CIPS Ethical Procurement and Supply - L3M2 Exam Practice Test
In a tender process, if a bidder realises there is a mistake in their bid submission, for most buying organisations, under what circumstances will the buyer allow the bidder to alter their submission, to correct their error?
Correct Answer: D
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In a manufacturing business, there are two important materials budgets. One is called 'materials pur-chases budget' and the other is called 'materials XXX budget'. What is the missing word?
Correct Answer: A
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You work as a buyer for a large international corporation. You are currently involved in managing a high-value tender, and one of the potential bidders offers to take you to a horse-racing event, with all expenses paid. The offer is for you alone; not for colleagues in your organisation. What do you do?
Correct Answer: B
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Key Performance Indicators could be said to be:
Correct Answer: B
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'Reputation gained through proficiency, ability or achievement' (as used in the CIPS Code of Con-duct)
Correct Answer: D
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The price / cost ...
Correct Answer: A
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The usefulness of lifetime costing is for decision-making about whether to acquire an asset with an expected:
Correct Answer: C
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Spot the odd one out.
Correct Answer: C
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OTIF stands for:
Correct Answer: D
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Select the two words which explain least well why the procurement of services can be more chal-lenging than the procurement of physical products:
Correct Answer: C,F
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