L5M2 Exam Dumps - CIPS Level 5 Advanced Diploma in Procurement and Supply Questions and Answers

Explanation

She should use a credit rating agency for this. She should not do this herself as she won't have access to accurate information like an agency will. The supplier may not have been truthful in their tender. For information on Credit Rating Agencies see p.79

An aging workforce is a strategic risk for the business.

Explanation

High risk/ high reward, and low risk/ low reward are the options that should be CONSIDERED. This is according to the risk/ reward matrix on p. 6. Items that are low risk/ high reward should be PROGRESSED and items which are high risk / low reward should be AVOIDED.

Explanation

analyse is the correct answer. The full process is: establish context- identify- analyse - evaluate - treat - monitor and review. This is from p.122

Explanation

monitor and review is the last stage. The full cycle is; establish context - identify risks - analyse and evaluate risks - treat -communicate and consult - monitor and review. See p. 142

Explanation

Act is the final stage. See p.25 for a diagram of the cycle.

Explanation

This is 'contingent business interruption' insurance. This protects you if anything were to happen to your suppliers' premises. Business Interruption Insurance would cover you if something were to happen to your premises. See p.99

Explanation

Patent and Trademark are types of IP protection. There are 4 in total - the other two are copywrite and trade secret. This is covered on p.63-64 of the study guide