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CIPS L4M2 Exam is a three-hour written exam that consists of six questions. The questions are designed to test the candidate's understanding of the key concepts covered in the module. L4M2 exam is open book, which means that candidates are allowed to bring their textbooks and notes into the exam room. However, the use of electronic devices such as laptops and tablets is not allowed.

CIPS Defining Business Needs Sample Questions (Q20-Q25):

NEW QUESTION # 20
At which stage of product life cycle, price competition between sellers will be the most intense?

A. Growth stage
B. Introductory stage
C. Decline stage
D. Maturity stage

Answer: C

Explanation:
The term product life cycle refers to the length of time a product is introduced to consumers into the market until it's removed from the shelves. The life cycle of a product is broken into four stages-introduction, growth, maturity, and decline.

Chart, line chart Description automatically generated
Source: https://blueoceanoutsource.co.ke/the-product-life-cycle-concept/ At maturity stage, price competition sets in as more and more supply capacity has been added by new entrants, then the competition will be the most intense.

NEW QUESTION # 21
Which competitive forces influence markets in our modern environment?

A. Manufacturing of goods and services
B. Increased cost in supply and deliveries
C. Bargaining strength of suppliers and buyers
D. Production companies and relationships

Answer: C

Explanation:
Detailed Explanation:The bargaining strength of suppliers and buyers is a key factor influencing market competitiveness, as outlined in frameworks like Porter's Five Forces. These forces dictate pricing, supply availability, and value delivery. Reference: CIPS Level 4, Market Analysis and Competitive Forces.

NEW QUESTION # 22
A procurement manager consolidates the company expense on printing and office supplies into broader range of spend category. Other senior managers are concerned that it may increase company's spend. Is that concern justified?

A. No, because the consolidation will help the supplier to shorten deliver time.
B. No, because the broader range of spend category can increase the value of the contract and the buyer may get volume discount
C. Yes, because the suppliers can't provide a broader range of products and they will fail to deliver
D. Yes, because the consolidation may create a large contract that costs more than placing each purchase order

Answer: B

Explanation:
Printing and office supplies are often considered as low risk, low value items. Consolidation low value, low risk items into a broader range will dramatically increases the value of the contract and leverage of buying organisation in the negotiation.

NEW QUESTION # 23
At which stage of through-life contract management, procurement team needs to identify sources of risk and the ways to mitigate them?

A. Supplier relationship stage
B. Tendering stage
C. Specification stage
D. Contracting stage

Answer: A

Explanation:
Risk management has become incredibly complex, especially for capital purchase which requires through-life contract. Any source of risks should be identified and closely managed from the specification stage.
There should be sufficient information in the specification to minimise risks later in the through-life contract.
Here is something to consider:
- Make sure the parties to the contract are clearly identified. This is particularly important if a prime contractor is being used. Allow them to subcontract elements of the specification.
- Clearly identify any testing and quality assurance procedures and who will perform them.
- Document every important aspect of the specification including a project plan
- Include a reasonable limitation of liability clause in the contract and reference it in the specifica-tion
- Identify any guarantees that are needed
- Be clear on what insurance will and will not cover
- Make sure there is clear audit trail of any changes to the specification together with approvals LO 3, AC 3.2

NEW QUESTION # 24
Which of the following is the disadvantage of embedding standards in a specification?

A. Embedding standards into specification requires enormous time and effort
B. Standards are too flexible and may cause ambiguity in the specification
C. Standards do not improving buyer's bargaining power
D. Standards are too static and discourage innovation

Answer: D

Explanation:
"Standards are often produced by professional bodies (maybe national or international bodies). Standards tend to be stable for a period of time, therefore, they are likely to be static and discourage innovation."

NEW QUESTION # 25
......

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L4M2 Exam Exam Passing Score & 100% Pass-Rate Vce L4M2 Exam Pass Success

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CIPS Defining Business Needs Sample Questions (Q20-Q25):

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