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CIPS Procurement and Supply in Practice Exam Dumps

Last Updated : May 31, 2026

Total Questions : 104

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Following are some L4M8 Exam Questions for Review

Question 1

Explain why risk should be evaluated prior to the disposal of any assets.

AExplanation:
Disposal of an asset is the final stage in the decommissioning process of a fixed asset.
When a fixed asset reaches the end of its useful or cost effective life time within an organization, the decision is made as to whether it should be removed from the premises or disposed off.
The process of disposing an asset cannot be without its risk, for example there could be pollution in the community, waste or hazardous materials that could affect the underground water or humans around.
These risks should be identified, evaluated to come up with a response strategy on how to avoid or mitigate them causing damage to human, property, business and the environment.
*
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Question 2

What is the retention of title clause also known as?

AExplanation:
Retention of title (ROT) states when ownership transfers from supplier to buyer.
The retention of title terms also referred to as the Romalpa clause, which is related to a legal case from 1976 between Aluminum industries Vaassen BV and Romalpa Aluminum LTD

Question 3

What are Carter's 10Cs?

AExplanation:
Carter's 10cs is a detailed mechanism that procurement professional uses to evaluate potential supplier. What the procurement professional should consider in supplier are the following 10 things.
1) Competency 2) capacity 3) Cost 4) Cash 5) Clean 6) Consistency 7) Control 8) Culture 9) Com-mitment 10) Communication.

Question 4

What are the two options for the disposal of an asset if resale is not possible?

AExplanation:
Disposal of an asset is the final stage in the decommissioning process of a fixed asset.
When a fixed asset reaches the end of its useful or cost effective life time within an organization, the decision is made as to whether it should be removed from the premises or disposed off.
If the asset is truly at the end of its life, no longer fit for purpose, not cost effective to repair and is not able to be exchanged, then disposal is the only option; there are two options for disposal;
1) Take the asset to land fill site
2) Taking the asset to a recycling plant.

Question 5

What are the four methods that can be used to try to resolve dispute?

AExplanation:
Conflict or dispute is the final area a procurement professional considers when creating terms for a contract with a supplier. If conflict or dispute arises, there must be a process put in place in the contract to try to resolve it and these includes;
a) Negotiation, b) mediation, c) arbitration and d) litigation.
Negotiation is usually carried out between senior people within organization that are in conflict, if they cannot reach an agreement through negotiation, mediation is the next stage, mediation is when a third party tries to help find a resolution among the parties in dispute. If mediation fails arbitration can start, arbitration involve independent professionals (arbitrators) working with all the party to try to reach an agreement. Parties do not have a formal or legal obligation to follow the arbitrator's recommendation. Arbitration is expensive. If arbitration fails to resolve the conflict, the final stage is litigation, litigation takes time and money, and most people avoid it. It is a legal process where a court decides on the outcome of the dispute. The judge's ruling is final.
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Get CIPS L4M8 Exam Practice Questions - Real and Updated

CIPS Procurement and Supply in Practice Exam Dumps

This Bundle Pack includes Following 3 Formats

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L4M8 Questions & Answers (PDF)

L4M8 Web Based Self Assessment Practice Test

Following are some L4M8 Exam Questions for Review

Unlock All Features of CIPS L4M8 Dumps Software

Latest Success Metrics For actual L4M8 Exam

L4M8 Desktop Practice
Test Software

L4M8 Questions & Answers
(PDF)