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CIPS L4M4 Exam Syllabus Topics:

Topic	Details
Topic 1	Understand the key processes that can be applied to the analysis of potential external suppliers:
Topic 2	Understand compliance issues when sourcing from suppliers: It explores legislative, regulatory, and organizational requirements for sourcing. It compares the use of audit and other mechanism of feedback.
Topic 3	Understand options for sourcing requirements from suppliers: This section covers the sourcing process, approaches, options, and award criteria for obtaining requirements from suppliers. The sub-topics provide a foundation for strategic sourcing.
Topic 4	This section examines analyzing market data, obtaining quotations tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.

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CIPS Ethical and Responsible Sourcing Sample Questions (Q189-Q194):

NEW QUESTION # 189
Philip is a procurement manager at XYZ Company which imports raw materials from abroad. Sup-pliers provide quotes to Philip in their local currency. Is this the best way to reduce the risk to XYZ Company of currency fluctuations?

A. yes- this means the price won't go up or down
B. no- quoting in the supplier's currency increases the risk for the buyer
C. no- quoting in the supplier's currency does not affect the risk to the buying organisation
D. yes- this puts the risk on the supplier

Answer: B

Explanation:
The correct answer is 'no- quoting in the supplier's currency increases the risk for the buyer'. This questions comes up in a variety of formats in the exam. Remember; if the price is in your own currency (most examples in the exam are given in £) there is less risk than if the prices are quoted in a foreign currency. This is because exchange rates fluctuate; if the price is in £ you always know what you're paying, if it's in another currency the price can change daily depending on if the exchange rate compared to £ has gone up or down.

NEW QUESTION # 190
Which of the following are examples of secondary data? Select TWO

A. networking
B. commissioned market research
C. trade fairs and exhibitions
D. comparison websites
E. economic indices

Answer: D,E

Explanation:
economic indices and comparison websites are secondary sources of data. The other three are examples of primary sources of data.
Primary= you get the data yourself
Secondary = you find the data from somewhere else

NEW QUESTION # 191
Which of the following should form part of the initial evaluation process for non-domestic vendor supply proposals?

A. Internal benchmarking
B. Incoterm classifications
C. Supplier development
D. Contract management

Answer: B

Explanation:
In the initial evaluation of non-domestic vendor supply proposals, understanding and applying the correct Incoterm classifications is crucial. Incoterms (International Commercial Terms) define the responsibilities of buyers and sellers in international transactions, including the point at which risk transfers from seller to buyer.
Evaluating these terms early ensures clarity in logistics, costs, and risk management.
Exact Extract from Study Guide:
"When sourcing from international suppliers, it is important to be aware of the key legislative and regulatory requirements in both the home country as well as the country of origin. Depending on product and service type, for example, you may need to consider product safety measures, industry regulations, and environmental regulations. In terms of organizational requirements, it is important to pay attention to details such as applicable payment terms and local labor practices."

NEW QUESTION # 192
A 'carnet' provides evidence of the origin of goods shipped in an international trade transaction. Is this statement correct?

A. No, it is a type of insurance cover to protect against loss of goods in transit
B. No, it is a document that allows the temporary free movement of goods
C. Yes, it is only used when exporting goods from Europe and confirms the country of origin
D. It is a widely used import document that confirms the origin of goods

Answer: B

Explanation:
A carnet (specifically an ATA Carnet) is a customs document that allows for the temporary duty-free and tax- free movement of goods across international borders. It is commonly used for exhibitions, fairs, and professional equipment but is not proof of origin. Proof of origin is instead provided by a certificate of origin or other trade documents. It is also not an insurance policy. Responsible sourcing requires buyers to distinguish between documents used for temporary movement (carnet), origin evidence (certificate of origin), and risk transfer (insurance). Correct understanding avoids compliance failures, delays, or unexpected costs in international trade.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - international sourcing documentation.

NEW QUESTION # 193
Which financial statement would be used for analysing an organisation's assets?

A. Profit and loss account (statement of financial performance)
B. Cash flow statement
C. Credit rating reports
D. Balance sheet (statement of financial position)

Answer: D

Explanation:
Thebalance sheet, also known as the statement of financial position, provides a snapshot of an organisation's assets, liabilities, and equityat a specific point in time. It is the primary financial statement used to analyse what an organisation owns and owes. The profit and loss account focuses on income and expenses, while the cash flow statement shows cash movements. Credit rating reports summarise financial risk but are not financial statements. Ethical and responsible sourcing requires procurement professionals to understand balance sheets to assess supplier stability and reduce supply continuity risks.
Reference:CIPS L4M4 Ethical & Responsible Sourcing Study Guide (v2) - financial statements and supplier assessment.

NEW QUESTION # 194
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