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Curious about Actual CIPS Level 3 Advanced Certificate in Procurement and Supply Operations (L3M1) Exam Questions?
Here are sample CIPS Procurement and Supply Environments (L3M1) Exam questions from real exam. You can get more CIPS Level 3 Advanced Certificate in Procurement and Supply Operations (L3M1) Exam premium practice questions at TestInsights.
Question 1
An arrangement between a buyer and a supplier in which they agree to apportion benefits (such a reduced costs, or increased outputs) arising from particularly sound contract performance may be called:
Correct : D
There is an expression 'painshare' which is an almost-ironic term referring to the opposite of the situ-ation described in the QUESTION NO : - when something has gone wrong, and the additional cost must be shared between the parties. The other two answers are a little bit facetious.
The correct answer is 'gainshare' when the parties share benefits, according to a pre-agreed ratio or formula.
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Question 2
Which of the following are normally not a source of funds for a third sector organisation?
Correct : A
Third sector organisations often rely on charitable contributions. An example might be Medecins Sans Frontieres.
They also sometimes receive grants from taxpayers, sometimes in return for work done eg the chari-ty Barnardo's receive government funding in return for advising the British government on man-agement of some children in its care.
Finally some NFPs have, for example, retail outlets which generate income to aid the organisation. Oxfam is such an example.
Third sector can be expected to ster clear of certain areas for ethical reasons. Alcohol, gambling, to-bacco, and weapons are examples.
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Question 3
Which of the following could be part of STEEPLED?
Select all that apply.
Correct : A, B
Social and technological are part of STEEPLED: they were also part of PEST, the forerunner to STEEPLED.
The other two words shown as possible answers are included because they sound a bit like 'econom-ic' and 'demographic', which would also be correct answers, had they been included here.
Read the QUESTION NO : carefully.
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Question 4
A 'firm price' and a 'fixed price' are the same thing.
True or false?
Correct : B
To the lay person, they may look the same.
However, for a procurement professional, a fixed price may be altered in some circumstances eg 'fixed price with incentive', 'fixed price with exchange rate adjustment', etc.
A firm price on the other hand cannot be altered, and is the price which will be paid under the con-tract.
An earlier text by Patrick Behan on government contracting refers.
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Question 5
Continuously gathering and analysing intelligence from sources such as professional, industry and trade journals, websites, conferences and exhibitions, published reports and online databases is called:
Correct : D
Continuously scanning the environment can bring rewards in the form of new supply companies, new products and services, awareness of supply firm or industry difficulties, etc.
Purchasing research is a very close answer to the correct one, but is likely to be more focussed, spe-cific.
If faced with a difficult choice as to which of two options in the exam is correct, think about what was included as part of your syllabus.
In this case, environmental scanning is the first entry in your Learning Outcome 3.1
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