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L5M5 Certification Exam Infor & L5M5 Reliable Test Voucher

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q98-Q103):

NEW QUESTION # 98
Which labor standard or framework utilizes National Contact Points to promote compliance and resolve disputes related to responsible business conduct?

A. OECD Guidelines for Multinational Enterprises
B. ILO Multinational Enterprises Declaration
C. UN Global Compact
D. Ethical Trading Initiative (ETI)

Answer: A

Explanation:
Option C- OECD Guidelines for Multinational Enterprises (Correct): Uses National Contact Points (NCPs) as a mechanism to promote adherence to the guidelines, provide support, and facilitate dispute resolution in cases of non-compliance.
Incorrect answer:
Option A- UN Global Compact: Does not use National Contact Points; it is a voluntary initiative promoting corporate sustainability principles.
Option B- ILO Multinational Enterprises Declaration: Provides guidance on labor practices but does not include National Contact Points for implementation or dispute resolution.
Option D- Ethical Trading Initiative (ETI): Focuses on ethical supply chain practices and does not involve National Contact Points.
Reference:
LO-3.1; Page 269; Labor codes of conduct: Ethical Trading Initiative (ETI) and Social Accountability International's standard SA8000

NEW QUESTION # 99
During the transition phase at the end of a contract, what is typically the most challenging aspect to manage?

A. Knowledge transfer and intellectual property (IP) rights
B. Returning physical assets
C. Transferring documents
D. Developing an exit strategy

Answer: D

Explanation:
continuity, and addressing ownership, usage rights, and confidentiality. Mismanagement can have significant operational and legal implications.
Incorrect answer:
Choice B- Developing an exit strategy: This should already be planned during the contract drafting phase, making it less complex at the end stage.
Choice C- While it can involve logistical challenges, it is usually straightforward with clear inventory and tracking.
Choice D- Though it requires careful handling, it is generally a easier procedural task.
Reference:
LO-2.4; Page 240-241; Escalating non-compliance and making exit arrangements

NEW QUESTION # 100
Which of the following standard operating procedures do procurement professionals use to prevent fraud within a company?

A. Implementing a whistleblower hotline to report suspicious activities anonymously
B. Allowing a single employee to handle all procurement transactions without oversight
C. Using verbal agreements for procurement contracts to expedite the process
D. Bypassing formal bidding processes for convenience in purchasing decisions

Answer: A

Explanation:
Choice B- A whistleblower hotline allows employees to report suspected fraudulent activities or unethical behavior anonymously, fostering a culture of transparency and accountability. This tool can help organizations identify and address fraud early, reducing the risk of financial loss.
Incorrect answer:
Choice A- Allowing one person to manage all procurement transactions without oversight significantly increases the risk of fraud. Implementing checks and balances, such as requiring multiple approvals or reviews, is essential for accountability and transparency in procurement processes.
Choice C- Relying on verbal agreements increases the risk of misunderstandings and fraud, as there is no formal documentation to refer to. Written contracts are essential for establishing clear terms and protecting both parties, which helps mitigate fraud risks.
Choice D- This option is incorrect. Bypassing formal bidding processes undermines transparency and competitiveness, increasing the risk of fraud and corruption. Adhering to formal procurement processes ensures fairness, accountability, and proper documentation, reducing the likelihood of fraudulent activities.
Reference:
LO-1.1; Page 22-23; The role of governance considerations in securing ethical and sustainable procurement and supply arrangements

NEW QUESTION # 101
Which of the following is NOT a reason for supply chain mapping?

A. Gathering quality data through audits
B. Understanding and gaining insights into suppliers
C. Eliminating the need for supplier relationship management
D. Identifying potential risks and vulnerabilities

Answer: C

Explanation:
Supply chain mapping aims to identify risks, improve visibility, and ensure compliance, among other benefits. However, it does not eliminate the need for managing supplier relationships; in fact, it often enhances the ability to manage those relationships effectively.
Reference:
LO-2.1; Page 155; Mapping supply chains to achieve supply chain transparency

NEW QUESTION # 102
How can integrating social considerations into sustainable procurement and supply create opportunities for accessing new markets? Select any TWO.

A. By ignoring cultural differences and standardizing products for all markets
B. By ensuring compliance with international labor standards, making products more appealing to ethical consumers
C. By focusing exclusively on reducing costs, which attracts price-sensitive customers
D. By solely prioritizing the fastest delivery times, regardless of sourcing practices
E. By partnering with local suppliers and underrepresented communities, thereby opening up regional markets

Answer: B,E

Explanation:
Choice A- This option is correct. Compliance with international labor standards signals a commitment to ethical practices, which can attract consumers who prioritize sustainability and social responsibility. This appeal can open new markets, particularly among consumers who are willing to pay a premium for ethically sourced products.
Choice B- This option is incorrect. While reducing costs can attract some customers, it often overlooks social considerations and may lead to unethical sourcing practices. Focusing solely on cost does not contribute to sustainable procurement and can limit access to markets that value ethical practices.
Choice C- This option is correct. Partnering with local suppliers and underrepresented groups fosters community engagement and strengthens local economies. Moreover catering for new range of customers who may not have been previously catered for. This approach can help organizations tap into regional markets, build trust with local consumers, and enhance brand loyalty through a commitment to social responsibility.
Incorrect answer:
Choice D- This option is incorrect. Ignoring cultural differences can alienate potential customers and limit market access. Sustainable procurement should consider local customs and preferences to effectively cater to diverse markets. Adapting products to fit local contexts can enhance acceptance and success in new markets.
Choice E- This option is incorrect because prioritizing only speed in delivery can compromise ethical sourcing and sustainability practices. While timely delivery is important for customer satisfaction, focusing exclusively on it can lead to neglecting social and environmental responsibilities. Fast delivery may involve sourcing from suppliers that cut corners on labor standards or environmental protections, ultimately undermining the principles of sustainable procurement. To effectively access new markets, organizations must balance delivery efficiency with ethical sourcing practices, ensuring that both speed and sustainability are prioritized.
Reference:
LO-1.1; Page 20-21; The role of social value considerations in securing ethical and sustainable procurement and supply arrangements

NEW QUESTION # 103
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