Expert Answers to CIPS Exam L3M1 Questions

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CIPS Level 3 Advanced Certificate in Procurement and Supply Operations Procurement and Supply Environments

Procurement and Supply Environments

Last Update Apr 2, 2025
Total Questions : 90

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Questions 2

Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), the content of the centre circle is about:

Options:

Governmental regulation of competition within an economy

Competitive rivalry within the industry

Governmental interference in an industry

Competitor price-cutting to increase market share

Discussion 0

Questions 3

'Price' and 'payment terms' are the same thing.

True or false?

Options:

False

True

Discussion 0

Questions 4

Fiscal policy deals with:

Options:

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

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

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

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

Discussion 0

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Questions 5

‘The value of a commodity or service measured in terms of the standard monetary unit’ describes:

Options:

Value for money

Price

Value added

Cost

Discussion 0

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