CIPS L3M3 Actual Free Exam Questions & Community Discussion
'The CIPS Code of Conduct states that procurement professionals should not accept any business gifts under any circumstances.' True or false?
Correct Answer: B
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'When the supplier delivers the goods as ordered, two further documents are created.
a) The supplier's XXX XXX, included with the goods
b) The buyer's YYY YYY YYY'
Choose the correct replacement words.
a) The supplier's XXX XXX, included with the goods
b) The buyer's YYY YYY YYY'
Choose the correct replacement words.
Correct Answer: D
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Which of the following are internal factors in supplier decision-making? Choose two.
Correct Answer: C,D
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In the written presentation of a business case, a brief explanation of everything in the case, includ-ing the ultimate recommendation, aimed at people (eg senior managers) who have little time to plough through the details.
Correct Answer: D
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In this course, the acronym 'CPA' stands for:
Correct Answer: A
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Tolerate, transfer, terminate or ...?
Correct Answer: B
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A concise structured document showing all risks for a contract / unit / organisation, including details of nature of risk, risk owner, anticipated impact, possible responses, etc
Correct Answer: A
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What is the term for a situation where a seller sets a high introductory price for a new product, to attract buyers who have a strong desire to get the product early, and who can afford it? The price then gets gradually reduced over time.
Correct Answer: C
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'Profit is not a cost'. True or false?
Correct Answer: A
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A bottle of sparkling water sells for $1. The variable cost is 50 cents. Fixed costs for the business are $100,000 (one hundred thousand dollars). How many bottles of water must be sold for the business to reach breakeven point?
Correct Answer: C
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