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CIPS-Ethical and Responsible Sourcing L4M4 Paper 17.
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1.
Factors influencing commodity pricing include:
- Supply and demand.
- Exchange rate fluctuations.
- Political conditions.
- conflicts
- Force majeure events.
2.
A futures exchange is a marketplace where sellers agree to sell a commodity at a predetermined price and date in the future.
3.
Hedging is a strategy to manage risk by reducing potential profits in investments.
4.
Experts use the following factors to predict future prices:
5.
To evaluate potential sales, a variety of tools and methods are available. Which one is used?
- Porter's Five Forces
- Supply and demand
- Historical sales data analysis
- Trends
- Expert opinions
6.
Pure competition occurs when there are many suppliers in a market with no control over prices.
7.
Enterprise Resource Planning (ERP) is a system that integrates all business functions into a unified platform
8.
Financial statements typically include three main documents. Which are they?
9.
The role of credit rating agencies is to:
10.
A weighted score is determined by a system that prioritizes the most important criteria based on their score values
11.
Credit rating scores cannot be adjusted for weight.
12.
A Request for Information (RFI) is used to collect details about suppliers' capabilities before entering into a procurement process.
13.
What information is typically gathered by an RFI?
14.
What is the main purpose of a Request for Quotation (RFQ)?
15.
Tendering is usually employed for complex and high-value requirements.
16.
A restricted approach is used when high interest is anticipated, allowing the buyer to create a shortlist of acceptable bidders.
17.
Conflicts of interest are always present in the tendering process.
18.
Phume Inc. has developed a new product, with worldwide patent registration. Profit margins are tight, so selecting the best suppliers is essential. They are open to production process ideas and want to gather information from suppliers before initiating formal competition. What should be the priority action for Phume Inc.?
19.
Is credit rating a relevant criterion when selecting suppliers for a competitive tender?
20.
Which of the following are examples of secondary data that might be useful when sourcing from the market? Select two.
21.
What is the final stage in best tendering practices?
22.
Which of the following is NOT part of the tendering process?
23.
What should be included in a business case when justifying a proposed contract award decision?
24.
Which of the following criteria are commonly applied in the evaluation of quotations or tenders?
- Price
- Total cost of ownership
- Ethical conduct
- Sustainable practices
- Commitment
25.
The weight assigned to each criterion does not necessarily reflect its importance in the decision-making process.
26.
Which of the following is NOT an advantage of the weighted point system?
27.
Which of the following is NOT a disadvantage of the weighted point system?
28.
Buyers should always adhere to the CIPS Code of Conduct when conducting tenders, whether they are competitive or not.
29.
Which of the following areas of regulation should organizations most adhere to?
1. Data protection
2. Ethical practice
3. Health, safety, environment and workers’ rights
4. Market competition
5. Product safety standard
30.
Which of the following describes using the internet to make strategic decisions about how goods and services are sourced?
