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L3M1 practice test questions answers

CIPS L3M1 Dumps Questions Answers

Exam Code:
L3M1
Last Update: Dec 19, 2024
90 Questions Answers with Explanation Detail
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Average Score In Real
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L3M1 Q&A's Detail

Exam Code:
L3M1
Total Questions:
90 Q&A's
Single Choice Questions:
71 Q&A's
Multiple Choice Questions:
19 Q&A's

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Procurement and Supply Environments Questions and Answers

Questions 1

Value for money can be defined by 'the three E's',

Select those which are not part of 'the 3 E's'.

Options:

A.

Effluence

B.

Effectiveness

C.

Ecology

D.

Energy

E.

Economy

F.

Efficiency

G.

Efficacy

Questions 2

‘The social responsibility of business is profit maximisation’ - focusing on returns to shareholders.

This is a famous business philosophy - in contrast to a philosophy of Corporate Social Responsibility as expounded by CIPS.

Which economic and management thinker famously promoted this view?

Options:

A.

John Milton

B.

Milton Friedman

C.

John Maynard Keynes

D.

Milton Keynes

Questions 3

Which of the following would not normally be seen as part of public sector procurement?

Options:

A.

Achieving defined service levels

B.

Personal bonus payments for procurement staff, linked to savings made

C.

An emphasis on the use of the competitive principle

D.

Personal financial rewards from suppliers for buyers in return for awarding contracts

E.

Pursuit of equal opportunities policies, internally and externally

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