Free CIPS L3M1 Exam Dumps Questions & Answers

The idea / practice that some users / internal customers will spend organisational funds without in-volving procurement professionals when required to do so by organisational rules, is called:

• A.  Maverick buying
• B.  Off balance sheet procurement
• C.  Merchandise buying
• D.  Nonconformist procurement

Which of the following would not normally be seen as part of public sector procurement?

• A.  Personal bonus payments for procurement staff, linked to savings made
• B.  Pursuit of equal opportunities policies, internally and externally
• C.  Achieving defined service levels
• D.  Personal financial rewards from suppliers for buyers in return for awarding contracts
• E.  An emphasis on the use of the competitive principle

A 'mixed economy' is:

• A.  A market economy
• B.  One which is confused
• C.  A centrally-planned economy
• D.  One in which private and public sectors operate together

'The optimum combination of whole life costs and quality' is one definition of:

• A.  Quality circles
• B.  Life cycle costing
• C.  Contractual agreement (in English law)
• D.  Value for money

'Cost transparency' is the notion that:

• A.  The buyer will reveal its' actual costs to the seller
• B.  Cost is not an issue
• C.  The seller will reveal its' actual costs to the buyer
• D.  Both sides will reveal their costs to each other