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CIPS Defining Business Needs Sample Questions (Q188-Q193):

NEW QUESTION # 188
The procurement team of a global supermarket has created a business case for a corporate social responsibility (CSR) sourcing strategy to meet the corporate objective of sustainability. This would require sourcing only from suppliers who meet ethical standards, a reduction in plastic, and using recycled material where possible. Which of the following business benefits would be mentioned in the business case? Select TWO that apply:

A. Leverage of technology
B. Fulfilment of a business objective
C. Reduced cost
D. Increased capacity
E. Improved brand equity

Answer: B,E

Explanation:
Detailed Explanation:
* A (Fulfilment of business objective): Aligning procurement practices with sustainability goals supports the overall corporate strategy.
* D (Improved brand equity): Sustainable practices enhance reputation and consumer trust.Other options, like increased capacity or reduced costs, are secondary or unrelated to CSR initiatives.
Reference: CIPS Level 4, CSR and Sustainability.

NEW QUESTION # 189
A charity is reviewing their spend and budget after an operation in flooded areas. They realise that the operators save money against the budgeting plan. This saving is known as...?

A. Positive variance
B. Negative variance
C. Positive budget
D. Negative budget

Answer: B

Explanation:
The difference between the actual spend and budgeted spend is known as variance. The formula for variance is:
Variance = Actual spend - Budgeted spend
Variances can be adverse/unfavourable or favourable ie they can be positive or negative.
Be very careful with these terms. A positive or a negative variance may be favourable or it may be adverse/ unfavourable.
Adverse variances
Adverse variances are those variances that are unfavourable to the firm. Examples would be sales below plan; costs above budget, cash receipts lower than expected, and overtime payment more than forecast.
Favourable variances
Favourable variances are those variances that are beneficial to the business. Examples would be sales ahead of plan, costs below budget, and wages below forecast.
Positive variance
A positive variance occurs where 'actual' exceeds 'planned' or 'budgeted' value. Examples might be actual sales are ahead of the budget.
Negative variance
A negative variance occurs where 'actual' is less than 'planned' or 'budgeted' value. Examples would be when the raw materials cost less than expected, sales were less than predicted, and labour costs were below the budgeted figure.
When the operators create saving, it means that the Actual spend is less than Budgeted spend. Therefore the variance is negative.

NEW QUESTION # 190
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply

A. Supplier shortens their payment period
B. Customers agree to pay immediately
C. Increasing revenue
D. Depreciation of fixed asset
E. More inventory

Answer: A,E

Explanation:
To answer this question, candidates are required to remember the cash flow cycle and cost entries as well as the impact of their timing on a business.
Diagram Description automatically generated

Source: https://cfoperspective.com/free-your-cash-trapped-in-the-cash-conversion-cycle/ Shorter payment term and more inventory are likely to have negative impact on the cash flow be-cause the buyer has to pay sooner and greater.
"Customers agree to pay immediately" will increase the organisation's bank account sooner.
Depreciation has no impact on cash flow as it is only listed in Profit and Loss statement.
Increasing revenue may have negative or positive impact on cash flow, depending on the real situation.

NEW QUESTION # 191
SET Group are a start-up company trying to estimate the direct costs of materials for a project. The organisation has limited procurement records available. Would using general industry averages as a benchmark provide an accurate estimation of the project costs?

A. Yes, cost predictions do not need to be accurate as they are just an initial guess
B. Yes, industry benchmarks are always kept up to date to consider real-time market conditions
C. No, industry benchmarks do not consider specific specifications, quality requirements, or real-time market conditions
D. No, the organisation will not have access to industry benchmarks as they are a new organisation

Answer: C

NEW QUESTION # 192
Which of the following bodies provides standards for the products and services in the US?

A. BSI
B. ANSI
C. ISO
D. AFNOR

Answer: B

Explanation:
ANSI is the American National Standards Institute. It is responsible for providing technical stand-ards in the US LO 3, AC 3.1

NEW QUESTION # 193
......

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Reliable CIPS L4M2 Exam Tips - L4M2 Exam Topic

L4M2 real exam dumps: Defining Business Needs & L4M2 free practice exam

CIPS Defining Business Needs Sample Questions (Q188-Q193):

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