2025年最新の実際に出ると確認されたL4M4試験問題集と解答でL4M4無料更新
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質問 # 29
Philip is a procurement manager at XYZ Company which imports raw materials from abroad. Sup-pliers provide quotes to Philip in their local currency. Is this the best way to reduce the risk to XYZ Company of currency fluctuations?
- A. no- quoting in the supplier's currency increases the risk for the buyer
- B. yes- this means the price won't go up or down
- C. no- quoting in the supplier's currency does not affect the risk to the buying organisation
- D. yes- this puts the risk on the supplier
正解：A
解説：
The correct answer is 'no- quoting in the supplier's currency increases the risk for the buyer'. This questions comes up in a variety of formats in the exam. Remember; if the price is in your own currency (most examples in the exam are given in £) there is less risk than if the prices are quoted in a foreign currency. This is because exchange rates fluctuate; if the price is in £ you always know what you're paying, if it's in another currency the price can change daily depending on if the exchange rate compared to £ has gone up or down.
質問 # 30
Which of the following are procurement procedures permissible under EU Public Procurement rules? Select TWO that apply.
- A. Complex procedure
- B. Open procedure
- C. Conformance procedure
- D. Public procedure
- E. Restricted procedure
正解：B、E
解説：
Under EU Public Procurement rules, the permissible procurement procedures include the Open Procedure and the Restricted Procedure. The Open Procedure allows any interested party to submit a tender, while the Restricted Procedure involves a two-stage process where only selected candidates are invited to submit tenders. These procedures are designed to ensure transparency, competition, and equal treatment in public procurement.
Exact Extract from Study Guide:
"The EU Public Procurement Directive outlines several procedures including Open Procedure and Restricted Procedure, which are designed to facilitate fair and transparent procurement processes."
質問 # 31
A supplier operates in a monopolistic market where the threat of entry is low. The product that they offer is key in manufacturing certain types of submarines and there is no known substitute for the product at present.
What type of sourcing relationship is a buyer likely to have with this supplier?
- A. single sourced
- B. dual sourced
- C. sole sourced
- D. multiple sourced
正解：C
質問 # 32
Incoterms describe several aspects and responsibilities of transporting goods when sourcing internationally.
Which of the following is described by Incoterms? Select THREE.
- A. who is responsible for making duty and tariff arrangements
- B. which party arranges insurance
- C. how much the transportation will cost
- D. how long the transportation will take
- E. what form of transportation will be used
正解：A、B、E
解説：
Incoterms describe who out of the buer and seller; organises transport and what type of transport this is, who pays for insurance, and who organises duty / tariff arrangements when the goods go through customs. See p.
131. Note- some students report a lot of questions on Incoterms in the exam, some say they only had 1. If you can, I'd learn them just to be safe.
質問 # 33
What is a major benefit to using Incoterms when sourcing goods internationally?
- A. it replaces the need for insurance
- B. it ensures value for money
- C. it ensures ethical business practices
- D. it replaces lengthy contractual clauses
正解：D
解説：
Incoterms can replace lengthy contract clauses as they replace the need for contracts to detail which party is responsible for organising transport, paying duties, having the insurance etc.
Incoterms is an odd one for exam topics- some students say it was a huge part of their exam and there were many questions on this. Others said there were just one or two. Questions get randomly assigned from the bank so it's completely random how many you'll get on this topic.
質問 # 34
Which of the following would you use to determine the outcome of a competitive tender? Select TWO.
- A. quality
- B. distribution
- C. reputation
- D. price
- E. location
正解：A、D
解説：
Price and Quality are the two considerations when marking a competitive tender.
Location, distribution and reputation may be considered for SOME tenders, but these would be sub-categories that fall under 'quality questions.
質問 # 35
Incoterms describe several aspects and responsibilities of transporting goods when sourcing internationally.
Which of the following is described by Incoterms? Select THREE.
- A. who is responsible for making duty and tariff arrangements
- B. which party arranges insurance
- C. how much the transportation will cost
- D. how long the transportation will take
- E. what form of transportation will be used
正解：A、B、E
解説：
Incoterms describe who out of the buer and seller; organises transport and what type of transport this is, who pays for insurance, and who organises duty / tariff arrangements when the goods go through customs. See p.131. Note- some students report a lot of questions on Incoterms in the exam, some say they only had 1. If you can, I'd learn them just to be safe.
