100% Success In CIPS L3M5 Exam Dumps

1. C E R T S GR A DE High Grade and Valuable Preparation Stuff High Grade and Valuable Preparation Stuff CIPS L3M5 Socially Responsible Procurement Questions And Answers PDF Format: For More Information – Visit link below: https://www.certsgrade.com/ Version = Version = Product Visit us athttps://www.certsgrade.com/pdf/l3m5/

2. Latest Version: 6.0 Question: 1 Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), which of the following are seen as threats (select all that apply): A. "New entrants (Correct)" B. "Substitutes (Correct)" C. "Buyers" D. "Suppliers" Answer: A,B Explanation: The model speaks of the threat of new entrants and the threat of substitutes. New entrants are particularly attracted by high profitability in the sector. Substitutes can come about in a number of ways for example, through lower prices or because of technology. Question: 2 Which one of the following is a document issued by a buyer to conduct an initial assessment of the suitability of a potential supplier for possible future use, either for a specific requirement or to add to a list of approved suppliers? A. "Request for quotation" B. "Supplier quotation" C. "Pre-qualification questionnaire (Correct)" D. "Invitation to tender" Answer: C Explanation: Pre-qualification questionnaire is the correct answer. A supplier quotation comes from the supplier side; both the RFQ and the ITT are intended to be more formally binding, including the price element, than what is described here. Question: 3 Which of the following could be described as an organisation? A. "A self-employed tutor of online education" Visit us athttps://www.certsgrade.com/pdf/l3m5/

3. B. "The University of Phoenix, Arizona (Correct)" C. "A business such as Ethiopian Airlines (Correct)" D. "A local authority / local government (Correct)" Answer: B,C,D Explanation: All except the self-employed tutor have a social arrangement with collective goals, and controls on performance. The self-employed tutor may have a goal, but it is not collective; is not part of a(n internal) social arrangement and controls on performance may be entirely in their own hands, or perhaps even absent altogether. Question: 4 Which of the following is likely to reduce 'capital growth'? Select all that apply. A. "Increased sales" B. "Payment of dividends (Correct)" C. "Payment of high salaries and large allowances to senior managers (Correct)" D. "Increased profit" Answer: B,C Explanation: Payment of high salaries and large allowances, may, fairly obviously reduce the amount of profit which can be retained for capital growth. If money is being distributed in this way, it isn't being retained. A profitable company has a choice: to pay dividends to a greater or lesser extent; or retain some of its profits to a greater or lesser extent in the form of retained capital - capital growth. Increased sales and increased profit may result in increased capital growth, all other things being equal, depending on the firm's dividend policy. Question: 5 On a diagram of the Product Life Cycle, the x-axis shows: A. "Profit" B. "Time (Correct)" C. "Growth" D. "Decline" Answer: B Visit us athttps://www.certsgrade.com/pdf/l3m5/

4. Explanation: The x-axis shows time. For some products, it may represent a year; for others, a century. The other answers given could all be shown on the y-axis of the PLC, depending on circumstances. Question: 6 ‘The costs of business activities which are not reflected in the costing of a product or service and paid for by consumers, but which are borne by the wider community – such as the costs of pollution and associated ill health, traffic congestion or environmental degradation’ are known as: A. "Externalities (Correct)" B. "Overheads" C. "Exclusions" D. "Taxation" Answer: A Explanation: We are now aware that the cost of externalities to society are considerable. A simple example would be that proximity to flow of motor vehicles is likely to increase ill-health requiring state-funded medical services where they exist, to treat at state (taxpayers') expense those who become ill. In the UK the number of people affected this way is believed to be numbered in the tens of thousands annually. Thus some businesses' cost structures do not reflect their true cost to society. Another example would be the discharge of untreated waste into rivers or the sea, where the companies undertaking these activities may not be contributing financially to the cleaning up required. In future years there is likely to be much debate about this, as some people will attempt to find ways to make companies pay the full cost of running their businesses. Question: 7 Which of the following might be objectives of private sector organisations? Select all that apply. A. "To maximise taxation" B. "Shareholder value (Correct)" C. "Market share (Correct)" D. "To minimise profit" Answer: B,C Explanation: To gain market share and to create shareholder value (increase the value of shares) are common aims of private sector organisations. The other two answers are the antithesis of what firms usually want. Visit us athttps://www.certsgrade.com/pdf/l3m5/

5. Question: 8 Thinking about supply and demand, there is one price at which producers wish to sell the same amount as customers wish to buy: in other words, the market ‘clears’, without either a surplus of supply or unsatisfied demand. This price is called the - - - - - - - - price. A. "Equilibrium (Correct)" B. "Equidistant" C. "Equivalium" D. "Clearing" Answer: A Explanation: Equilibrium price as demand and supply are perfectly balanced. Equivalium is a made-up word. When I was studying for my MCIPS back in the 1980's it was a requirement to undertake a research study. My research was into the monopolistic supply of valium and librium to the UK's National Health Service by a Swiss company called Hofmann la Roche. That research endeared me neither to branded drugs, nor, possibly unfairly, to multinationals. The likely choice of answers for people who don't know the correct answer is probably between 'equilibrium' and 'clearing'. Clearing would be a logical choice, but it's not the one your assessor requires. Question: 9 The primary objective of a private sector organisation is... A. "To boost national prestige" B. "To make profit (Correct)" C. "To provide services" D. "To create jobs" Answer: B Explanation: The primary objective of private sector is to create profit(s). While the other answers may occur in private sector, they are not the primary objective. Question: 10 Which of the following are widely-used measures of output of a country’s economy? Visit us athttps://www.certsgrade.com/pdf/l3m5/

6. A. GMP B. "GNP (Correct)" C. GDP D. GPC Answer: B,C Explanation: Gross National Product; Gross Domestic Product. Seen by some commentators as outdated measures, although it's difficult to know what they should / would be replaced by. Visit us athttps://www.certsgrade.com/pdf/l3m5/

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