The idea / practice that some users / internal customers will spend organisational funds without in- volving procurement professionals when required to do so by organisational rules, is called:
Answer(s): D
One of the best ways to combat maverick buying is for procurement to be seen to be doing a good job, reducing the justification in colleagues' minds for going outside the system. The other terms shown in the answers are simply made up to create the question. This is your final question in this practice exam - good luck in the real exam!
The y-axis of the Product Life Cycle could properly show the following (select all that apply):
Answer(s): A,B,C
The vertical axis (the y-axis) of the product life cycle diagram could correctly show all three, and might commonly show losses and / or investment in the early stage(s).
The Paris Agreement is about:
Answer(s): B
In 2015 an agreement was reached in Paris, France among most world nations to try to limit climate change and its effects.The other answers shown are simply fictions.
Under a contract with a price adjustment clause, which of the following would commonly be grounds for price adjustment (depending on the precise contract terms)?
Answer(s): B,C
Exchange rate fluctuations and escalating materials costs can both substantially impact on a contract price. Where a contract has been drafted to allow for it, the price may be adjusted in line with some pre-agreed mechanism or formula to make the price paid more equitable. Quality problems of the supplier's own making and shareholders seeking extra profit - neither being uncommon - are not seen as being grounds for adjusting price (upwards). I should mention that price adjustment clauses can result in prices being adjusted either upwards or downwards, or not at all, depending on circumstances.
An organisation is...
Answer(s): A
Social arrangement because it involves people; they have a collective goal eg to be a profitable or- ganisation; and their performance must be controlled to work towards or to achieve that goal / those goals.
Post your Comments and Discuss CIPS L3M1 exam prep with other Community members:
Our website is free, but we have to fight against AI bots and content theft. We're sorry for the inconvenience caused by these security measures. You can access the rest of the L3M1 content, but please register or login to continue.