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| Section | Objectives |
|---|---|
| Understand compliance issues when sourcing from suppliers | - Global sourcing considerations and Incoterms - Codes of conduct and ethical standards - Ethical sourcing and corporate social responsibility (CSR) - Regulatory and legal compliance - Modern slavery and human rights in supply chains - Sustainability and environmental considerations - Anti-bribery and anti-corruption measures |
| Understand the key processes that can be applied to the analysis of potential external suppliers | - Financial analysis of suppliers - Supplier appraisal and evaluation methods - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) - Supplier audits and due diligence - Risk assessment in supplier selection |
| Understand options for sourcing of requirements from suppliers | - Sourcing strategies and approaches - Insourcing vs outsourcing decisions - Factors influencing sourcing decisions - Single, dual and multiple sourcing |
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In this way, the CIPS L4M4 certified professionals can not only validate their skills and knowledge level but also put their careers on the right track. By doing this you can achieve your career objectives. To avail of all these benefits you need to pass the Ethical and Responsible Sourcing (L4M4) exam which is a difficult exam that demands firm commitment and complete CIPS L4M4 exam questions preparation.
NEW QUESTION # 93
An international supplier of shirts provides four different prices for each garment depending on the Incoterm selected by the buyer. Which Incoterm would support achieving the lowest unit price per garment?
Answer: B
Explanation:
Under EXW (Ex Works) the seller prices only for making goods available at their premises; the buyer bears transport, export formalities, main carriage, and risk from collection. Because the seller's obligations are minimal, the quoted unit price is typically the lowest. Delivered terms (DAP/DDP/CPT) add seller costs and risk, raising the price.
Reference: CIPS L4M4 Study Guide (v2): LO "Application" - Incoterms responsibilities, cost/risk allocation.
NEW QUESTION # 94
In order to assess whether a company is able to meet its current liabilities, which financial ratio should you use?
Answer: C
Explanation:
"Meet current liabilities" is a posh way of saying "can you pay your bills". You're therefore looking for a liquidity ratio- a ratio that looks at assets vs liabilities (i.e. money in the bank vs money owed out). The Acid Test is a liquidity ratio. It's sometimes called the 'quick ratio'. Both terms come up on the exam. The other options are financial ratios but aren't for liquidity.
NEW QUESTION # 95
In which instance would multiple sourcing be the most applicable approach?
Answer: B
Explanation:
Multiple sourcing reduces dependency risks and provides flexibility in urgent supply situations. For components needed at short notice, having multiple suppliers ensures continuity and responsiveness.
Strategic, high-value, or unique components (B, C) often require single or closer sourcing to ensure collaboration and expertise. Service provision (A) typically benefits from relationship-based sourcing rather than multiple arrangements. Responsible sourcing stresses that multiple sourcing is a risk management tool, best applied where speed, availability, and resilience are essential.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - sourcing strategies (single vs multiple sourcing).
NEW QUESTION # 96
Which of the following is a regulatory body which protects the rights of workers?
Answer: B
Explanation:
ILO = the International Labour Organisation.
ISO is the International Standardisation Organisation- they also come up in this exam.
Fair Trade is about paying suppliers properly.
WWF is the World Wildlife Foundation, or if you watched wrestling in the 90s, the original WWE. You do not need to know about wildlife or wrestling for this exam.
NEW QUESTION # 97
Commodities are items which can be traded on the stock exchange. These are generally divided into four categories. What are these four categories?
Answer: A
Explanation:
energy, agriculture, metals, livestock are the four trading categories on the stock exchange. Some-times there's a 5th category added which is 'environmental credits'. This is a fairly new thing and you don't need to know anything about this for this exam.
Question no commodities will mainly centre around characteristics of commodities and factors that affect pricing.
Commodities are discussed much more in detail in L5M4. At level 4 you just need a basic overview.
NEW QUESTION # 98
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