QUIZ CIPS - L5M5 - HIGH HIT-RATE VALID MANAGING ETHICAL PROCUREMENT AND SUPPLY (L5M5) EXAM SIMULATOR

Quiz CIPS - L5M5 - High Hit-Rate Valid Managing Ethical Procurement and Supply (L5M5) Exam Simulator

Quiz CIPS - L5M5 - High Hit-Rate Valid Managing Ethical Procurement and Supply (L5M5) Exam Simulator

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You will need to pass the Managing Ethical Procurement and Supply (L5M5) (L5M5) exam to achieve the Managing Ethical Procurement and Supply (L5M5) (L5M5) certification. Due to extremely high competition, passing the CIPS L5M5 exam is not easy; however, possible. You can use ITPassLeader products to pass the L5M5 Exam on the first attempt. The Managing Ethical Procurement and Supply (L5M5) (L5M5) practice exam gives you confidence and helps you understand the criteria of the testing authority and pass the CIPS L5M5 exam on the first attempt.

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q90-Q95):

NEW QUESTION # 90
Which of the following are effective ways to promote equality in the supply chain? Select any TWO.
1. Fair payment policy
2. Having business integrity
3. Share documents and information on equality
4. Working with businesses that are run by men as they are more hard working

  • A. 3 and 4
  • B. 1 and 3
  • C. 1 and 2
  • D. 2 and 4

Answer: B

Explanation:
Choice 1- Having a fair payment policy indicates respect which is one of the ways of ensuring equality in supply chain.
Choice 3- Share documents and information on equality is a way of supporting the supply chain to achieve equality.
Incorrect answer:
Choice 2- While important, business integrity primarily relates to ethical practices and transparency, but does not specifically address equality in the supply chain.
Choice 4- This statement perpetuates gender bias and does not support equality. It is not a valid approach to achieving equality in the supply chain.
Therefore, the correct answer is Option C
Reference:
LO-1.1; Page 36; Role of EDI in securing ethical and sustainable procurement and supply arrangements


NEW QUESTION # 91
Ben & Jerry's products feature a Fair Trade mark, demonstrating their commitment to ethical sourcing. Which of the following strategies do they use to copyright labor standards within their supply chain?

  • A. Offering higher prices for all ingredients, regardless of quality
  • B. Implementing a policy that allows for flexibility in labor standards based on local laws
  • C. Auditing and reporting on labor practices to ensure compliance
  • D. Relying solely on self-reporting from suppliers about labor condition

Answer: C

Explanation:
Choice C- By conducting regular audits and reporting on labor practices, Ben & Jerry's ensures that its suppliers adhere to fair labor standards. This process helps identify and address any issues related to working conditions, wages, and worker rights, thereby promoting accountability and transparency within their supply chain.
Incorrect answer:
Choice A- While paying fair prices is important, simply offering higher prices does not guarantee that labor standards are met.
Choice B- This approach can be misleading because self-reporting may not accurately reflect actual conditions without external verification.
Choice D- This could be misleading as it may suggest that local laws can justify subpar labor practices, which contradicts the fair trade ethos.
Reference:
LO-1.3; Page 88-89; Labor standards and working practices


NEW QUESTION # 92
Global sourcing often increases carbon emissions due to the long distances goods must travel. Which of the following strategies can help reduce this environmental impact?

  • A. Sourcing from multiple distant suppliers to ensure competitive pricing
  • B. Increasing reliance on air freight for faster delivery
  • C. Focusing exclusively on sourcing from local markets regardless of cost
  • D. Consolidating shipments to reduce the number of trips made

Answer: D

Explanation:
Choice B- Consolidating shipments means combining multiple orders into fewer deliveries, which reduces the total number of trips required. This approach leads to lower carbon emissions per unit of goods transported and enhances efficiency in logistics. Thus is the correct answer.
Incorrect answer:
Choice A- Using air freight can actually increase carbon emissions significantly compared to other transportation methods like shipping or rail. While it may expedite delivery, it is one of the most environmentally harmful ways to transport goods over long distances.
Choice C- While this strategy may help in achieving lower costs, it can increase carbon emissions due to the greater number of shipments required. Sourcing from many distant suppliers often leads to less efficient logistics and higher environmental impact.
Choice D- Although sourcing locally can significantly reduce transportation-related emissions, focusing solely on local markets may not always be practical or cost-effective. It can limit access to certain products, materials, or pricing advantages that global sourcing might provide. A balanced approach considering both environmental impact and cost is often necessary.
Reference:
LO-1.2; Page 79; ESG considerations in global sourcing


NEW QUESTION # 93
Which of the following standard operating procedures do procurement professionals use to prevent fraud within a company?

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

Answer: D

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 # 94
How can integrating social considerations into sustainable procurement and supply create opportunities for accessing new markets? Select any TWO.

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

Answer: B,C

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 # 95
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