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CIPS L5M5 Reliable Braindumps, Test L5M5 Duration

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q104-Q109):

NEW QUESTION # 104
Rashed's company is exploring the adoption of the EU's EMAS (Eco-Management and Audit Scheme). What are the key benefits of implementing EMAS?
1. It helps the organization improve its environmental performance and achieve sustainability goals.
2. It guarantees an immediate increase in sales and revenue.
3. It demonstrates compliance with environmental laws and regulations.
4. It offers no costs or resources required for implementation

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

Answer: D

Explanation:
Option 1- This is correct. EMAS encourages continuous improvement in environmental performance, which is central to the scheme's purpose.
Option 3- This is correct. One of the key benefits of EMAS is helping organizations demonstrate that they comply with environmental legislation, making it easier to meet legal requirements.
Incorrect answer:
Option 2- This is not correct. While EMAS can enhance reputation, it doesn't guarantee immediate sales or revenue growth.
Option 4- This is incorrect. There are costs involved in setting up and maintaining EMAS, such as for auditing and reporting.
Therefore, the answer is Choice B.
Reference:
LO-3.2; Page 279-280; The benefits and challenges of independent standards in securing ESG objectives in ethical and sustainable procurement and supply arrangements

NEW QUESTION # 105
Which of the following best defines a cartel, and which party in the supply chain is most impacted by it?

A. A collaboration between manufacturers to innovate; primarily affects suppliers
B. A coalition of businesses to increase competition; primarily affects shareholders
C. An informal agreement among suppliers to lower costs; primarily affects retailers
D. A formal agreement between competing firms to set prices and limit production; primarily affects consumers

Answer: D

Explanation:
Choice A- This accurately describes a cartel. Firms collude to manipulate the market, resulting in higher prices and limited availability of goods. Consumers are directly impacted as they pay more and have fewer choices. Thus Choice A is the correct answer.
Incorrect answer:
Choice B- This describes a scenario more akin to cooperative pricing or collusion among suppliers, but it doesn't capture the essence of a cartel. While it could affect retailers by changing supply costs, it misses the focus on competition and pricing control typical of cartels.
Choice C- This option suggests a positive collaborative effort aimed at innovation, which is not characteristic of cartels. Cartels are generally about restricting competition rather than fostering innovation. Suppliers might be indirectly affected, but it doesn't align with cartel behavior.
Choice D- This is the opposite of what a cartel does. Cartels reduce competition by collaborating to control prices and production. While shareholders may be affected by cartel activities, the primary impact is felt by consumers and the market as a whole.
Reference:
LO-1.1; Page 43; Issues impacting ethical and sustainable procurement and supply: modern slavery, bribery, corruption, fraud and human rights infringements

NEW QUESTION # 106
Which scenario best illustrates the inclusion of a community benefits clause in a procurement contract?

A. A supplier is required to adhere to strict environmental standards during project execution
B. A procurement contract mandates penalties for late delivery of goods
C. A construction company agrees to use locally sourced materials to reduce costs
D. A contractor commits to employing a percentage of workers from the local community and offering training programs for skill development

Answer: D

Explanation:
Choice B- A community benefits clause is included in procurement contracts to promote social and economic benefits for local communities. This often includes actions like creating job opportunities, providing training, or supporting local businesses, as described in option B.
Incorrect answer:
Choice A- Focuses on cost reduction rather than community benefits.
Choice C- Relates more to environmental considerations than community development.
Choice D- This option is about enforcement mechanisms, not generating community benefits.
Reference:
LO-2.2; Page 186-187; Monitoring Contract Performance

NEW QUESTION # 107
A company dedicated to sustainable procurement is evaluating its processes to integrate Fair Trade goods. At which stage of the procurement process can Fair Trade requirements be most strategically incorporated?

A. During tender specification development and supplier evaluation
B. When monitoring supplier compliance during the contract term
C. During pre-procurement planning and market research
D. After contract award, during supplier performance evaluation

Answer: A

Explanation:
Choice D- This is the most strategic stage for including Fair Trade requirements, as it ensures suppliers are aware of the criteria upfront and allows for evaluation based on their adherence to these standards.
Incorrect answer:
Choice A - While monitoring suppliers post-contract is important, it's reactive rather than strategic. The ability to enforce Fair Trade requirements is limited if they weren't specified from the start.
Choice B - This stage helps identify Fair Trade suppliers and assess feasibility but doesn't directly bind suppliers to comply with Fair Trade standards.
Choice C - Compliance monitoring is crucial for maintaining standards, but it's not the stage where requirements are introduced.
Reference:
LO-3.3; Page 311-312; Fairtrade standards that affect the workplace and producers and their implications for procurement and supply

NEW QUESTION # 108
A global aerospace manufacturer collaborates closely with a supplier to develop a highly specialized component requiring advanced technical expertise and customization. The supplier invests significant resources in co-designing and producing the component to meet the manufacturer's specific requirements. This partnership is built on strong relationships and mutual commitment.
Which type of relationship on the CIPS relationship spectrum best describes this scenario?

A. Partnership
B. Moderate
C. Transactional
D. Bespoke

Answer: D

Explanation:
Option D- Bespoke relationships are characterized by a tailored approach, close collaboration, shared risk, and trust to deliver unique and specific solutions. The scenario describes significant customization and co-development, which are hallmarks of a bespoke relationship.
Incorrect answer:
Option A- Transactional relationships are arms-length, low-commitment relationships where the focus is on individual purchases, cost, and efficiency rather than collaboration. The scenario involves high collaboration, customization, and long-term commitment, which are not characteristics of a transactional relationship.
Option B- Moderate relationships sit in the middle of the spectrum, involving more interaction and coordination than transactional relationships but less collaboration than strategic or bespoke relationships. The scenario exceeds moderate collaboration and requires significant resources, expertise, and trust, which align with bespoke relationships.
Option C- Partnership describes a collaborative working relationship but lacks specificity. It does not explicitly account for the high customization and tailored solutions detailed in this scenario. While "partnership" implies collaboration, the CIPS relationship spectrum uses "bespoke" to specifically describe high customization and co-design relationships.
Reference:
LO-2.1; Page 152-153; Mapping supply chains to achieve supply chain transparency

NEW QUESTION # 109
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