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CIPS L5M5 Vce Exam: Managing Ethical Procurement and Supply (L5M5) - CertkingdomPDF Most Reliable Website

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q87-Q92):

NEW QUESTION # 87
A company dedicated to sustainable procurement is evaluating its processes to integrate Fair Trade goods. At which stage of the procurement process can Fair Trade requirements be most strategically incorporated?

A. During tender specification development and supplier evaluation
B. After contract award, during supplier performance evaluation
C. During pre-procurement planning and market research
D. When monitoring supplier compliance during the contract term

Answer: A

Explanation:
Choice D- This is the most strategic stage for including Fair Trade requirements, as it ensures suppliers are aware of the criteria upfront and allows for evaluation based on their adherence to these standards.
Incorrect answer:
Choice A - While monitoring suppliers post-contract is important, it's reactive rather than strategic. The ability to enforce Fair Trade requirements is limited if they weren't specified from the start.
Choice B - This stage helps identify Fair Trade suppliers and assess feasibility but doesn't directly bind suppliers to comply with Fair Trade standards.
Choice C - Compliance monitoring is crucial for maintaining standards, but it's not the stage where requirements are introduced.
Reference:
LO-3.3; Page 311-312; Fairtrade standards that affect the workplace and producers and their implications for procurement and supply

NEW QUESTION # 88
During the transition phase at the end of a contract, what is typically the most challenging aspect to manage?

A. Developing an exit strategy
B. Knowledge transfer and intellectual property (IP) rights
C. Returning physical assets
D. Transferring documents

Answer: A

Explanation:
continuity, and addressing ownership, usage rights, and confidentiality. Mismanagement can have significant operational and legal implications.
Incorrect answer:
Choice B- Developing an exit strategy: This should already be planned during the contract drafting phase, making it less complex at the end stage.
Choice C- While it can involve logistical challenges, it is usually straightforward with clear inventory and tracking.
Choice D- Though it requires careful handling, it is generally a easier procedural task.
Reference:
LO-2.4; Page 240-241; Escalating non-compliance and making exit arrangements

NEW QUESTION # 89
A small-scale cocoa farmer in a developing country is a member of a Fair Trade cooperative, which benefits from a guaranteed minimum price for cocoa and a Fairtrade Premium. However, some members have expressed concerns about the system. Which of the following is a common criticism of the Fair Trade standard that might explain their dissatisfaction?

A. Farmers who are not part of the cooperative cannot access the benefits of Fair Trade
B. The administrative costs of certification and compliance reduce the net income for farmers
C. All of the above
D. The Fairtrade Premium is too small to make a meaningful impact on the community

Answer: C

Explanation:
Choice A- Critics argue that while the premium is helpful, it may not always be sufficient to address significant challenges like poverty or infrastructure gaps in the community.
Choice B- Fair Trade certification often requires membership in a cooperative, which excludes independent farmers or those unable to join due to geographic or financial barriers.
Choice C- Fair Trade certification comes with costs and stringent requirements, which can burden farmers and cooperatives, sometimes negating the financial benefits of participation.
Choice D- This is the correct answer because all the options accurately highlight potential limitations of the Fair Trade system.
Reference:
LO-3.3; Page 306; Fairtrade standards that affect the workplace and producers and their implications for procurement and supply

NEW QUESTION # 90
Which of the following form the 'Triple Bottom Line'? Select THREE

A. product
B. profit
C. planet
D. placement
E. people

Answer: B,C,E

Explanation:
People, Planet and Profit are the 'triple bottom line' - see p.3 of the study guide. This is also known as the 3Ps

NEW QUESTION # 91
Which of the following best defines the concept of total landed costs?

A. The sum of all logistics cost related to a product
B. The lowest logistics cost of a product
C. The difference between the product and logistics related cost
D. The sum of all product and logistics related cost

Answer: D

Explanation:
According to the study guide, the correct answer is Choice C. Total landed cost refers to the complete cost of delivering a product to its final destination. This includes the original product price, transportation costs, fees, customs and duty charges, currency exchange rates, and handling costs.
Reference:
LO-1.4; Page 107; Demand Management and the need for urgent orders

NEW QUESTION # 92
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