Free CIPS L3M1 Exam Dumps Questions & Answers

The principle that different spends may require different procedures, with different levels in the or-ganisational hierarchy having different spend authorisations is called:

• A.Diluted authority
• B.Distributed authority
• C.Delegated authority
• D.Devolved authority

'Partnerships are not-for-profit entities'. True or false?

• A.False
• B.True

Which of the following would not be part of the not-for-profit sector?

• A.A local independent supermarket
• B.A religious organisation, such as a church or a mosque
• C.Trade unions
• D.Professional bodies such as CIPS

A market situation where there is only one buyer in the marketplace is called:

• A.Oligopoly
• B.Monopoly
• C.Monopsony
• D.Perfect competition

A market situation where there is a small number of large suppliers is called:

• A.Oligopoly
• B.Monopoly
• C.Monopsony
• D.Perfect competition