L3M1 Exam Dumps - CIPS Level 3 Advanced Certificate in Procurement and Supply Operations Questions and Answers

Explanation

This is true.

A limited company has its own legal identity.

(Your syllabus makes reference to 'unincorporated companies'. This is something of a contradiction - the term 'company' implies incorporation. Although I have not been permitted to see your actual ex-am QUESTION NO:s, it seems unlikely that you will be QUESTION NO:ed on this particular point).

Explanation

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

Fiscal policy relates to taxation and its relationship to government expenditure.

The other two suggested answers: exchange rates and unemployment rates are a factor of other poli-cies; the size of coins and banknotes is beyond the scope of your syllabus and my knowledge. :)

Explanation

'Multi-national corporation' is the correct answer. Very large international organisations, with very large turnover, purchasing power and influence. Examples would include: Alphabet, Amazon, Ap-ple, Dell, Ford, Shell, Toyota, etc

Explanation

The x-axis shows time. For some products, it may represent a year; for others, a century.

The other answers given could all be shown on the y-axis of the PLC, depending on circumstances.

Explanation

There is an expression 'painshare' which is an almost-ironic term referring to the opposite of the situ-ation described in the QUESTION NO: - when something has gone wrong, and the additional cost must be shared between the parties. The other two answers are a little bit facetious.

The correct answer is 'gainshare' when the parties share benefits, according to a pre-agreed ratio or formula.

Explanation

All except the self-employed tutor have a social arrangement with collective goals, and controls on performance.

The self-employed tutor may have a goal, but it is not collective; is not part of a(n internal) social arrangement and controls on performance may be entirely in their own hands, or perhaps even ab-sent altogether.

Explanation

Because a wide range of organisations (or even individuals) may respond to an open tender, consid-erable administrative resource may have to be devoted to analysing offers.