Online Access Free L4M2 Practice Test

Which of the following can directly affect labour variance? Select TWO that apply:

• A.Wage rate per hour
• B.Inflation
• C.Company's budget
• D.Overhead expenditure
• E.Overtime

After a project, the procurement team at CLK Ltd meets up and summarises on the performance. They see that they actually spent $5,000 less than planned budget. The team tries to identifies why there is such difference. This activity is known as...?

• A.Cash flow analysis
• B.Rolling budget
• C.Variance analysis
• D.Cost modelling

Which of the following bodies provides standards for the products and services in the US?

• A.ISO
• B.AFNOR
• C.ANSI
• D.BSI

The procurement team of an IT hardware manufacturer has been set a target by senior management to reduce the rates paid to the sole supplier of a new and innovative power-saving battery. Which action should the procurement team first consider?

• A.Offering a framework agreement
• B.Dual or multiple sourcing
• C.Offering economies of scale
• D.Agreeing rebate thresholds

Which of the following is a social factor that a buyer should take into account when reviewing responses to a specification?

• A.The age of the machinery being used by the supplier
• B.The logistical infrastructure available to the supplier
• C.The emissions produced by the supplier's machinery
• D.The available labour in the supplier's geographic location