2024 100% Free L3M2 Daily Practice Exam With 92 Questions
L3M2 exam torrent CIPS study guide
NEW QUESTION # 21
Which ISO standard describes quality as 'the degree to which a set of inherent characteristics fulfils requirements'?
- A. ISO 9000
- B. ISO 5750
- C. ISO 19000
- D. ISO 14001
Answer: A
Explanation:
The correct answer is ISO 9000 - this was based originally on the British Standard BS 5750.
ISO 14,001 is an environmental management standard.
ISO 19,000 is a management systems standard.
NEW QUESTION # 22
A product of less-than-satisfactory quality might be said to have a:
- A. Reject
- B. Defect
- C. Effect
- D. Affect
Answer: B
Explanation:
The product has a defect; it might be rejected, then it would be a reject.
The effect of this might be that it would affect profitability.
NEW QUESTION # 23
Accurate specification of requirements along with suitable-chosen quality standards is most likely to influence which of the five Rights?
- A. Time
- B. Quality
- C. Price
- D. Place
- E. Quantity
Answer: B
Explanation:
Quality.
Specification is fundamental to receiving the right quality.
Standards can be seen as a form of specification intended for recurrent use (Lysons)
NEW QUESTION # 24
Finding new potential suppliers using the internet might be known as:
- A. e-souring
- B. e-auction
- C. e-sourcing
- D. e-scouring
Answer: C
Explanation:
E-sourcing.
Try to be clear on the difference between e-sourcing and e-auctions.
Other related e-terms include e-contracting, e-procurement, and possibly more.
NEW QUESTION # 25
In a manufacturing business, there are two important materials budgets. One is called 'materials pur-chases budget' and the other is called 'materials XXX budget'. What is the missing word?
- A. Expenditure
- B. Sales
- C. Returns
- D. Usage
Answer: D
Explanation:
It's the 'materials usage budget'.
This budget would help monitor whether the usage of materials was in line with forecast (budget), or whether there was a variance.
NEW QUESTION # 26
'Efficiency is measured in terms of a quantity of ...'
- A. Resource per unit of input
- B. Throughput
- C. Output per unit of input resource
- D. Input per unit of output resource
Answer: D
Explanation:
Output per unit of input resource.
Efficiency is, in a sense, seeking to get as much out of a system, while putting in as little as possible.
NEW QUESTION # 27
A specification which focuses on the outputs of a requirement is called:
- A. Conformance
- B. Non-conformance
- C. Performance
- D. Non-performance
Answer: C
Explanation:
A performance specification concentrates on the outputs of whatever it is you're buying.
NEW QUESTION # 28
'Something which carries on over time, going round in repetitive circles', is called a:
- A. Process map
- B. Cycle
- C. Scheme
- D. Circuit
Answer: B
Explanation:
It's a cycle.
This is relevant to the measurement of cycle times, as featured in your syllabus.
NEW QUESTION # 29
Van Weele wrote that 'quality is the degree in which XXXX requirements are met. We speak of a quality product or quality service when supplier and XXXX agree on requirements and those re-quirements are met'.
- A. Specifier
- B. Replace XXXX.
- C. Designer
- D. Manufacturer
- E. Customer
Answer: E
Explanation:
Quality, like most things in business, is ultimately about the customer.
NEW QUESTION # 30
The Profex textbook for this subject, states that 'specifications are said to be 'the heart of the con-tract'. The book then goes on to state that goods supplied must be 'fit for...'
- A. Purpose
- B. Usage
- C. A King
- D. The requirement
Answer: A
Explanation:
'Fit for purpose'.
This expression is used as / in definitions of quality, as well as being included in parts of UK legisla-tion (Sale of Goods Act).
NEW QUESTION # 31
Key Performance Indicators could be said to be:
- A. START
- B. SWART
- C. SHARP
- D. SMART
Answer: D
Explanation:
SMART
Specific, measurable, achievable, realistic, timebound or similar.
NEW QUESTION # 32
'From an accounting perspective, added value is total XXXXXX minus total costs of all activities'.
