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Vendor: | CIPS |
---|---|
Exam Code: | L3M2 |
Exam Name: | Ethical Procurement and Supply |
Exam Questions: | 90 |
Last Updated: | October 6, 2025 |
Related Certifications: | Level 3 Advanced Certificate in Procurement and Supply Operations |
Exam Tags: |
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'Efficiency is measured in terms of a quantity of ...'
Output per unit of input resource.
Efficiency is, in a sense, seeking to get as much out of a system, while putting in as little as possible.
Disclose, distance, delegate, ...?
Disassociate is the correct answer.
This is the 4 D's model of how to deal with a conflict of interest.
'Discombobulate' means to disconcert or confuse, as if you didn't know.
OTIF stands for:
On time and in full.
OTIF is a reference to an order placed with a supplier having been delivered in the right quantity and on time. Note that this acronym makes no reference to quality.
Which of the following most closely represents 'the five rights'?
Quality, quantity, price, place, time. You will need to memorise these.
Note that for CIPS purposes, none of: goods (product or service), manner (ethics) or supplier, is in-cluded in this list. For the sake of ease, perhaps best to just go along with CIPS' view.
'From an accounting perspective, added value is total XXXXXX minus total costs of all activities'.
Which word is missing?
Revenue.
Added value is really measured through the customer's eyes. I have a choice of six coffee shops from which to buy my morning coffee. One has an attractive mix of cleanliness, tasty coffee, effi-cient and friendly service - more than the others. This appealing all-round mix 'adds value' as far as I am concerned and I give it daily repeat business, visiting the others only occasionally. That added value offering generates the repeat business, and helps make the coffee shop more profitable.
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