TEST L5M5 SIMULATOR FEE | L5M5 VALID EXAM FEE

Test L5M5 Simulator Fee | L5M5 Valid Exam Fee

Test L5M5 Simulator Fee | L5M5 Valid Exam Fee

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Tags: Test L5M5 Simulator Fee, L5M5 Valid Exam Fee, New L5M5 Test Vce, L5M5 New Dumps Pdf, Test L5M5 Sample Questions

CIPS is one of the most powerful and rapidly growing fields nowadays. Everyone is trying to get the CIPS L5M5 certification to improve their futures with it. Success in the test plays an important role in the up gradation of your CV and getting a good job or working online to achieve your dreams. The students are making up their minds for the CIPS L5M5 test but they are mostly confused about where to prepare for it successfully on the first try. This confusion leads to choosing outdated material and ultimately failure in the test. The best way to avoid failure is using updated and real questions.

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q16-Q21):

NEW QUESTION # 16
When developing an ESG policy, which of the following steps should be taken first?

  • A. Gather Information
  • B. Consult with stakeholders
  • C. Draft the policy
  • D. Identify the need

Answer: D

Explanation:
Steps to take to develop an ESG policy:
1) Identify the need
2) Identify who will take lead responsibility
3) Gather information
4) Draft the policy
5) Consult with stakeholders
6) Approve the policy
7) Procedures
8) Implement the policy
9) Monitor
So the correct answer is D.
Reference:
LO-1.1; Page 32-33; The development of ESG focused procurement and supply policies in securing ethical and sustainable procurement and supply arrangements


NEW QUESTION # 17
Mila's Catering Services has committed to paying living wages to its workers as part of its ESG objectives. Which of the following are reasons for this initiative? Select any TWO.

  • A. Improves long term buyer supplier relationships and makes them sustainable
  • B. Living wage laws can reduce job opportunities for less-skilled workers
  • C. Paying a living wage can be expensive, especially for small businesses with thin profit margins
  • D. Creates a positive impact on the society

Answer: A,D

Explanation:
Choice B - Paying living wages improves long term buyer supplier relationships and makes them sustainable thus is good for business. This option is correct.
Choice D- Living wages workers are working individuals who can actively take part in the local economy and boost local businesses. This therefore motivates business leaders and employees who want their company to make a positive impact on the society. This is also the correct answer.
Choice A - The imposition of living wages reduces job opportunities for the very families they are intended to help. When wages are legislated by government above those that would result in a competitive market, employers respond by reducing the number of workers they employ and/or the number of hours their employees work. That means living wage laws lead to higher unemployment for low-skilled workers and reduce opportunities for those entering the workforce to gain valuable skills and work experience. This is a downside of living wage and not a reason to take the initiative.
Choice C -Considering cost, paying a living wage can be expensive, especially for small businesses with thin profit margins thus is not a reason to undertake the initiative.
Reference:
LO-1.3; Page 92-93; Wages and social security arrangements


NEW QUESTION # 18
In what circumstances is Expert Determination the most suitable method for resolving contract disputes?

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

Answer: D

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 # 19
Which of the following best defines a cartel, and which party in the supply chain is most impacted by it?

  • A. A coalition of businesses to increase competition; primarily affects shareholders
  • B. A collaboration between manufacturers to innovate; primarily affects suppliers
  • C. An informal agreement among suppliers to lower costs; primarily affects retailers
  • D. A formal agreement between competing firms to set prices and limit production; primarily affects consumers

Answer: D

Explanation:
Choice A- This accurately describes a cartel. Firms collude to manipulate the market, resulting in higher prices and limited availability of goods. Consumers are directly impacted as they pay more and have fewer choices. Thus Choice A is the correct answer.
Incorrect answer:
Choice B- This describes a scenario more akin to cooperative pricing or collusion among suppliers, but it doesn't capture the essence of a cartel. While it could affect retailers by changing supply costs, it misses the focus on competition and pricing control typical of cartels.
Choice C- This option suggests a positive collaborative effort aimed at innovation, which is not characteristic of cartels. Cartels are generally about restricting competition rather than fostering innovation. Suppliers might be indirectly affected, but it doesn't align with cartel behavior.
Choice D- This is the opposite of what a cartel does. Cartels reduce competition by collaborating to control prices and production. While shareholders may be affected by cartel activities, the primary impact is felt by consumers and the market as a whole.
Reference:
LO-1.1; Page 43; Issues impacting ethical and sustainable procurement and supply: modern slavery, bribery, corruption, fraud and human rights infringements


NEW QUESTION # 20
Which of the following statements best describes the potential risks associated with adopting ESG considerations?

  • A. ESG initiatives are primarily concerned with social factors and do not impact environmental or governance aspects
  • B. Implementing ESG considerations guarantees immediate financial returns and market leadership
  • C. Adopting ESG practices eliminates all regulatory scrutiny and compliance requirements
  • D. Greenwashing can lead to a loss of consumer trust and brand reputation when companies falsely claim to be environmentally friendly

Answer: D

Explanation:
Choice D- Greenwashing involves misleading claims about a company's environmental practices, which can result in significant backlash from consumers and stakeholders. If consumers discover that a company is not genuinely committed to sustainability, it can lead to a loss of trust, negative publicity, and a damaged brand reputation. Thus is the correct answer.
Incorrect answer:
Choice A- ESG initiatives encompass environmental, social, and governance factors, and all three components are interconnected. Ignoring any of these aspects can undermine the overall effectiveness of ESG strategies and fail to address comprehensive sustainability goals.
Choice B- While adopting ESG practices can lead to long-term benefits, such as improved brand loyalty and risk mitigation, it does not guarantee immediate financial returns or market leadership. The transition to sustainable practices often requires time and investment before yielding significant financial benefits.
Choice C- This option is incorrect. Implementing ESG practices does not eliminate regulatory scrutiny; in fact, it may increase it, as regulators are becoming more focused on corporate sustainability and accountability. Companies still need to comply with existing regulations and may face additional reporting requirements related to their ESG efforts.
Reference:
LO-1.1; Page 27; The risks and rewards of adopting ESG considerations in securing ethical and sustainable procurement and supply arrangements


NEW QUESTION # 21
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