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A market situation where there is a small number of large suppliers is called:

A.

Oligopoly

B.

Monopoly

C.

Perfect competition

D.

Monopsony

Which of the following are examples of renewable resources?

A.

Hydro-electric

B.

Coal

C.

Oil

D.

Wind power from wind turbines

Which of the following is least risky from the buyer’s viewpoint?

A.

Payment on delivery

B.

Payment of 50% at time of order; with balance to be paid 90 days after delivery

C.

Payment in full at time of order

D.

Payment 60 days after delivery

Value for money can be defined by 'the three E's',

Select those which are not part of 'the 3 E's'.

A.

Effluence

B.

Effectiveness

C.

Ecology

D.

Energy

E.

Economy

F.

Efficiency

G.

Efficacy

The total variety of life on Earth’ is CIPS’ definition of:

A.

Depletion of renewables

B.

Biodiversity

C.

The environment

D.

Corporate Social Responsibility

Which one of the following is a commercial document issued by a seller stating what the cost would be of supplying certain goods or services, normally in response to an enquiry by the buyer?

A.

Request for quotation

B.

Supplier quotation

C.

Pre-qualification QUESTION NO:naire

D.

Commercial invoice

The idea / practice that some users / internal customers will spend organisational funds without in-volving procurement professionals when required to do so by organisational rules, is called:

A.

Off balance sheet procurement

B.

Nonconformist procurement

C.

Merchandise buying

D.

Maverick buying

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

A.

The local authority / government where the headquarters building is located.

B.

Customers

C.

The insurers of the headquarters building

D.

Shareholders

Which of the following might be objectives of private sector organisations? Select all that apply.

A.

To maximise taxation

B.

To minimise profit

C.

Shareholder value

D.

Market share

Pressure groups which seek to promote a particular issue, such as human rights, the environment; or raise awareness (eg modern slavery); or lobby for legislative change on a particular issue (eg species protection) are called:

A.

Casual pressure groups

B.

Sectional pressure groups

C.

Blood pressure groups

D.

Causal pressure groups