Which word is missing?
- A. Expenditure
- B. Revenue
- C. Costs
- D. Savings
Answer: B
Explanation:
Revenue.
Added value is really measured through the customer's eyes. I have a choice of six coffee shops from which to buy my morning coffee. One has an attractive mix of cleanliness, tasty coffee, effi-cient and friendly service - more than the others. This appealing all-round mix 'adds value' as far as I am concerned and I give it daily repeat business, visiting the others only occasionally. That added value offering generates the repeat business, and helps make the coffee shop more profitable.
NEW QUESTION # 33
The objective of value engineering has been described as:
- A. Doing more with more
- B. Doing more with less
- C. Doing more with the same
- D. Doing more with your time
Answer: B
Explanation:
Value engineering, like value analysis, but at the design stage, seeks to create at least as great an output, but with fewer components / inputs.
NEW QUESTION # 34
Disclose, distance, delegate, ...?
- A. Disassociate
- B. Discriminate
- C. Discombobulate
- D. Dislocate
Answer: A
Explanation:
Disassociate is the correct answer.
This is the 4 D's model of how to deal with a conflict of interest.
'Discombobulate' means to disconcert or confuse, as if you didn't know.
NEW QUESTION # 35
'I'm not really well up on ethics within organisations, especially within procurement. Where can I find some really good quality up-to-date information about ethics?' Choose one.
- A. A recently-elected local politician
- B. A good second-hand bookshop
- C. CIPS website
- D. Anni, who retired from our organisation's social media department four years ago
Answer: C
Explanation:
CIPS is keenly interested in procurement ethics, and you can find a wealth of information on the CIPS website as well as other CIPS publications, such as Supply Management magazine.
CIPS members are also encouraged to undertake the ethical training and test, also available online via the CIPS website.
NEW QUESTION # 36
We can talk about the 'make, do or XXXX decision'. XXXX represents:
- A. Build
- B. Buy
- C. Lease
- D. Procure
Answer: B
Explanation:
Make, do or buy decision.
Historically 'make or buy'. Now up dated to take account of services procurement ie 'should we do it ourselves?'
NEW QUESTION # 37
Regarding quality management, how many Sigma?
- A. Four
- B. Six
- C. Seven
- D. Five
Answer: B
Explanation:
The answer is 'six'.
Six Sigma is a statistical approach to quality management.
NEW QUESTION # 38
Cause and effect diagrams, also known as Ishikawa diagrams, are sometimes also known, because of their shape, as:
- A. Wishbone
- B. Funny bone
- C. Fishbone
- D. Tailbone
Answer: C
Explanation:
Fishbone diagram.
NEW QUESTION # 39
OTIF stands for:
- A. On time and in our facility
- B. Order transmitted in full
- C. Order transmitted and in the supplier's factory
- D. On time and in full
Answer: D
Explanation:
On time and in full.
OTIF is a reference to an order placed with a supplier having been delivered in the right quantity and on time. Note that this acronym makes no reference to quality.
NEW QUESTION # 40
Restricted or limited tendering is also sometimes known as:
- A. Selective
- B. Invective
- C. Elective
- D. Effective
Answer: A
Explanation:
Selective, restricted and limited are all essentially the same idea: not open tendering, but using some kind of prequalification approach.
NEW QUESTION # 41
The abbreviation 'SOP' stands for:
- A. Standard operating procedure
- B. Standard operations process
- C. System operating perfectly
- D. Standard office procedure
Answer: A
Explanation:
Standard operating procedure.
A set of step-by-step instructions to direct employees how to perform routine operations (Profex Publishing).
NEW QUESTION # 42
The act of secretly and illegally stealing funds which have been placed in the individual's trust, or money belonging to a person's employer:
- A. Extortion
- B. Bribery
- C. Embezzlement
- D. Fraud
Answer: C
Explanation:
This is a definition of embezzlement.
The other terms shown as possible answers are also part of the syllabus for this subject.
NEW QUESTION # 43
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