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Prepare for the CIPS Ethical and Responsible Sourcing 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 L4M4 exam and achieve success.
The questions for L4M4 were last updated on Nov 21, 2024.
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Dylan is looking to appoint a new supplier of paint to his manufacturing business. The paint will be used to paint buses and taxis and therefore needs to be high quality and durable. Which of the following should Dylan look for in terms of quality management when appraising the suppliers?
ISO9001 is Quality Management so is therefore the correct answer. The other options can be used to appraise suppliers but do not link directly or fully to Quality Management.
The gross profit of a company can be calculated by using a simple formul
a. What is this?
gross profit = total revenue - cost of sales.
Learn all you can about financial ratios and financial statements for the exam- it's a very common topic
Which of the following financial documents would show whether a supplier has sufficient funds to pay their subcontractors in the short term?
A cash flow statement shows the money coming in and out. This would therefore show whether a supplier has enough money coming in, to be able to pay some of it out to a subcontractor.
P&L and Balance Sheets look more broadly at finances, rather than saying what's physically in the bank at a specific given time.
Do learn the difference between these three financial documents for the exam.
Balance Sheet: , Components, and Examples (investopedia.com)
Profit and Loss Statement Meaning, Importance, Types, and Examples (investopedia.com)
Cash Flow Statement: How to Read and Understand It (investopedia.com)
During the quality assurance of a supplier, Margaret is looking for an international standard that shows the supplier's commitment to sustainable procurement. What document should the supplier provide to show this?
ISO 20400 is sustainable procurement.
14000 is environment
9001 is quality management
27001 is information security
When looking at credit scores, a supplier may be classified as a high risk for reasons that are not linked to poor credit. Which of the following could these be? Select TWO
New organisations or those with no loans/ credit cards may have low credit scores. This is simply because they do not have enough financial history to make their scores good. That means banks au-tomatically class them as higher risk, because they simply don't know that they're trustworthy yet.
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