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CIPS L5M2 Exam Questions
- Topic 1: Managing Teams and Individuals: This section covers how to evaluate the different schools of thought and the reasoning behind the variety of approaches to the management of themselves, individuals, and groups or teams within organizations.
- Topic 2: Managing Supply Chain Risk: This section covers a variety of tools and techniques to establish the level of risk in supply chains and to recommend and apply ways of avoiding, mitigating, or managing risk.
- Topic 3: Managing Contractual Risk: This section evaluates the legal and process issues relating to the formation of contracts and the legal implications of contractual non-conformance. Candidates are tested for the impacts of breach of contract.
- Topic 4: Advanced Contract and Financial Management: This section deals with developing measures to ensure and improve contract performance as they assess the concept and use of strategic sourcing.
- Topic 5: Managing Ethical Procurement and Supply: This section explains the impact of and initiatives to improve, sustainability and the managerial approaches to promote ethical practices in procurement and supply.
Free CIPS L5M2 Exam Actual Questions
Note: Premium Questions for L5M2 were last updated On Dec. 08, 2024 (see below)
Which of the following will you put into box 5?
The correct answers are as follows:
CSR= Corporate Social Responsibility
Zara is a procurement manager who is thinking about working with a new supplier to source buttons for her clothes manufacturing business. Her manager has asked her to do some due diligence on the supplier's financial stability. What should she do?
She should use a credit rating agency for this. She should not do this herself as she won't have access to accurate information like an agency will. The supplier may not have been truthful in their tender. For information on Credit Rating Agencies see p.79
Which of the following will you put into box 1?
The correct answers are as follows:
Nothing can be done to change this risk (you can't stop an earthquake from happening), so you therefore need to transfer the risk to another party, or include for this within a contract.
Fudgylicious Inc is a manufacturer of confectionary based in the United Kingdom. In one of its factories an employee has an accident during his shift which resulted in him breaking a leg and requiring surgery. Will the employer's Professional Indemnity insurance cover the cost of the operation?
The correct answer is 'no-this is not the purpose of insurance'. The question asks if Professional Indemnity Insurance can be claimed on for this- no it can't- that's not its purpose. It would be Employer's Liability insurance which could be claimed on. This question tests your understanding of the different types of insurance. There is a very similar question in the exam- so remember accidents at work are claimed against Employer's Liability insurance NOT Professional Indemnity insurance - see p.96 for more information on different types of insurance
The legal principle of insurable interest means which of the following statements are TRUE? Select TWO.
Insurable Interest means that it is not possible to insure someone else's factory. The study guide explains that you can only take out insurance where you have at least partial ownership of that risk. Therefore option 3 is also correct as you have a partial risk if something were to happen to your supplier's factory. You can take out CBI insurance for this. see p.100-101 for further s of Legal Principles of Insurance
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