CIPS L5M5 Test Questions Vce | L5M5 Test Collection Pdf

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q106-Q111):

NEW QUESTION # 106
Which three of the following can the procurement function use to integrate sustainability into contract pricing and payment terms?

A. Payment terms focused on supporting multinational corporations
B. Pricing based on quality focus
C. Pricing mechanisms focused on developing large-scale businesses
D. Incentivized payment terms
E. Flexible price agreements

Answer: B,D,E

Explanation:
Choice A- Supports sustainability by accommodating cost changes tied to sustainable practices (e.g., carbon pricing, resource scarcity).
Choice C- Pricing based on quality focus prioritizes sustainability by valuing higher quality, sustainable products or services over lower-cost alternatives.
Choice D- Rewards suppliers for meeting or exceeding sustainability targets (e.g., early payments for sustainable achievements).
Incorrect answer:
Choice B- Not directly related to sustainability, unless tied to large-scale sustainable initiatives (e.g., renewable energy projects).
Choice E- This does not directly contribute to sustainability and may favor established corporations over smaller, more innovative, and potentially sustainable suppliers.
Reference:
LO-2.2; Page 187-191; Monitoring Contract Performance

NEW QUESTION # 107
Abed, the CEO of a manufacturing firm, plans to introduce an ESG policy. During a board meeting, concerns were raised about potential employee resistance to the initiative. What could be the most likely cause of this resistance?

A. ESG policies require extra resources in both time and money
B. A good ESG strategy promotes innovation
C. ESG policies require change which the employees are afraid of
D. Negative publicity

Answer: C

Explanation:
Choice D- ESG policies require change and many employees are worried by change. Thus D is the correct answer!
Incorrect answer:
Choice A- ESG agendas increases business reputation and does not negatively publicize.
Choice B- Requiring extra resources is a matter of the management and does not concern the employees.
Choice C- Promoting innovation is a positive effect of ESG policies and leads to more engaged employees.
Reference:
LO-1.1; Page 7; Analyze the application of ethical and ESG (Environmental, Social and Governance) factors in supple chains

NEW QUESTION # 108
During the transition phase at the end of a contract, what is typically the most challenging aspect to manage?

A. Returning physical assets
B. Transferring documents
C. Developing an exit strategy
D. Knowledge transfer and intellectual property (IP) rights

Answer: C

Explanation:
continuity, and addressing ownership, usage rights, and confidentiality. Mismanagement can have significant operational and legal implications.
Incorrect answer:
Choice B- Developing an exit strategy: This should already be planned during the contract drafting phase, making it less complex at the end stage.
Choice C- While it can involve logistical challenges, it is usually straightforward with clear inventory and tracking.
Choice D- Though it requires careful handling, it is generally a easier procedural task.
Reference:
LO-2.4; Page 240-241; Escalating non-compliance and making exit arrangements

NEW QUESTION # 109
A small-scale cocoa farmer in a developing country is a member of a Fair Trade cooperative, which benefits from a guaranteed minimum price for cocoa and a Fairtrade Premium. However, some members have expressed concerns about the system. Which of the following is a common criticism of the Fair Trade standard that might explain their dissatisfaction?

A. The Fairtrade Premium is too small to make a meaningful impact on the community
B. The administrative costs of certification and compliance reduce the net income for farmers
C. All of the above
D. Farmers who are not part of the cooperative cannot access the benefits of Fair Trade

Answer: C

Explanation:
Choice A- Critics argue that while the premium is helpful, it may not always be sufficient to address significant challenges like poverty or infrastructure gaps in the community.
Choice B- Fair Trade certification often requires membership in a cooperative, which excludes independent farmers or those unable to join due to geographic or financial barriers.
Choice C- Fair Trade certification comes with costs and stringent requirements, which can burden farmers and cooperatives, sometimes negating the financial benefits of participation.
Choice D- This is the correct answer because all the options accurately highlight potential limitations of the Fair Trade system.
Reference:
LO-3.3; Page 306; Fairtrade standards that affect the workplace and producers and their implications for procurement and supply

NEW QUESTION # 110
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 supplier is entitled to an extension of the delivery deadline
C. The buyer can terminate the contract and seek damages for losses incurred
D. The buyer must renegotiate the contract terms to account for the delay

Answer: C

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 # 111
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