Free L3M1 Questions for CIPS Procurement and Supply Environments L3M1 Exam as PDF & Practice Test Engine
A 'genuine pre-estimate of loss' describes:
Correct Answer: D
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Continuously gathering and analysing intelligence from sources such as professional, industry and trade journals, websites, conferences and exhibitions, published reports and online databases is called:
Correct Answer: B
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'Open tendering may impose a substantial administrative burden on the procurement function.' True or false?
Correct Answer: B
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'Shareholders are an example of stakeholders'. True or false?
Correct Answer: B
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In one format for describing socio-economic groupings, skilled, semi-skilled and unskilled working class people would be classified as:
Correct Answer: A
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The system by which organisations are directed and controlled, thinking about business ethics and stakeholder responsibility, and where Directors may be held to account, is called:
Correct Answer: B
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'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?
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?
Correct Answer: B
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Which of the following would not normally be seen as part of public sector procurement?
Correct Answer: B,E
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'The value of a commodity or service measured in terms of the standard monetary unit' describes:
Correct Answer: C
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In terms of interest rates, the 'base rate' is:
Correct Answer: D
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