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CIPS L5M2 Exam

Managing Supply Chain Risk

Total Questions: 120

Last Updated : 17-04-2024

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CIPS L5M2 Questions

Q1.

What is ISO28000?

ARisk Management

BSupply Chain Security

CQuality Management

DSustainable Procurement

Q2.

ISO 31000 is built on 11 guiding principles. Identify THREE of these.

ARisk management can create value

BRisk Management should take into account company culture

CRisk Management should address uncertainty faced by the organisation

DRisk Management should be done annually

ERisk Management should include only the Departments affected by risk

Q3.

When would a company use the Stakeholder Salience Model?

Ato engage stakeholders in the development of risk assessments

Bto inform stakeholders of potential risks

Cto show stakeholders how the company will mitigate risks

Das part of a disaster recovery plan

Q4.

Which of the following is a quantative method for completing a risk assessment and an alternative to using an impact scale?

Arating of 1-5

Bimpact analysis

C4 Ts

Dmonetary value

P133 of the study guide says 'it is also possible for organisation to use a quantative method where they quantify the loss in terms of monitory value instead of an impact figure'. Rating 1-5 is incorrect because this is the same as an impact scale. Impact analysis is wrong because this isn't quantative. 4Ts are the ways you can mitigate risks.

Q5.

An interconnected supply chain would have what affect on the creation of a risk register?

Arisks will be larger

Brisks will sit with the procurement team

Cactions to mitigate one risk, may create a new risk

Dactions to mitigate risks will require a cross-functional team

Solutions:

Question: 1 Answer: B

Question: 2 Answer: A, B, C

Question: 3 Answer: A

Question: 4 Answer: D

Question: 5 Answer: C