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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q64-Q69):

NEW QUESTION # 64
The World Fair Trade Organization (WFTO) aims to help large global businesses expand into new markets, offering better products and fairer prices for consumers. Is this statement accurate?

A. Yes, the WFTO provides financial aid to international companies
B. No, the WFTO primarily focuses on diminishing the influence of multinational corporations
C. Yes, the WFTO establishes global rules to safeguard consumers
D. No, the WFTO focuses on supporting smaller and disadvantaged producers

Answer: D

NEW QUESTION # 65
In 1999, the UN launched the Global Compact, a principle-based framework for sustainable business. Which of the following areas are covered by the Global Compact? Select THREE

A. Minimum wage
B. Anti-corruption
C. Human rights
D. Environment
E. Racism

Answer: B,C,D

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Documents:
The UN Global Compact is based on ten principles derived from UN declarations. According to the L5M5 study guide (p.249), the areas covered are: human rights (A), labour standards, environment (B), and anti-corruption (C). "Racism" (D) is not listed specifically; instead, the Compact addresses non-discrimination as part of labour rights. "Minimum wage" (E) is not a universal standard in the Compact, though labour standards cover fair conditions of work. Procurement professionals should align supply strategies with these principles to support global sustainability and ethical practice.
Reference: Managing Ethical Procurement and Supply (L5M5) Study Guide, p.249

NEW QUESTION # 66
During the transition phase at the end of a contract, what is typically the most challenging aspect to manage?

A. Developing an exit strategy
B. Transferring documents
C. Returning physical assets
D. Knowledge transfer and intellectual property (IP) rights

Answer: A

Explanation:
continuity, and addressing ownership, usage rights, and confidentiality. Mismanagement can have significant operational and legal implications.
Incorrect answer:
Choice B- Developing an exit strategy: This should already be planned during the contract drafting phase, making it less complex at the end stage.
Choice C- While it can involve logistical challenges, it is usually straightforward with clear inventory and tracking.
Choice D- Though it requires careful handling, it is generally a easier procedural task.
Reference:
LO-2.4; Page 240-241; Escalating non-compliance and making exit arrangements

NEW QUESTION # 67
Jan is a procurement manager exploring Low-Cost Country Sourcing. Which of the following is a legitimate motive for this?

A. To reduce operational expenses
B. To get free holidays
C. To exploit other countries' natural resources
D. To avoid stringent restrictions in your own country

Answer: A

Explanation:
Comprehensive and Detailed Explanation From Exact Extract of Documents:
The L5M5 study guide (p.71) explains that the legitimate motive for Low-Cost Country Sourcing (LCCS) is reducing operational expenses by accessing cheaper materials, labour, or manufacturing. However, this must be conducted ethically, balancing cost savings with environmental, social, and legal responsibilities. Options A and B reflect unethical practices, while C is irrelevant. Procurement professionals must carefully evaluate suppliers in low-cost countries to ensure compliance with ethical standards such as labour rights, environmental protection, and anti-bribery legislation. LCCS can create value but must not compromise sustainability or governance.
Reference: Managing Ethical Procurement and Supply (L5M5) Study Guide, p.71

NEW QUESTION # 68
Which of the following standard operating procedures do procurement professionals use to prevent fraud within a company?

A. Implementing a whistleblower hotline to report suspicious activities anonymously
B. Using verbal agreements for procurement contracts to expedite the process
C. Bypassing formal bidding processes for convenience in purchasing decisions
D. Allowing a single employee to handle all procurement transactions without oversight

Answer: A

Explanation:
Choice B- A whistleblower hotline allows employees to report suspected fraudulent activities or unethical behavior anonymously, fostering a culture of transparency and accountability. This tool can help organizations identify and address fraud early, reducing the risk of financial loss.
Incorrect answer:
Choice A- Allowing one person to manage all procurement transactions without oversight significantly increases the risk of fraud. Implementing checks and balances, such as requiring multiple approvals or reviews, is essential for accountability and transparency in procurement processes.
Choice C- Relying on verbal agreements increases the risk of misunderstandings and fraud, as there is no formal documentation to refer to. Written contracts are essential for establishing clear terms and protecting both parties, which helps mitigate fraud risks.
Choice D- This option is incorrect. Bypassing formal bidding processes undermines transparency and competitiveness, increasing the risk of fraud and corruption. Adhering to formal procurement processes ensures fairness, accountability, and proper documentation, reducing the likelihood of fraudulent activities.
Reference:
LO-1.1; Page 22-23; The role of governance considerations in securing ethical and sustainable procurement and supply arrangements

NEW QUESTION # 69
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