Cpsm Module 1

77 Questions  I  By Alfonsourzua on March 2, 2010
practice test module 1 CPSM

  

Question Excerpt

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1.  1 As defined in the ISM Glossary a specification is
A.
B.
C.
2.  2 All of the following are problems related to the solicitation and receipt of offers EXCEPT
A.
B.
C.
D.
3.  What does SWOTT mean?
A.
B.
C.
4.  A win-win or cooperational philosophy is likely to be used when both parties
A.
B.
C.
5.  The type of document used to enter into an interim agreement pending a definitive contract is a
A.
B.
C.
6.  The charge assessed by a railroad against a shipper that holds a car beyond the free time allowed is called
A.
B.
C.
7.  A supply management professional decides to issue a separate purchase order for each of several items instead of combining the items in a single purchase order, the probable result of this policy will be an increase in the
A.
B.
C.
8.  A supply management professional orders paint from a supplier and specifies that the paint must dry tack-free in 4 hours and dry hard in 12 hours these specifications are examples of
A.
B.
C.
9.  A certain by-product of GHI corporations manufacturing process is expensive to dispose of and does not decompose easily. You are given the task to identify ways to reduce disposal costs for this by-product which of the following is the BEST course of action?
A.
B.
C.
10.  Which of the following is a statement from a shipper lisitng contents of multiple shipments?
A.
B.
C.
11.  Leading supply management organizations typically include continuous improvement clauses within their contracts in order to target cost, quality and
A.
B.
C.
12.  Acquiring material on consignment may allow the supply management professional to save on all of the following EXCEPT
A.
B.
C.
13.  Which of the following forms of payment for international purchases is generally MOST favorable to the buying organization?
A.
B.
C.
14.  Which or the following is the LEAST important concern when contracting for the design and manufacture of a special component?
A.
B.
C.
15.  Choose  the type of budget that is BEST described by  the following,.In this type of budget funds are made available as expenditures are required
A.
B.
C.
16.  Choose  the type of budget that is BEST described by  the followingThis type of budget changes depending upon varying conditions
A.
B.
C.
17.  Choose  the type of budget that is BEST described by  the followingThis type of budget is formatted to show individual expenses during the budgetary period
A.
B.
C.
18.  A specification for a service to be performed is called a
A.
B.
C.
19.  Competitive proposal is a procurement practice that does all of the following EXCEPT
A.
B.
C.
20.  A reasonable profit is defined as
A.
B.
C.
21.  Which of the following BEST describes a market structure with few sellers and many buyers
A.
B.
C.
22.  An ______ may be issued as a preliminary step to a formal solicitation.(please complete the sentence)
A.
B.
C.
23.  All of the following are types of surety that the buying organization can use EXCEPT
A.
B.
C.
24.  A negotiation is BEST done by
A.
B.
C.
25.  The ISM Glossary defines price analysis as
A.
B.
C.
26.  Strategic planning requires the negotiator to select sources that will
A.
B.
C.
27.  Which of the following negotiation philosophies is the LEAST likely to be used by the negotiation team?
A.
B.
C.
28.  Which of the following negotiation tactics will MOST likely give the negotiator a way out of a tight situation
A.
B.
C.
29.  What do you call the legal requirement for creation of a valid contract that pertains to the value that is being exchanged 
A.
B.
C.
30.  All of the following will make an oral contract for goods worth more than $500 dollars acceptable EXCEPT
A.
B.
C.
31.  Who can terminate a contract for its convenience at any time?
A.
B.
C.
32.  A budget is a
A.
B.
C.
33.  Which one of the following is a purpose for a budget?
A.
B.
C.
34.  A program-project budget is also known as a
A.
B.
C.
35.  As defined in the ISM Glossary cost savings is a
A.
B.
C.
36.  Standard costs are the
A.
B.
C.
37.  Poor quality is expensive, studies have shown that the total costs of poor quality can range from
A.
B.
C.
38.  Which of the following is MOST likely to provide an adequate basis for future budget forecasting
A.
B.
C.
39.  According to the ISM Glossary Landed costs are
A.
B.
C.
40.  Which of the following is NOT a fixed cost
A.
B.
C.
41.  Target cost is equal to
A.
B.
C.
42.  The formula for ROI is
A.
B.
C.
43.  Which of the following is a financial yearly report for a publicly held company
A.
B.
C.
44.  A leveraged lease is one that involves
A.
B.
C.
45.  A dry lease often called a straight lease provides
A.
B.
C.
46.  An equity investment means that the purchasing organization will become
A.
B.
C.
47.  Which of the following is NOT an  International Industrial Directory
A.
B.
C.
48.  Which of the following is the MOST likely form of payment used in international purchases
A.
B.
C.
49.  Which of the followng is the LEAST likely to be included in the developement of a business plan
A.
B.
C.
50.  Incoterms are a uniform set of rules to clarify
A.
B.
C.
51.  All of the following are part of the ISM principles and standards of ethical supply management conduct
A.
B.
C.
1 comment
52.  Which of the following is NOT part of the Ten Principles of the Global Compact
A.
B.
C.
53.  Which of the following is a false statement in writing
A.
B.
C.
54.  Which of the following does NOT enforce civil and criminal penalties due to federal environmental laws
A.
B.
C.
55.  Can a purchasing organization using disclaimer clauses escape liability due to the improper handling or diposal of hazardous materials
A.
B.
C.
56.  In 2004 ISO added
A.
B.
C.
57.  Which of the following is a key directive for health and safety in the Europen Union1 WEEE2 REACH3 ROHS
A.
B.
C.
58.  Which of the following is the MOST likely reason for an MSDS
A.
B.
C.
59.  The general practice in the US for the retention of records is
A.
B.
C.
60.  The practice of concentrating purchases of a particular item with one source is called
A.
B.
C.
61.  Which of the following is MOST likely to be true for small suppliers
A.
B.
C.
62.  Which of the following is a yearly financial report for publicly held companies
A.
B.
C.
63.  Only one of the following always requires a price
A.
B.
C.
64.  The following is the definition for which incoterm used for any mode of transport seller must load goods onto the buyers carrier
A.
B.
C.
65.  On  FOB origin freight collect, which party is responsible for filing claims for loss or damage
A.
B.
C.
66.  Which of the following is an agreement to stock goods at a customer`s location
A.
B.
C.
67.  Which of the following involves the selling of a futures contract
A.
B.
C.
68.  When it is not possible to predict precisely the specific number of products or components to purchase you should
A.
B.
C.
69.  Optimization of the supplier base usually means
A.
B.
C.
70.  All  of the following are ways to promote good relations and trust EXCEPT
A.
B.
C.
71.  In the uS which of the following has to do with reciprocity
A.
B.
C.
72.  What percentage of the cost of the product is determined during the design phase
A.
B.
C.
73.  Supplier diversity programs have existed for more than ______ in the United States
A.
B.
C.
74.  The map of the supply chain should be linked to the
A.
B.
C.
75.  Six sigma
A.
B.
C.
76.  Which of the following has to do directly with the securities exchange commission
A.
B.
C.
77.  Typically a plant that is fully utilized operates at
A.
B.
C.
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