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CIPS L3M1 Exam Questions
- Topic 1: Different Sectors of Procurement and Supply: Under this heading, there are different subtopics of the various sectors of procurement and supply including description of the categories and functions of private sector, roles, and scope of procurement in the private, public, not-for-profit/third sectors. Understanding the above sub-topics is very essential in an attempt to understand the concept of procurement and supply in general in these different sectors.
- Topic 2: Types of Pricing Arrangements in Commercial Agreements: It focuses on explaining pricing arrangements of use in commercial agreements so an entity can have the most effective price and cost management. This sub-topic is important because through this the role of pricing in procurement and supply can be deciphered.
- Topic 3: External Environment and Its Impact on Procurement and Supply: The external environment and their impact on procurement and supply comprise such subtopics as identification of the impact of the external environment and a description of implications of economic, political, legislative, environmental, ethical, and social criteria on the procurement and supply. Investigating these sub-topics is necessary for comprehending the external factors influencing procurement and supply.
- Topic 4: Procedures that Regulate Procurement and Supply: It refers to the regulations that guide procurement and supply. The subtopics discuss the types of documentation in procurement and supply and how these documented policies and procedures help in working within this field. Knowledge of the subtopics presents an essential overview of how regulatory aspects work in procurement and supply.
Free CIPS L3M1 Exam Actual Questions
Note: Premium Questions for L3M1 were last updated On Sep. 03, 2024 (see below)
Which of the following would often be subject to health and safety legislation?
All answers are correct. Each of these areas can create safety hazards for people in the workplace, and so in many countries government legislation has been passed to make these topics subject to regulation.
For example, within the UK, it is mandatory for employers to provide compulsory training for em-ployees who may be involved in lifting heavy items, and there are limits placed on the weight which can be handled by any one person. In many cases, mechanised lifting equipment is used to aid or replace humans.
The letters 'MNC' stand for:
'Multi-national corporation' is the correct answer. Very large international organisations, with very large turnover, purchasing power and influence. Examples would include: Alphabet, Amazon, Ap-ple, Dell, Ford, Shell, Toyota, etc
Continuously gathering and analysing intelligence from sources such as professional, industry and trade journals, websites, conferences and exhibitions, published reports and online databases is called:
Continuously scanning the environment can bring rewards in the form of new supply companies, new products and services, awareness of supply firm or industry difficulties, etc.
Purchasing research is a very close answer to the correct one, but is likely to be more focussed, spe-cific.
If faced with a difficult choice as to which of two options in the exam is correct, think about what was included as part of your syllabus.
In this case, environmental scanning is the first entry in your Learning Outcome 3.1
'The costs of business activities which are not reflected in the costing of a product or service and paid for by consumers, but which are borne by the wider community -- such as the costs of pollution and associated ill health, traffic congestion or environmental degradation' are known as:
We are now aware that the cost of externalities to society are considerable. A simple example would be that proximity to flow of motor vehicles is likely to increase ill-health requiring state-funded medical services where they exist, to treat at state (taxpayers') expense those who become ill. In the UK the number of people affected this way is believed to be numbered in the tens of thousands an-nually. Thus some businesses' cost structures do not reflect their true cost to society.
Another example would be the discharge of untreated waste into rivers or the sea, where the com-panies undertaking these activities may not be contributing financially to the cleaning up required.
In future years there is likely to be much debate about this, as some people will attempt to find ways to make companies pay the full cost of running their businesses.
A market situation where there is only one supplier is called:
The correct answer is, of course, 'monopoly'.
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