CIPS L3M1 questions and answers graded A+ 2024/2025

CIPS L3M1Private incorporated companies are... - correct answer Seperate from their owners Private unincorporated companies have... - correct answer No legal distinction from their owners Sole trader - correct answer Those with exclusive ownership of a business Partnerships - correct answer Legal forms of a business with 2+ owners General partnership - correct answer a type of partnership in which all partners share equally in both responsibility and liability Limited liability partnership - correct answer a type of partnership in which all partners are limited partners limited partnership - correct answer partnership in which only one partner is required to be a general partner incorporated company - correct answer The 2 types are private limited company (Ltd) and public limited company (PLC) plc (public limited company) - correct answer a company whose shares can be traded on the stock market LTD (private limited company) - correct answer A business owned by shareholders when shares are sold by invitation only MSMEs - correct answer Micro, Small and Medium Enterprises MNC (multinational corporation) - correct answer any type of international company that maintains operations in multiple countries Functions of Private Sector: - correct answer Economic growth, profit, market share, cash flow, return on investment, shares In the value chain model, the following are support activities: - correct answer Firm infrastructure, HR management, tech development procurement In the value chain model, the following are primary activities: - correct answer Inbound logistics, operations, outbound logistics, marketing and sales, after sales service RAQSCI model stands for... - correct answer Regulatory, Assurance, Quality, Service, Cost, Innovation A Business Requirement definition... - correct answer Sets out what to buy The main purpose of market intelligence is... - correct answer Identify savings and risks Spend Analysis - correct answer a process that identifies what purchases are being made in an organisation Value of spend - correct answer small purchases represent 20% of the spend and 80% of the work volume. supply positioning matrix - correct answer Plots financial impact against complexity/ supply risk. LL= Tactical. LH=Critical. HL=Leverage. HH= Strategic To form a sourcing strategy, use ___ model for clear communication - correct answer Situation-Target-Propsal Contract management life cycle - correct answer Contract design-contract admin-contract procurement-contract completion