[Q15-Q31] 100% Passing Guarantee – Brilliant L3M2 Exam Questions PDF [Jun-2024]

Q15. A term used to describe preparatory activities undertaken after a contractor has been appointed, but before they have commenced work. Often used in projects, construction or management consultan-cy

Q16. The abbreviation ‘KPI’ stands for:

Q17. The axes on the Kraljic matrix are (select two):

Q18. The act of secretly and illegally stealing funds which have been placed in the individual’s trust, or money belonging to a person’s employer:

Q19. A margin within which a specification can vary slightly – the outer limits of what is acceptable to the buyer – can be described as:

Q20. You work as a buyer for a large international corporation. You are currently involved in negotiating a high-value contract, and one of the supplier’s representatives offers to take you to a dog-racing event, with all expenses paid. The offer is open to the whole of your procurement team. What do you do?

Q21. Which ISO standard describes quality as ‘the degree to which a set of inherent characteristics fulfils requirements’?

Q22. ‘The usefulness of lifetime costing is for decision-making about whether to acquire an asset with an expected:

Q23. You have recently moved into the procurement department at your company, having earlier worked in the finance area in the same company for five years. You have decided to set up home with your partner, and you will need additional money to buy furniture, furnishings, etc. A friend has offered you extra part-time work at weekends, helping serve meals in their small family restaurant. Do you:

Q24. The objective of value engineering has been described as:

Q25. ‘Value engineering is a structured approach to increasing the value obtained from a product by of-fering the same level of XXXXX at a lower cost’.
What is XXXXX?

Q26. The Pareto Principle, broadly speaking, is also known as (choose two):

Q27. Which of the following are likely to encourage sound ethical practices within a procurement department?

Q28. Which two of the following would be unlikely to increase value for money for an organisation?

Q29. The abbreviation ‘SOP’ stands for:

Q30. The usefulness of lifetime costing is for decision-making about whether to acquire an asset with an expected:

Q31. ‘Expediting’ is: