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Prepare for the CIPS Ethical Procurement and Supply exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
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The questions for L3M2 were last updated on Apr 29, 2025.
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Lifetime costs are also known as (choose two):
Lifetime costing, TCO and whole life costing are essentially the same concept - looking at buying based on total costs over the useful life of an asset, not just the purchase price. Although this con-cept seems obvious once you know it, very many people, including senior managers as well as politi-cians, seem to be unfamiliar with the notion.
Restricted or limited tendering is also sometimes known as:
Selective, restricted and limited are all essentially the same idea: not open tendering, but using some kind of prequalification approach.
You work as a buyer for a large international corporation. You are currently involved in managing a high-value tender, and one of the potential bidders offers to take you to a horse-racing event, with all expenses paid. The offer is for you alone; not for colleagues in your organisation. What do you do?
Decline.
It seems pretty obvious, and I hope you can come up with one or two reasons for this being the cor-rect answer.
It is thought that the cause of a negative variance in the materials budget is the poor negotiation skills of procurement staff. Which of the following (select two) would be a move in the right direc-tion to remedy this situation?
Surety of supply is not in question; cost of supply is.
Sacking the Head of Procurement is probably a rash move, unless there is much more going on.
Using competition, and ensuring effective skills are in place would seem to be good options in the circumstances.
KPIs should be:
Key Performance Indicators should be specific, measurable, achievable, realistic and time-bound; or words very similar to those, meaning broadly the same.
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