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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q118-Q123):

NEW QUESTION # 118
Progoti Motors, a Bangladeshi company, has purchased a new fleet of vehicles from Japan. Which TWO of the following would be included in the 'Total Landed Costs' of this purchase?

A. Recycling costs
B. Research and development costs
C. Transportation costs
D. Disposal costs
E. Import duties

Answer: C,E

Explanation:
According to the study guide, total landed cost includes the original product price, transportation costs, fees, customs and duty charges, currency exchange rates, and handling costs. Therefore, Choices B and C are correct. Landed costs typically do not include expenses unrelated to the production and sale of a single item or costs that are difficult to determine precisely. Choices A, D, and E fall into this category.
Reference:
LO-1.4; Page 107; Demand Management and the need for urgent orders

NEW QUESTION # 119
A construction company contracts a supplier to deliver steel beams for a project, with the contract specifying that "time is of the essence," requiring delivery by January 31. However, due to unexpected delays, the supplier delivers the beams on February 5, causing project delays and financial losses for the construction company.
What is the most likely consequence of the supplier missing the deadline when "time is of the essence" is a contractual condition?

A. The buyer is required to accept the late delivery without penalty
B. The buyer can terminate the contract and seek damages for losses incurred
C. The buyer must renegotiate the contract terms to account for the delay
D. The supplier is entitled to an extension of the delivery deadline

Answer: B

Explanation:
Choice B- When "time is of the essence" is a condition in a contract, meeting the specified timeline is a critical obligation. A failure to meet the deadline constitutes a breach of contract, allowing the aggrieved party (the buyer) to terminate the contract and claim damages for any resulting losses. The other options are inconsistent with the legal consequences of this type of clause.
Incorrect answer:
Choice A- When "time is of the essence" is a condition, delivery by the specified date is critical. If the supplier fails to meet the deadline, the buyer is not obligated to accept the late delivery. Instead, they have the right to terminate the contract and potentially seek damages. Accepting late delivery would only occur if the buyer explicitly waives the "time is of the essence" clause.
Choice C- "Time is of the essence" leaves no room for flexibility in meeting deadlines unless the contract explicitly allows for extensions (e.g., due to force majeure or renegotiated terms). In this case, the supplier's delays, unless excused by the contract, result in a breach.
Choice D- The buyer is not obligated to renegotiate the contract when "time is of the essence" is breached. They have the legal right to terminate the contract and pursue remedies, including damages. Renegotiation would only occur if both parties voluntarily agree to modify the terms.
Reference:
LO-2.2; Page 189-190; Monitoring Contract Performance

NEW QUESTION # 120
Demand forecasting collects data on a company's supply capacity for an item, including current and projected supply categorized by industry and product end use. Is this statement TRUE?

A. No - demand forecasting analyzes a company's demand for an item, including current and projected demand
B. Yes - it is primarily used by manufacturing companies within the supply chain
C. No - supply forecasting predicts short- and long-term prices and trends
D. Yes - it gathers information about both supply and demand

Answer: A

Explanation:
Demand forecasting involves analyzing a company's demand for a specific item or SKU, including current and projected demand categorized by industry and product end use. Therefore, the correct answer is Choice A.
Reference:
LO-1.4; Page 114; Short term commercial gains and long term availability

NEW QUESTION # 121
A supplier has contracted to deliver a customized piece of machinery to a manufacturing company under a "payment following performance" clause. After delivery, the buyer delays payment, citing the need for additional testing to verify compliance with the agreed specifications.
What is the greatest risk the supplier faces under this "payment following performance" system in this scenario?

A. The supplier might fail to deliver on time and face penalties
B. The buyer might demand additional goods or services at no extra cost
C. The buyer might reject the machinery without valid reasons
D. The supplier might receive full payment before addressing the buyer's concerns

Answer: C

Explanation:
Choice A- Under a "payment following performance" system, the supplier bears the risk of non-payment or delays if the buyer disputes the performance, even without valid reasons.
Incorrect answer:
Choice B- Payment before addressing concerns contradicts the "payment following performance" system.
Choice C- Demanding additional goods or services is not directly tied to the payment terms.
Choice D- Delivery timing issues relate to performance obligations, not payment risk.
Reference:
LO-2.2; Page 189; Monitoring Contract Performance

NEW QUESTION # 122
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 # 123
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