Guaranteed Accomplishment with Newest Oct-2024 FREE ISM CORe [Q57-Q72]

Q57. Which of the following is the BEST reason to develop relationships with a small number of suppliers?

Q58. A supply manager of a U.S. publicly listed company is conducting an internal audit of the procurement department to ensure compliance with applicable laws and regulations. Top management has communicated the importance of financial reporting and effective controls within the organization’s procurement processes. In order to carry out the audit in alignment with top management’s direction, the supply manager should be particularly familiar with which of the following?

Q59. A student is deciding whether to attend a two-year graduate school program. The tuition is $12,500 per year and the cost of books and supplies is an additional $1,000 per year. The studentcould work instead of going to graduate school and earn $50,000 per year. What is the economic cost of attending graduate school for the student?

Q60. A supply manager receives negative feedback from internal stakeholders about several suppliers. However, the scorecards for these suppliers have been positive over the past few quarters, and any diminished performance is not reflected. Which of the following MOST likely explains this situation?

Q61. Which of the following items would be considered a relevant cash flow for capital budgeting purposes?

Q62. A technology and design company has created a new type of keyboard with different letter placement to make typing easier and more efficient. This new design is also cheaper to manufacture, and the company is able to price the keyboard lower than its competitors. However, sales have been extremely low. What is the MOST likely explanation?

Q63. A US-based manufacturing firm receives a quoted price for an item from an offshore supplier of $.40 each (in US dollars), delivered duty paid to its US plant per Incoterms 2020 rules, in minimum quantities of 20,000 units. The buying organization uses 80,000 units per year, and the carrying cost is 25%. The item price is fixed for one year. What are the total costs of purchasing annual requirements from this supplier?

Q64. A student conducts a two-sided hypothesis test and is looking for a confidence level of 65%. For which of the p-values below would the student reject the null hypothesis? (Select all that apply.)

Q65. DEF, Inc. is a multinational oil company expanding into a new geographic region. The firm’s policy is to purchase locally for its operations whenever possible. Thus, DEF needs to find sources of materials, basic equipment, and standard bulk items within the new region. Given this situation, which of the following is the BEST way for DEF to proceed?

Q66. A landlocked student believes that people would prefer to live near the ocean if they could afford the additional expense. To test this, the student wants to see whether states bordering an ocean are more likely to have a larger percent of wealthy families than states without an ocean coast. The student collects data from the 50 U.S. states on the percent of families making over $200,000 a year along with whether the state has an ocean coast (where 1 means the state has an ocean coast).

Based on the regression results given below, what can be said at the 95% confidence level?

Q67. In which of the following scenarios would both the price and quantity sold of paperback books decrease?

Q68. A supply manager Is conducting financial analyses of bidders. The supply manager wants to select the supplier that is the most efficient in its use of assets. Based on the following information, which supplier should the supply manager choose?

Q69. A firm becomes a publicly-traded company. To ensure compliance with Sarbanes-Oxley, the company must report what types of risks (if any) on the annual report to shareholders?

Q70. An airline company wants to improve its understanding of its product and customers. Using an internal model, the company predicts that business class revenues will decrease if the price of business class is reduced, but coach class revenues will increase if the price of coach class is reduced. Why might this be the case?

Q71. A company’s internal ordering system for indirect spend generally works well, though one group of products is often ordered under the wrong commodity codes, making spend history inaccurate. Which of the following will MOST likely improve data accuracy?

Q72. Telling a seller during negotiations that “This is our best and final offer” is a(n)