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Guide for L4M2: CIPS Defining Business Needs

Quiz L4M2: CIPS Defining Business Needs

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/ 10

Quiz

1/10
A company uses eight different floor cleaning products at different premises and has decided to
standardise on just one. This product is available from a large number of suppliers. What benefits
should the company expect to achieve?
Select the answer
1 correct answer
A.
Lower costs
B.
Fewer staff
C.
Increased stock levels
D.
Increased costs

Quiz

2/10
A procurement manager decided to use a conformance specification in a request for quotation (RFQ)
for the manufacturing of a specialist item designed by their company. The company does not have
the capability to manufacture the item in-house, but requires the item to be made to their detailed
specification. Was this the correct thing to do?
Select the answer
1 correct answer
A.
Yes, as it means that the company will be able to get the most cost-effective price for the item from the chosen supplier
B.
No, as the item will be of non-standard construction and will not be able to be used by other competitors
C.
No, as it means that the chosen supplier will not be able to use their expertise and knowledge to manufacture the item
D.
Yes, as it means that the company will get exactly what it has specified and that the item meets its specific requirements

Quiz

3/10
Which of the following would be an example of direct costs for a decorating contractor?
Select the answer
1 correct answer
A.
Paint
B.
Ladder
C.
Van
D.
Electricity

Quiz

4/10
Ranjit is purchasing a large piece of laboratory equipment which is brand new to the market. Can this
be classified as a straight re-buy?
Select the answer
1 correct answer
A.
Yes, as the equipment is available from a supplier used in the past
B.
Yes, as there is an existing specification
C.
No, as a standing purchase agreement exists
D.
No, as this has not been specified or sourced before

Quiz

5/10
What are the typical purposes of specifications in procurement and supply? Select TWO that apply.
Select the answer
2 correct answers
A.
To define the requirements
B.
To provide supplier appraisal and selection
C.
To define the bargaining strength of the buyer
D.
To provide a means of evaluating the quality or conformance
E.
To minimise the bargaining strength of the supplier

Quiz

6/10
Which of the following are fixed costs? Select TWO that apply.
Select the answer
2 correct answers
A.
Staff overtime
B.
Sales commission
C.
Premises costs
D.
Utilities costs
E.
Materials costs

Quiz

7/10
Which of the following is likely to be an outcome of over-specification?
Ineffective Service Level Agreement (SLA)
Higher supplier costs
Increased Supplier Relationship Management (SRM)
Reduced inventory costs
Select the answer
1 correct answer
A.
1, 3 and 4 only
B.
2, 3 and 4 only
C.
1, 2 and 3 only
D.
1, 2 and 4 only

Quiz

8/10
A UK engineering company imports more than 75% of its products from the US
Select the answer
1 correct answer
A.
No, an inflation index may include retail products and services which are not relevant
B.
No, an inflation index is less accurate than a price adjustment formula
C.
Yes, an inflation index is a realistic way to see if industrial prices are increasing
D.
Yes, an inflation index is a quick way to check how prices are increasing

Quiz

9/10
Is ISO 14000 a series of environmental standards?
Select the answer
1 correct answer
A.
No, it is a series of quality standards including continuous improvement
B.
Yes, it is a series of environmental standards including life cycle analysis
C.
Yes, it is a series of information security standards including financial information
D.
No, it is a series of risk management standards including achieving objectives

Quiz

10/10
A business case allows a company to:
Select the answer
1 correct answer
A.
Assess the costs and benefits of the options available to them
B.
Approve a sourcing strategy and potential suppliers
C.
Approve final spend value for a capital project
D.
Agree a preferred supplier list for a project
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  • Quiz name:L4M2: CIPS Defining Business Needs
  • Total number of questions:304
  • Number of questions for the test:50
  • Pass score:80%

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