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Prepare for the CIPS Procurement and Supply Environments exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
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The questions for L3M1 were last updated on Apr 1, 2025.
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Sources of finance for a public sector entity are primarily (select one):
The correct answer is 'taxpayers'. On occasion, part of a public sector organisation may make sales which will generate revenue. In some mega-projects (eg power generation), public sector bodies will sometimes into long-term arrangements with private sector financiers, but this is not the mainstream. Delaying payments to suppliers is a tactic used by some organisations, but they are more likely to be private sector, and such a practice is regarded as unethical by many, including CIPS.
As well as a Goods Received Note (GRN), three-way matching to authorise a payment to a supplier should involve two other documents. Which two?
The GRN, invoice and PO should all match to enable payment to occur.
The BoM will help calculate the extent of the requirement, prior to the PO being issued.
An SLA will help ensure adequate and contractual delivery of any services required.
Value for money can be defined by 'the three E's',
Select those which are not part of 'the 3 E's'.
The 3 E's are economy, efficiency, effectiveness. The 3 E's are often seen as part of the role of pro-curement in an organisation.
Therefore all the other answers here should be selected, as they are not part of the 3 E's.
The 3 E's are often seen as part of the role of procurement in an organisation.
Public sector procurement has a wider group of stakeholders than private sector. True or false?
This is normally true, often resulting in greater complexity in managing public sector organisations.
Which of the following might be objectives of private sector organisations? Select all that apply.
To gain market share and to create shareholder value (increase the value of shares) are common aims of private sector organisations.
The other two answers are the antithesis of what firms usually want.
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