official Syllabus URL: | https://www.ismworld.org/71701043-supply-management-core-exam-3rd-ed/ |
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The HBX CORe program is an online business education program offered by Harvard Business School that provides students with a comprehensive understanding of the fundamentals of business. The program culminates in a final examination that tests students' understanding of the material covered in the three CORe courses and results in the awarding of the HBX CORe Certification. Supply Management CORe Exam certification is a valuable credential that can help to open up new career opportunities and demonstrates to employers and colleagues that the student has a thorough understanding of the fundamentals of business.
ISM Supply Management Core Exam Sample Questions (Q152-Q157):
NEW QUESTION # 152
A multinational company is in the market to purchase widgets. The firm's standard payment terms are net 80.
While negotiating terms and conditions, a supplier offers to provide a 2% discount on the purchase price of the widgets if they are paid within 35 days. This is an example of which of the following?
- A. Dynamic discounting
- B. Supplier financing
- C. Fixed discounting
- D. Profit repatriation
Answer: A
Explanation:
* Definition: Dynamic discounting is a financial strategy where the buyer can take a discount for early payment, often negotiated on a sliding scale.
* Example Context: The supplier offers a 2% discount if payment is made within 35 days instead of the standard 80 days.
* Benefit: This incentivizes the buyer to pay earlier, improving the supplier's cash flow while offering the buyer a cost saving.
References
* Monczka, R. M., Handfield, R. B., Giunipero, L. C., & Patterson, J. L. (2016). Purchasing and Supply Chain Management. Cengage Learning.
* van Weele, A. J. (2018). Purchasing and Supply Chain Management: Analysis, Strategy, Planning and
* Practice. Cengage Learning.
NEW QUESTION # 153
On July 1st, a company paid $12,000 for an annual insurance policy covering the month of July through the following June. Which of the following statements reflects how this payment would be recorded on July 1st under the accrual method?
- A. Prepaid insurance would be debited for $12,000, and cash would be credited for $12,000.
- B. Cash would be debited for $12,000, and accrued insurance would be credited for $12,000.
- C. Prepaid insurance would be debited for $12,000, and accrued insurance would be credited for $12,000.
- D. Insurance expense would be debited for $12,000, and cash would be credited for $12,000.
Answer: A
NEW QUESTION # 154
The standard deviation of a given population is 3.5 with a mean of 26. Assuming the population follows a normal distribution, approximately what percentage of the population will fall between 15.5 and 36.5?
- A. 95.0%
- B. 99.9%
- C. 99.7%
- D. 68.0%
Answer: C
NEW QUESTION # 155
For the past two years, XYZ Company has issued Requests for Proposals (RFPs) for event registration mobile apps to be used for the firm's annual conference. In both instances, XYZ ended up using an app developed in-house. While the internally-developed app has met XYZ's requirements, the company believes it may be outdated in comparison with those provided by the suppliers that have submitted responses in the past. XYZ issues a new RFP to assess the suppliers' current capabilities. Responses are requested within four weeks from the date of the RFP.
Which of the following is the GREATEST risk that XYZ may encounter with this strategy?
- A. XYZ's timetable might place an unreasonable burden on the ability of suppliers to prepare and submit responses.
- B. Procuring the app from a third party when it was not purchased from a supplier during the previous years could result in the firm exceeding its budget.
- C. XYZ may be forced to accept a proposal that does not meet its business requirements.
- D. Suppliers may decline to respond because XYZ has issued RFPs twice in the past without selecting anyone.
Answer: D
NEW QUESTION # 156
A supply manager is seeking waterproofing consulting services to be used in the construction of a critical materials warehouse. It is the firm's first time procuring this type of service. Given this situation, the supply manager would be BEST served by
- A. subcontracting the work to the general contractor
- B. preparing a flexible scope of work
- C. hiring a staffing agency
- D. Identifying preferred consultants
Answer: B
NEW QUESTION # 157
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