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Free CIPS L3M1 Practice Exam with Questions & Answers | Set: 2

Questions 11

Which of the following would often be subject to health and safety legislation?

Options:
A.

The need for appropriate firefighting equipment in a factory

B.

The manual lifting of heavy objects

C.

Floors, passages and stairs should be properly constructed, maintained and kept clear

D.

Smoking cigarettes inside offices, factories and other buildings

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Questions 12

A market situation where there is a small number of large suppliers is called:

Options:
A.

Oligopoly

B.

Monopoly

C.

Perfect competition

D.

Monopsony

Questions 13

In Hofstede’s dimensions of differences in national cultures, which one measures the extent to which security, order, control and predictability are preferred to ambiguity, risk and change?

Options:
A.

Long-term orientation

B.

Power-distance

C.

Individualism

D.

Masculinity

E.

Uncertainty avoidance

Questions 14

A 'mixed economy' is:

Options:
A.

One which is confused

B.

One in which private and public sectors operate together

C.

A market economy

D.

A centrally-planned economy

Questions 15

Protecting domestic industry from the effects of global competition is known as:

Options:
A.

Preventionism

B.

Interventionism

C.

Protectionism

D.

Globalism

Questions 16

Thinking of Michael Porter’s Industry Structure Analysis (commonly referred to as Five Forces Analysis), the content of the centre circle is about:

Options:
A.

Governmental regulation of competition within an economy

B.

Competitive rivalry within the industry

C.

Governmental interference in an industry

D.

Competitor price-cutting to increase market share

Questions 17

Which of the following would be / should be subject to health and safety legislation?

Options:
A.

All of them

B.

Smoking cigarettes inside offices, factories and other buildings

C.

The manual lifting of heavy objects

D.

Floors, passages and stairs should be properly constructed, maintained and kept clear

E.

The need for appropriate firefighting equipment in a factory

Questions 18

The principle that different spends may require different procedures, with different levels in the or-ganisational hierarchy having different spend authorisations is called:

Options:
A.

Distributed authority

B.

Delegated authority

C.

Diluted authority

D.

Devolved authority

Questions 19

A 'genuine pre-estimate of loss' describes:

Options:
A.

A quantum meruit award

B.

Liquidated damages

C.

Unliquidated damages

D.

A penalty clause

Questions 20

An organisation is...

Options:
A.

A social arrangement for the controlled performance of collective goals

B.

A collection of social people controlling performance of arranged goals

C.

A social arrangement for the collective performance of controlled goals

Exam Code: L3M1
Certification Provider: CIPS
Exam Name: Procurement and Supply Environments
Last Update: Jul 20, 2025
Questions: 90
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