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The L4M2 exam consists of a variety of question types, including multiple-choice, short answer, and case study questions. L4M2 exam is timed and candidates have a set amount of time to complete each section. L4M2 exam is designed to test both theoretical knowledge and practical application, so candidates must be prepared to apply their knowledge to real-world scenarios.

CIPS L4M2 exam is a three-hour written exam that consists of six questions. The questions are designed to test the candidate's understanding of the key concepts covered in the module. L4M2 exam is open book, which means that candidates are allowed to bring their textbooks and notes into the exam room. However, the use of electronic devices such as laptops and tablets is not allowed.

CIPS L4M2 Exam covers the identification of procurement options. This involves understanding the different procurement routes available, such as traditional procurement, design and build, and public-private partnerships. Learners will also understand the importance of selecting the most appropriate procurement option based on the business needs, budget, and risk profile. L4M2 exam will equip learners with the skills and knowledge to develop procurement strategies that are fit for purpose and deliver value for money.

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CIPS Defining Business Needs Sample Questions (Q226-Q231):

NEW QUESTION # 226
Which of the following are the fair and reasonable comparators in price analysis? Select TWO that apply:

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

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 # 227
Which of the following are characteristics of effective financial markets?
* Market stability is maintained
* Market volatility is encouraged
* Investment is encouraged
* The level of regulation is reduced

A. 3 and 4 only
B. 2 and 4 only
C. 1 and 3 only
D. 1 and 2 only

Answer: C

NEW QUESTION # 228
The procurement team of an IT hardware manufacturer has been set a target by senior management to reduce the rates paid to the sole supplier of a new and innovative power-saving battery. Which action should the procurement team first consider?

A. Dual or multiple sourcing
B. Offering economies of scale
C. Agreeing rebate thresholds
D. Offering a framework agreement

Answer: A

Explanation:
Detailed Explanation:Dual or multiple sourcing introduces competition, reducing the sole supplier's bargaining power and leading to cost reductions. Framework agreements (A) or economies of scale (D) may not address the immediate need to reduce rates. Reference: CIPS Level 4, Sourcing Strategies.

NEW QUESTION # 229
Sabic is a petrochemical manufacturer. It wants to digitalise its operation and is looking for new IT system. The procurement manager approaches this matter with a through-life specification. He supposes that stating "good quality" in the specification will be enough for quality standard section. Is the procurement manager's thought appropriate?

A. No, because "good quality" is very ambiguous for suppliers to identify Sabic's re-quirement
B. Yes, because the specification should be concise.
C. No, because "good quality" is an in-house jargon that suppliers are not familiar with
D. Yes, because IT sector has its own standard of quality, therefore, suppliers may deliver good quality without any further Explanation:

Answer: A

Explanation:
Specifications for through-life contracts must be clear. They should use precise technical language and avoid any ambiguity as much as possible. In most cases, 'good quality' is ambiguous. The con-tractor doesn't know exactly which product the buying organisation needs and how to supply that product.
Other notices for description of requirement are:
- Short and simply description
- Clear definitions at the beginning of the documents
- Clarify abbreviations (if any), but abbreviations should be avoided as much as possible
- Avoid any 'slang'
- Use imperative forms of language whenever possible.
LO 3, AC 3.2

NEW QUESTION # 230
Andrew is responsible for procurement of capital assets at Lumber Ltd. He is devising new business case for the purchase of a new band saw. The purchase price of the saw is $50,000. Andrew estimates that the machine will generate $10,000 per year of net cash flow. What is the payback period of this band saw?

A. 4 years
B. 3 years
C. 5 years
D. 10 years

Answer: C

Explanation:
Payback period is the time in which the initial outlay of an investment is expected to be recovered through the cash inflows generated by the investment. It is one of the simplest investment apprais-al techniques.
Since cash flow estimates are quite accurate for periods in the near future and relatively inaccurate for periods in distant future due to economic and operational uncertainties, payback period is an indicator of risk inherent in a project because it takes initial inflows into account and ignores the cash flows after the point at which the initial investment is recovered.
The formula to calculate the payback period of an investment depends on whether the periodic cash inflows from the project are even or uneven.
If the cash inflows are even (such as for investments in annuities), the formula to calculate payback period is:
Payback Period = Initial Investment / Net Cash Flow per Period
When cash inflows are uneven, we need to calculate the cumulative net cash flow for each period and then use the following formula:
Payback Period =A + (B/C)
Where,
A is the last period number with a negative cumulative cash flow;
B is the absolute value (i.e. value without negative sign) of cumulative net cash flow at the end of the period A; and C is the total cash inflow during the period following period A Cumulative net cash flow is the sum of inflows to date, minus the initial outflow.
Reference:
- Payback Period | Formulas, Calculation & Examples (xplaind.com)
- CIPS study guide page 44-47
LO 1, AC 1.3

NEW QUESTION # 231
......

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Latest Valid L4M2 Learning Materials Offers Candidates Fast-Download Actual CIPS Defining Business Needs Exam Products

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CIPS Defining Business Needs Sample Questions (Q226-Q231):

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