CIPS L3M1 Procurement and Supply Environments Online Training
CIPS L3M1 Online Training
The questions for L3M1 were last updated at Nov 19,2024.
- Exam Code: L3M1
- Exam Name: Procurement and Supply Environments
- Certification Provider: CIPS
- Latest update: Nov 19,2024
The Equality Act in the UK was introduced in which year?
- A . 2019
- B . 2001
- C . 2010
- D . 2011
Sources of finance for a public sector entity are primarily (select one):
- A . Sales revenues
- B . Taxpayers
- C . Long-term bank loans
- D . Delaying payments to suppliers
Which of the following would be / should be subject to health and safety legislation?
- A . All of them
- B . Smoking cigarettes inside offices, factories and other buildings
- C . The manual lifting of heavy objects
- D . Floors, passages and stairs should be properly constructed, maintained and kept clear
- E . The need for appropriate firefighting equipment in a factory
The letters ‘NFP’ mean…
- A . Newly focused (on) profit
- B . Not for procurement
- C . Non-funded purchase
- D . Not-for-profit
On a diagram of the Product Life Cycle, the x-axis shows:
- A . Growth
- B . Time
- C . Decline
- D . Profit
Doing the same with fewer resources is:
- A . Efficiency
- B . Effectiveness
- C . Economy
- D . Efficiency.
Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), the content of the centre circle is about:
- A . Governmental regulation of competition within an economy
- B . Competitive rivalry within the industry
- C . Governmental interference in an industry
- D . Competitor price-cutting to increase market share
As well as a Goods Received Note (GRN), three-way matching to authorise a payment to a supplier should involve two other documents.
Which two?
- A . Service Level Agreement
- B . Invoice
- C . Purchase Order
- D . Bill of Materials
‘Trade within major trading blocs tends to expand, whereas this is not necessarily the case regarding trade between major trading blocs’. True or false?
- A . True
- B . False
Think carefully.
There is low consumer demand; production capacity is unused; prices are stable or are falling; busi-ness profits are low; unemployment is high; and business confidence is low. Is this:
- A . Recovery
- B . Recession
- C . Boom
- D . Depression
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