Free CIPS L4M4 Exam Questions

Become CIPS Certified with updated L4M4 exam questions and correct answers

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Total 486 Questions | Updated On: Oct 08, 2021

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Question 1

A company frequently buys goods from overseas. Due to this, exchange rate is a major concern to procurement department because it may fluctuate wildly. Which of the following should be done to reduce the risk of fluctuating exchange rate? Select TWO that apply.

A : king payment before delivery

B : justing the exchange rate for each shipment

C : gotiating exchange rate for future transaction

D : king payment by using letter of credit

E : ying currency options from bank

Answer: A,C

Question 2

The bill of lading is one of the main documents associated with sea freight within international sourcing. Which of the following statements represent some of the uses of the bill of lading? Select TWO that apply.

A : It provides evidence of the contract of carriage for the goods

B : It provides evidence of the title of ownership of the goods

C : It provides evidence of the country of origin of the goods

D : It provides evidence that the goods are fully insured in transit

E : It provides evidence guaranteeing the use of Incoterms on the goods

Answer: A,B

Question 3

When reviewing quotations and bids from supplier, which of the following should be considered as added value factors along side with price and technical aspects? Select TWO that apply:

A : pplier has a Code of Ethics

B : pplier is unable to invest in new technology

C : pplier offers good conditions on payment terms

D : pplier regularly updates CSR policies

E : pplier provides a good functional fit product

Answer: A,D

Question 4

What document is mandatory for a company to import new computers from USA for internal use?

A : Bill of exchange

B : Export license

C : Certificate of origin

D : Bill of entry

Answer: D

Question 5

Public organisations can decide on their owns whether their tender requirements are advertised. Is this statement true?

A : Yes, because this will help to reduce corruption

B : , because public procurement information is highly confidential

C : , because private entities have no capacities to carry out public contract

D : , because public procurement is heavily regulated

Answer: D

Page: 1 / 98

Total 486 Questions | Updated On: Oct 08, 2021

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