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NEW QUESTION # 175
Henry is importing cheese from South East Asia into the UK. He is doing some research on the costs and risks of this and has discovered that the product may be considered of 'non-preferential origin'. What implications would this mean for Henry?
Answer: D
Explanation:
Items of 'Non-Preferential Origin' are subject to tariff quotas and other customs commercial regulations.
'Preferential Origin' goods have no duties or tariffs.
The good news is CIPS have significantly simplified section 3.2 of the syllabus. The new study-guide is much lighter on names of documents and protocols for importing and quotas etc. The focus of this Learning Outcome has shifted more to Inco Terms so I would focus on that for revision, but do make sure you have a basic understanding of documents, law and jurisdiction.
NEW QUESTION # 176
Why do tenders often have longer timescales in the public sector when compared with those of the private sector?
Answer: B
Explanation:
Public sector procurement is governed by specific regulations that stipulate minimum timescales for various stages of the tendering process. These regulations are designed to ensure transparency, fairness, and adequate time for suppliers to prepare their bids. For instance, under the Procurement Act 2023, certain procedures have defined minimum periods for tender submissions to allow sufficient time for supplier participation.
Exact Extract from Study Guide:
"Public sector procurement is subject to specific regulations that dictate minimum timescales for tendering processes to ensure fairness and transparency."
NEW QUESTION # 177
Which of the following is not a type of fraud that procurement professionals should be vigilant for?
Answer: A
Explanation:
Coercion is not a type of fraud. The other three are.
NEW QUESTION # 178
Chantelle is a procurement apprentice working in the public sector for an education organisation. As a result of studying towards the CIPS qualification, Chantelle has become aware of the importance of incorporating sustainability and environmental award criteria into tender exercises and has informed her manager of this.
For the purchase of IT supplies, which requirement could be evaluated within the sustainability and environmental award criterion?
Answer: C
Explanation:
Incorporating sustainability and environmental criteria into procurement decisions is essential for promoting responsible sourcing practices.Consolidated deliveryrefers to combining multiple shipments into a single delivery, which can significantly reduce the carbon footprint associated with transportation. By minimizing the number of deliveries, organizations can decrease fuel consumption and emissions, aligning with environmental sustainability goals.
This practice is particularly relevant in the procurement of IT supplies, where frequent, small deliveries can be consolidated to improve efficiency and environmental performance. Evaluating suppliers based on their ability to provide consolidated deliveries demonstrates a commitment to sustainable procurement practices.
References:
CIPS Study Guide: Ethical and Responsible Sourcing - Study Guides - CIPS Quizlet: CIPS L4M4 Ethical and Responsible Sourcing Flashcards
NEW QUESTION # 179
The balance sheet (statement of financial position) is one of the financial statements used in assessing a supplier's financial stability. The balance sheet contains information on such items as ...
Answer: D
Explanation:
A balance sheet sets out assets, liabilities and equity at a point in time. Current (short-term) liabilities such as overdrafts and tax creditors are part of it. Cash receipts (A) sit in cash-flow statements; expenses and profit (B) are in the income statement; ratios (C) are derived metrics, not items on the statement.
Reference: CIPS L4M4 Study Guide (v2): LO "Application" - supplier financial appraisal; interpreting the statement of financial position.
NEW QUESTION # 180
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Candidates all around the globe use their full potential only to get CIPS L4M4 certification. Once the candidate is a CIPS certified, he gets multiple good career opportunities in the CIPS sector. To pass the L4M4 Certification Exam a candidate needs to be updated and reliable Ethical and Responsible Sourcing (L4M4) prep material. There is a ton of L4M4 prep material available on the internet.
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