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CIPS L4M4 Exam Syllabus Topics:

Section	Objectives
Topic 1: Understand the key processes that can be applied to the analysis of potential external suppliers	- Supplier audits and due diligence - Use of Request for Information (RFI), Request for Proposal (RFP) and Request for Quotation (RFQ) - Supplier appraisal and evaluation methods - Financial analysis of suppliers - Risk assessment in supplier selection
Topic 2: Understand options for sourcing of requirements from suppliers	- Single, dual and multiple sourcing - Insourcing vs outsourcing decisions - Sourcing strategies and approaches - Factors influencing sourcing decisions
Topic 3: Understand compliance issues when sourcing from suppliers	- Codes of conduct and ethical standards - Global sourcing considerations and Incoterms - Anti-bribery and anti-corruption measures - Sustainability and environmental considerations - Ethical sourcing and corporate social responsibility (CSR) - Regulatory and legal compliance - Modern slavery and human rights in supply chains

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CIPS Ethical and Responsible Sourcing Sample Questions (Q256-Q261):

NEW QUESTION # 256
A 'carnet' provides evidence of the origin of goods shipped in an international trade transaction. Is this statement correct?

A. It is a type of insurance cover to protect against loss of goods in transit
B. It is only used when exporting goods from Europe and confirms the country of origin
C. It is a document that allows the temporary free movement of goods
D. It is a widely used import document that confirms the origin of goods

Answer: C

Explanation:
A carnet (ATA Carnet) is an international customs document that allows for the temporary, duty-free and tax- free movement of goods across borders, usually for exhibitions, trade fairs, or professional equipment. It is not proof of origin (which is confirmed by a certificate of origin), nor is it an insurance document. It is also not restricted to European exports. By reducing customs paperwork and costs for temporary movements, carnets support trade efficiency but do not replace origin or insurance documents. Responsible sourcing requires procurement professionals to know which trade documents are appropriate for compliance and risk management.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - international trade documentation.

NEW QUESTION # 257
A balance sheet will show a company's assets, liabilities and shareholder equity. What is share-holder equity?

A. the amount of money from retained earnings
B. the profit from sales once tax has been deducted
C. the amount of money held in the company's bank account
D. the owners' residual claim once all debt has been paid

Answer: D

Explanation:
shareholder equity = the owner/s of the organisation's residual claim once all debts have been paid. What Is Shareholder Equity (SE) and How Is It Calculated? (investopedia.com)

NEW QUESTION # 258
A buyer of bakery products sees wheat shortages due to poor harvests but demand remains high. How does this affect negotiation?

A. Buyer is in a strong position to reduce prices
B. Prices will not be affected by shortages as demand is high
C. Buyer will find it difficult to negotiate lower prices
D. Bakery produce will be lower priced as less wheat is available

Answer: C

Explanation:
In commodity markets, shortages combined with sustained demand drive price increases. The buyer loses bargaining power, as suppliers can charge higher rates. Negotiating downward is unrealistic; instead, buyers should manage risk through hedging, forward contracts, or alternative sourcing. CIPS notes that responsible sourcing requires understanding market dynamics and their ethical implications (e.g., food security, affordability). The organisation must manage stakeholder expectations about pricing rather than assume negotiation leverage. This reflects the implications of market volatility in global supply chains.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implications" - commodity market dynamics, supply
/demand, and negotiation position.

NEW QUESTION # 259
Steff is a procurement manager at Giant Buttons Ltd who are considering offshoring a small section of their manufacturing operations. Which of the following is a risk of offshoring that Steff should consider.

A. lower operating costs
B. exportation rules and tariffs
C. payments by electronic bank transfer
D. importation rules and tariffs

Answer: D

Explanation:
The correct answer is importation rules and tariffs. This is because in offshoring some of the manufacturing will be done in another country then shipped back to the UK. The products will have to go through customs so may be subject to tariffs and duties.
Steff's not exporting anything in the scenario and paying electronically and getting lower costs are not RISKS.

NEW QUESTION # 260
Tracey Collum is a procurement professional and married to Nick Collum. Tracey has been leading a tender for a new radar system, where four suppliers have submitted their bids. After the bids were received, Nick joined one of the suppliers (Supplier X) as the project director for radar systems. Nick has asked Tracey to award the contract to Supplier X. What should Tracey do?

A. Remove Supplier X from the tender due to a conflict of interest and continue with the tender
B. Ask to be removed from the tender due to a conflict of interest and complete a conflict of interest form
C. Award the contract to Supplier X because Tracey can ask for a better price because they are married
D. Award the contract to Supplier X because Nick will be promoted if Supplier X wins the contract

Answer: B

Explanation:
To maintain integrity and avoid conflicts of interest, Tracey should declare the conflict and remove herself from the tender process. Ethical sourcing practices emphasize transparency and fairness, which prevent potential biases and maintain trust within procurement processes.

NEW QUESTION # 261
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