Pass the CIPS CIPS Level 3 Advanced Certificate in Procurement and Supply Operations L3M3 Questions and answers with CertsForce

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Viewing questions 11-20 out of questions
Questions # 11:

A situation where suggestions made, often by a bidder, unnecessarily widen the scope of the requirement.

Options:

A.

Standardisation


B.

Specification creep


C.

Procurement conditioning


D.

Alternative bid


Expert Solution
Questions # 12:

Johnson, Scholes and Whittington suggested three key criteria for options which can be used in the evaluation of a business case. Which word was not one of these three key criteria?

Options:

A.

Transferability


B.

Feasibility


C.

Acceptability


D.

Suitability


Expert Solution
Questions # 13:

Which one of the following is least likely to be a barrier to free trade?

Options:

A.

Exchange controls


B.

Subsidies for exporters and internal producers of products


C.

Trading blocs


D.

Embargoes


Expert Solution
Questions # 14:

According to Lysons and Farrington, two authors recommended by CIPS, which of the following are cost-based pricing models, as opposed to market-driven pricing models? Choose two.

Options:

A.

Penetration pricing


B.

Promotional pricing


C.

Marginal pricing


D.

Rate of return pricing


Expert Solution
Questions # 15:

In which year did the United Nations issue the Universal Declaration of Human Rights?

Options:

A.

2001


B.

1941


C.

1948


D.

1919


Expert Solution
Questions # 16:

Which STEEPLE factor deals with issues of foreign exchange rates, inflation, consumer spending, labour costs and unemployment levels?

Options:

A.

Economic


B.

Political


C.

Socio-cultural


D.

Environmental


Expert Solution
Questions # 17:

Transfer of the rights and obligations of a contract onto a third party, is called:

Options:

A.

Assignment


B.

Association


C.

Acceptance


D.

Assignation


Expert Solution
Questions # 18:

The variable cost of a bottle of water is 25 cents. Selling price is $1, and fixed costs are one hundred thousand dollars. How many bottles of water must be sold to reach breakeven point?

Options:

A.

4 million


B.

133,333


C.

400,000


D.

13,333


Expert Solution
Questions # 19:

A sum of money credited to a buyer by a seller in recognition of a large volume of purchases bought throughout the previous year might be called a:

Options:

A.

Retrospective rebate


B.

Vendor debit


C.

Historic refund


D.

Retrospective reward


Expert Solution
Questions # 20:

Contracts published by third party experts such as trade associations or professional bodies, widely regarded as favouring neither buyer nor seller, are called:

Options:

A.

Uni form


B.

Model form


C.

Paper form


D.

Trans form


E.

Good form


Expert Solution
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