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CIPS L5M2 Exam Questions

Exam Name: Managing Supply Chain Risk
Exam Code: L5M2
Related Certification(s): CIPS Level 5 Advanced Diploma in Procurement and Supply Certification
Certification Provider: CIPS
Number of L5M2 practice questions in our database: 120 (updated: Nov. 20, 2024)
Expected L5M2 Exam Topics, as suggested by CIPS :
  • Topic 1: Managing Teams and Individuals: This section covers how to evaluate the different schools of thought and the reasoning behind the variety of approaches to the management of themselves, individuals, and groups or teams within organizations.
  • Topic 2: Managing Supply Chain Risk: This section covers a variety of tools and techniques to establish the level of risk in supply chains and to recommend and apply ways of avoiding, mitigating, or managing risk.
  • Topic 3: Managing Contractual Risk: This section evaluates the legal and process issues relating to the formation of contracts and the legal implications of contractual non-conformance. Candidates are tested for the impacts of breach of contract.
  • Topic 4: Advanced Contract and Financial Management: This section deals with developing measures to ensure and improve contract performance as they assess the concept and use of strategic sourcing.
  • Topic 5: Managing Ethical Procurement and Supply: This section explains the impact of and initiatives to improve, sustainability and the managerial approaches to promote ethical practices in procurement and supply.
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Twanna

3 days ago
I passed the CIPS exam, thanks to the Pass4Success practice questions. There was a challenging question on Advanced Contract and Financial Management, asking about the role of financial hedging in contract management. I had to recall the different financial instruments used for hedging.
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Filiberto

14 days ago
Passed the exam thanks to Pass4Success! There were questions on risk monitoring and review processes. Study continuous improvement techniques and KPIs for risk management effectiveness.
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Ligia

18 days ago
Excited to announce that I passed the CIPS Managing Supply Chain Risk exam. The practice questions from Pass4Success were invaluable. One tough question was on Managing Contractual Risk, focusing on the implications of indemnity clauses. I wasn't certain about the legal ramifications but managed to answer it.
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Tarra

20 days ago
Passed CIPS certification! Pass4Success made a huge difference in my study plan. Highly recommend!
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Lynna

29 days ago
The exam covered risk transfer strategies in depth. Be familiar with insurance, contractual risk allocation, and outsourcing. Understand when each strategy is most appropriate.
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Ria

1 months ago
I did it! Passed the CIPS exam with the help of Pass4Success practice questions. A memorable question was about Managing Ethical Procurement and Supply. It asked about the best practices for ensuring supplier compliance with ethical standards. I debated between regular audits and third-party certifications.
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Leonor

1 months ago
Risk assessment matrices were a key topic in my exam. Practice interpreting and creating these matrices to evaluate likelihood and impact of risks. It's crucial for prioritizing risk management efforts.
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Lilli

2 months ago
Thrilled to share that I passed the CIPS Managing Supply Chain Risk exam. The Pass4Success practice questions were spot on. One challenging question was about Managing Teams and Individuals, specifically on how to handle team conflicts during a project. I wasn't sure if I should prioritize mediation or direct intervention.
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Winfred

2 months ago
Whew, that exam was tough! Glad I used Pass4Success materials - they really helped me prepare quickly.
upvoted 0 times
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Daren

2 months ago
Exam tip: Expect scenarios on supply chain disruptions. You'll need to analyze potential impacts and suggest mitigation strategies. Focus on understanding different types of disruptions and their consequences.
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Bulah

2 months ago
Just passed the CIPS exam! The practice questions from Pass4Success were a lifesaver. There was a tricky question on Managing Supply Chain Risk that asked about the methods to identify potential supply chain disruptions. I had to think hard about the different risk assessment techniques.
upvoted 0 times
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Erasmo

3 months ago
Just passed the CIPS Certified: Managing Supply Chain Risk exam! Be prepared for questions on risk identification techniques. Study common methods like SWOT analysis and brainstorming. Thanks to Pass4Success for the spot-on practice questions!
upvoted 0 times
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Margot

3 months ago
I recently passed the CIPS Managing Supply Chain Risk exam, and I have to say, the Pass4Success practice questions were incredibly helpful. One question that really stumped me was about the key components of Advanced Contract and Financial Management. It asked about the importance of risk allocation in contract terms. I wasn't entirely sure about the best approach, but I managed to get through it.
upvoted 0 times
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Noble

3 months ago
Just passed the CIPS Managing Supply Chain Risk exam! Thanks Pass4Success for the spot-on practice questions.
upvoted 0 times
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Tran

5 months ago
Wow, that CIPS exam was tough! Grateful for Pass4Success - their materials made all the difference. Passed with flying colors!
upvoted 0 times
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Malika

6 months ago
Successfully passed CIPS! Pass4Success's relevant practice questions were key to my quick preparation. Highly recommend!
upvoted 0 times
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Gianna

6 months ago
Aced the CIPS Supply Chain Risk exam! Pass4Success's resources were invaluable. Thanks for the efficient prep materials!
upvoted 0 times
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Yolando

6 months ago
CIPS certified! Pass4Success's exam questions were a lifesaver. Prepared me perfectly in such a short time. Thank you!
upvoted 0 times
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Rosio

7 months ago
Just passed the CIPS Supply Chain Risk exam! Pass4Success's practice questions were spot-on. Thanks for helping me prepare so quickly!
upvoted 0 times
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Free CIPS L5M2 Exam Actual Questions

Note: Premium Questions for L5M2 were last updated On Nov. 20, 2024 (see below)

Question #1

Zara is a procurement manager who is thinking about working with a new supplier to source buttons for her clothes manufacturing business. Her manager has asked her to do some due diligence on the supplier's financial stability. What should she do?

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Correct Answer: A

She should use a credit rating agency for this. She should not do this herself as she won't have access to accurate information like an agency will. The supplier may not have been truthful in their tender. For information on Credit Rating Agencies see p.79


Question #2

Which of the following will you put into box 1?

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Correct Answer: A

The correct answers are as follows:

Nothing can be done to change this risk (you can't stop an earthquake from happening), so you therefore need to transfer the risk to another party, or include for this within a contract.


Question #3

Fudgylicious Inc is a manufacturer of confectionary based in the United Kingdom. In one of its factories an employee has an accident during his shift which resulted in him breaking a leg and requiring surgery. Will the employer's Professional Indemnity insurance cover the cost of the operation?

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Correct Answer: D

The correct answer is 'no-this is not the purpose of insurance'. The question asks if Professional Indemnity Insurance can be claimed on for this- no it can't- that's not its purpose. It would be Employer's Liability insurance which could be claimed on. This question tests your understanding of the different types of insurance. There is a very similar question in the exam- so remember accidents at work are claimed against Employer's Liability insurance NOT Professional Indemnity insurance - see p.96 for more information on different types of insurance


Question #4

The legal principle of insurable interest means which of the following statements are TRUE? Select TWO.

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Correct Answer: B, C

Insurable Interest means that it is not possible to insure someone else's factory. The study guide explains that you can only take out insurance where you have at least partial ownership of that risk. Therefore option 3 is also correct as you have a partial risk if something were to happen to your supplier's factory. You can take out CBI insurance for this. see p.100-101 for further s of Legal Principles of Insurance


Question #5

What is the job of an underwriter?

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Correct Answer: C

An underwriter evaluates insurance applications. Learn the difference between Insurance Underwriters and Claims Adjusters for the exam - this is a known topic. (A claims adjuster determines the validity of an insurance claim).


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