NEW L5M5 TEST TEST - L5M5 LATEST DUMP

New L5M5 Test Test - L5M5 Latest Dump

New L5M5 Test Test - L5M5 Latest Dump

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Passing the Managing Ethical Procurement and Supply (L5M5) (L5M5) certification is crucial for those who want to excel in the CIPS industry. However, one of the biggest challenges that individuals face after deciding to take the Managing Ethical Procurement and Supply (L5M5) (L5M5) exam is finding authentic L5M5 questions for efficient preparation. Those who do not study with real Managing Ethical Procurement and Supply (L5M5) (L5M5) dumps often fail the test and waste their valuable resources.

CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q28-Q33):

NEW QUESTION # 28
Mr. Jerry, a procurement professional at a multinational company, notices unusually low labor rates within the supply chain. Which of the following should be his primary concern?

  • A. Fraudulent activity
  • B. Bribe
  • C. Modern Slavery
  • D. Corruption

Answer: C

Explanation:
Choice A- A procurement professional can evaluate the risk of slavery in their supply chain by considering whether buyers negotiate excessively low prices. If suppliers are pressured to reduce costs, it can negatively impact the finances of businesses involved in raw material production, increasing the likelihood of forced labor. Therefore, Choice A is the correct answer.
Choice B- Corruption is the dishonest or fraudulent behavior of people in power. This could be in the form of a producer bribing an official to get access to more farmland. It does not relate to low labor rates.
Choice C- Bribery is the act of offering money or something valuable to another person to persuade them to do something for you. Therefore is not concerned with labor rates.
Choice D- Fraud is the criminal deception that is designed to give a person or business a financial or personal benefit, ranging from bribes offered during supplier selection to forged checks during financing to fraudulent payments or payment guarantees. This option is not associated with low labor raters thus is not the answer.
Reference:
LO-1.1; Page 45; Issues impacting ethical and sustainable procurement and supply: modern slavery, bribery, corruption, fraud and human rights infringements


NEW QUESTION # 29
A construction company contracts a supplier to deliver steel beams for a project, with the contract specifying that "time is of the essence," requiring delivery by January 31. However, due to unexpected delays, the supplier delivers the beams on February 5, causing project delays and financial losses for the construction company.
What is the most likely consequence of the supplier missing the deadline when "time is of the essence" is a contractual condition?

  • A. The buyer must renegotiate the contract terms to account for the delay
  • B. The buyer is required to accept the late delivery without penalty
  • C. The supplier is entitled to an extension of the delivery deadline
  • D. The buyer can terminate the contract and seek damages for losses incurred

Answer: D

Explanation:
Choice B- When "time is of the essence" is a condition in a contract, meeting the specified timeline is a critical obligation. A failure to meet the deadline constitutes a breach of contract, allowing the aggrieved party (the buyer) to terminate the contract and claim damages for any resulting losses. The other options are inconsistent with the legal consequences of this type of clause.
Incorrect answer:
Choice A- When "time is of the essence" is a condition, delivery by the specified date is critical. If the supplier fails to meet the deadline, the buyer is not obligated to accept the late delivery. Instead, they have the right to terminate the contract and potentially seek damages. Accepting late delivery would only occur if the buyer explicitly waives the "time is of the essence" clause.
Choice C- "Time is of the essence" leaves no room for flexibility in meeting deadlines unless the contract explicitly allows for extensions (e.g., due to force majeure or renegotiated terms). In this case, the supplier's delays, unless excused by the contract, result in a breach.
Choice D- The buyer is not obligated to renegotiate the contract when "time is of the essence" is breached. They have the legal right to terminate the contract and pursue remedies, including damages. Renegotiation would only occur if both parties voluntarily agree to modify the terms.
Reference:
LO-2.2; Page 189-190; Monitoring Contract Performance


NEW QUESTION # 30
During the transition phase at the end of a contract, what is typically the most challenging aspect to manage?

  • A. Developing an exit strategy
  • B. Knowledge transfer and intellectual property (IP) rights
  • C. Returning physical assets
  • D. Transferring documents

Answer: A

Explanation:
continuity, and addressing ownership, usage rights, and confidentiality. Mismanagement can have significant operational and legal implications.
Incorrect answer:
Choice B- Developing an exit strategy: This should already be planned during the contract drafting phase, making it less complex at the end stage.
Choice C- While it can involve logistical challenges, it is usually straightforward with clear inventory and tracking.
Choice D- Though it requires careful handling, it is generally a easier procedural task.
Reference:
LO-2.4; Page 240-241; Escalating non-compliance and making exit arrangements


NEW QUESTION # 31
The development of a documented process to assess the environmental performance of suppliers prior to appointment, would be covered by which part of an ISO 14001:2015 environmental management system?

  • A. Operation
  • B. Support
  • C. Performance evaluation
  • D. Context of the organization

Answer: A

Explanation:
Choice B- This is the correct answer. The "Operation" clause of ISO 14001:2015 includes the need for an organization to establish processes for managing external impacts, such as assessing the environmental performance of suppliers and considering their sustainability efforts before appointing them.
Incorrect answer:
Choice A- This part of the ISO 14001:2015 focuses on monitoring, measuring, analyzing, and evaluating the environmental performance of the organization. It is more about assessing the internal processes rather than supplier assessment.
Choice C- This part focuses on understanding the external and internal factors that influence the organization's environmental management system, but not directly on supplier assessment processes.
Choice D- This section covers the resources, competence, awareness, communication, and documented information needed to support the environmental management system, but does not directly address the supplier evaluation process.
Reference:
LO-3.2; Page 284; Role of industry standards and frameworks used by organizations in securing ESG considerations and ethical standards


NEW QUESTION # 32
Alphacom Corporation seeks to enhance its competitive advantage through global sourcing. Which of the following strategies would best contribute to this goal?

  • A. Investing in automated technologies to replace local labor
  • B. Hiring additional staff to manage remote sourcing operations
  • C. Centralizing all procurement decisions at the headquarters to streamline processes
  • D. Establishing partnerships with local suppliers to enhance supply chain responsiveness

Answer: D

Explanation:
Choice B - This option is the correct answer, as it emphasizes the value of strong local relationships. Local suppliers can provide faster delivery times, better understanding of regional market needs, and flexibility in adapting to changes, all of which enhance competitiveness..
Incorrect answer:
Choice C- Centralizing procurement can lead to efficiency but may overlook the benefits of local insights and responsiveness. This approach might result in a lack of adaptability to local market conditions, which can hinder competitive advantage.
Choice D- Although automation can increase efficiency and lower production costs, it may reduce the ability to quickly adapt to changes in consumer preferences or market conditions. It also removes the local insight that human suppliers can provide, potentially leading to a disconnect from customer needs.
Reference:
LO-1.2; Page 69; Competitive advantage through global sourcing


NEW QUESTION # 33
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