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CIPS L3M1 Exam Dumps

Get All Procurement and Supply Environments Exam Questions with Validated Answers

L3M1 Pack
Vendor: CIPS
Exam Code: L3M1
Exam Name: Procurement and Supply Environments
Exam Questions: 90
Last Updated: February 27, 2026
Related Certifications: Level 3 Advanced Certificate in Procurement and Supply Operations
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Free CIPS L3M1 Exam Actual Questions

Question No. 1

Thinking of Michael Porter's Industry Structure Analysis (commonly referred to as Five Forces Analysis), the content of the centre circle is about:

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Correct Answer: B

Competitive rivalry within an industry.

This can be quite an important point, and why I have such a dislike of the less formal title for the model - the model is about entire industries, not just about a single firm - this is commonly misun-derstood by students (and sadly, some tutors) - and the original Porter title - 'Industry Structure Analysis' - helps us understand that, I think. I find this tool of analysis to be very helpful in under-standing behaviour within sectors, despite criticism of the model and its age from some commenta-tors

The other answers shown are mere fictions.


Question No. 2

A market situation where there is only one buyer in the marketplace is called:

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Correct Answer: D

A market with only one buyer is called a 'monopsony'.

There may be other QUESTION NO :s in this test about the other terms shown, so I shall hold back on expla-nation(s) here.


Question No. 3

Sources of finance for a public sector entity are primarily (select one):

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Correct Answer: B

The correct answer is 'taxpayers'. On occasion, part of a public sector organisation may make sales which will generate revenue. In some mega-projects (eg power generation), public sector bodies will sometimes into long-term arrangements with private sector financiers, but this is not the mainstream. Delaying payments to suppliers is a tactic used by some organisations, but they are more likely to be private sector, and such a practice is regarded as unethical by many, including CIPS.


Question No. 4

An organisation is...

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Correct Answer: A

Social arrangement because it involves people; they have a collective goal eg to be a profitable or-ganisation; and their performance must be controlled to work towards or to achieve that goal / those goals.


Question No. 5

Why is procurement governance important?

Select all that apply.

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Correct Answer: A, C, D

It is important, for the reasons given in the three correct answers.


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