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Prepare for the CIPS Ethical Procurement and Supply 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.
QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the CIPS L3M2 exam and achieve success.
The questions for L3M2 were last updated on Feb 19, 2025.
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The abbreviation 'KPI' stands for:
Key performance indicator, designed to monitor a small number of critically-important aspects of supplier performance, indicated within a contract or a service level agreement as part of a contract.
In developed economies such as the European Union and North America, there is no forced labour (modern slavery) in supply chains. True or false?
The statement is false.
CIPS actively campaigns against modern slavery anywhere in the world.
Which two of the following would be unlikely to increase value for money for an organisation?
Suppliers entertain to retain or generate business - there is a cost to this, which is recovered from customers - the antithesis of value for money. Late bids are sometimes related to inflated prices and instances of malpractice. A late bid is extremely unlikely to increase value for money in the long term and is a serious breach of organisational procedure.
The abbreviation 'SOP' stands for:
Standard operating procedure.
A set of step-by-step instructions to direct employees how to perform routine operations (Profex Publishing).
In the period in question, the budget for staff overtime and bonuses is zero.
The actual expenditure is 2,900.
Is this variance:
The variance is adverse - more was spent than budgeted - this is not favourable.
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