CIPS L5M2 Reliable Test Sample, L5M2 Sample Questions Pdf

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The CIPS L5M2 (Managing Supply Chain Risk) Certification Exam is a globally recognized certification for supply chain professionals who want to enhance their knowledge and skills in managing supply chain risks. This certification is designed to equip candidates with the necessary skills to identify, assess, and mitigate risks within the supply chain. It covers the most critical aspects of supply chain risk management, including risk identification, assessment, mitigation, and monitoring. Candidates who successfully pass the exam will have a deep understanding of the importance of risk management in the supply chain and be able to apply best practices to their organization.

To pass the CIPS L5M2 Exam, candidates need to demonstrate a thorough understanding of the key concepts and principles of supply chain risk management. They should be able to identify different types of risks that can impact the supply chain, such as natural disasters, geopolitical risks, and supplier bankruptcy. They should also be able to evaluate the likelihood and impact of these risks and develop effective risk mitigation strategies to minimize the impact on the organization. In addition, candidates should have a good understanding of supply chain resilience and be able to develop plans to ensure that their organization can recover quickly from any disruptions to the supply chain. Overall, the CIPS L5M2 Exam is an essential qualification for procurement and supply chain professionals who want to enhance their knowledge and skills in managing supply chain risks.

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CIPS Managing Supply Chain Risk Sample Questions (Q53-Q58):

NEW QUESTION # 53
In an organisation, who is responsible for creating a risk assessment register?

A. Cross-Functional Team
B. Risk Manager / H+S Manager
C. the CEO
D. Procurement Manager

Answer: A

Explanation:
Explanation
A Cross Functional Team should create a risk register. It shouldn't be the responsibility of one person to do this- more points of view will lead to more risks being identified. Accountability for the Risk Register may however sit with the CEO or a Department Manager. This is explained on p. 132

NEW QUESTION # 54
Which of the following statements about FIDIC Contracts are true? Select TWO:

A. They are used in the construction industry
B. Early warning notices are given when risks arise
C. Change control is called a 'Compensation Event'
D. Each party manages their own risks separately
E. They are more collaborative than NEC contracts

Answer: A,D

Explanation:
Explanation
1 and 3 are correct answers. Options 2,4, and 5 are true for NEC contracts - NEC is more collaborative than FIDIC, early warning notices are given and change controls are called 'Compensation Events'. See p.74 for more information on FIDIC and NEC Contracts. This does come up in the exam

NEW QUESTION # 55
Which of the following is not a benefit of having a contingency plan?

A. increased profits
B. increased staff morale
C. greater resilience to force majeure events
D. competitive advantage

Answer: A

Explanation:
Explanation
Contingency plans won't increase your profit, but they will do the other three things. This is from p.109-110 of the study guide

NEW QUESTION # 56
What is the purpose of an indemnity clause within a contract?

A. to explain what would happen in the case of a force majeure
B. to assign risk to each party
C. to transfer risk from one party to another
D. to ensure both parties are adequately insured if something were to go wrong

Answer: C

Explanation:
Explanation
Indemnity clauses transfer risk from one party to another. It is an arrangement whereby one party promises to compensate the other party for a trigger event. An example of an indemnity clause could be a construction firm is building a new bridge and the project is supposed to be completed by 1st June. An indemnity clause may state that should the bridge not be ready by this date, the construction firm will compensate the buyer by X amount. See p.61 for more information on indemnity.

NEW QUESTION # 57
Which of the following is not an internal risk for a business who imports raw materials from abroad?

A. technology malfunction
B. changes to import levies
C. procurement fraud
D. loss of customer data

Answer: B

Explanation:
Explanation
changes to import levies is an external risk. Not internal. See p.118-119 for more information on internal risks
- this is a popular exam topic. Internal risks are stuff that happens inside a company, external risks are risks from the external environment (whether this is political, economical, weather etc)

NEW QUESTION # 58
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