CIPS L3M3 Actual Free Exam Questions & Community Discussion
Which two of the following constitute part of a common risk assessment or risk evaluation formula?
Correct Answer: A,B
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Transfer of the rights and obligations of a contract onto a third party, is called:
Correct Answer: A
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Which of the following are barriers to trade?
Correct Answer: A,B,C,E,F
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In which quadrant of a SWOT analysis would the following appear? 'Ageing workforce, strong trade union representation, under-trained procurement department'.
Correct Answer: A
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According to Lysons and Farrington, two authors recommended by CIPS, which of the following are cost-based pricing models, as opposed to market-driven pricing models? Choose two.
Correct Answer: A,D
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What do we call the point when the supply firm makes neither a profit nor a loss ie where all costs are covered yet no profit is made?
Correct Answer: B
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What do we call it when a seller sets a low introductory price to win customers, or to discourage competitors owing to the low margins achievable in the marketplace? Choose one.
Correct Answer: D
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When a proposal fits with organisational strategy / direction / values, this can be described as:
Correct Answer: A
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Which of the following is least likely to be called a 'spot' purchase?
Correct Answer: C
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What is the name given to costs which do not vary as activity levels in a business increase or de-crease?
Correct Answer: A
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