Free CIPS L4M2 Exam Dumps Questions & Answers

The main benefit of using standards in a specification is ...

• A.that British standards are aligned with all other international standards
• B.that standards allow the supplier to give the buyer a bespoke product
• C.it will ensure the latest technology standards are kept up to date
• D.that standards provide a clear guide with no ambiguity or uncertainty

Which of the following might be the consequences of under-specification? Select TWO that apply:

• A.Poor competition between suppliers
• B.Additional cost to rework
• C.Unfit products or services
• D.Higher cost due to inessential features
• E.Few suppliers can supply the full range of features

Which of the following are 'secondary sources' of data for costs and prices?
Industry press
Published economic indices
Trade fairs
Buyer's database on market data

• A.1 and 4 only
• B.2 and 3 only
• C.1 and 2 only
• D.3 and 4 only

As the lead procurement manager you have been asked to compile a business case for a large project. Which of the following should you include in the business case?
* Costs and risks
* List of large suppliers
* Business benefits
* Informal recommendation

• A.1 and 3 only
• B.1 and 4 only
• C.2 and 3 only
• D.2 and 4 only

The finance department of a large organisation is collating budget information received from its various departments, including sales, marketing, and production. These budgets include forecast information on costs and revenues. The finance department will be using the information to establish which of the following?

• A.The level of market competition
• B.The expected profit levels
• C.The predicted changes in the economy
• D.The volume of returns