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NEW QUESTION # 223
What might a buyer encounter if the supplier's government has introduced a protectionist measure?
Answer: A
Explanation:
Protectionist measures are policies implemented by governments to protect domestic industries from foreign competition. One common protectionist measure is the imposition of import duties, which are taxes levied on imported goods. These duties make imported products more expensive, encouraging consumers to buy domestic products instead. Buyers sourcing internationally must be aware of such duties as they directly impact the total cost of procurement.
Exact Extract from Study Guide:
"Furthermore, there are many potential cost considerations when importing goods which can include taxes & duties or storage costs. By understanding all key legal, regulatory and organizational requirements prior to sourcing from international suppliers, businesses can ensure compliance while also maximizing cost savings."
NEW QUESTION # 224
What is the best way to demonstrate that your organisation does not tolerate bribery and corruption?
Answer: B
Explanation:
The most effective way to demonstrate zero tolerance is by embedding a comprehensive anti-bribery framework: clear policies, mandatory staff and supplier training, reporting channels, and monitoring. Simply requesting suppliers' policies or avoiding known offenders is reactive, not proactive. Requiring suppliers to read policies without internal enforcement lacks substance. CIPS highlights that robust governance structures, supported by recognised frameworks such as the UK Bribery Act or FCPA, reinforce organisational credibility, protect reputation, and ensure compliance. This builds trust across supply chains and ensures ethical standards are maintained.
Reference: CIPS L4M4 Study Guide (v2), LO: "Concepts" - ethics, anti-bribery and corruption frameworks.
NEW QUESTION # 225
Balance sheet (Statement of Financial Performance) ratios measure the liquidity and solvency of a business.
One of the liquidity ratios is called the 'current ratio'. The formula for current ratio uses which of the following pieces of information from the balance sheet?
Select TWO that apply.
Answer: B,C
Explanation:
Thecurrent ratiomeasures a supplier's ability to meet short-term financial obligations and is calculated as total current assets divided by total current liabilities. Current assets include cash, receivables, and inventory, while current liabilities include overdrafts, trade payables, and short-term debt. Equity capital relates to ownership, not liquidity, and sales income and cost of goods sold appear in the income statement, not the balance sheet. Ethical and responsible sourcing requires procurement professionals to assess supplier liquidity to reduce the risk of supply disruption caused by cash-flow problems.
Reference:CIPS L4M4 Ethical & Responsible Sourcing Study Guide (v2) - financial ratios; liquidity assessment.
NEW QUESTION # 226
What are the risks of outsourcing?
* Loss of control of project
* Loss of assets
* Loss of future business opportunities
* Loss of private information
Answer: A
Explanation:
Loss of control and loss of private information are significant risks in outsourcing. Responsible sourcing involves mitigating these risks by setting clear agreements, monitoring, and safeguarding sensitive information to maintain control over outsourced activities.
NEW QUESTION # 227
Which of the following is considered as part of ESG?
Answer: C
Explanation:
The correct answer is bribery, corruption and the environment.
ESG stands for environmental and social governance. It's the new buzzword for CIPS and is basically everything to do with ethical procurement- so areas such as bribery and corruption are included as well as the environment.
Option 4 is incorrect as economic doesn't come into it.
NEW QUESTION # 228
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