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質問 # 27
If a commodity index shows that the price of a commodity is continually rising, what does this indicate about the market?
- A. demand is exceeding supply
- B. that there is little demand in the marketplace
- C. the marketplace is a monopoly
- D. there is a threat of substitution
正解：A
解説：
The correct answer is 'demand is exceeding supply'- If everyone wants to buy something, the sup-pliers will likely increase the price.
If there was little demand or there were threats of substitutions, this would likely result in a price decrease.
質問 # 28
Weighted points systems can be applied to evaluate and compare potential suppliers. For which of the following factors would it be appropriate to use this method?
* Financial stability
* Supplier reliability
* Market demand
* Negotiation styles
- A. 3 and 4 only
- B. 1 and 2 only
- C. 1 and 4 only
- D. 2 and 3 only
正解：B
解説：
Financial stability and supplier reliability are quantifiable factors suited to weighted points systems, allowing procurement professionals to objectively assess and compare suppliers. This method aligns with ethical sourcing practices by promoting fairness and transparency in supplier selection.
質問 # 29
Which of the following payment mechanisms is most beneficial to the supplier?
- A. letter of credit
- B. open account
- C. sight draft
- D. cash in advance
正解：D
解説：
cash in advance is the most beneficial to a supplier.
Open account /credit account is the most beneficial to the buyer. Learn this as it's a known exam topic.
質問 # 30
What type of ratio is used to measure a company's ability to meet its short-term financial obligations, specifically focusing on its ability to convert assets into cash to cover current liabilities?
- A. Liquidity ratio
- B. Dividend per share
- C. Earnings per share
- D. Profitability ratio
正解：A
解説：
Liquidity ratios, such as the current and quick ratios, evaluate a company's ability to meet short-term liabilities with current assets. This metric is crucial for assessing a supplier's financial stability, ensuring continuity and reliability in the supply chain, which aligns with ethical and responsible sourcing principles.
質問 # 31
Yolo Inc. have recently run a tender opportunity to find a suitable supplier of yoyos and they have received a number of bids. The supplier will become a strategic partner to the business as yoyos are vital to the success to Yolo Inc. The tender asked for both price submissions and had a number of quality questions. Eamon is the Procurement Manager of Yolo Inc and is responsible for selectingthe most appropriate supplier. How should Eamon appraise the bids?
- A. organise a cross-functional team to assess the bids as people from other departments may have important information and experience of yoyos
- B. evaluate the bids himself as this is a complex requirement
- C. organise a cross-functional team of procurement personnel as they will have experience in assessing price and quality of bids
- D. evaluate the bids himself as this is a strategic purchase
正解：A
解説：
Eamon should use a cross-functional team (this rules out two of the options). The purpose of using a cross-functional team is to use the knowledge of people from other departments as they may better understand the service required and help assess any technical questions. Therefore a cross-functional team of procurement personnel, isn't cross-functional (they're all the same function). Yoyos is a bit of a silly example, the exam questions are a little more serious- but the learning outcome is the same; use a cross-functional team to evaluate bids.
質問 # 32
Which of the following is an example of intracompany trading? Select TWO
- A. two companies join together to create a new product
- B. two companies owned by the same entity conduct business
- C. a manufacturer in the UK buys raw copper from a supplier in Chile
- D. cleverness
- E. two departments within the same company collaborate on a project
正解：B、E
解説：
Intracompany trading is when two departments in the same company do trading. AND when two companies owned by the same parent company do trading.
INTRA means 'within' - so it's doing business with yourself.
質問 # 33
Which of the following is not a Human Rights as protected by the UN Declaration on Human Rights?
- A. freedom of Belief and to change beliefs
- B. the right to free speech
- C. the right to change nationality
- D. the right to be treated equally
正解：C
解説：
the right to change nationality is not included in the UN Declaration of Human Rights. There are 30 in total but you're not expected to know them all. You should know the big ones though which are; life, security, belief, equal treatment, free speech and expression. A summary can be found here: Universal Declaration of Human Rights | United Nations
質問 # 34
Steff is a procurement manager at Giant Buttons Ltd who are considering offshoring a small section of their manufacturing operations. Which of the following is a risk of offshoring that Steff should consider.
- A. importation rules and tariffs
- B. lower operating costs
- C. payments by electronic bank transfer
- D. exportation rules and tariffs
正解：A
解説：
The correct answer is importation rules and tariffs. This is because in offshoring some of the manufacturing will be done in another country then shipped back to the UK. The products will have to go through customs so may be subject to tariffs and duties.
