CIPS L4M4 Ethical and Responsible Sourcing Online Training
CIPS L4M4 Online Training
The questions for L4M4 were last updated at Sep 24,2024.
- Exam Code: L4M4
- Exam Name: Ethical and Responsible Sourcing
- Certification Provider: CIPS
- Latest update: Sep 24,2024
Which of the following should be considered when calculating ratios relating to a supplier’s liquidity?
- A . inventory
- B . reserves
- C . receivables
- D . profit
A buyer in the public sector has put an advert out asking for interested suppliers to express an interest in a potential tender activity to provide a facilities management contract to a hospital trust. The suppliers who have met that criteria are then sent a document detailing how they should submit their tender, how to price the opportunity, asks Questions relating to how they will deliver the service and gives a deadline for bids to be submitted.
Which document have the suppliers ben sent?
- A . Request for Quotation
- B . Invitation to Tender
- C . Invitation to Quote
- D . Request for Tender
Which of the following would you expect to find in an Invitation to Tender? Select THREE
- A . awarding body
- B . deadline (Correct)
- C . pricing schedule
- D . qualifications required
- E . risk assessments
Luke has sent out a Request for Information to test the waters of the supply market for a new product he is sourcing. He has received a high number of detailed documents back from suppliers.
Which of the following is Luke now likely to know about the marketplace? Select THREE
- A . acceptable lead times
- B . amount of product competition
- C . expected changes in the marketplace
- D . exact costs of the item he’s procuring
- E . samples of the product
Achieving the ‘five rights of procurement’ is one of the key objectives of procurement managers.
Which of the following are not considered one of the 5 rights? Select TWO.
- A . time
- B . ethics
- C . environment
- D . quantity
- E . quality
Tendering is a more formal and regimented process than sending out requests for quotations.
Which of the following are services that are often put out to tender? Select THREE.
- A . security
- B . consultancy
- C . provision of raw materials
- D . office supplies
- E . cleaning
In the Public Sector, what is the evaluation criteria most often used when evaluating bids from suppliers?
- A . Most Economically Advantageous Tender
- B . Best Value for Money
- C . Cheapest Overall Tender
- D . Best Business Fit
Pierre is constructing a tender for a security contract. As well as cost, he would like to ask the security companies some questions about their health and safety processes and staff qualifications. He has created several questions and weighted these so that they add up to 25. is this the correct thing to do?
- A . yes- point systems can be weighted any way a buyer choses so long as this is explained in the ITT
- B . yes- 25 is the correct weighting for quality question
- C . no- the weighting should total 10
- D . no- the weighting should total 100
The procurement team at Grape Juice Limited often use a weighted point system when ap-praising potential suppliers.
What is a disadvantage of using a weighted point system?
- A . it allows transparency
- B . it is time-consuming to create
- C . it is easy to manipulate
- D . it is hard to be objective
The gross profit of a company can be calculated by using a simple formula.
What is this?
- A . total revenue – cost of sales
- B . assets – liabilities
- C . cost of sales – fixed assets
- D . debt owed – total sales
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