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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Ethical and Responsible Sourcing |
| Exam Number: | L4M4 |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Exam Format: | Multiple Choice Questions (MCQ), Multiple Selection Questions |
| Exam Duration: | 90 minutes |
| Passing Score: | 70% |
| Real Exam Qty: | 60 |
| Exam Price: | $185.69 |
| Certificate Validity Period: | N/A |
| Available Languages: | English |
| Sample Questions: | CIPS L4M4 Sample Questions |
| Exam Way: | Computer-based exam at CIPS accredited exam centre |
| Pre Condition: | No mandatory pre-requisites, but candidates are typically working towards or enrolled in the CIPS Level 4 Diploma in Procurement and Supply. |
| Official Syllabus URL: | https://www.cips.org/students/level-4-diploma |
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NEW QUESTION # 98
For what type of purchase would you use a Futures Exchange?
Answer: B
Explanation:
Futures exchanges are used to trade commodities. It's when a buyer and supplier agree a price and deal for something in the future. For example a carrot farmer may agree to sell his carrots to Gary in 3 months time when they're finished growing. It's used when the product / commodity isn't ready yet.
It's also used for hedging and other complex financial stuff- but you don't need to know that yet. Commodities and Future contracts are a big part of L5M4 to warn you though. Futures Contract Definition: Types, Mechanics, and Uses in Trading (investopedia.com)
NEW QUESTION # 99
Private sector procurement organisations should always allow suppliers at least 35 days to respond to invitations to tender. Is this statement true?
Answer: C
Explanation:
The 35-day minimum applies to public sector procurement under EU/UK directives, not the private sector. In private procurement, response times should be proportional to the complexity and value of the requirement.
Simple RFQs may require only a few days, while complex tenders involving technical submissions may justifiably need weeks. Responsible sourcing involves ensuring suppliers have fair opportunity to respond adequately, but without unnecessary delays that could affect business needs. Therefore, rigidly applying a fixed number of days in the private sector is neither necessary nor efficient.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - procurement timelines, public vs private sector differences.
NEW QUESTION # 100
Faisal is a medical equipment maintenance services procurement specialist within a local hospital. Faisal is responsible for ensuring contracts are in place that will ensure operational continuity of high-value pieces such as radiology equipment. When carrying out tender opportunities for these services, Faisal will specify, as an essential requirement, that certain standards are adhered to. Which of the following is a benefit of incorporating standards as a requirement within a specification?
Answer: C
Explanation:
Incorporating standards within specifications provides clear guidelines for suppliers, reducing ambiguity and helping ensure consistency in quality and performance. This aligns with ethical and responsible sourcing practices by promoting transparency and setting consistent expectations for suppliers.
NEW QUESTION # 101
The procurement team received an urgent request from the business to source quotations forpest control services. The team decided to use a local newspaper to advertise the requirements. Was this an appropriate approach to use in the circumstance?
Answer: B
Explanation:
Advertising in a local newspaper for urgent services like pest control may not be the most efficient approach.
It can lead to an overwhelming number of responses, many of which may not meet the specific requirements, thereby delaying the evaluation process. For urgent needs, direct sourcing from pre-qualified suppliers or using existing frameworks is often more effective.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 2.2: Tendering Procedures
NEW QUESTION # 102
During which stage of the procurement cycle would you remove suppliers that do not add value, or could pose a risk to the buying organisation?
Answer: C
Explanation:
At supplier selection stage, unsuitable suppliers should be removed (those that do not add value or pose a risk).
At develop strategy stage you're not even looking at suppliers yet- you're just deciding what you need. At contract award and asset management it's too late.
CIPS procurement cycle - Procurement Supply Cycle | CIPS
NEW QUESTION # 103
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