CIPS L3M2 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ||ALREADY GRADED A+||NEWEST VERSION

CIPS L3M2 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
||ALREADY GRADED A+||NEWEST VERSION
Quiz: Monetary

Ans: costs that contribute towards making the product



Quiz: Fixed costs

Ans: Costs that do not vary with the quantity of output produced



Quiz: Variable costs

Ans: costs that vary with the quantity of output produced



Quiz: Direct costs

Ans: costs attributed directly to the job or contract



Quiz: Indirect costs

Ans: costs not directly associated with the job or contract




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, Quiz: The 5 Rights of Procurement

Ans: Quantity

Quality

Time

Place

Price



Quiz: Lifetime costing

Ans: total anticipated costs of designing, procuring, running and disposing of a
fixed asset



Quiz: Costs included in Lifetime Costing

Ans: Pre-purchase, item, operating, maintenance, insurance and disposal



Quiz: 5 factors of Organisational Success

Ans: People, purpose, procedures, customers and resources



Quiz: The 3 Es


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© 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.