CIPS L4M8 CHAPTER 2 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) ||ALREADY GRADED A+||NEWEST
VERSION
Quiz: Sourcing involves
Ans: identifying and vetting those suppliers who are able to supply the product
or service, as required in a specification from a procurement professional
Quiz: Different stages of Ordering
Ans: - User need
- Raise requisition
- Approved process
- Issue PO
- Receive goods/service
- Approve invoice
Quiz: Different stages of Sourcing
o
o
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, Ans: - Understand the need
- Develop strategy
- Raise requisition
- Source suppliers
- Issue ITT/RFQ
- Negotiate and award contract
- SRM/contract management
Quiz: Sourcing can take place in the following locations
Ans: - Localised
- Regional
- National
- Global
Quiz: Localised sourcing
Ans: conducted with suppliers who are near to the buying organisation
Quiz: Regional sourcing
o
o
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, Ans: conducted with suppliers in the same area, but slightly further away than
the localised choices
Quiz: National sourcing
Ans: conducted throughout an entire country. EG suppliers may be hundreds of
miles away from the buying organisation but they are still controlled by the same
legislation and regulations
Quiz: Global sourcing
Ans: conducted worldwide. This type of sourcing often involves different
legislation and regulations to those of the buying organisation
Quiz: The buyer needs to think about the following factors when deciding
which type of sourcing is best
Ans: - Urgency of need: local suppliers shorter lead times
- Volume of need: larger quantities for economies of scale better for global
sourcing
- Quality of need: high quality may need further than local
- Budget allocated to need: low budget may need global sourcing
o
o
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, Quiz: Contracts can either be
Ans: Verbal or Written
Quiz: The five stages of forming a contract
Ans: 1. Intention
2. Capacity
3. Offer
4. Consideration
5. Acceptance
Quiz: Stages of a contract: 1.Intention
Ans: the contracting parties must intend to enter into a legal contract. If there is
no intention to create a legal relationship, the contract is not legally binding
Quiz: Stages of a contract: 2. Capacity
Ans: all parties should be of sound mind and fully aware of their contractual
obligations
Quiz: Stages of a contract: 3. Offer
o
o
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CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) ||ALREADY GRADED A+||NEWEST
VERSION
Quiz: Sourcing involves
Ans: identifying and vetting those suppliers who are able to supply the product
or service, as required in a specification from a procurement professional
Quiz: Different stages of Ordering
Ans: - User need
- Raise requisition
- Approved process
- Issue PO
- Receive goods/service
- Approve invoice
Quiz: Different stages of Sourcing
o
o
© 2025 TestTrackers
WhatsApp or call o Resources & Updates: [Testtrackers - Stuvia US]
o Your Success is Our Mission!
[+254707240657]
o For online exams and tutor expert, please whatsapp
me in the number given.
, Ans: - Understand the need
- Develop strategy
- Raise requisition
- Source suppliers
- Issue ITT/RFQ
- Negotiate and award contract
- SRM/contract management
Quiz: Sourcing can take place in the following locations
Ans: - Localised
- Regional
- National
- Global
Quiz: Localised sourcing
Ans: conducted with suppliers who are near to the buying organisation
Quiz: Regional sourcing
o
o
© 2025 TestTrackers
WhatsApp or call o Resources & Updates: [Testtrackers - Stuvia US]
o Your Success is Our Mission!
[+254707240657]
o For online exams and tutor expert, please whatsapp
me in the number given.
, Ans: conducted with suppliers in the same area, but slightly further away than
the localised choices
Quiz: National sourcing
Ans: conducted throughout an entire country. EG suppliers may be hundreds of
miles away from the buying organisation but they are still controlled by the same
legislation and regulations
Quiz: Global sourcing
Ans: conducted worldwide. This type of sourcing often involves different
legislation and regulations to those of the buying organisation
Quiz: The buyer needs to think about the following factors when deciding
which type of sourcing is best
Ans: - Urgency of need: local suppliers shorter lead times
- Volume of need: larger quantities for economies of scale better for global
sourcing
- Quality of need: high quality may need further than local
- Budget allocated to need: low budget may need global sourcing
o
o
© 2025 TestTrackers
WhatsApp or call o Resources & Updates: [Testtrackers - Stuvia US]
o Your Success is Our Mission!
[+254707240657]
o For online exams and tutor expert, please whatsapp
me in the number given.
, Quiz: Contracts can either be
Ans: Verbal or Written
Quiz: The five stages of forming a contract
Ans: 1. Intention
2. Capacity
3. Offer
4. Consideration
5. Acceptance
Quiz: Stages of a contract: 1.Intention
Ans: the contracting parties must intend to enter into a legal contract. If there is
no intention to create a legal relationship, the contract is not legally binding
Quiz: Stages of a contract: 2. Capacity
Ans: all parties should be of sound mind and fully aware of their contractual
obligations
Quiz: Stages of a contract: 3. Offer
o
o
© 2025 TestTrackers
WhatsApp or call o Resources & Updates: [Testtrackers - Stuvia US]
o Your Success is Our Mission!
[+254707240657]
o For online exams and tutor expert, please whatsapp
me in the number given.
