Online Access Free L5M5 Practice Test

Which organisation is an intergovernmental economic body with the purpose of stimulating economic progress and world trade?

• A.UN
• B.OECD
• C.ILO
• D.WTO

Which of the following statements is TRUE about the adjudication form of dispute resolution? Select TWO

• A.It is an informal process
• B.The decision cannot be legally binding
• C.It is quicker than going through the courts
• D.A decision must be made within 28 days

A point in a supply chain where problems may arise and affect business costs is referred to as what?

• A.Cost point
• B.Price point
• C.Touch point
• D.Liability point

Which of the following could be considered a bribe? Select TWO

• A.A company pays an invoice two days early
• B.A buyer sends a gift basket to a supplier at Christmas
• C.A supplier bidding on a tender invites the buyer to play golf
• D.An agricultural organisation donates to a politician to vote in a certain way

Supply forecasting investigates the company's demand for an item, including current and projected demand categorised by industry and product end use. Is this statement TRUE?

• A.Yes - it gathers information about supply and demand
• B.No - supply forecasting collects data about current suppliers and trends that might affect supply
• C.Yes - it is used by all companies within the supply chain
• D.No - supply forecasting provides a prediction of short and long-term prices and trends