質問 # 36
Which of the following Incoterms has the lowest risk for the supplier?
- A. delivered duty paid
- B. ex works
- C. free on board
- D. delivered at terminal
正解：B
解説：
Ex-Works has the lowest risk to the supplier- in Exworks the buyer collects the items directly from the supplier - so they have all the issues and risks of transporting it back home.
There are many question on Incoterms CIPS can ask. But as there's such a huge bank of questions it's really hit or miss if you'll get one of those question. Two students sitting the exam at the same time in the same study centre can get different question sets. One person can get 3 Incoterm questions and the other gets 0.
I would learn the major ones- the ones at the ends of the table in particular because these are the ones question are likely to be about. Ex works / Free carrier and Delivered at Place Unloaded/ De-livered Duty Paid in particular.
I like this graph as I'm a visual person. I think it makes it easier to understand than the study guide:
Shipping Incoterms: the Complete Guide - Guided Imports
質問 # 37
Which of the following would be a valid reason to make a product inhouse, rather than buy it from a supplier?
- A. improved quality control
- B. killset of supplier is higher
- C. threat of substitutions
- D. less inventory
正解：A
解説：
One of the biggest advantages to making an item over buying it is 'improved quality control'.
When you make the product yourself, you can set the quality parameters you require and aren't re-stricted to, or dependant on, what the supplier does. The other options are incorrect- making stuff inhouse would mean you hold more inventory. If the supplier has a higher skillset than you, you would outsource. Threat of substitutions wouldn't impact this decision.
For a list of pros and cons relating to the 'make or buy' decision see p.5. This is a hot topic for the exam.
質問 # 38
An organisation within the European Union (EU) wants to import an item from outside of the EU. Which of the following is a valid shipping document?
- A. Goods inward document
- B. Purchase order document
- C. Bill of lading document
- D. Single transit document
正解：C
解説：
A Bill of Lading is a critical shipping document in international trade, serving as a receipt for shipped goods and a contract between the shipper and carrier. It is essential for customs clearance and is recognized as a valid document for importing goods into the EU.
Exact Extract from Study Guide:
"The Bill of Lading (B/L) is a document issued by the shipping company to the operating shipper, which acknowledges that the goods have been received on board."
質問 # 39
Which of the incoterms listed are suitable for transporting goods via train?
- A. FOB
- B. CRF
- C. EXW
- D. FAS
正解：C
解説：
EXW- exworks is a suitable incoterm for transporting goods both by rail and boat. It can be used regardless of the mode of transport. The other three are for transport over water. P. 143 Shipping Incoterms: the Complete Guide - Guided Imports Some students report a lot of questions on Incoterms in the exam, some say they only had 1. Best bet is to learn them if you possibly can.
質問 # 40
FTSE100 and Sensex are examples of what?
- A. financial reports
- B. public sector organisations
- C. stock markets
- D. commodity indices
正解：C
解説：
they are stock markets.
What is the FTSE 100 Index? Complete Beginner's Guide (moneycheck.com)
BSE SENSEX - Wikipedia
質問 # 41
Which of the following are considerations when evaluating quality as a criterion for supplier selection? Select TWO that apply.
- A. Certification to the management system ISO 9001
- B. The supplier's environmental impact analysis
- C. The existence of policies and initiatives toward more sustainable packaging and materials
- D. Certification to the management system ISO 14001
- E. The existence of Total Quality Management (TQM) and a continuous improvement culture
正解：A、E
解説：
Total Quality Management (TQM) practices and ISO 9001 certification are indicators of a supplier's commitment to quality. Responsible sourcing evaluates these factors to ensure suppliers meet high-quality standards and continuous improvement expectations.
質問 # 42
An organisation is keep to include Social Outcomes in it's assessment for Value for Money for a new tender.
Which of the following should be considered?
- A. CO2 emissions of the supplier's delivery vehicles
- B. accreditations such as Fair Trade
- C. use of local labour to deliver the contract
- D. supplier's ESG policy
正解：C
解説：
Social value is about benefitting the local community / society. Therefore of those options listed, use of local labour is the most appropriate to consider.
