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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Ethical and Responsible Sourcing |
| Exam Number: | L4M4 |
| Real Exam Qty: | 60 |
| Exam Format: | Scenario-based, Multiple Choice, Objective Response |
| Certificate Validity Period: | 3 years |
| Passing Score: | 70% |
| Exam Price: | USD 230 - 280 |
| Exam Duration: | 90 minutes |
| Related Certifications: | L4M1 Scope and Influence of Procurement and Supply L4M3 Commercial Contracting L4M5 Commercial Negotiation L4M7 Whole Life Asset Management L4M8 Procurement and Supply in Practice L4M6 Supplier Relationships L4M2 Defining Business Need |
| Available Languages: | Arabic, French, English, Spanish, Chinese |
| Recommended Training: | CIPS Approved Training Providers CIPS Official Study Guide & Learning Materials |
| Exam Registration: | CIPS Official Registration |
| Sample Questions: | CIPS L4M4 Sample Questions |
| Exam Way: | Computer-based online or on-site at authorized test centers |
| Pre Condition: | No formal prerequisites; suitable for professionals with 1–2 years of procurement experience or relevant education |
| Official Syllabus URL: | https://www.cips.org/qualifications/diploma-in-procurement-supply/ethical-and-responsible-sourcing |
>> Latest L4M4 Test Answers <<
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NEW QUESTION # 266
Which of the following is true for CIPS members who sign and comply with the CIPS Code of Conduct?
Members can ...
* gain an understanding of ethical and successful business operations
* acquire automatic entitlement to government sponsorship
* enjoy continued CIPS membership and access to resources
* bypass the need to comply with other voluntary or legal codes
Answer: A
Explanation:
CIPS members who adhere to the CIPS Code of Conduct gain insight into ethical business practices and retain their membership and access to CIPS resources. This commitment to ethical standards supports responsible sourcing by fostering a community of professionals who value integrity and best practices.
NEW QUESTION # 267
Sourcing products internationally involves extra considerations when looking at the price of the item. Which of the following are additional price considerations for international sourcing? Select TWO
Answer: B,E
Explanation:
Exchange rates and tariffs are associated with international sourcing.
The other options are concerns for both local sourcing and international sourcing.
NEW QUESTION # 268
The use of Incoterms will eliminate all risks involved in international trade transactions. Is this statement true?
Answer: C
Explanation:
Incoterms clarify responsibilities between buyers and sellers, reducing certain risks but not eliminating them entirely. Responsible sourcing requires recognising that Incoterms are only part of risk management in international trade, and other factors, such as supplier reliability and quality, must be considered.
NEW QUESTION # 269
Jack Green is planning to use competitive tendering to source a new component for a new product that the customer research department has been developing for the domestic market. Jack is intending to use an open tender process. Which of the following aspects must Jack consider if an open tender procedure is to be used?
Answer: B
Explanation:
In an open tender process, any supplier can submit a bid, and there is no pre-qualification stage. This approach is suitable when the requirements are well-defined, and there is a sufficient number of suppliers in the market to ensure competition. However, if too many suppliers respond, it can lead to an overwhelming number of bids to evaluate. Therefore, it's essential to consider the number of potential suppliers in the market before opting for an open tender.
Exact Extract from Study Guide:
"Open procedure - used for well-specified requirements and there is no pre-qualification of bidders. Many suppliers could submit a bid, which could result in lots of bids to assess, so the open procedure is normally only used where the number of potential bidders is expected to be relatively low."
NEW QUESTION # 270
A buyer is considering trading with a new supplier who is based in a country they have not traded with before.
The buyer needs to understand the anti-bribery risks in the country. Which of the following sources of information would be useful in this regard? Select TWO that apply.
Answer: C,E
Explanation:
Transparency International provides the Corruption Perceptions Index, which ranks countries based on perceived levels of public sector corruption, offering valuable insights into the anti-bribery risks of a specific country. Additionally, understanding the local anti-corruption legislation helps the buyer assess the legal framework and enforcement mechanisms in place, which is crucial when entering into contracts with suppliers in new jurisdictions.
Exact Extract from Study Guide:
"Transparency International's Corruption Perceptions Index is a key resource for assessing the risk of corruption in different countries. Local anti-corruption legislation provides the legal context within which suppliers operate, and understanding these laws is essential for ensuring compliance and ethical sourcing."
NEW QUESTION # 271
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