CIPS LEVEL 3 MODULE 1 EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+

CIPS LEVEL 3 MODULE 1 EXAM | QUESTIONS & 100% CORRECT ANSWERS (VERIFIED) | LATEST UPDATE | GRADEA+ What does STEEPLED stand for? (External factors - macro environment) Correct Answer: Sociological, technological, economic, environmental, political, legal, ethical, demographic How many employees does a micro business have? Correct Answer: Less than 10 How many employees does a small business have? Correct Answer: Less than 50 How many employees does a medium business have? Correct Answer: 250 or fewer What are the support activities of porters value chain model? Correct Answer: Firm infrastructure, human resource management, technology development and procurement What are the primary activities of porters value chain model? Correct Answer: Logistics, operations, marketing and sales and after sales service What is a BRD? Correct Answer: Business requirements definition - it answers the "what to buy" question and is based on the needs analysis from operations 2 What does RAQSCI stand for? (a model for identifying business requirements) Correct Answer: Regulatory, assurance of supply, quality, service, cost and innovation What are the two types of field research? Correct Answer: Quantitative research (statistical information) and qualitative research (peoples opinions) What are the 4 categories of the Kraljic matrix? Correct Answer: Critical, strategic, tactical and leverage What is a situation target proposal (STP)? Correct Answer: It is a statement that describes the current situation, paints the vision of the target and lists the elements to be used to get to the target What are SMART objectives? Correct Answer: Specific, Measurable, Achievable, Realistic, Timely What is force majeure? Correct Answer: Force majeure is a powerful and unexpected event, such as hurricane or other disaster, which prevent a contract from being fulfilled What is commissioning? Correct Answer: It is the process of deciding what to spend money on in the public sector What is the restricted procedure? Correct Answer: This is used when the it js anticipated that interest (in bidding) from the supply market will be high. This allows a two stage selection process where inappropriate suppliers are discounted after completing a pre qualification questionnaire 3 What is the competitive dialogue procedure? Correct Answer: This is used when an authority is unsure of their requirements so they engage with suppliers in an attempt to get clarity around their requirements What is cost reimbursable pricing arrangement? Correct Answer: The supplier is reimbursed all of its costs as well as an agreed amount for profit. This is commonly used when the amount of work required isn't clear at the start of the project. What is gain share pricing? Correct Answer: When the supplier achieves a level of performance above what would be expected and the buyer and seller share the savings. What is incentive based pricing? Correct Answer: When the price is tied to the achievement of an agreed level of performance. What is a letter of credit? Correct Answer: A letter from the bank guaranteeing that payment will be made in full on the due date. What is lean thinking? Correct Answer: A business methodology that aims to create more value with fewer resources. What are economies of scale? Correct Answer: reductions in unit cost resulting from production being increased What is a SWOT analysis