Practice L5M6 Exam Online

Question 1

Which of the following approaches to cost is the least transparent?

A : price management

B : price acceptance

C :

cost down

D : cost out

Answer: B

Question 2

In order for Category Management to be a success, it is important to have business commitment and stakeholder buy-in. Is this TRUE?

A :

Yes- if the organisation is to realise the benefits of Category Management, it must be fully endorsed and supported by top management

B : Yes- Category Management is a tactical approach to sourcing and therefore requires cross-functional teamworking to succeed

C : No- Categories can work independently of each other and therefore do not require stake-holder buy-in.

D : No- business commitment is only required for high spend categories

Answer: A

Question 3

Which of the following will you put into box 6?

A : Profitability Concern

B : Liquidity Concern

C :

Gearing Concern

D : Efficiency Concern

Answer: C

Question 4

CEB Research states that there are 6 competencies which drive strategic performance in Procurement. The ability to stay calm under pressure and handle criticism is which of the following competencies?

A : influencer

B : adaptor

C : innovator

D : results seeker

Answer: B

Question 5

Which of the following will you put into box 8?

A :

leverage

B : strategic

C : bottleneck

D : non-critical

Answer: B

Name:	CORE Level 5 Advanced Contract & Financial Management
Exam Code:	L5M6
Certification:	Level 5 Advanced Diploma in Procurement and Supply
Vendor:	CIPS
Total Questions:	122
Last Updated:	May 14, 2024

CIPS L5M6