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CIPS Level 4 Diploma in Procurement and Supply L4M2 Exam Questions and Answers PDF

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Question 12

Why should the buying organisation require the supplier to carry out acceptance testing?

Options:

A.

To get the approval from the senior management

B.

To check whether the product matches the specification

C.

To compare between the account payables and account receivables

D.

To see whether the supplier engages in unethical business practice

Question 13

A procurement manager is requested to source a major component. She needs information on sup-pliers’ direct and indirect cost, fixed and variable costs to prepare for negotiations. Therefore, she collects 17 annual reports from potential suppliers who are competing in the same industry. In order to estimate an approximate value of fixed and variable costs in that industry, which of the following technique should be adopted by the procurement manager?

Options:

A.

Line of best fit

B.

Variance calculation

C.

Total cost of ownership

D.

Open-book costing

Question 14

Which of the following are considered as direct costs in a construction company? Select TWO op-tions

Options:

A.

Raw materials

B.

An employee is hired to work on a project, either exclusively or for an assigned number of hours

C.

The materials and supplies needed for the company’s day-to-day operations.

D.

Advertising and marketing communication

E.

Clerical assistants who maintain the office

Question 15

When procuring a machinery, at which stage buyer must check whether it is working to the stand-ards set out in the design specification?

Options:

A.

Installation

B.

Maintenance and repair activities

C.

Customer support

D.

Manufacture

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Exam Code: L4M2
Exam Name: Defining Business Needs
Last Update: Mar 28, 2024
Questions: 144
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