Question 1

In the period in question, the budget for staff overtime and bonuses is zero.

The actual expenditure is 2,900.

Is this variance:

Options :

A : Zero?

B : Adverse?

C : Averse?

D : Favourable?

Answer: B

Question 2

‘EBI’ stands for:

Options :

A : Eager buyer involvement

B : Early buyer involvement

C : Earnest business interest

D : Ethical business interest

Answer: B

Question 3

‘Reputation gained through proficiency, ability or achievement’ (as used in the CIPS Code of Conduct)

Options :

A : Statue

B : Status

C : Stature

D : Statute

Answer: C

Question 4

Restricted or limited tendering is also sometimes known as:

Options :

A : Elective

B : Effective

C : Invective

D : Selective

Answer: D

Question 5

Value can be added through XXXX reduction or by making a process more efficient or more effective'

Options :

A : Cost

B : Value

C : Profit

D : Cash

Answer: A

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