CIPS L4M1 LO3 EXAM QUESTIONS AND
ANSWERS
Corporate Governance - ANSWER Mechanisms, procedures and processes
that are used to control and direct an organisation.
Ethics - ANSWER Principles that govern a person's or an organisations
behaviour
Values - ANSWER Importance or worth that an attribute has for an individual
or stakeholder group.
Value advantage
Conflict of interest (COI) - ANSWER Where an individual is unable to remain
impartial due to a personal, professional or public interest
The 4D model - ANSWER 1. Disclose
2. Distance
3. Delegate
4. Disassociate
Ethical Procurement - ANSWER Ensuring that goods, works, and services are
acquired in a responsible and sustainable manner to show respect for people in
the supply chain and the environment such as fraud, corruption, bribery, modern
slavery, human rights.
, CIPS Code of Conduct - ANSWER A document stating the standards,
behaviours and actions that a CIPS member must conform to during their
membership of the organisation
CIPS code of Conduct - 5 areas - ANSWER 1. Enhance and protect the
standing of the profession
2. Maintain the highest standard of integrity in all business relationship
3. Promote the eradication of unethical business practices
4. Enhance the proficiency and stature of the profession
5. Ensure full compliance with laws and regulations
Code of conduct - ANSWER A set of regulations created by an organization
that specify appropriate behaviors and values that should be adopted and
practiced by a member of that organization, in order for one to act accordingly,
as well as to portray consistency and maintain the standards of the organization
Continuing professional development (CPD) - ANSWER Undergoing training
or attending courses in order to gain knowledge
Procurement policies and strategies ANSWER Principles adopted by the
organisation.
High level planning, including setting direction and long-term goals.
Procedure - ANSWER A method by which a task should be undertaken
Policies - ANSWER Principles adopted by the organisation
ANSWERS
Corporate Governance - ANSWER Mechanisms, procedures and processes
that are used to control and direct an organisation.
Ethics - ANSWER Principles that govern a person's or an organisations
behaviour
Values - ANSWER Importance or worth that an attribute has for an individual
or stakeholder group.
Value advantage
Conflict of interest (COI) - ANSWER Where an individual is unable to remain
impartial due to a personal, professional or public interest
The 4D model - ANSWER 1. Disclose
2. Distance
3. Delegate
4. Disassociate
Ethical Procurement - ANSWER Ensuring that goods, works, and services are
acquired in a responsible and sustainable manner to show respect for people in
the supply chain and the environment such as fraud, corruption, bribery, modern
slavery, human rights.
, CIPS Code of Conduct - ANSWER A document stating the standards,
behaviours and actions that a CIPS member must conform to during their
membership of the organisation
CIPS code of Conduct - 5 areas - ANSWER 1. Enhance and protect the
standing of the profession
2. Maintain the highest standard of integrity in all business relationship
3. Promote the eradication of unethical business practices
4. Enhance the proficiency and stature of the profession
5. Ensure full compliance with laws and regulations
Code of conduct - ANSWER A set of regulations created by an organization
that specify appropriate behaviors and values that should be adopted and
practiced by a member of that organization, in order for one to act accordingly,
as well as to portray consistency and maintain the standards of the organization
Continuing professional development (CPD) - ANSWER Undergoing training
or attending courses in order to gain knowledge
Procurement policies and strategies ANSWER Principles adopted by the
organisation.
High level planning, including setting direction and long-term goals.
Procedure - ANSWER A method by which a task should be undertaken
Policies - ANSWER Principles adopted by the organisation
