CORe Exam Success | CORe Valid Exam Notes
CORe Exam Success | CORe Valid Exam Notes
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Tags: CORe Exam Success, CORe Valid Exam Notes, Real CORe Torrent, New CORe Exam Sample, New CORe Dumps Sheet
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ISM Supply Management Core Exam Sample Questions (Q123-Q128):
NEW QUESTION # 123
Separating processes such as ordering, receiving, and payment into different duties to be performed by different employees represents what aspect of internal controls?
- A. Risk assessment
- B. Control activities
- C. Work control
- D. Quality control
Answer: B
Explanation:
Separating processes such as ordering, receiving, and payment into different duties performed by different employees is a control activity. This aspect of internal controls helps prevent fraud and errors by ensuring no single individual has control over all aspects of a transaction, promoting accountability and accuracy within the organization. References: Internal controls frameworks (e.g., COSO), audit and compliance guidelines, risk management in procurement.
NEW QUESTION # 124
A researcher wants to predict an individual's starting monthly salary based on the number of years of education the individual has received.
Based on the Excel output below, what is the predicted starting monthly salary for a person with 17 years of education?
- A. $1,438.71
- B. $8,194.69
- C. $6,032.45
- D. $3,870.21
Answer: D
NEW QUESTION # 125
A supply manager is leading a negotiation team. This team will negotiate with several finalists supplying complex services. Prior to the negotiations, the supply manager briefs the team on strategies, roles and responsibilities. The team members seem to understand the importance of these factors, but shortly after the negotiations commence, several members begin to make mistakes such as arguing witF each other and failing to pay attention. Which of the following is the BEST course of action for the supply manager to take at this point?
- A. End the negotiations and begin another round with different team members
- B. Call a caucus and reiterate the negotiation rules and their Importance In interactions with suppliers
- C. Contact the team members' supervisors and express concern over the way they acted during the negotiations
- D. Remove the offending stakeholders from the negotiations, as they are not following the instructions
Answer: B
Explanation:
* Issue During Negotiations: Team members are making mistakes and not following instructions shortly after negotiations commence.
* Immediate Action: Calling a caucus allows the supply manager to pause the negotiations and address the issues immediately.
* Reiterate Rules: Reiterating the negotiation rules and their importance helps in realigning the team and ensuring everyone understands their roles and responsibilities.
* Preventing Further Issues: This approach aims to correct the team's behavior and improve the chances of successful negotiations without removing stakeholders or ending the negotiations prematurely.
References
* ISM. (n.d.). Best Practices for Leading Negotiation Teams.
* CIPS. (n.d.). Effective Negotiation Strategies and Techniques.
NEW QUESTION # 126
Which of the following situations requires dummy variables to be used in the regression model?
- A. A study to examine the relationship between stock prices and interest rates on company revenue
- B. A study to examine the relationship between age and weight on the probability of breast cancer
- C. A study to examine the relationship between the season and amount of water pollution on the number of sea-turtles
- D. A study to examine the relationship between average salary and age of buyer on the amount spent on housing
Answer: C
NEW QUESTION # 127
A supply manager holds a competitive, sealed bid for a piece of capital equipment. The equipment is of critical importance to the company's operations. The potential bidders include local, national, and international suppliers, as the company wants to receive as many bids as possible.
After the bid closing date, but before bid opening, a bidder contacts the supply manager and states that it made an error in its delivery time. The supplier asks if it can submit a corrected bid prior to opening. Which of the following is the BEST action for the supply manager to take?
- A. The supply manager should allowthe supplier tosubmit a corrected bid.
- B. The supply manager should allowthe supplier towithdraw its bid.
- C. The supply manager should allow the supplier to submit a corrected bid subject to the approval of management during the bid opening.
- D. The supply manager should allow the supplier to withdraw its bid, but suspend it from bidding for another six months.
Answer: B
Explanation:
Allowing the supplier to withdraw its bid is the best course of action because it maintains the integrity of the competitive bidding process. Accepting a corrected bid would compromise the fairness of the process and could lead to disputes or perceptions of favoritism. Suspension is unnecessarily punitive for an honest mistake.
References:
* ISM Handbook of Supply Management: Guidelines for Competitive Bidding
* FAR (Federal Acquisition Regulation): Handling Bid Mistakes
NEW QUESTION # 128
......
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