Steff's not exporting anything in the scenario and paying electronically and getting lower costs are not RISKS.
質問 # 35
Ivan is an investor who is looking to invest in new businesses. He is reviewing several companies and working out what his equity would be. Which of the following does Ivan need to know tocalculate shareholder equity? Select TWO.
- A. total liabilities
- B. net income
- C. total assets
- D. net profit
正解：A、C
解説：
Shareholder Equity = Total Assets - Total Liabilities
質問 # 36
Which award criteria can be applied when sourcing requirements from external suppliers?
- A. Delivery promises of goods
- B. Understanding of supplier operations
- C. Plans and manpower numbers
- D. Price and total life-cycle costs
正解：D
解説：
Evaluating total life-cycle costs, including initial purchase price and long-term maintenance, aligns with ethical sourcing by promoting cost-effective and sustainable procurement. It ensures value for money and supports environmentally and financially responsible sourcing practices.
質問 # 37
Amnesty International, Oxfam and CIPS are examples of what type of organisation?
- A. limited liability
- B. not-for-profit
- C. public limited companies
- D. partnerships
正解：B
解説：
These are 'not-for-profit' organisations. You don't need to know much on not-for-profit procurement for this exam. Just that procurement can be regulated in this sector by bodies such as Charities Commission.
質問 # 38
What are the two main financial accounting statements of an organisation that show the values of assets and liabilities, and the profit earned in the period?
- A. Cash flow statement (statement of cash flow) and profit and loss statement (statement of financial performance)
- B. Profit and loss account (statement of financial performance) and chairman's statement (in the annual report)
- C. Cash flow statement (statement of cash flow) and balance sheet (statement of financial position)
- D. Balance sheet (statement of financial position) and profit and loss account (statement of financial performance)
正解：D
解説：
The balance sheet and profit and loss account provide a comprehensive view of an organisation's financial health, showing assets, liabilities, and profits. These statements are essential in evaluating a supplier's financial capacity, aligning with responsible sourcing practices for financial stability.
質問 # 39
The Freedom of Information Act is a piece of UK legislation which allows members of the public to request information on issues such as public sector sourcing. When a request is made, it is compulsory for the public sector to provide this information to the public. Is this statement true?
- A. no- the public sector does not need to provide information on sourcing activities
- B. yes- the information must be posted publically online
- C. no- the public sector can choose not to publish information if it is not deamed to be in the public interest
- D. yes- the information must be provided within 28 days
正解：C
解説：
the correct answer is 'no- the public sector can choose not to publish information if it is not deemed to be in the public interest'.
They use something called the 'public interest test' to determine if the information should be re-leased or not.
For example they may not respond to a request asking how many bullets the UK Army has in storage, as that would be detrimental to national security interests.
Responses to requests are made within 21 days, not 28.
質問 # 40
Which of the following should be assessed in supplier proposals to check compliance with environmental, social, and governance (ESG) standards? Select THREE that apply.
- A. Procedures on intra-company trading
- B. The company's policy on carbon emissions
- C. The company's employee working conditions
- D. The company's criteria for make or buy decisions
- E. The company's code of ethics
- F. The financial stability of the company
正解：B、C、E
解説：
Employee working conditions, a code of ethics, and a carbon emissions policy are all indicative of a supplier's commitment to ESG standards. Assessing these factors aligns with responsible sourcing practices, which prioritize sustainability and ethical considerations.
質問 # 41
The procurement team at Grape Juice Limited often use a weighted point system when ap-praising potential suppliers. What is a disadvantage of using a weighted point system?
- A. it is time-consuming to create
- B. it allows transparency
- C. it is hard to be objective
- D. it is easy to manipulate
正解：B
解説：
Weighted points systems can be time consuming to create. They're very transparent and allow for objective grading of supplier bids (so these answers are incorrect). They are not easy to manipulate and this is an advantage of using them.
質問 # 42
What is the best way to prevent potential issues of conflicts of interest?
- A. create a risk register
- B. do not hire family members
- C. openly declare potential conflicts
- D. do not work with suppliers who have relationships with the procurement team
正解：C
解説：
The best way to deal with potential Conflicts of Interest is to openly declare these. Just because you have a relationship with someone doesn't mean this is going to be an issue or lead to fraud, but it is a good idea to keep a written record of these.
