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High Quality L4M4 Test Torrent to Get Ethical and Responsible Sourcing Certifica
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CIPS L4M4 Exam Syllabus Topics:| Topic | Details | | Topic 1 | - 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 2 | - This section examines analyzing market data, obtaining quotations
- tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.
| | Topic 3 | - Understand the key processes that can be applied to the analysis of potential external suppliers:
| | Topic 4 | - 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.
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CIPS Ethical and Responsible Sourcing Sample Questions (Q168-Q173):NEW QUESTION # 168
Other than price, what should a buyer consider when evaluating supplier quotations?
* Lead times
* Add-on costs
* Wastage rates
* Past performance
- A. 2, 3, and 4 only
- B. 1, 2, and 4 only
- C. 1, 3, and 4 only
- D. 1, 2, and 3 only
Answer: B
Explanation:
In addition to price, factors like lead times, add-on costs, and past performance are important to ensure the supplier meets the buyer's requirements sustainably and reliably. These criteria align with ethical sourcing by promoting value and accountability beyond just cost considerations.
NEW QUESTION # 169
A 'carnet' provides evidence of the origin of goods shipped in an international trade transaction. Is this statement correct?
- A. Yes, it is only used when exporting goods from Europe and confirms the country of origin
- B. No, it is a type of insurance cover to protect against loss of goods in transit
- C. It is a widely used import document that confirms the origin of goods
- D. No, it is a document that allows the temporary free movement of goods
Answer: D
Explanation:
A carnet (specifically an ATA Carnet) is a customs document that allows for the temporary duty-free and tax- free movement of goods across international borders. It is commonly used for exhibitions, fairs, and professional equipment but is not proof of origin. Proof of origin is instead provided by a certificate of origin or other trade documents. It is also not an insurance policy. Responsible sourcing requires buyers to distinguish between documents used for temporary movement (carnet), origin evidence (certificate of origin), and risk transfer (insurance). Correct understanding avoids compliance failures, delays, or unexpected costs in international trade.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - international sourcing documentation.
NEW QUESTION # 170
If a company is described as 'liquid' what does this mean?
- A. the company has enough money to pay short-term liabilities
- B. the company is funded on equity rather than debt
- C. the company is highly profitable
- D. the company spends a lot of money
Answer: A
Explanation:
liquid = the ability to pay short and medium term debts. In simple terms do you have more in stuff (money, assets) than you owe in debt?
Understanding Liquidity and How to Measure It (investopedia.com)
This is a hot topic for the exam. Learn everything in this section.
NEW QUESTION # 171
The International Chamber of Commerce (ICC) publish a list of commercial rules known as Inco-terms. What is the purpose of these rules?
- A. to ensure buyers and suppliers pay the correct level of tax on imported and exported goods
- B. to state which products can be exported from which countries
- C. to provide internationally recognized product descriptions
- D. to describe the point at which an item is considered delivered
Answer: D
Explanation:
Incoterms describe the point at which an item is considered 'delivered' and explains who has the risk of what during the transport of the goods.
NEW QUESTION # 172
Tulip Rose Industries is using a restricted approach to tendering for a new contract for the facilities management of their seven factories which produce furniture made of organic materials. What is likely to be the reason they are using a restricted approach?
- A. the suppliers are likely to be unqualified
- B. interest in the tender opportunity is likely to be high
- C. the requirement is complex
- D. interest in the tender opportunity is likely to be low
Answer: B
Explanation:
you would use a restricted approach when interest is likely to be high. The buyer needs a method of de-selecting unsuitable bidders and creating a shortlist of acceptable organisations.
For complex requirements you could use both an open or restrictive tender- the difference between the approaches is about how many bids you're likely to get rather than the complexity of it.
NEW QUESTION # 173
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