FAST DOWNLOAD NEW L4M4 TEST FORMAT | EASY TO STUDY AND PASS EXAM AT FIRST ATTEMPT & VALID L4M4: ETHICAL AND RESPONSIBLE SOURCING

Fast Download New L4M4 Test Format | Easy To Study and Pass Exam at first attempt & Valid L4M4: Ethical and Responsible Sourcing

Fast Download New L4M4 Test Format | Easy To Study and Pass Exam at first attempt & Valid L4M4: Ethical and Responsible Sourcing

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CIPS Ethical and Responsible Sourcing Sample Questions (Q43-Q48):

NEW QUESTION # 43
How can a buyer monitor a supplier's ethical workforce standards throughout a long-term contract?

  • A. Contact management directly on a periodic basis, as stipulated in contract terms
  • B. Request a completed self-assessment by the supplier on a monthly basis
  • C. Check the International Labour Organisation's database regularly for information specifically about that supplier
  • D. Commission periodic audits by specialist third parties to highlight any malpractice

Answer: D

Explanation:
Conducting periodic audits by third-party specialists is a reliable way to monitor compliance with ethical standards, as these audits provide an objective assessment. This aligns with ethical sourcing practices, as it promotes accountability and ensures continuous adherence to agreed-upon standards.


NEW QUESTION # 44
When might a company send a Request for Information (RFI) to a supplier instead of a Request for Quotation (RFQ)? Select TWO that apply:

  • A. To ask for the details of the product or the range of services that the supplier has to offer
  • B. To determine whether the supplier is able to fulfill a purchase order that has already been placed
  • C. To establish the details of environmental and quality certificates that the supplier may have
  • D. To obtain indicative prices that could be offered for a range of required products
  • E. To negotiate the payment terms detailed in the terms and conditions of sale

Answer: A,B,C,D

Explanation:
A Request for Information (RFI) is utilized during the early stages of the procurement process to gather general information about potential suppliers' capabilities, products, or services. It helps in understanding the market and narrowing down supplier options before moving to more detailed requests like RFQs or RFPs.
* Option B:Obtaining indicative prices helps in budgeting and understanding market rates.
* Option C:Gathering details about products or services allows the buyer to assess the supplier's offerings and suitability.
Options A, D, and E are more appropriate for later stages in the procurement process, such as during RFQs or contract negotiations.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 2.1: Sourcing and Contracting Process


NEW QUESTION # 45
Which of the following would you use to work out a company's gearing ratio? Select TWO.
0current liabilities

  • A. shareholder equity
  • B. long term debt
  • C. gross sales
  • D. net profit

Answer: B,D

Explanation:
Gearing measures how much of an organisation's long-term funding is made up of long term debt and loans.
Therefore the correct answers are 'shareholder equity' and 'long term debt'.
There are many question about financial ratios that can come up on the exam. If you're unsure on them I suggest doing further reading outside of the study guide as this will help. I like this youtube video (I'm not associated with the makers of this video but think they're really good at explaining things to beginners) Gearing Ratio explained (youtube.com)


NEW QUESTION # 46
A buyer is responsible for the procurement of metals within the raw materials department. The buyer is preparing for next year's purchase orders and has been asked to confirm the month of order placement. The buyer has found three trends:
* In January and April, the supplier's local currency is stronger
* November typically has the lowest demand
* May typically has the highest demand
Which month should the buyer plan to place the purchase order?

  • A. April
  • B. November
  • C. May
  • D. January

Answer: B

Explanation:
Ordering in November, when demand is lowest, may allow the buyer to secure better pricing and availability, aligning with responsible sourcing by optimizing purchase timing to achieve cost savings and reliable supply.


NEW QUESTION # 47
Jack Green is planning to use competitive tendering to source a new component for a new product that the customer research department has been developing for the domestic market. Jack is intending to use an open tender process. Which of the following aspects must Jack consider if an open tender procedure is to be used?

  • A. There must be an adequate number of suppliers in the market
  • B. The price will be the only criterion for supplier selection
  • C. The bidders must be pre-qualified prior to invitation to tender
  • D. The tender will only be advertised in marketing journals

Answer: A

Explanation:
In an open tender process, any supplier can submit a bid, and there is no pre-qualification stage. This approach is suitable when the requirements are well-defined, and there is a sufficient number of suppliers in the market to ensure competition. However, if too many suppliers respond, it can lead to an overwhelming number of bids to evaluate. Therefore, it's essential to consider the number of potential suppliers in the market before opting for an open tender.
Exact Extract from Study Guide:
"Open procedure - used for well-specified requirements and there is no pre-qualification of bidders. Many suppliers could submit a bid, which could result in lots of bids to assess, so the open procedure is normally only used where the number of potential bidders is expected to be relatively low."


NEW QUESTION # 48
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