CIPS L4M2 practice materials Questions Answers

Exam Code:
L4M2
Exam Name:
Defining Business Needs Exam
Last Update:
Jun 01,2026

145 Questions Answers Verified by Experts!


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CIPS L4M2 Questions for Level 4 Diploma in Procurement and Supply Certification Exam 2026

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Page: 1 / 29
Total Questions: 145

Questions & Answers PDF

• Question 1

  

  GE has developed TurboProp engine that is made from over 850 metal parts. These parts are sourced from many suppliers. Value of spend on these parts make up 73% of total spend. Any delay in receiving a part will cause a bottleneck around the production of the engine. Which of the following should be the best course of action of GE's CPO?

  • Drive down prices by using market competition
  • Increase production
  • Part standardisation
  • Reduce delivery cost

  Reveal Answer Answer: C Next Question

• Question 2

  

  Which of the following are most likely to negatively affect the suppliers' bargaining power in a specific market? Select TWO that apply:

  • Many suppliers are intent on integrating buyers into their business
  • Substitute products are readily available in the market
  • There are no differences among suppliers' products
  • Buyers incur high cost when they change their suppliers
  • There are almost no threats of backward integration

  Reveal Answer Answer: B, C Next Question

• Question 3

  

  Which of the following are considered as direct costs in a construction company? Select TWO op-tions

  • Raw materials
  • An employee is hired to work on a project, either exclusively or for an assigned number of hours
  • The materials and supplies needed for the company's day-to-day operations.
  • Advertising and marketing communication
  • Clerical assistants who maintain the office

  Reveal Answer Answer: A, B Next Question

• Question 4

  

  Which of the following bodies provides standards for the products and services in the US?

  • ISO
  • ANSI
  • AFNOR
  • BSI

  Reveal Answer Answer: B Next Question

• Question 5

  

  Department for Transport (DfT) needs to buy new locomotives to expand the capacity of trains fleet. In 2009, they were criticized for beginning the procurement ''without any clear idea of how many trains would be needed, which routes they would run on and what form of power would be required''. What should procurement manager of DfT do first to manage risk in making the specification?

  • Identify the possible risks
  • Monitor the potential risks
  • Implement mitigating actions
  • Assess the potential risks

  Reveal Answer Answer: A Next Question

• Question 6

  

  Ethan is the newly appointed CEO of ATT Group. He sees that the company is wasting financial resources on unnecessary spends. To solve this problem, Ethan requires all functional managers to prepare their department budget from scratch. Each spend must have justification or it will not be approved. Which budgeting method is Ethan using?

  • Value preposition budget
  • Zero-based budget
  • Incremental budget
  • Activity-based budget

  Reveal Answer Answer: B Next Question

• Question 7

  

  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:

  • Build a design
  • Prepare tendering documents
  • Identify the IT system supplier
  • Define the user requirements

  Reveal Answer Answer: D Next Question

• Question 8

  

  Which of the following is the process for improving the value of a new product or service?

  • Value engineering
  • Porter's Five Forces
  • Planning and design
  • Value analysis

  Reveal Answer Answer: A Next Question

• Question 9

  

  Which of the following sources of information are considered as primary data? Select TWO that apply.

  • The information about specific market sectors from trade associations
  • Commercial publishers of market reports
  • The collection of data from surveying customers
  • RFI
  • Reports in business magazines

  Reveal Answer Answer: C, D Next Question

• Question 10

  

  To strengthen its market presence, ABC Group decided to develop a new product. A cross-functional team was formed to discuss the scope and the functions of the product. They will also survey the potential customers to see what they like, what they love, and what they dislike. What is this process called?

  • Value analysis
  • Cash flow analysis
  • Product standardisation
  • Value engineering

  Reveal Answer Answer: D Next Question

Page: 1 / 29
Total Questions: 145

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