CIPS L4M2 LATEST STUDY QUESTIONS | ACTUAL L4M2 TEST

CIPS L4M2 Latest Study Questions | Actual L4M2 Test

CIPS L4M2 Latest Study Questions | Actual L4M2 Test

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2025 CIPS L4M2: Useful Defining Business Needs Latest Study Questions

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CIPS Defining Business Needs Sample Questions (Q37-Q42):

NEW QUESTION # 37
Which of the following factors might prompt an organisation to procure an alternative product? Select THREE that apply:

  • A. Brand loyalty
  • B. Buying organisation's propensities to change
  • C. Easy access to distribution channel
  • D. Threat of retaliation
  • E. Relative value to money between options
  • F. Switching cost

Answer: B,E,F

Explanation:
According to Michael Porter, the threat of substitution, is a function of three factors:
* The relative value/ price of a substitute compared to an industry's product
* The cost of switching to the substitute
* The buyer's propensity to switch
(Porter, Michael E.. Competitive Advantage: Creating and Sustaining Superior Performance (p. 278). Free Press. Kindle Edition.) Reference:
LO 2, AC 2.2


NEW QUESTION # 38
Which of the following is a challenge of making a business case for straight re-buys?

  • A. Terms and conditions
  • B. Identifying suitable suppliers
  • C. Research of procurement process
  • D. Effective inventory control

Answer: D

Explanation:
For straight re-buy, the specifications for the products are known. Generally, there will be an existing contract with supplier in place. The business need is challenged annually, only on the annual demand. So effective inventory control will help procurement successfully manage straight re-buy.


NEW QUESTION # 39
Total cost of ownership of a solar panel is $5,000 and it is expected that the panel will make a sav-ing of
$1,000 each year. So it would take 5 years for the benefits to repay the investment. Therefore, the firm plans to keep the solar panel for at least 5 years. Is payback period calculation right for making the business decision?

  • A. No, because payback period doesn't take into account price fluctuations
  • B. Yes, because payback period shows how long the firm recovers the investment
  • C. Yes, because it takes everything into account
  • D. No, because payback period can be only used to calculate the depreciation of a fixed asset

Answer: B

Explanation:
There are many factors that need to be considered when making a business decision. Costs and benefits are among those factor. To estimate the length of time in which an investment reaches a break-even point, businesses often use the payback period. The payback period refers to the amount of time it takes to recover the cost of an investment.
'Yes, because it takes everything into account': It ignores the time value of money (TVM), unlike other methods of capital budgeting such as net present value (NPV), internal rate of return (IRR), and discounted cash flow.
'No, because payback period doesn't take into account price fluctuations': Though it doesn't take into account price fluctuation, payback period is still useful in financial and capital budgeting.
'No, because payback period can be only used to calculate the depreciation of a fixed asset': Payback period only calculates the length of time in which the benefits of a charge repay its costs.
LO 1, AC 1.3


NEW QUESTION # 40
Which of the following events would increase the number of suppliers in a particular market?

  • A. High and increasing levels of investment required to enter the market
  • B. Introduction of minimum wage regulations
  • C. Requirement for all companies to have 10,000 or more employees
  • D. De-regulation of a previously government-run industry

Answer: D

Explanation:
Detailed Explanation:De-regulation removes barriers to entry, encouraging new suppliers to enter the market. Other factors, like high investment or stringent requirements, limit supplier participation. Reference:
CIPS Level 4, Market Entry and Supply Chain Factors.


NEW QUESTION # 41
Which of the following are the fair and reasonable comparators in price analysis? Select TWO that apply:

  • A. Cost driver
  • B. Strike price
  • C. Pricing formula
  • D. Price indices
  • E. Competitive bidding

Answer: C,D

Explanation:
Price Analysis is the process of deciding if the asking price for a product or service is fair and rea-sonable, without examining the specific cost and profit calculations the vendor used in arriving at the price. It is basically a process of comparing the price with known indicators of reasonableness. When adequate price competition does not exist, some other form of analysis is required. Some reasons that could affect adequate price competition are: specifications are not definitive, tolerances are restrictive, or production capacity limits those eligible to bid.
Examples of other forms of price analysis information include:
* Analysis of previous prices paid
* Comparison of vendor's price with the in-house estimate
* Comparison of quotations or published price lists from multiple vendors
* Comparisons with government agencies (such as GSA in the US) published prices A strike price is the set price at which a derivative contract can be bought or sold when it is exercised. For call options, the strike price is where the security can be bought by the option holder; for put options, the strike price is the price at which the security can be sold. Strike price is also known as the exercise price.
A cost driver is the direct cause of a cost and its effect is on the total cost incurred. For example, if you are to determine the amount of electricity consumed in a particular period, the number of units consumed determines the total bill for electricity. In such a scenario, the number of units of electricity consumed is a cost driver.


NEW QUESTION # 42
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