Exam L4M2 Review Pass Certify | Reliable L4M2 Reliable Test Braindumps: Defining Business Needs
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CIPS Defining Business Needs Sample Questions (Q205-Q210):
NEW QUESTION # 205
Ymira is asked to develop the specification for water purifier which will be used at the company headquarter. She believes that the specification can be drafted based on the information available on the Internet, such as blog posts, comparison websites, how-to websites, life hacks, etc. Which of the following traits will make the information more useful?
Answer: A,C
Explanation:
Internet is a great source of information, however, information from the Internet needs to be tested for accuracy and reliability. To check the information from the Internet, a buyer can use the criteria with acronym SAMOA:
Source (of the information)
Audience (intended as the recipient of the information)
Methodology (used to collect and analyse the data)
Objectivity (of the information - there should be no bias)
Accuracy
Reference:
LO 3, AC 3.1
NEW QUESTION # 206
Which of the following always impact negatively on a company's cash flow? Select TWO that ap-ply
Answer: B,C
Explanation:
To answer this question, candidates are required to remember the cash flow cycle and cost entries as well as the impact of their timing on a business.
Diagram Description automatically generated
Source: https://cfoperspective.com/free-your-cash-trapped-in-the-cash-conversion-cycle/ Shorter payment term and more inventory are likely to have negative impact on the cash flow be-cause the buyer has to pay sooner and greater.
"Customers agree to pay immediately" will increase the organisation's bank account sooner.
Depreciation has no impact on cash flow as it is only listed in Profit and Loss statement.
Increasing revenue may have negative or positive impact on cash flow, depending on the real situation.
Reference: CIPS study guide page 54
LO 1, AC 1.4
NEW QUESTION # 207
Rachel has issued a specification for spare parts out to global suppliers. Rachel has asked for these parts to carry a standard from the International Organisation for Standardisation. Is Rachel right to do this?
Answer: C
Explanation:
Detailed Explanation:ISO standards are internationally recognised benchmarks that ensure quality and safety, making them applicable across various industries, including spare parts procurement. This approach improves reliability and supplier compliance. Reference: CIPS Level 4, Standardisation in Procurement.
NEW QUESTION # 208
A company is planning the procurement of an IT system and wants to agree a through-life contract with the supplier to ensure ongoing system support. The first step in producing that specification should be to:
Answer: C
Explanation:
Writing a high-quality specification is very crucial in every purchase. In through-life management, it is even more important since the assets often have very high value. Defining user requirement is the first step to write a specification. Without doing this right, many problems may arise in later stages.
Reference: CIPS study guide page 132
LO 3, AC 3.2
NEW QUESTION # 209
Which of these causes variances in budgets?
Quantity discounts
Substitute goods
Loan repayments
Corporation tax
Answer: C
Explanation:
Detailed Explanation:
Quantity discounts: Changes in order quantities can lead to cost savings, impacting budget forecasts.
Substitute goods: Using alternative products can alter planned expenses, causing budget deviations.Loan repayments and taxes are fixed financial obligations and do not directly impact procurement budgeting.
Reference: CIPS Level 4, Cost Management.
NEW QUESTION # 210
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