Latest ISM CPSMB Actual Free Exam Questions & Community Discussion, Page 5

Question #61

The required government form to track exports for statistical purposes is the?

A. Dock receipt of statistical report.

B. Export declaration document.

C. Export bill of lading.

D. Consular invoice export document.

Discussion 0

Correct Answer: B Vote an answer

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Question #62

Supply management processes involve numerous legal considerations. A law which specifically governs the relationship that exists between two parties in which one party is the agent and one party is the principal and the agent is authorized to perform business activities for the principal is known as?

A. Law of Fiduciary duty

B. Limit of authority

C. Law of Principal duty

D. Law of agency

Discussion 0

Correct Answer: D Vote an answer

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Question #63

If the supply management professional was developing a value statement all of the following are critical areas to be considered with the exception of what? This includes treatment of suppliers, treatment of employees and?

A. The allocation of scarce resources.

B. Resource allocation capital vs. labor

C. Performance measurement

D. Hiring practices

Discussion 0

Correct Answer: A Vote an answer

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Question #64

An organizations social responsibility policy would provide guidance for all of the following EXCEPT.

A. How they will buy.

B. When they will buy.

C. Where they will buy.

D. From whom they will buy.

Discussion 0

Correct Answer: B Vote an answer

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Question #65

You have determined there may be several issues hindering performance in your supply program and reasons for three quarters of slumping revenue. The FIRST step to serious improvement should be what?

A. Auditing supply management processes.

B. Notifying organization management.

C. Notification of suppliers.

D. Notification to stakeholders.

Discussion 0

Correct Answer: A Vote an answer

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Question #66

Intellectual property is a form of legal risk which is also known as confidential and proprietary information.
Which description would be most appropriate for a trademark?

A. A monopoly created by law that gives the patent holder the sole right to make use or sell an article and prevent others from doing so without their permission.

B. Commercial information describing a plan, process, or mechanism which is only known by the owner and a limited number of others, and is commonly protected by a confidentiality agreement.

C. Protection provided by law for authors and creators of intellectual property providing for exclusive rights to publish.

D. An identifying label, symbol, or words which exclusively identify a product or service.

Discussion 0

Correct Answer: D Vote an answer

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Question #67

When the supply management professional works internationally the management skillset increases.
They need to be aware of culture, local business requirements, support infrastructure, risks, and costs.
Understanding cultural norms will provide the supply management professional with?

A. Greater effectiveness in supply management interactions.

B. Improved sales in supply management interactions.

C. Improved communication in supply management interactions.

D. Shorter lead times in supply management interactions.

Discussion 0

Correct Answer: A Vote an answer

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Question #68

Intellectual property is a form of legal risk which is also known as confidential and proprietary information.
Which description would be most appropriate for a copyright?

A. A monopoly created by law that gives the patent holder the sole right to make use or sell an article and prevent others from doing so without their permission.

B. Commercial information describing a plan, process, or mechanism which is only known by the owner and a limited number of others, and is commonly protected by a confidentiality agreement.

C. Protection provided by law for authors and creators of intellectual property providing for exclusive rights to publish.

D. An identifying label, symbol, or words which exclusively identify a product or service.

Discussion 0

Correct Answer: C Vote an answer

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Question #69

Sarah Galloway is the supply management professional for Constant Industries she has an awareness of the functions that are most influential in the organization. In a manufacturing environment or organization she knows which three influences have power?

A. Operations, engineering, and marketing.

B. Development, logistics, sales

C. Marketing, logistics, sales

D. Design, management, supply

Discussion 0

Correct Answer: A Vote an answer

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Question #70

The feasibility of an outsource solution is usually a combination of an organization strategy and the availability of a capable outsourced partner. The activities of an organization can be divided into three groups which include all of the following except which one?

A. Ancillary

B. Core

C. Fixed

D. Enabling

Discussion 0

Correct Answer: C Vote an answer

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Question #71

Lose-Lose or confrontational negotiation philosophy is used when?

A. Both parties lose the contract in a negotiation.

B. Both parties already know they win in a negotiation.

C. Both parties require no negotiation.

D. Both negotiators have a low degree of concern for their own and the others outcomes.

Discussion 0

Correct Answer: D Vote an answer

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Question #72

An individual or organization licensed by a government to assist in processing incoming shipments through customs is called a/an?

A. Custom Commissioner individual or organization.

B. Custom Broker individual or organization.

C. Customs licensee individual or organization.

D. Border customs individual or organization.

Discussion 0

Correct Answer: B Vote an answer

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Question #73

The stakeholder alignment process consists of four steps Which of the following is NOT included in these steps?

A. Track results and design follow-up actions

B. Dissolve alignment strategies

C. Develop alignment strategies

D. Define the outcome of stakeholder alignment

Discussion 0

Correct Answer: B Vote an answer

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Question #74

The supply manager of your organization just underwent an audit of internal processes. She is now preparing for an audit which provides assurance of the reliability of financial reporting. This audit is required by whom?

A. International Organization for Standardization (ISO)

B. The Sarbanes Oxley Act (SOX)

C. US Department of Commerce

D. The Generally Accepted Accounting Principles (GAAP)

Discussion 0

Correct Answer: B Vote an answer

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Question #75

A document that notifies a carrier that an item may only be delivered to certain destinations is referred to as a/an?

A. Destination control statement.

B. Declaration hold document.

C. Restricted control package document.

D. Limited distribution label of transport.

Discussion 0

Correct Answer: A Vote an answer

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