L5M5 STUDY GUIDE & L5M5 GUIDE TORRENT & L5M5 PRACTICE TEST

L5M5 Study Guide & L5M5 Guide Torrent & L5M5 Practice Test

L5M5 Study Guide & L5M5 Guide Torrent & L5M5 Practice Test

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q61-Q66):

NEW QUESTION # 61
Which of the following scenarios best illustrate instances of bribery?

  • A. Upon landing at Dhaka Airport, the customs official informs that a 'standard processing fee' of $20 is required to allow entry into the country upon which a receipt for payment will be given
  • B. A buying organization excludes certain bidders from a high-value tender on the basis that these bidders have not detailed what environmental protection measures they would take
  • C. During the audit of a luxury goods distributor, the auditor was asked to take a pen home as a gift. After checking organizational policy, the auditor accepted the gift
  • D. A supplier has just sent the procurement official her invoice for approval. Included in her expenses is a large round sum figure for 'client entertainment' without any price breakdown

Answer: D

Explanation:
Choice B- 'Commercial organisations' commit an offence if they, or any person associated with them, bribes another person intending to obtain or retain business or a business advantage. The purpose of the expenditure is key, not necessarily the amount or what is being purchased. The extent to which the expenditure is incidental is also a factor. An itemised invoice providing a breakdown of the expense will be useful, along with further enquiries of the supplier. As there is no price breakdown, it is a valid reason to suspect the expense and is a form of bribe.
Incorrect answer:
Choice A- It is an offence to bribe another person or to be bribed. As per Bribery Act 2010, failing to prevent a bribe being paid to obtain or retain business or a business advantage is an offence. In this situation, the policy regarding acceptance of gifts was ahered to and is not bribery.
Choice C- Bribing a foreign official is an offence under the Bribery Act 2010. It is important to determine whether the fee is genuine or not; it should be accompanied with official notices and a receipt for payment. As the official informs it is a "standard processing fee" with documentary eveidence like a money receipt, it is not a case of bribery.
Choice D- As the requirement for the buying organisation was to detail environtmetal protection measures for a tender, the buying organisation has the right to reject bidders on this basis. This is not a form of bribery in any way.
Reference:
LO-1.1; Page 47-48; Issues impacting ethical and sustainable procurement and supply: modern slavery, bribery, corruption, fraud and human rights infringements


NEW QUESTION # 62
Westecs Inc., a leading consumer products manufacturer, has made significant investments in sustainable practices across its supply chains and in promotional advertising. Which of the following is the most likely benefit of this investment?

  • A. Reduced indirect costs
  • B. Improved brand image
  • C. Unsatisfied shareholders
  • D. Increased number of competitors

Answer: B

Explanation:
Choice B- Investing in sustainable practices and promoting them effectively can enhance Westecs Inc.'s brand image. Consumers increasingly prefer brands that demonstrate a commitment to sustainability, which can lead to increased customer loyalty and market differentiation.
Incorrect answer:
Choice A- There is an increased spending in indirect costs such as ESG initiatives which is one of the risk of behaving sustainably thus is not a reward.
Choice C- This option is incorrect. Shareholders are typically more satisfied when a company invests in sustainability, as it often aligns with long-term profitability and risk management. However, if the investments are poorly managed or do not lead to expected returns, there could be dissatisfaction, but that is not a likely immediate reward.
Choice D- This option is incorrect. While investing in sustainability may attract new competitors to the market, it is not a direct reward of the investment. Instead, companies might find themselves in a more competitive landscape due to rising consumer demand for sustainable products, but this is not an immediate reward.
Reference:
LO-1.1; Page 28; The risks and rewards of adopting ESG considerations in securing ethical and sustainable procurement and supply arrangements


NEW QUESTION # 63
In an effort to enhance sustainability and ethical business practices, four companies have embedded Environmental, Social, and Governance (ESG) performance measures into their supplier agreements. Each organization has identified specific ESG challenges and established contractual requirements that suppliers must meet to align with corporate sustainability objectives.
Below is an overview of the ESG priorities for each company and the corresponding contractual terms:
Company 1:
This company has pledged to cut its carbon footprint by 40% by 2030. To achieve this target, it mandates that its suppliers actively contribute to emission reduction efforts. Suppliers are required to meet defined, measurable benchmarks related to carbon emissions and submit periodic reports detailing their progress on sustainability initiatives.
Company 2:
With a strong emphasis on fostering fairness and inclusivity, this company requires suppliers to align their payment structures and financial strategies with its commitment to equity. Suppliers must implement fair compensation policies, ensure timely salary disbursements via banking channels, and adopt ethical pricing structures that support inclusive hiring practices, particularly for underrepresented groups.
Company 3
Operating in industries prone to unethical practices, this company enforces stringent anti-corruption policies and financial transparency requirements for its suppliers. Suppliers must copyright rigorous governance standards, establish transparent reporting mechanisms, and comply with all anti-corruption regulations to ensure ethical business operations.
Company 4
This company is committed to making a meaningful impact on the communities in which its suppliers operate. As part of its contractual obligations, suppliers must actively participate in local initiatives that drive social and economic development. This includes contributing to community projects, generating employment opportunities, and supporting social welfare programs.
The four companies must establish contractual terms aligned with their respective ESG considerations, including a Community Benefit Clause, Key Performance Indicators (KPIs), Commercial Clause, and Governance Clause.
Match Column A with Column B from the following table:

