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Ace Your L3M1 CIPS Level 3 Advanced Certificate in Procurement and Supply Operations Exam

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Question 20

Fiscal policy deals with:

Options:

A.

Government decisions and actions regarding the number of staff members employed in the government Treasury

B.

Government decisions and actions regarding the level of interest rates and supply of money in the economy

C.

Government decisions and actions regarding the balance between taxation revenue and public expenditure

D.

Government decisions and actions regarding exchange rates and unemployment in the economy

Question 21

Thinking of the STEEPLED factors which may impact long-term on an organisation, under which one heading would the following appear: growth trends, unemployment patterns, incomes, interest rates exchange rates and tax rates?

Options:

A.

Economic

B.

Environmental

C.

Political

D.

Ethical

Question 22

‘Cost transparency’ is the notion that:

Options:

A.

The buyer will reveal its’ actual costs to the seller

B.

Both sides will reveal their costs to each other

C.

The seller will reveal its’ actual costs to the buyer

D.

Cost is not an issue

Question 23

Which one of the following initiates the procurement process inside the buying organisation, calling for action by the procurement professionals?

Options:

A.

Request for quotation

B.

Invoice

C.

Specification

D.

Requisition

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Exam Code: L3M1
Exam Name: Procurement and Supply Environments
Last Update: Nov 25, 2024
Questions: 90
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