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ISM CORe Exam Overview:

Certification Vendor:	ISM (Institute for Supply Management)
Exam Name:	Supply Management CORe Exam
Exam Number:	CORE
Exam Duration:	165 minutes
Available Languages:	English, Spanish
Certificate Validity Period:	5 years (requires recertification)
Exam Format:	Multiple Response, Multiple Choice
Passing Score:	400 (on a scale of 200-800)
Exam Price:	USD 399 (ISM Members), USD 499 (Non-Members)
Real Exam Qty:	165
Related Certifications:	CPSM (Certified Professional in Supply Management)
Sample Questions:	ISM CORe Sample Questions
Exam Way:	Computer-based testing at Pearson VUE testing centers worldwide. Remote proctoring option may be available.
Pre Condition:	Candidates must have a bachelor's degree from a regionally accredited college/university (or international equivalent) and 3 years of full-time, professional supply management experience (non-clerical, non-support). OR Candidates without a bachelor's degree must have 5 years of full-time, professional supply management experience.
Official Syllabus URL:	https://www.ismworld.org/certification-and-training/certification/cpsm/

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The HBX CORe program is one of the most highly-regarded online business courses available. Designed by Harvard Business School, this program teaches students the fundamentals of business, including accounting, economics, and business analytics. One of the final components of the program is the HBX CORe Final Examination, which is designed to evaluate a student's understanding of the material covered in the course.

ISM Supply Management Core Exam Sample Questions (Q69-Q74):

NEW QUESTION # 69
The government decides to set a price ceiling on corn. The price ceiling is set 10% above the equilibrium price. What would be the result of this government action?

A. There would be a shortage of corn.
B. There would be a surplus of corn.
C. Consumer surplus would increase.
D. The price ceiling would have no effect on the market.

Answer: D

NEW QUESTION # 70
MNO, Inc. has been one of XYZ Company's most valuable customers for a number of years. During a formal competitive bid event for a new product introduction, MNO becomes a supplier to XYZ. In this situation, which of the following should be of GREATEST concern to these organizations?

A. Conflict resolution
B. Progress reports
C. Reciprocal relationship
D. Customer feedback

Answer: C

Explanation:
* Sales Representative's Promise: The sales representative from XYZ Company provided documentation that the product would meet or exceed ABC's specifications.
* Express Warranty: An express warranty is created when a seller makes a promise or provides assurance that a product will meet certain standards or specifications.
* Non-Conforming Goods: Upon inspection, the product did not meet the required specifications and could not be used for its intended purpose.
* Buyer's Rights: Under the Uniform Commercial Code (UCC) and similar laws, the buyer has the right to return non-conforming goods and seek a full refund when an express warranty has been breached.
* Conclusion: ABC is entitled to return the product and receive a full refund due to the breach of the express warranty.
References
* UCC (Uniform Commercial Code). (n.d.). Article 2 - Sales.
* ISM. (n.d.). Managing Warranties and Product Non-Conformance.

NEW QUESTION # 71
Which of the following companies could expect to have the fewest competitors? (Select all that apply.)

A. Tutoring service for grade school math
B. Restaurant
C. Real estate agency
D. Airline
E. Automobile manufacturer

Answer: D,E

NEW QUESTION # 72
A serious drought has created a shortage of food across the country. In an attempt to maximize profits, one grocery store decided to auction off its limited supply of food. Which of the following scenarios is the MOST likely to occur in this situation?

A. The consumers with the highest willingness to pay would receive food.
B. The consumers with the lowest opportunity cost of time would receive food.
C. The magnitude of the food shortage would increase.
D. The willingness to pay for food would rise.

Answer: A

NEW QUESTION # 73
Which of the following BEST describes the strategic sourcing process?

A. The issuing of materials according to a schedule or to a job at its start time
B. A series of actions to identify suppliers to provide needed products/services for the organization
C. The solicitation and evaluation of bids and proposals to meet the organization's material needs
D. An analysis of the expected demand, supply market, and specific suppliers used by the organization

Answer: B

Explanation:
The best description of the strategic sourcing process is D. A series of actions to identify suppliers to provide needed products/services for the organization. Strategic sourcing is a systematic and data-based approach for optimizing an organization's vendor base and improving overall value propositions for software and services1.
It involves planning, managing, and optimizing supply chain activities, which includes identifying suitable suppliers2.

NEW QUESTION # 74
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