Before you begin ✍️
You are about to practice the questions set for
Managing Supply Chain Risk L5M2 Paper *7.
Please put away any distractions and focus all your efforts on passing.
⏱️Time limit: 1 hour 30 minutes
At the end of your examination practice, you will
📝 View your grade
✅ View the correct answers
NOTE: The answers provided haven't been verified by an official CIPS-affiliated entity, therefore consider discussing your concerns with the instructor or fellow students for clarification.
To begin your exam practice,
wait a few seconds for the start button to appear,
then tap the START button.
"We're rooting for you all the way!" All the best. 😃
1.
Which of the following are considered fundamental international labour standards?
1. Freedom from casual labour
2. Freedom from untrained labour
3. Freedom from forced labour
4. Freedom from discrimination
2.
ISO 20400 aligns with.................. the UN Guiding Principles, ISO 26000 on social responsibility, ISO 31000 on risk management, and ISO 14001 on environmental management.
3.
Which methods can be used to reduce the risk of adverse currency fluctuations? Choose four that apply.
4.
The ETI Base Code is founded on the principles of the ILO's core labour conventions.
5.
What term refers to the framework through which companies are directed and controlled?
6.
ISO 31000 defines risk as the “influence of uncertainty on __________.”
7.
To assess a supplier's financial health, purchasing organizations should prioritize:
8.
Sustainable development is progress that fulfills the ______ of the present while ensuring future generations can meet their own needs.
9.
The seven key areas and issues related to social responsibility, as outlined in ISO 26000 and ISO 20400, are:
10.
The act of replacing damaged or faulty products and materials is considered:
11.
Product Manufacturing Group (PMG), based in the UK, has recently begun sourcing materials from Europe and needs to pay its supplier in Euros. This marks PMG's first experience with Euro-denominated payments. However, PMG also sells its products in European markets and has Euro receivables. Which of the following options would be the most suitable for PMG to manage its exposure to Euro currency risk?
12.
The level of risk an organization is willing to accept, tolerate, or be exposed to at any given moment.
13.
The Sarbanes-Oxley regulations primarily focus on:
1. Investor protection
2. Product quality
3. Clear commercial advertising
4. Corporate financial disclosure
14.
Under ethical labor standards like SA8000, the regular workweek should not exceed:
15.
The ETI Base Code includes:
16.
The system through which companies are managed and governed is known as...
17.
One advantage of using NEC standard contracts is:
18.
A drawback of using standard form contracts is that:
19.
Utmost good faith in legal terms refers to:
20.
What risk is mitigated by including an inspection clause before acceptance?
21.
A claims adjuster is responsible for:
22.
If an event happens in an NEC contract that the contractor considers a compensation event, they must:
23.
What are indemnity clauses in a contract?
24.
When compensation events occur in NEC contracts, they result in supplementary payments to the contractor.
25.
What is a primary advantage of a commercial customer choosing to self-insure a risk?
