CIPS L3M1 practice materials Questions Answers

Exam Code:
L3M1
Exam Name:
Procurement and Supply Environments Exam
Last Update:
Jun 01,2026

90 Questions Answers Verified by Experts!


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CIPS L3M1 Questions for Level 3 Advanced Certificate in Procurement and Supply Operations Certification Exam 2026

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Page: 1 / 18
Total Questions: 90

Questions & Answers PDF

• Question 1

  

  On a diagram of the Product Life Cycle, the x-axis shows:

  • Growth
  • Time
  • Decline
  • Profit

  Reveal Answer Answer: B Next Question

• Question 2

  

  ‘The optimum combination of whole life costs and quality’ is one definition of:

  • Quality circles
  • Life cycle costing
  • Contractual agreement (in English law)
  • Value for money

  Reveal Answer Answer: D Next Question

• Question 3

  

  ‘Cost transparency’ is the notion that:

  • The buyer will reveal its’ actual costs to the seller
  • Both sides will reveal their costs to each other
  • The seller will reveal its’ actual costs to the buyer
  • Cost is not an issue

  Reveal Answer Answer: B Next Question

• Question 4

  

  Which of the following are core stakeholders of a private sector organisation? Select all that apply.

  • The local authority / government where the headquarters building is located.
  • Customers
  • The insurers of the headquarters building
  • Shareholders

  Reveal Answer Answer: B, ,D Next Question

• Question 5

  

  The Kyoto Agreement is about:

  • Shipping freight rates
  • Climate change
  • Whale protection
  • Fishing rights

  Reveal Answer Answer: B Next Question

• Question 6

  

  A 'genuine pre-estimate of loss' describes:

  • A quantum meruit award
  • Liquidated damages
  • Unliquidated damages
  • A penalty clause

  Reveal Answer Answer: B Next Question

• Question 7

  

  Which of the following are normally not a source of funds for a third sector organisation?

  • Proceeds from sales of tobacco products
  • Proceeds from gambling (Correct)
  • Grants from taxpayers
  • Charitable contributions
  • Merchandise sales revenue

  Reveal Answer Answer: A Next Question

• Question 8

  

  The 'five forces' model is also known as an 'Industry Structure Analysis'.True or false?

  • True
  • False

  Reveal Answer Answer: A Next Question

• Question 9

  

  Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), which of the following are seen as threats (select all that apply):

  • Substitutes
  • Buyers
  • New entrants
  • Suppliers

  Reveal Answer Answer: A, ,C Next Question

• Question 10

  

  Fiscal policy deals with:

  • Government decisions and actions regarding the number of staff members employed in the government Treasury
  • Government decisions and actions regarding the level of interest rates and supply of money in the economy
  • Government decisions and actions regarding the balance between taxation revenue and public expenditure
  • Government decisions and actions regarding exchange rates and unemployment in the economy

  Reveal Answer Answer: C Next Question

Page: 1 / 18
Total Questions: 90

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