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CIPS L4M4 Online Tests - Latest-updated L4M4 Exam Assessment and Useful Reliable Ethical and Responsible Sourcing Test Question

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CIPS L4M4 Exam Syllabus Topics:

Topic
Details

Topic 1

Understand compliance issues when sourcing from suppliers: It explores legislative, regulatory, and organizational requirements for sourcing. It compares the use of audit and other mechanism of feedback.

Topic 2

Understand the key processes that can be applied to the analysis of potential external suppliers:

Topic 3

This section examines analyzing market data, obtaining quotations
tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.

Topic 4

Understand options for sourcing requirements from suppliers: This section covers the sourcing process, approaches, options, and award criteria for obtaining requirements from suppliers. The sub-topics provide a foundation for strategic sourcing.

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CIPS Ethical and Responsible Sourcing Sample Questions (Q126-Q131):

NEW QUESTION # 126
A buyer might opt to do an 'Invitation to Tender' (ITT) rather than a 'Request for Quotation' (RFQ) process because ...

A. Time is of the essence and decisions need to be made quickly without additional stakeholder involvement
B. The nature of the goods or services being purchased are complex and high value
C. The contract will be low value and there are many suppliers, therefore a simpler approach is required
D. The supplier market is an oligopoly where a few large suppliers dominate the market

Answer: B

Explanation:
An Invitation to Tender (ITT) is used when requirements are complex, high-value, or strategic, requiring detailed supplier submissions, robust evaluation, and structured governance. RFQs are better for low-value, straightforward purchases where price is the main factor. ITTs ensure fairness, transparency, and comprehensive evaluation when the stakes are high. It is not chosen simply because of oligopolies or time pressure. Responsible sourcing requires matching the sourcing process to the complexity and risk of the procurement, ensuring appropriate competition and governance.
Reference: CIPS L4M4 Study Guide (v2), LO: "Implementation" - sourcing procedures and their application.

NEW QUESTION # 127
A company has a requirement for an item that has been identified as strategic on the positioning model. The company needs to invite competitive tenders and make sure the selected supplier of this item is in a good financial position. What should the company ask the suppliers to send to show that their current assets cover their current liabilities?

A. Profit and loss account
B. Gearing ratio
C. Acid test
D. Annual turnover

Answer: C

Explanation:
The acid test, also known as the quick ratio, measures a company's ability to cover its current liabilities with its most liquid assets, excluding inventory. It is a stringent indicator of short-term financial health. By requesting this ratio, the company can assess whether a potential supplier has sufficient liquidity to meet its obligations, which is crucial when procuring strategic items.
Reference:
CIPS Level 4 Diploma in Procurement and Supply, L4M4 Study Guide, Section 2.3: Financial Appraisal of Suppliers

NEW QUESTION # 128
There has been a notable growth in international sourcing in the recent years, despite the many challenges involved. Buyers are therefore expected to develop their skills in this specialised area of sourcing. Which of the following factors may have contributed to this steady increase in international sourcing?

A. Different time zones and cultural norms in various markets
B. National legal frameworks and their interpretation
C. Exchange rate fluctuations and foreign exchange issues
D. The existence of trading blocs and a reduction in trade barriers

Answer: D

Explanation:
The growth in international sourcing has been significantly supported by theexistence of trading blocs and the reduction of trade barriers, such as tariffs and quotas. Trading blocs encourage cross-border trade by simplifying regulations, reducing duties, and improving market access between member countries. Exchange rate fluctuations, cultural differences, and varying legal frameworks representchallenges, not drivers, of international sourcing. Ethical and responsible sourcing requires procurement professionals to understand how global trade agreements and reduced barriers create opportunities for cost savings, supplier diversification, and access to global expertise, while still managing associated risks.
Reference:CIPS L4M4 Ethical & Responsible Sourcing Study Guide (v2) - international sourcing drivers; trade blocs and globalisation.

NEW QUESTION # 129
A "carnet" provides evidence of the origin of goods shipped in international trade. Is this correct?

A. Yes, only used when exporting goods from Europe
B. Yes, a widely used import document confirming origin
C. No, it is a type of insurance cover
D. No, it allows temporary free movement of goods

Answer: D

Explanation:
An ATA Carnet is an international customs document that allows temporary duty-free movement of goods for exhibitions, trade fairs, or professional use. It is not a certificate of origin, which proves where goods are manufactured, nor is it insurance. Carnets reduce administrative barriers and duties for temporary imports
/exports. Responsible sourcing requires buyers to understand the correct use of trade documents to ensure compliance and avoid penalties, while distinguishing between documents that confirm origin, provide insurance, or facilitate temporary movement.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - international trade documentation.

NEW QUESTION # 130
Sourcing is part of the procurement cycle and is likely to be used in conjunction with which activities? (Select TWO)

A. Uploading goods received notes
B. Creating call-off orders
C. Requesting quotations
D. Identifying potential suppliers
E. Raising purchase requisitions

Answer: C,D

Explanation:
Sourcing relates to identifying suppliers (E) and requesting quotations (D) as part of the market engagement stage of the procurement cycle. By contrast, creating call-off orders, raising requisitions, and goods receipting are post-contract operational activities. Responsible sourcing highlights that supplier identification and quotations are key to ensuring ethical, competitive, and compliant supply chains. These activities help ensure alignment with organisational goals, supplier diversity, and sustainability objectives.
Reference: CIPS L4M4 Study Guide (v2), LO: "Application" - sourcing activities within the procurement cycle.

NEW QUESTION # 131
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