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[General] Quiz 2026 CIPS L4M2 Unparalleled Online Test

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【General】 Quiz 2026 CIPS L4M2 Unparalleled Online Test

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The Defining Business Needs module is targeted towards professionals who are responsible for procurement and supply chain activities within their organizations. This module is ideal for procurement managers, supply chain managers, and other professionals who want to develop their skills in identifying and analyzing business needs. The module is also relevant for professionals who are interested in pursuing a career in procurement and supply chain management.
CIPS L4M2 (Defining Business Needs) certification exam is a highly respected qualification that is recognized globally. It is designed for procurement and supply chain management professionals who are looking to advance their careers and demonstrate their knowledge and skills in this field. By passing L4M2 Exam, candidates can enhance their career prospects and demonstrate their commitment to excellence in procurement and supply chain management.
The Defining Business Needs module is assessed through an exam that consists of 60 multiple-choice questions. L4M2 exam is designed to test the knowledge and skills acquired by professionals during the module. L4M2 exam is timed and must be completed within two hours. Professionals who successfully pass the exam will receive a certificate of completion from CIPS.
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CIPS Defining Business Needs Sample Questions (Q243-Q248):NEW QUESTION # 243
A consulting firm in London had previously had static budgets. They were set once and locked in for the year.
This resulted in departments meeting their budgets early and doing virtually nothing the rest of the accounting period. To address this imbalance, the company tossed out the static budget and developed a new one for each department of the next 18 months. And each month, real sales figures are analyzed against the plan and the budget is adjusted accordingly. Then the company adds another month into the budgeting plan. What type of budget this company is using?
  • A. Zero-based budget
  • B. Activity-based budget
  • C. Rolling budget
  • D. Incremental budget
Answer: C
Explanation:
A rolling budget is continually updated to add a new budget period as the most recent budget period is completed. Thus, the rolling budget involves the incremental extension of the existing budget model. By doing so, a business always has a budget that extends one year into the future.
Think of continuous (rolling) budgets as waves rolling ashore on the beach. A new wave comes in each time, replacing the one that was there before. From a financial perspective, the wave is your budget, and the time between waves is longer! These reporting time frames can be monthly, quar-terly, yearly, etc.
An incremental budget is a budget prepared using a previous period's budget or actual performance as a basis with incremental amounts added for the new budget period.
Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period. The process of zero-based budgeting starts from a "zero base," and every function within an organization is analyzed for its needs and costs. Budgets are then built around what is needed for the upcoming period, regardless of whether each budget is higher or lower than the previous one.
Activity-based budgeting (ABB) is a system that records, researches, and analyzes activities that lead to costs for a company. Every activity in an organization that incurs a cost is scrutinized for potential ways to create efficiencies. Budgets are then developed based on these results.

NEW QUESTION # 244
To improve the productivity, Plantation Ltd is planning to purchase a tractor, which it has never bought before. The project must be quick to catch up with the next growing season. Leanne, a jun-ior procurement staff at the company, assumes that she could skip market analysis stage to save time. Is this assumption reasonable?
  • A. No, market analysis will inform the company of the pricing as well as latest technology trends
  • B. Yes, the company has extensive experience in purchasing tractor
  • C. No, the company assesses supplier's performance solely based on market analysis
  • D. Yes, Leanne just needs to purchase the tractor from her friend's company
Answer: A
Explanation:
Market analysis is a stage in CIPS Procurement and Supply Cycle. This stage informs the purchaser about the number of suppliers, the average pricing, and product trends. Even urgent purchase should undergo market analysis. Without undertaking this stage, the buying organisation may not purchase the right product, or they may purchase at higher price.
Reference:
LO 2, AC 2.1

NEW QUESTION # 245
A procurement organisation is keen to encourage innovation available within the supply market in the execution of an upcoming significant contract opportunity. A team member suggests that the specification should define the performance indicators so that supplier's solution can be checked against them. Which of the following will enable the organisation to achieve this goal?
  • A. Applying a precise performance framework
  • B. Establishing transparent selection criteria
  • C. Using an output focused specification
  • D. Using an outcome focused specification
Answer: C
Explanation:
The buying organisation is keen to encourage innovation so they should use the outcome or output based specification. In an outcome-based specification, umbrella statements like 'good quality', 'ambient temperature', 'convenient way' are often used. This may confuse the suppliers, and it's hard to check the solution that supplier offers. On the other hand, ouput-based specifications often include measurable requirements. For example, a specification for air conditioning system states that the system should maintain the room temperature at 19-24 degrees Celsius. Therefore, output specification is more appropriate in this case.
Reference: CIPS study guide page 119-124
LO 3, AC 3.1

NEW QUESTION # 246
Facing fiercer competition at home and abroad, IKEA, the leading furniture retailer, needs to im-prove its competitiveness. In order to do this, IKEA must decrease operating costs and improve quality of current and new retail stores. The company establishes a project team. The job of the team is to collect data on performance from multiple stores in several countries, then select the best performing one. The team will work closely with best performing store and study its processes. After the research, the team will recommend best practices to other retail stores. IKEA management can also apply these practices to new stores in the future. Which of the following correctly describe the process undertaken by IKEA project team?
  • A. Competitive benchmarking
  • B. Internal benchmarking
  • C. Site visit
  • D. Internal audit
Answer: B
Explanation:
Basically, IKEA project team is undertaking the following process:

This is a typical benchmarking process. Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations. Benchmarking provides necessary insights to help you understand how your organization compares with similar organizations, even if they are in a different business or have a different group of customers.
In the scenario, benchmarking process is undertaken within subsidiaries of IKEA, thus it is internal.
Reference:
- CIPS study guide page 49-51
- What is Benchmarking? Technical & Competitive Benchmarking Process | ASQ
- Internal Benchmarking at IKEA
LO 1, AC 1.3

NEW QUESTION # 247
An example of a direct cost is ...
  • A. Rent for premises
  • B. Raw material
  • C. Office cleaning
  • D. An overhead expense
Answer: B

NEW QUESTION # 248
......
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