Online Access Free L4M2 Practice Test
| Exam Code: | L4M2 |
| Exam Name: | Defining Business Needs |
| Certification Provider: | CIPS |
| Free Question Number: | 306 |
| Posted: | May 30, 2026 |
Which of the following are primary sources of market data for costs and prices? Select TWO that apply.
A large sports organisation requires some additional racing equipment to be built. It should match exactly the pre-determined technical specifications and requires exact compatibility. Which of the following specifications would be most appropriate?
A company has installed a new piece of capital equipment but needs to arrange a maintenance contract for three years. The company wants to know as accurately as possible what this price will be for the full contract.
What would be an appropriate type of pricing mechanism to use when asking suppliers to quote prices?
To improve the productivity, Plantation Ltd is planning to purchase a tractor, which it has never bought before. The project must be quick to catch up with the next growing season. Leanne, a jun-ior procurement staff at the company, assumes that she could skip market analysis stage to save time. Is this assumption reasonable?