Pass Guaranteed Quiz Efficient CIPS - L4M4 - Exam Ethical and Responsible Sourcing Answers

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CIPS L4M4 Exam Syllabus Topics:

Topic	Details
Topic 1	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 2	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 3	This section examines analyzing market data, obtaining quotations tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.
Topic 4	Understand the key processes that can be applied to the analysis of potential external suppliers:

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CIPS Ethical and Responsible Sourcing Sample Questions (Q164-Q169):

NEW QUESTION # 164
What is a major benefit to using Incoterms when sourcing goods internationally?

A. it ensures ethical business practices
B. it ensures value for money
C. it replaces the need for insurance
D. it replaces lengthy contractual clauses

Answer: D

Explanation:
Incoterms can replace lengthy contract clauses as they replace the need for contracts to detail which party is responsible for organising transport, paying duties, having the insurance etc.
Incoterms is an odd one for exam topics- some students say it was a huge part of their exam and there were many questions on this. Others said there were just one or two. Questions get randomly assigned from the bank so it's completely random how many you'll get on this topic.

NEW QUESTION # 165
There has been a notable growth in international sourcing in the recent years, despite the many challenges involved. Buyers are therefore expected to develop their skills in this specialised area of sourcing. Which of the following factors may have contributed to this steady increase in international sourcing?

A. The existence of trading blocs and a reduction in trade barriers
B. National legal frameworks and their interpretation
C. Different time zones and cultural norms in various markets
D. Exchange rate fluctuations and foreign exchange issues

Answer: A

Explanation:
The growth in international sourcing has been significantly supported by theexistence of trading blocs and the reduction of trade barriers, such as tariffs and quotas. Trading blocs encourage cross-border trade by simplifying regulations, reducing duties, and improving market access between member countries. Exchange rate fluctuations, cultural differences, and varying legal frameworks representchallenges, not drivers, of international sourcing. Ethical and responsible sourcing requires procurement professionals to understand how global trade agreements and reduced barriers create opportunities for cost savings, supplier diversification, and access to global expertise, while still managing associated risks.
Reference:CIPS L4M4 Ethical & Responsible Sourcing Study Guide (v2) - international sourcing drivers; trade blocs and globalisation.

NEW QUESTION # 166
Added value can be objectively defined. Is this sentence TRUE?

A. no- added value is always intangible
B. no - added value may change from one company to another
C. Yes- added value should be assessed along with price
D. Yes- added value is the same for all organisations

Answer: B

Explanation:
The correct answer is 'no - added value may change from one company to another'.
Added value is very subjective. What one person thinks is excellent added value, another may not rate highly.
For example one buyer may consider a supplier having good brand reputation as added value, but another might not care.
The other no answer is incorrect because added value can be tangible or intangible. Tangible means you can touch and see it and intangible means you can't.

NEW QUESTION # 167
Tariffs and import duties imposed on a buying organisation for goods purchased from an international supplier provide benefit to ...

A. Local competitors through lower prices
B. The domestic industry through reduced competition
C. Consumers by having access to lower-priced goods
D. The supplying organisation as they receive additional payment

Answer: B

Explanation:
Tariffs/import duties increase the landed cost of imports, which shields domestic producers by making foreign alternatives relatively more expensive. They do not go to the foreign supplier and typically do not lower consumer prices.
Reference: CIPS L4M4 Study Guide (v2): LO "Implications of global sourcing" - trade barriers (tariffs/non- tariffs) and their market effects.

NEW QUESTION # 168
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.

A. Highlight opportunities for negotiating better prices and reducing costs with suppliers
B. Identify how obsolete stock items can be disposed of in a sustainable way
C. Help the organisation set its marketing strategy
D. Provide information on costs and trends to compare with previous time periods
E. Provide analysis to help with planning production schedules

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 # 169
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