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CIPS L5M2 Dumps

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Total 120 questions
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Managing Supply Chain Risk Questions and Answers

Question 1

Which of the following risks would likely be tolerated by a company?

Options:

A.

no risks should be tolerated

B.

opportunities which are low risk and low impact

C.

opportunities which are low risk and high impact

D.

opportunities which are high risk and low impact

Question 2

Which of the following is not a benefit of having a contingency plan?

Options:

A.

competitive advantage

B.

increased staff morale

C.

greater resilience to force majeure events

D.

increased profits

Question 3

Which of the following will you put into box 1?

Options:

A.

tolerate

B.

transfer

C.

treat

D.

terminate

Question 4

Which of the following will you put into box 2?

Options:

A.

strategic

B.

intellectual property

C.

environment

D.

operational

Question 5

Which of the following statements about binomial distribution are true? Select THREE

Options:

A.

there are only two outcomes

B.

they are based on continuous events

C.

there is only one outcome per event

D.

each trial has the same probability

E.

the events of one trial will impact on the next one

Question 6

The UK Companies (Miscellaneous Reporting) Regulations 2018 states that organisations with more than 250 employees must do what?

Options:

A.

Publish an Anti-Slavery Policy

B.

Provide an annual financial statement

C.

Demonstrate how they abide by Environmental practices

D.

Publish a summary of how directors have engaged with employees

Question 7

Which of the following are key areas of ISO 26000 Social Responsibility? Select THREE.

Options:

A.

organisational governance

B.

quality management

C.

human rights

D.

consumer issues

E.

efficient systems

Question 8

Robot Ltd manufactures high end robots. A lot of value is tied up in the stock that it holds within its warehouse as each robot is worth several thousand pounds. The company has decided to enlist the services of a third party provider for disaster recovery, to help them shape a plan for if something were to happen to the stock, such as a flood. Is this the correct thing for Robot Ltd to do?

Options:

A.

yes- a 3rd party can provide broader experience and expertise

B.

yes- a third party is a cheap option for disaster recovery planning

C.

no- Robot Ltd should create a cross-functional team to draw up the plan as internal stakeholders will understand the risks better than a 3rd party

D.

no - a 3rd party can only help in the solution stage of disaster recovery, not the planning stage

Question 9

Who takes ownership for a Business Continuity Plan?

Options:

A.

the top level of an organisation

B.

the department head

C.

the risk champion of the company

D.

the individuals who identify the risks

Question 10

ISO 31000 is built on 11 guiding principles. Identify THREE of these.

Options:

A.

Risk management can create value

B.

Risk Management should take into account company culture

C.

Risk Management should address uncertainty faced by the organisation

D.

Risk Management should be done annually

E.

Risk Management should include only the Departments affected by risk

Question 11

Which organisation created the Decent Work Agenda?

Options:

A.

UN

B.

ISO

C.

ILO

D.

ETI

Question 12

Which of the following will you put into box 3?

Options:

A.

hazard

B.

financial

C.

strategic

(Correct)

D.

operational

Question 13

Portobello is an Italian manufacturing company that produces canned tomato sauces. It imports a lot of its tomatoes from Latin America as there isn't the capacity to grow that many tomatoes in Italy. One of the major risks posing Portobello is that the tomatoes must be transported via cargo ship, and there is a risk that the ship may sink, or be delayed by bad weather. Portobello has taken out insurance to cover the cost of the tomatoes should this happen. What technique has Portobello used?

Options:

A.

tolerate

B.

treat

C.

transfer

D.

terminate

Question 14

Which of the following are benefits of ISO28000? Select TWO.

Options:

A.

competitive advantage

B.

cost saving

C.

increased market share

D.

decreased legal costs

Question 15

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?

Options:

A.

yes- the insurance will cover all medical expenses as the accident occurred during his working hours

B.

yes- the insurance can be used as the accident occurred on the company's premises

C.

no- the insurance would not cover the cost of surgery, only for lost wages if he is unable to work

D.

no- this is not the purpose of insurance

Question 16

In probability theory, the chances of a coin landing on heads would be expressed in what way?

Options:

A.

50%

B.

one half

C.

0.5

D.

50-50

Question 17

Which of the following is an example of force majeure?

Options:

A.

The supplier delivers materials late due to a breakdown

B.

The supplier asks for an uplift in prices

C.

The supplier is under criminal investigation for fraud

D.

The supplier's factory is hit by a hurricane

Question 18

Dave is a procurement manager for a chocolate factory who is running a tender to source cocoa from a new supplier. The tender is a huge opportunity for suppliers and the contract would be worth millions of pounds. Dave has passed some information about the tender to one of the bidders in exchange for a free holiday to Barbados. Which of the following types of fraud has Dave committed?

Options:

A.

holiday fraud

B.

accepting a kick-back

C.

counterfeiting

D.

bribery

Page: 1 / 5
Total 120 questions
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