CIPS L4M2 Exam Questions well answered graded A+ 2024/2025

CIPS L4M2 Exam Questions Question: 1 The position of a product in its life cycle can affect the price that suppliers set. Is this statement correct? - correct answer A. No, in market economy, the state decides the price of all goods and services B. Yes, each stage in product life cycle requires different levels of investment in promotion and distribution C. No, customer's perception of value is the ultimate determinant of the suppliers' price D. Yes, it is always the only factor determining the price Question: 2 A CPO is making a business case for acquiring a new computer system. He has set out objective, generated options, cost and benefit of each option and implementation plan. Which of the following elements should be included in the business case? - correct answer A. Risk assessment B. Operation management C. Invitation to tender D. Contract management Question: 3 What is the document that defines the activities, deliverables and timelines a supplier must carry out during contract performance? - correct answer A. Statement of work B. Project initial document C. Framework agreement D. Work instruction Question: 4 A procurement manager is writing a conformance specification for a non-core component. She thinks that if the requirements in specification are higher than ISO standards, her company can achieve greater cost-savings. Is the procurement manager's opinion correct? - correct answer A. No, because higher specification may incur additional costs for the buyer B. No, because higher requirements in specification, the greater bargaining power of buying organisation C. Yes, because optimising the specification is the only method to achieve value for money D. Yes, because higher requirements will help buying organisation find the best supplier Question: 5 British Steel needs to source a set of instruments that will improve quality of steel. Without these instruments British Steel will loss control of the temperature. The bucket may freeze up, or if it is too hot it leaks out of the casting process, damaging the machine. There is limited supply on the market and quality varies greatly. Which of the following will be the most appropriate managing approach to procure these items? - correct answer