Question 1

Select the two words which explain least well why the procurement of services can be more challenging than the procurement of physical products:

Options :

A : Permeable

B : Unimaginable

C : Intangible

D : Inseparable

E : Variable

F : Perishable

Answer: A,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

The axes on the Mendelow stakeholder management matrix are:

Options :

A : Power and influence

B : Risk and interest

C : Power and interest

D : Risk and reward

Answer: C

Question 4

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

Question 5

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

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