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CIPS L4M4 Exam Syllabus Topics:

Topic	Details
Topic 1	Understand compliance issues when sourcing from suppliers: It explores legislative, regulatory, and organizational requirements for sourcing. It compares the use of audit and other mechanism of feedback.
Topic 2	This section examines analyzing market data, obtaining quotations tenders, and assessing responses. The sub-topics focus on key processes for evaluating potential suppliers.
Topic 3	Understand the key processes that can be applied to the analysis of potential external suppliers:
Topic 4	Understand options for sourcing requirements from suppliers: This section covers the sourcing process, approaches, options, and award criteria for obtaining requirements from suppliers. The sub-topics provide a foundation for strategic sourcing.

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CIPS Ethical and Responsible Sourcing Sample Questions (Q24-Q29):

NEW QUESTION # 24
When sourcing an item of strategic importance and high value in the public sector, is it important to advertise this publicly?

A. yes- the public sector should advertise the opportunity as a call for competition
B. no- buyers can approach known contractors
C. yes- the public sector should advertise through the Freedom of Information Act
D. no- buyers in the public sector do not source strategic items

Answer: A

Explanation:
The correct answer is 'yes- the public sector should advertise as a call for competition'. They do this in the Official Journal of the European Union (OJEU). Public Sector has to be transparent about everything and treat all suppliers equally. So they can't just approach the ones they like.
In the study guide it says OIEU and this is a typo. It's OJEU.
What is The OJEU in 2 minutes or less (trackerintelligence.com)

NEW QUESTION # 25
Commodities are items which can be traded on the stock exchange. These are generally divided into four categories. What are these four categories?

A. energy, agriculture, metals, livestock
B. fruit, vegetables, meat and dairy
C. metals, energy, elements and agriculture
D. chemicals, agriculture, metals and livestock

Answer: A

Explanation:
energy, agriculture, metals, livestock are the four trading categories on the stock exchange. Some-times there's a 5th category added which is 'environmental credits'. This is a fairly new thing and you don't need to know anything about this for this exam.
Question no commodities will mainly centre around characteristics of commodities and factors that affect pricing.
Commodities are discussed much more in detail in L5M4. At level 4 you just need a basic overview.

NEW QUESTION # 26
In order to assess whether a company is able to meet its current liabilities, which financial ratio should you use?

A. Gross Profit Margin
B. Acid Test
C. Gearing Ratio
D. Return on Equity

Answer: D

Explanation:
"Meet current liabilities" is a posh way of saying "can you pay your bills". You're therefore looking for a liquidity ratio- a ratio that looks at assets vs liabilities (i.e. money in the bank vs money owed out). The Acid Test is a liquidity ratio. It's sometimes called the 'quick ratio'. Both terms come up on the exam. The other options are financial ratios but aren't for liquidity.

NEW QUESTION # 27
What type of ratio is used to measure a company's ability to meet its short-term financial obligations, specifically focusing on its ability to convert assets into cash to cover current liabilities?

A. Earnings per share
B. Dividend per share
C. Profitability ratio
D. Liquidity ratio

Answer: D

Explanation:
Liquidity ratios, such as the current and quick ratios, evaluate a company's ability to meet short-term liabilities with current assets. This metric is crucial for assessing a supplier's financial stability, ensuring continuity and reliability in the supply chain, which aligns with ethical and responsible sourcing principles.

NEW QUESTION # 28
When using a 'credit account' payment mechanism, when does a supplier receive payment for the goods?

A. after delivery
B. before the order is placed
C. in advance of delivery
D. when they receive the PO

Answer: A

Explanation:
In a 'Credit Account' payment mechanism- the supplier receives payment after the goods are delivered, in line with agreed payment terms (which may be 30 days or something like that).

NEW QUESTION # 29
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