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L5M2 Managing Supply Chain Risk Questions and Answers

Questions 4

What is the job of an underwriter?

Options:

A.

to assist a buyer in selecting the correct insurance

B.

to advise required insurance levels for a contract

C.

to evaluate insurance applications

D.

to determine the validity of an insurance claim

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Questions 5

Which of the following will you put into box 5?

Options:

A.

CSR Policy

B.

Quote in Buyer's Currency

C.

Force Majeure

D.

Standardise Payment Terms

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Questions 6

According to Kid Sadgrove, fraud can take place when four pre-conditions exist. Which of the following is not one of those pre-conditions?

Options:

A.

motive

B.

access

C.

opportunity

D.

attractive assets

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Questions 7

Which of the following will you put into box 4?

Options:

A.

transfer

B.

treat

C.

tolerate

D.

terminate

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Questions 8

Which of the following statements is true about ISO9001? Select TWO.

Options:

A.

it is based on the principle of continuous improvement

B.

it encourages businesses to see quality from the viewpoint of the customer

C.

it aims to ensure sustainability within the supply chain

D.

It complements ISO 20400

E.

it helps businesses to identify areas of potential risk and mitigate these accordingly

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Questions 9

Which of the following are key areas of ISO 26000 Social Responsibility? Select THREE.

Options:

A.

organisational governance

B.

quality management

C.

human rights

D.

consumer issues

E.

efficient systems

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Questions 10

Which of the following will you put into box 6?

Options:

A.

audit

B.

monitor

C.

insurance

D.

dual sourcing

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Questions 11

Which of the following insurances would provide cover in the eventuality that your supplier's place of business flooded and this affected your deliveries?

Options:

A.

business interruption insurance

B.

contingent business interruption insurance

C.

public liability insurance

D.

property insurance

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Questions 12

Which of the following will you put into box 8?

Options:

A.

service credits

B.

NDA

C.

Conformance Specification

D.

Force Majeure

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Questions 13

In which of the following industries is it common to find dedicated resource for risk management?

Options:

A.

banking and insurance

B.

agriculture

C.

manufacturing

D.

the public sector

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Questions 14

Maple Tree Limited is a Canadian company who has recently signed a new contract with a supplier who is based in China. Maple Tree Limited will be buying a raw material with a reputation for severe price fluctuations. Which of the following would help mitigate the risk that this poses? Select TWO options

Options:

A.

quote in the supplier's currency

B.

quote in the buyer's currency

C.

use a forward exchange contract

D.

fix the exchange rate at the current rate

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Questions 15

Which organisation created the Decent Work Agenda?

Options:

A.

UN

B.

ISO

C.

ILO

D.

ETI

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Questions 16

In probability theory, the chances of a coin landing on heads would be expressed in what way?

Options:

A.

50%

B.

one half

C.

0.5

D.

50-50

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Questions 17

Which of the following statements about binomial distribution are true? Select THREE

Options:

A.

there are only two outcomes

B.

they are based on continuous events

C.

there is only one outcome per event

D.

each trial has the same probability

E.

the events of one trial will impact on the next one

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Questions 18

Which of the following will you put into box 5?

Options:

A.

CSR Policy

B.

Quote in Buyer's Currency

C.

Force Majeure

D.

Standardise Payment Terms

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Exam Code: L5M2
Exam Name: Managing Supply Chain Risk
Last Update: Apr 16, 2024
Questions: 120
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