Online Access Free L4M4 Practice Test

When sourcing an item of strategic importance and high value in the public sector, is it important to advertise this publicly?

• A.yes- the public sector should advertise the opportunity as a call for competition
• B.yes- the public sector should advertise through the Freedom of Information Act
• C.no- buyers in the public sector do not source strategic items
• D.no- buyers can approach known contractors

Which of the following items would you expect to find on a balance sheet? Select THREE

• A.stockholders' equity
• B.current liabilities
• C.current assets
• D.gross product sales
• E.net product sales

Compared with single sourcing, what is a key advantage to dual or multiple sourcing? Select TWO

• A.It is easy to drive down costs
• B.There is a risk of failure to supply
• C.Economies of scale
• D.Supplier Loyalty
• E.Low risk of failure to supply

A buyer of bakery and cereal products has tracked wheat prices. Severe weather has reduced wheat supply globally, but demand remains high. How can this research help the buyer?

• A.The buyer will find it difficult to negotiate a lower price for wheat-based ingredients
• B.Bakery produce is likely to be at a lower price as there is less wheat flour available
• C.The buyer will be in a strong bargaining position to reduce prices
• D.The price for wheat-based produce will not be affected as demand is still high

When evaluating a supplier's proposal in relation to ESC (Environmental, Social, Governance, and ethical elements), it is common to send questionnaires to suppliers requesting information, which can later be scored.
Which of the following questions would be assessing any of the ESC criteria?
Could you provide details on your manufacturing and raw material costs as part of an open-book pricing contract?
How do you promote equal opportunity for your employees, customers, and suppliers?
What is the annual turnover and profitability of your company?
Does your company have an anti-bribery policy?

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