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Actual L5M5 Managing Ethical Procurement and Supply (L5M5) Questions 2025

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CIPS Managing Ethical Procurement and Supply (L5M5) Sample Questions (Q108-Q113):

NEW QUESTION # 108
The ILO's fundamental principles and rights at work are binding on which countries?

A. Only those that have ratified the ILO conventions
B. Only countries with high labor standards
C. All member states of the ILO
D. Only developed countries

Answer: C

Explanation:
Choice B- This is the correct answer. The International Labor Organization (ILO) requires all member states to uphold its fundamental principles and rights at work, even if they have not ratified the specific conventions associated with these principles. These fundamental principles are part of the ILO Declaration on Fundamental Principles and Rights at Work (1998), which includes:
Freedom of association and the right to collective bargaining.
Elimination of forced or compulsory labor.
Abolition of child labor.
Elimination of discrimination in respect of employment and occupation.
When a country joins the ILO, it automatically accepts an obligation to respect, promote, and realize these fundamental principles, regardless of whether it has formally ratified the associated conventions. This reflects the ILO's commitment to promoting universal labor standards and protecting workers' rights globally.
Incorrect answer:
Choice A- This is incorrect because the fundamental principles apply to all member states, not just those that ratified specific conventions.
Choice C- The principles are universal and apply to all member states, regardless of economic status.
Choice D- Even countries with weak labor standards are obligated to promote these principles as ILO members. So, this is not the answer.
Reference:
LO-3.1; Page 248-249; Standards set by the United Nations (UN) and the International Labor Organization (ILO)

NEW QUESTION # 109
XYZ Corp is seeking industry certification and has hired an external firm to assess its compliance with regulatory requirements and industry standards. The firm will provide an unbiased evaluation and recommend improvements. What type of audit is XYZ Corp conducting?

A. Third-party audit
B. Compliance audit
C. Financial audit
D. Internal audit

Answer: A

Explanation:
Choice B- While the audit focuses on compliance (option C), the key detail in the scenario is that the audit is being conducted by an external firm. This makes it a third-party audit. A compliance audit (option C) could be conducted either internally or externally, depending on the organization's approach.
Incorrect answer:
Choice A- Internal audits are conducted by the organization's own employees or an internal audit team to assess compliance, risks, and processes. Since XYZ Corp hired an external firm, this is not an internal audit.
Choice C- Although the audit involves assessing compliance with regulatory and industry standards, the key point in the scenario is the use of an external firm. This makes it a third-party audit. A compliance audit can be conducted internally, externally, or by a third party. Incorrect (in this context) Choice D- A financial audit focuses on verifying the accuracy of an organization's financial statements and records. The scenario does not mention financial data but instead focuses on regulatory and industry compliance. Therefore, this is not a financial audit.
Reference:
LO-2.3; Page 207-208; Sourcing third parties for auditing services

NEW QUESTION # 110
A multinational retail company faces cybersecurity incidents, including unauthorized access to customer payment data and phishing attacks. To strengthen information security, the board seeks a globally recognized framework. The IT team must recommend the most suitable ISO standard for managing these risks systematically. Which ISO standard should the company adopt?

A. ISO 45001
B. ISO 9001
C. ISO 27001
D. ISO 20400

Answer: C

Explanation:
Choice A - ISO 9001 focuses on quality management and ensuring consistent product or service delivery. While it is valuable for improving operational processes, it does not specifically address information security risks or cybersecurity threats.
Choice B - ISO 27001 is the globally recognized standard for Information Security Management Systems (ISMS). It helps organizations systematically manage and improve their cybersecurity practices, protect customer data, and mitigate risks such as unauthorized access and phishing attacks..
Choice C - This standard focuses on sustainable procurement, ensuring ethical and environmental considerations in supply chain management. It is not relevant to cybersecurity.
Choice D- This standard addresses, occupational health and safety (OH&S), helping organizations improve workplace safety and reduce risks of injuries but does not cover information security.
Reference:
LO-3.3; Page 314; Importance of updating internal and governance standards

NEW QUESTION # 111
ABC Group, the country's largest textile company, is considering partnering with a Fair Trade-certified supplier to support sustainability and ethical practices. However, they are concerned about potential challenges in working with a Fair Trade organization. Which TWO of the following challenges might ABC Group face in this partnership?

A. Fair Trade standards may require investments in audits supported by self-assessment reports and office reviews adding costs to the business
B. Improved stakeholder perception of the brand, which can lead to reputational benefits
C. There are no real challenges, as all Fair Trade products are guaranteed to be competitive and cost-efficient
D. The product prices from Fair Trade suppliers are often significantly lower than conventional suppliers, making it hard to remain competitive
E. The Fair Trade certification process may require complex audits, and if there is a longer period between audits, activities could change and will no longer be compliant

Answer: A,E

Explanation:
Choice A- Obtaining Fair Trade certification often involves a thorough and detailed audit process, which demonstrates a company's positon at a period of time. If there is a longer period between audits, there is a chance that activities and processes could change within business and they will no longer be compliant with a fair trade organisation.
Choice C- This is correct. Fair Trade standards accreditation come at a cost and four yearly independent audits supported by self assessment reports and office reviews take time and resources.
Incorrect answer:
Choice B- This is incorrect. While Fair Trade products aim to provide ethical and sustainable options, they can come with challenges such as higher costs and longer certification processes.
Choice D- This is incorrect. Fair Trade products typically come with higher prices due to ethical production costs and fair wages. These prices are often higher, not lower, than those from conventional suppliers.
Choice E- This is a benefit of associating with a fair trade organisation and not a challenge.
Reference:
LO-3.3; Page 297-298; The World Fair Trade Organization (WFTO) and its principles and Charter of Fair Trade and implications for procurement and supply

NEW QUESTION # 112
Which organisation is responsible for the creation of the 2030 Sustainable Development Agenda?

A. NATO
B. ISO
C. UN
D. ILO

Answer: C

Explanation:
This is the UN. There are 17 sustainability goals and these are listed on p.3. For the exam it's a good idea to familiarise yourself with them, but there's no need to learn them all off-by-heart.

NEW QUESTION # 113
......

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