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Which of the following incoterms relate specifically to transporting items over water?
Philip is a procurement manager at XYZ Company which imports raw materials from abroad. Sup-pliers provide quotes to Philip in their local currency. Is this the best way to reduce the risk to XYZ Company of currency fluctuations?
GDP is an economic index that a procurement professional can use to measure economic data. What does GDP tell you?
Raja is a procurement manager who is keen to gain further insight into the current marketplace and whether local suppliers are capable to provide a service he is looking to procure. He wishes to test the market before he begins a formal tender process. What should Raja do?
The use of Incoterms will eliminate all risks involved in international trade transactions. Is this statement true?
Rules regulating the type of goods and the volume that can be imported into a country or trade block are commonly known as what?
A procurement manager of a medium-sized company has suggested to their executive board that implementing an ISO environmental standard would improve procurement practices and reduce environmental and social impacts. However, some colleagues are concerned about the potential complexity and supplier resistance. Should the company go ahead with the recommendation?
What information would you expect to find on a supplier's response to a 'Request for Information'? Select TWO
What course of action should be taken when an audit of a supplier identifies evidence of human rights malpractice?
The International Chamber of Commerce (ICC) publish a list of commercial rules known as Inco-terms. What is the purpose of these rules?
Which of the following is not a Human Rights as protected by the UN Declaration on Human Rights?
Which of the following are considerations when evaluating quality as a criterion for supplier selection? Select TWO that apply.
In a negotiation, a supplier does not want to upset or offend the buyer, so concedes their own requirement in order to ensure harmony. Which negotiation tactic is the supplier using?
Steff is a procurement manager at Giant Buttons Ltd who are considering offshoring a small section of their manufacturing operations. Which of the following is a risk of offshoring that Steff should consider.
In the Public Sector, what is the evaluation criteria most often used when evaluating bids from suppliers?
If a company is concerned with ethical sourcing and has concerns about issues such as corruption and modern day slavery within the supply chain, what course of action should they take?
The sourcing process is considered to include the initial stages of the generic procurement cycle, up to the stage where the contract is awarded to the successful bidder. The stages in the sourcing process may include ...
Credit rating agencies can assist procurement professionals. Typically, which of the following can be obtained from a credit rating agency report? Select TWO that apply.
Under what circumstances can a buyer reduce timescales for a tender in the Public Sector?
Henry is importing cheese from South East Asia into the UK. He is doing some research on the costs and risks of this and has discovered that the product may be considered of 'non-preferential origin'. What implications would this mean for Henry?
Which of the following are remedial actions that may be undertaken by the purchasing organisation following a supplier audit? Select the TWO that apply.
Pierre is constructing a tender for a security contract. As well as cost, he would like to ask the security companies some questions about their health and safety processes and staff qualifications. He has created several questions and weighted these so that they add up to 25. is this the correct thing to do?
Procurement professionals should never appoint any suppliers that have a low credit rating. Is this statement TRUE?
Which of the incoterms listed are suitable for transporting goods via train?
In which circumstances would a procurement manager effectively use competitive tendering for the award of contracts?
As a procurement officer for a large organisation, a supplier approaches you on social media offering to take you out for dinner to discuss a recent open opportunity and mentions a financial reward if you help them win the business. You accept the invite. Was this the right thing to do?
Which of the following are signs that modern-day slavery might be taking place within the supply chain? Select THREE.
In which type of market would you be most likely to find a 'perfect competition'?
If a commodity index shows that the price of a commodity is continually rising, what does this indicate about the market?
Tulip Rose Industries is using a restricted approach to tendering for a new contract for the facilities management of their seven factories which produce furniture made of organic materials. What is likely to be the reason they are using a restricted approach?
According to the CIPS code of conduct, which laws should a procurement professional adhere to?
What are some of the benefits of conducting unscheduled supplier audits? Select TWO that apply.
Which of the following financial documents would show whether a supplier has sufficient funds to pay their subcontractors in the short term?
During which stage of the procurement cycle would you remove suppliers that do not add value, or could pose a risk to the buying organisation?
Which of the following should be assessed in supplier proposals to check compliance with environmental, social, and governance (ESG) standards? Select THREE that apply.
A supplier operates in a monopolistic market where the threat of entry is low. The product that they offer is key in manufacturing certain types of submarines and there is no known substitute for the product at present. What type of sourcing relationship is a buyer likely to have with this supplier?
Mark is a category manager responsible for buying large pieces of laboratory equipment in the public (government) sector. Which of the following Incoterms would ensure that an overseas supplier is responsible for paying all delivery costs, including import duties and taxes for these goods?
Bob works in the procurement department of a construction firm. He has been asked to procure an item for a short-term project which is considered low risk. What type of sourcing will he be completing?
Faisal is a medical equipment maintenance services procurement specialist within a local hospital. Faisal is responsible for ensuring contracts are in place that will ensure operational continuity of high-value pieces such as radiology equipment. When carrying out tender opportunities for these services, Faisal will specify, as an essential requirement, that certain standards are adhered to. Which of the following is a benefit of incorporating standards as a requirement within a specification?
When assessing the financial performance of a potential supplier, it is important to understand how much gross profit they are making. The gross profit margin ratio uses which of the following pieces of information from the profit and loss (statement of financial performance)? Select TWO that apply.
When looking at credit scores, a supplier may be classified as a high risk for reasons that are notlinked to poor credit. Which of the following could these be? Select TWO
An organisation wants to measure its Triple Bottom Line. Which of the following should be considered to help achieve this goal?
Daniel is evaluating bids from new suppliers who are looking to supply his company XYZ Indus-tries with components for manufacturing. Although price is important, Daniel wishes to consider 'added value'. Which of the following is considered an 'added-value solution'? Select THREE
When selecting a supplier on technical merit, its important that the supplier is a good 'functional fit' for the organisation. What is meant by 'functional fit'?
Robert is appraising suppliers and is keen to evaluate suppliers' contribution to the community and the environment. Which of the following should Robert look at?
TESTED 23 Nov 2024