質問 # 43
Which award criteria can be applied when sourcing requirements from external suppliers?
- A. Plans and manpower numbers
- B. Delivery promises of goods
- C. Understanding of supplier operations
- D. Price and total life-cycle costs
正解：D
解説：
Evaluating total life-cycle costs, including initial purchase price and long-term maintenance, aligns with ethical sourcing by promoting cost-effective and sustainable procurement. It ensures value for money and supports environmentally and financially responsible sourcing practices.
質問 # 44
What would an EBITDA ratio show you?
- A. how solvent a business is
- B. how much of a business's funding is made up of long term debt
- C. how profitable a business is
- D. how effectively a business uses its assets to generate sales
正解：C
解説：
EBITDA stands for 'earnings before interest, tax, depreciation and amortization'. This is a profitability ratio and would show how profitable a business is.
EBITDA: Definition, Calculation Formulas, History, and Criticisms (investopedia.com)
質問 # 45
Incoterms are designed to be understood and interpreted on a worldwide basis. What is the interpretation for FOB (Free on Board)?
- A. The buyer takes responsibility for the goods after they are loaded on the ship, plus subsequent costs excluding freight charges
- B. The buyer takes responsibility for transferring the goods from the seller's premises to the ship, plus all subsequent costs
- C. The buyer takes responsibility for the goods after they are loaded on the ship, plus all subsequent costs including freight charges
- D. The buyer takes responsibility for taking the goods from the departure quayside to the ship, plus all subsequent costs
正解：C
解説：
Under theFOB (Free on Board)Incoterm, the seller is responsible for delivering the goods onto the vessel at the named port of shipment. Once the goods are on board, the risk and responsibility transfer to the buyer.
From that point onward, the buyer assumes all costs and risks associated with the transportation of the goods, including freight charges, insurance, unloading, and delivery to the final destination.
This interpretation aligns with the Incoterms 2020 rules set by the International Chamber of Commerce (ICC). It's crucial to note that FOB is applicable only for sea or inland waterway transport and is not suitable for containerized cargo, where theFCA (Free Carrier)term is more appropriate.
References:
Trade Finance Global: FOB (Free on Board) - Incoterms 2020 Rule
Maersk: FOB Incoterms meaning | Free on Board shipping
質問 # 46
Greg is doing some research on a potential supplier and is concerned that the supplier's funding is based on long-term debts and loans. Working with this supplier therefore might bring additional risks to Greg's business. What should Greg do about his concerns?
- A. work out the supplier's EBITDA
- B. use the Return on Investment Ratio
- C. do an Acid Test
- D. work out the supplier's gearing ratio
正解：D
解説：
Greg needs to use a gearing ratio. Gearing is a measure of how the business is being funded and is based on the ratio of debt to equity Gearing comes up a lot in the exam. Also make sure you know what Return on Investment, Acid Test and EBITDA are.
Return on Investment (ROI): How to Calculate It and What It Means (investopedia.com) EBITDA: Definition, Calculation Formulas, History, and Criticisms (investopedia.com) Acid-Test Ratio: Definition, Formula, and Example (investopedia.com)
質問 # 47
Damian is a procurement professional in the Public Sector. He has recently run a competition to source new uniforms for hospital staff and has decided on a suitable supplier. Should Damian con-duct post tender negotiation with the supplier?
- A. yes- all tender processes should include post-tender negotiation
- B. yes- post-tender negotiation may result in a lower price and thus better value for money
- C. no- this isn't necessary as Damian has selected the most appropriate supplier
- D. no- it would be against the law for Damian to do this
正解：D
解説：
Damian works in the Public Sector- it is against the law for the public sector to conduct 'post tender negotiation' after a contract has been awarded. This is because it's not transparent and equal opportunities, which are founding principles of public sector procurement.
Private sector can do whatever they want. They can do post-tender negotiations.
NOTE: this is currently the rules as per Public Contract Regulations 2015. These are being superseded in October by new legislation. The study guide doesn't mention this, but it's happening. At the time of writing (January 2023) we don't have the full details about what the new rules are but I doubt they will change on this particular topic. You can find out more about the changes to Public Sector Procurement here: Transforming Public Procurement - GOV.UK (www.gov.uk)
質問 # 48
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