  • A. Equality, Diversity, and Inclusion (EDI): Commercial Clause
  • B. Carbon Emissions: KPI as Performance Measure

Answer: A,B

Explanation:

Company 1: Carbon Emissions + KPI as a Performance Measure To achieve its goal of reducing carbon emissions, the company mandates that suppliers meet specific sustainability targets. By incorporating Key Performance Indicators (KPIs) into contracts, progress becomes measurable, ensuring accountability and continuous improvement in environmental performance. Company 2: Equality, Diversity, and Inclusion (EDI) + Commercial Clause The company's commitment to inclusivity is reinforced through a Commercial Clause, requiring suppliers to align financial practices with ethical standards. This includes fair payment structures, equitable pricing models, and hiring policies that support underrepresented groups, ensuring diversity and inclusion within the supply chain. Company 3: Governance + Governance Clause Operating in a high-risk industry, the company prioritizes governance and transparency by enforcing strict anti-corruption policies. The Governance Clause mandates adherence to ethical business practices, requiring suppliers to implement robust compliance frameworks, transparent financial reporting, and regulatory alignment. Company 4: Social Value + Community Benefit Clause The company's dedication to creating positive community impact is embedded within a Community Benefit Clause. This contractual requirement ensures that suppliers actively contribute to local social and economic development, participate in community projects, and provide employment opportunities, fostering long-term sustainability in the regions they operate.


NEW QUESTION # 64
Mr. Jerry, a procurement professional at a multinational company, notices unusually low labor rates within the supply chain. Which of the following should be his primary concern?

  • A. Fraudulent activity
  • B. Corruption
  • C. Bribe
  • D. Modern Slavery

Answer: D

Explanation:
Choice A- A procurement professional can evaluate the risk of slavery in their supply chain by considering whether buyers negotiate excessively low prices. If suppliers are pressured to reduce costs, it can negatively impact the finances of businesses involved in raw material production, increasing the likelihood of forced labor. Therefore, Choice A is the correct answer.
Choice B- Corruption is the dishonest or fraudulent behavior of people in power. This could be in the form of a producer bribing an official to get access to more farmland. It does not relate to low labor rates.
Choice C- Bribery is the act of offering money or something valuable to another person to persuade them to do something for you. Therefore is not concerned with labor rates.
Choice D- Fraud is the criminal deception that is designed to give a person or business a financial or personal benefit, ranging from bribes offered during supplier selection to forged checks during financing to fraudulent payments or payment guarantees. This option is not associated with low labor raters thus is not the answer.
Reference:
LO-1.1; Page 45; Issues impacting ethical and sustainable procurement and supply: modern slavery, bribery, corruption, fraud and human rights infringements


NEW QUESTION # 65
Fresh Delight, a natural fruit juice company, sources fruit from Citrus Co. under a contract with a "time of the essence" and "retention of title" clause. Citrus Co. delivers fruit every Monday, but Fresh Delight has failed to pay for the last two deliveries. Claiming ownership under the retention of title clause, Citrus Co. attempts to reclaim the most recent delivery. Does Citrus Co. have a valid legal claim to retrieve the goods despite having delivered them?

  • A. No - if the delivery was made on time, it belongs to Fresh Delight
  • B. Yes - the product still belongs to Citrus Co
  • C. Yes - the product can be reclaimed under any circumstances
  • D. No - if Fresh Delight signed for the delivery, Citrus Co. has no right to reclaim it

Answer: B

Explanation:
Choice A- The retention of title clause in the contract means Citrus Co. retains ownership of the goods until Fresh Delight has fully paid for them. Even though the goods were delivered, the failure to pay gives Citrus Co. the right to reclaim them. Ownership (title) does not pass to Fresh Delight until payment is made. Correct answer.
Incorrect answer:
Choice B- While the retention of title clause allows Citrus Co. to reclaim the goods in this case, this right is not absolute. The clause must align with relevant legal frameworks, such as insolvency laws, which may limit Citrus Co.'s ability to reclaim goods in certain situations. Thus, goods cannot always be reclaimed "under any circumstances." Choice C- Signing for delivery does not override a retention of title clause. Even if Fresh Delight accepted and signed for the delivery, the ownership of the goods remains with Citrus Co. until payment is received.
Choice D- Timely delivery has no bearing on the ownership of the goods when a retention of title clause is in place. Ownership is tied to the payment, not the delivery schedule. Hence, Citrus Co. can still reclaim the goods if payment hasn't been made.
Reference:
LO-2.2; Page 190; Monitoring Contract Performance


NEW QUESTION # 66
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