LATEST L5M5 PRACTICE QUESTIONS | RELIABLE EXAM L5M5 PASS4SURE

Latest L5M5 Practice Questions | Reliable Exam L5M5 Pass4sure

Latest L5M5 Practice Questions | Reliable Exam L5M5 Pass4sure

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Tags: Latest L5M5 Practice Questions, Reliable Exam L5M5 Pass4sure, L5M5 Certification, Exam Dumps L5M5 Collection, Latest L5M5 Exam Notes

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q100-Q105):

NEW QUESTION # 100
Which of the following is NOT one of the four fundamental principles and rights at work recognized by the International Labor Organization (ILO)?

  • A. Freedom of association and the right to collective bargaining
  • B. Equal pay for equal work
  • C. Elimination of forced or compulsory labor
  • D. Abolition of child labor

Answer: B

Explanation:
Choice C - Equal pay for equal work is important but is not one of the four fundamental principles of ILO. Thus is the correct answer.
All the other options are core categories of ILO.
Reference:
LO-3.1; Page 249; Standards set by the United Nations (UN) and the International Labor Organization (ILO)


NEW QUESTION # 101
EcoTech Solutions, a small business based in Canada, is exploring the possibility of developing its own environmental management system rather than adopting a widely recognized standard. What are two potential advantages of this approach? Select any TWO

  • A. It may be simpler for customers to understand
  • B. It could result in lower implementation costs
  • C. It ensures compliance with local regulations and requirements
  • D. This is a form of greenwashing

Answer: B,C

Explanation:
Choice B- An organisation specific system can be specifically designed to address local environmental regulations, ensuring the business remains compliant with the laws in its area.
Choice D- This is a advantage, as creating a custom environmental management system could have fewer expenses compared to adopting a global certification, such as ISO.
Incorrect answer:
Choice A- While a custom system could be tailored to local needs, it does not guarantee that customers will find it easier to understand than an internationally recognized standard.
Choice C- This is not necessarily true. Developing a custom system is not inherently greenwashing unless the system is used to falsely claim environmental achievements or mislead consumers.
Reference:
LO-3.2; Page 288-289; Role of industry standards and frameworks used by organizations in securing ESG considerations and ethical standards


NEW QUESTION # 102
XYZ Corporation has been acquired by a global company that plans to centralize all sourcing activities and standardize processes. Which factor could help XYZ Corporation gain a competitive advantage through this centralization?

  • A. Improved benchmarking shared data to provide ability to agree prices with global competitors
  • B. Increased due diligence activity resulting in lower governance of suppliers
  • C. Efficiency gains that lead to increased productivity and lower prices
  • D. Ability to use more favorable legislation in different countries and avoid local legal obligations

Answer: A

Explanation:
Choice B- Improved benchmarking and shared data can help a company agree on prices with global competitors and gain a competitive advantage. Option B is the correct answer.
Incorrect answer:
Choice A- Legal obligations have to be maintained from wherever the company is operating. Avoiding or adhering to legislations is not a competitive advantage.
Choice C- Competitive advantage can best be described as what sets an organization apart. Increased efficiency is the result of competitive advantage but not a competitive advantage itself.
Choice D- Increased due diligence activity resulting in lower governance of suppliers is not a competitive advantage for XYZ Corporation.
Reference:
LO-1.2; Page 63-65; Competitive advantage through global sourcing


NEW QUESTION # 103
A company frequently ships high-value goods internationally, and the logistics team identifies a significant risk of financial loss due to potential cargo theft or damage during transit. To mitigate this risk, the company hires an external freight forwarder who provides insurance coverage and assumes full responsibility for the goods while in transit.
What is the most appropriate risk management strategy in this scenario?

  • A. Transfer
  • B. Treat
  • C. Tolerate
  • D. Terminate

Answer: A

Explanation:
Option B- By hiring the external freight forwarder with insurance coverage, the company shifts the responsibility and potential financial loss to a third party. Thus, the correct answer is B.
Incorrect answer:
Option A- "Treat" involves taking action to mitigate the risk internally. For example, the company could implement its own security measures, such as using GPS tracking, enhanced packaging, or employing in-house logistics staff. In this scenario, the company is not mitigating the risk itself but instead transferring the responsibility to the freight forwarder.
Option C- The risk of theft or damage is significant in this scenario, and ignoring it would likely result in substantial financial losses. Hence, tolerating the risk is not a viable strategy.
Option D- Terminating the activity is not practical for the business, as shipping goods internationally is likely critical to operations. Instead, transferring the risk to the freight forwarder is a more reasonable approach.
Reference:
LO-2.1; Page 166; Use of risk mitigation strategies to achieve ESG objectives to secure ethical and sustainable procurement and supply arrangements


NEW QUESTION # 104
In what circumstances is Expert Determination the most suitable method for resolving contract disputes?

  • A. high value contracts
  • B. technical disputes
  • C. personality disputes
  • D. international contracts

Answer: B

Explanation:
Choice C- This is the correct answer. Expert Determination is particularly suited for disputes that require specialized technical knowledge, such as issues related to engineering, construction, or IT systems. An independent expert with relevant expertise can assess and resolve the dispute effectively.
Incorrect answer:
Choice A-Expert Determination is not specifically suited to international contracts. While it could be used in such cases, it is more about the nature of the dispute (technical issues) rather than the geographic scope of the contract.
Choice B- The value of the contract does not determine the suitability of Expert Determination. Other methods like arbitration or litigation are often more common for resolving high-value disputes.
Choice D- Expert Determination is not designed to handle personality conflicts or disputes rooted in interpersonal disagreements. Mediation or other relationship-focused methods are more appropriate in such cases.
Reference:
LO-2.4; Page 236; Escalating non-compliance and making exit arrangements


NEW QUESTION # 105
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