CIPS Managing Ethical Procurement and Supply (L5M5) - L5M5 Exam Practice Test
What is the purpose of an IPO (International Procurement Organisation)?
Correct Answer: B
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
Which of the following could be considered a bribe? Select TWO
Correct Answer: A,B
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
Which of the following are principles of the Wine and Agricultural Ethical Trade Association (WIETA)? Select THREE
Correct Answer: A,B,D
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
Scenario:
Apor is an online retailer of clothing and shoes. It sells four different fashion product lines:
Product 1: Apor has achieved competitive advantage on this product line by producing clothing cheaply. This has been achieved through investment in advanced manufacturing technology, which allows items to be made more cheaply than competitors.
Product 2: Apor is marketing to a younger customer segment for this product and has developed unique features that appeal to teenagers in particular.
Product 3: This product is a specialist type of shoe only purchased by professional dancers. Apor's strategy is to appeal to this small and specific customer segment, and it achieves advantage through low cost of manufacture. However, demand has been affected recently due to import duty and tax changes.
Product 4: The marketing slogan for this product is "Greener Clothing for the Planet". Although slightly more expensive than other ranges, Apor achieves advantage through the product's eco-friendly features, appealing to a smaller, specific segment.
Task:
For each product, match the correct Macro Environment Driver and the correct Source of Competitive Advantage.
Apor is an online retailer of clothing and shoes. It sells four different fashion product lines:
Product 1: Apor has achieved competitive advantage on this product line by producing clothing cheaply. This has been achieved through investment in advanced manufacturing technology, which allows items to be made more cheaply than competitors.
Product 2: Apor is marketing to a younger customer segment for this product and has developed unique features that appeal to teenagers in particular.
Product 3: This product is a specialist type of shoe only purchased by professional dancers. Apor's strategy is to appeal to this small and specific customer segment, and it achieves advantage through low cost of manufacture. However, demand has been affected recently due to import duty and tax changes.
Product 4: The marketing slogan for this product is "Greener Clothing for the Planet". Although slightly more expensive than other ranges, Apor achieves advantage through the product's eco-friendly features, appealing to a smaller, specific segment.
Task:
For each product, match the correct Macro Environment Driver and the correct Source of Competitive Advantage.
Correct Answer:
The unethical practice of using information that is not publicly available to trade on the stock market is commonly known as what?
Correct Answer: D
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
Freedom Incorporated, a UK company, buys vehicles from South Kore
a. Which of the following are included in Total Landing Costs? Select THREE
a. Which of the following are included in Total Landing Costs? Select THREE
Correct Answer: A,B,D
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
Which of the following is the correct order of the Deming Cycle?
Correct Answer: A
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
An international trade dispute would be resolved by which organisation?
Correct Answer: D
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
Under the Equalities Act 2010, which of the following is not a protected characteristic?
Correct Answer: D
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).
According to the International Institute for Sustainable Development, which of the following are part of the 6 key components of a CSR Plan? Select THREE
Correct Answer: C,D,E
Vote an answer
Explanation: Only visible for Fast2test members. You can sign-up / login (it's free).