It wouldn't be a risk register, because how can you rate someone's risk of doing something dodgy? Risk registers are for objective risks such as Health and Safety.
質問 # 43
Which of the following financial documents would show whether a supplier has sufficient funds to pay their subcontractors in the short term?
- A. profit and loss account
- B. ESG policy
- C. balance sheet
- D. cash flow statement
正解：D
解説：
A cash flow statement shows the money coming in and out. This would therefore show whether a supplier has enough money coming in, to be able to pay some of it out to a subcontractor.
P&L and Balance Sheets look more broadly at finances, rather than saying what's physically in the bank at a specific given time.
Do learn the difference between these three financial documents for the exam.
Balance Sheet: Explanation, Components, and Examples (investopedia.com) Profit and Loss Statement Meaning, Importance, Types, and Examples (investopedia.com) Cash Flow Statement: How to Read and Understand It (investopedia.com)
質問 # 44
Luke has sent out a Request for Information to test the waters of the supply market for a new product he is sourcing. He has received a high number of detailed documents back from suppliers. Which of the following is Luke now likely to know about the marketplace? Select THREE
- A. samples of the product
- B. acceptable lead times
- C. exact costs of the item he's procuring
- D. expected changes in the marketplace
- E. amount of product competition
正解：B、D、E
解説：
The correct answers are; lead times, product competition and changes in the marketplace.
You wouldn't expect to receive samples or costings from a Request for Information - rather, these should be expected as part of the Tender Competition
質問 # 45
Which of the following Incoterms has the lowest risk for the supplier?
- A. delivered at terminal
- B. free on board
- C. delivered duty paid
- D. ex works
正解：D
解説：
Ex-Works has the lowest risk to the supplier- in Exworks the buyer collects the items directly from the supplier - so they have all the issues and risks of transporting it back home.
There are many question on Incoterms CIPS can ask. But as there's such a huge bank of questions it's really hit or miss if you'll get one of those question. Two students sitting the exam at the same time in the same study centre can get different question sets. One person can get 3 Incoterm questions and the other gets 0.
I would learn the major ones- the ones at the ends of the table in particular because these are the ones question are likely to be about. Ex works / Free carrier and Delivered at Place Unloaded/ De-livered Duty Paid in particular.
I like this graph as I'm a visual person. I think it makes it easier to understand than the study guide:
Shipping Incoterms: the Complete Guide - Guided Imports
質問 # 46
When assessing the financial performance of a potential supplier, it is important to understand how much gross profit they are making. The gross profit margin ratio uses which of the following pieces of information from the profit and loss (statement of financial performance)? Select TWO that apply.
- A. Cost of goods sold
- B. Total current assets
- C. Current liabilities
- D. Value of equity capital
- E. Income from sales
正解：A、E
解説：
The gross profit margin ratio is calculated by subtracting the cost of goods sold (COGS) from income from sales, then dividing by income from sales. This ratio indicates the profitability of a supplier, a critical factor in assessing financial health, which helps buyers ensure reliable supply continuity.
質問 # 47
Which of the following is an advantage to the TUPE regulations?
- A. Reduced overheads for the buying organisation
- B. Continuity of supply for the buying organisation
- C. Increase in buyer power
- D. Value for money for the buying organisation
正解：B
解説：
Continuity of supply for the buying organisation is an advantage of TUPE regulations.
TUPE is the Transfer of Undertakings (Protection of Employment). It's when the workforce / em-ployees of one company go to work for another one, usually after their company is bought out. They're transferred to the new company along with the furniture and buildings.
TUPE is UK specific. You don't need to know too much details about it for this exam - just what it is and the benefits. The main benefit is people don't lose their jobs when their company gets bought out. Basic guide to TUPE (pinsentmasons.com)
質問 # 48
What is a major benefit to using Incoterms when sourcing goods internationally?
- A. it replaces the need for insurance
- B. it replaces lengthy contractual clauses
- C. it ensures ethical business practices
- D. it ensures value for money
正解：B
解説：
Incoterms can replace lengthy contract clauses as they replace the need for contracts to detail which party is responsible for organising transport, paying duties, having the insurance etc.
Incoterms is an odd one for exam topics- some students say it was a huge part of their exam and there were many questions on this. Others said there were just one or two. Questions get randomly assigned from the bank so it's completely random how many you'll get on this topic.
質問 # 49
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