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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Ethical and Responsible Sourcing |
| Exam Number: | L4M4 |
| Passing Score: | 70% |
| Certificate Validity Period: | 3 years |
| Related Certifications: | L4M7 Whole Life Asset Management L4M5 Commercial Negotiation L4M8 Procurement and Supply in Practice L4M2 Defining Business Need L4M1 Scope and Influence of Procurement and Supply L4M6 Supplier Relationships L4M3 Commercial Contracting |
| Available Languages: | Spanish, Arabic, French, English, Chinese |
| Exam Price: | USD 230 - 280 |
| Exam Duration: | 90 minutes |
| Real Exam Qty: | 60 |
| Exam Format: | Multiple Choice, Objective Response, Scenario-based |
| Recommended Training: | CIPS Approved Training Providers CIPS Official Study Guide & Learning Materials |
| 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 1–2 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 # 180
A buyer is only interested in working with suppliers who have strong Environmental and Social Governance practices. It is therefore using ethical criteria as supplier selection stage to determine which suppliers to work with. Which of the following statements is true?
Answer: B
Explanation:
A supplier who follows the CIPS Code of Conduct is more likely to meet the buyer's needs is the correct answer.
The other options are wrong:
1) Compliance with Codes of Conduct from professional bodies is optional. E.g. CIPS - no organi-sation is forced to comply with CIPS.
2) Unethical behaviour is not impossible to detect, it may be difficult but with correct due diligence and things like audits it's completely possible
3) ISO 14001 is quality management so is irelevent.
NEW QUESTION # 181
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 # 182
How can a buyer monitor a supplier's ethical workforce standards throughout a long-term contract?
Answer: B
Explanation:
Conducting periodic audits by third-party specialists is a reliable way to monitor compliance with ethical standards, as these audits provide an objective assessment. This aligns with ethical sourcing practices, as it promotes accountability and ensures continuous adherence to agreed-upon standards.
NEW QUESTION # 183
Which of the following payment mechanisms is most beneficial to the buyer?
Answer: D
Explanation:
Open account (aka credit account) is most beneficial to the buyer. The supplier delivers the goods then the buyer pays.
Cash in advance is most beneficial to the supplier. The buyer pays for the item before receiving it.
This is a known exam topic.
NEW QUESTION # 184
A company has a requirement for an item that has been identified as strategic on the positioning model. The company needs to invite competitive tenders and make sure the selected supplier of this item is in a good financial position. What should the company ask the suppliers to send to show that their current assets cover their current liabilities?
Answer: D
Explanation:
The acid test, also known as the quick ratio, measures a company's ability to cover its current liabilities with its most liquid assets, excluding inventory. It is a stringent indicator of short-term financial health. By requesting this ratio, the company can assess whether a potential supplier has sufficient liquidity to meet its obligations, which is crucial when procuring strategic items.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 2.3: Financial Appraisal of Suppliers
NEW QUESTION # 185
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