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These Ethical and Responsible Sourcing (L4M4) practice exams contain all the L4M4 questions that clearly and completely elaborate on the difficulties and hurdles you will face in the final Ethical and Responsible Sourcing (L4M4) exam. Ethical and Responsible Sourcing (L4M4) practice test is customizable so that you can change the timings of each session. iPassleader desktop CIPS L4M4 Practice Test questions software is only compatible with windows and easy to use for everyone.
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NEW QUESTION # 283
Which documents are used to allow the movement of goods?
* Export or import license
* Non-disclosure agreement
* Customs declaration
* Conflict of interest declaration
Answer: B
Explanation:
To facilitate the legal movement of goods across borders, specific documentation is required. An export or import license authorizes the shipment of goods to or from a particular country. A customs declaration provides details about the goods being transported, ensuring compliance with the importing country's regulations. Non-disclosure agreements and conflict of interest declarations are related to confidentiality and ethical considerations, not the physical movement of goods.
Exact Extract from Study Guide:
"Documents and systems that allow the movement of goods within the EU:
* T1 Documents
* Import/Export Licence
* Single Administrative Document
* New Computerised Transit System
* Customs Declaration Service"
NEW QUESTION # 284
The bill of lading is one of the main documents associated with sea freight within international sourcing.
Which of the following statements represent some of the uses of the bill of lading? Select TWO that apply.
Answer: A,D
Explanation:
The bill of lading serves as both a receipt of goods and a document of title, which means it confirms the contract of carriage and can transfer ownership. Responsible sourcing in international trade requires precise documentation, which is why the bill of lading is critical in verifying both carriage and title.
NEW QUESTION # 285
A procurement manager has developed some reports in order to analyse total company expenditure on bought- in goods and services from external suppliers. Expenditure information by product category or supplier can achieve which of the following? Select TWO that apply.
Answer: A,D
Explanation:
Analysing expenditure data by product category or supplier enables procurement managers to:
* Negotiate Better Prices:Identifying high-spend areas or suppliers can provide leverage in negotiations, leading to cost reductions.
* Monitor Cost Trends:Tracking expenditure over time helps in understanding cost fluctuations, budgeting, and forecasting future spend.
Exact Extract from Study Guide:
"Spend analysis is a process that analyses the historical spend data of your organisation to provide answers to questions concerning spend visibility, compliance, and cost-saving opportunities."
NEW QUESTION # 286
A buyer of bakery products sees wheat shortages due to poor harvests but demand remains high. How does this affect negotiation?
Answer: D
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 # 287
Rules regulating the type of goods and the volume that can be imported into a country or trade block are commonly known as what?
Answer: B
Explanation:
This is tariffs. Be careful not to confuse tariffs and duties;
tariffs = rules and duties = payments.
NEW QUESTION # 288
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