CIPS L5M1 PROCUREMENT STRATEGY
ACTUAL EXAMINATION 2026 QUESTIONS
WITH ANSWERS GRADED A+
⩥ Sole trader. Answer: Those with exclusive ownership of a business
⩥ Partnerships. Answer: Legal forms of a business with 2+ owners
⩥ General partnership. Answer: a type of partnership in which all
partners share equally in both responsibility and liability
⩥ Limited liability partnership. Answer: a type of partnership in which
all partners are limited partners
⩥ limited partnership. Answer: partnership in which only one partner is
required to be a general partner
⩥ incorporated company. Answer: The 2 types are private limited
company (Ltd) and public limited company (PLC)
⩥ plc (public limited company). Answer: a company whose shares can
be traded on the stock market
, ⩥ LTD (private limited company). Answer: A business owned by
shareholders when shares are sold by invitation only
⩥ MSMEs. Answer: Micro, Small and Medium Enterprises
⩥ MNC (multinational corporation). Answer: any type of international
company that maintains operations in multiple countries
⩥ Functions of Private Sector:. Answer: Economic growth, profit,
market share, cash flow, return on investment, shares
⩥ In the value chain model, the following are support activities:.
Answer: Firm infrastructure, HR management, tech development
procurement
⩥ In the value chain model, the following are primary activities:.
Answer: Inbound logistics, operations, outbound logistics, marketing
and sales, after sales service
⩥ RAQSCI model stands for.... Answer: Regulatory, Assurance, Quality,
Service, Cost, Innovation
⩥ A Business Requirement definition.... Answer: Sets out what to buy
ACTUAL EXAMINATION 2026 QUESTIONS
WITH ANSWERS GRADED A+
⩥ Sole trader. Answer: Those with exclusive ownership of a business
⩥ Partnerships. Answer: Legal forms of a business with 2+ owners
⩥ General partnership. Answer: a type of partnership in which all
partners share equally in both responsibility and liability
⩥ Limited liability partnership. Answer: a type of partnership in which
all partners are limited partners
⩥ limited partnership. Answer: partnership in which only one partner is
required to be a general partner
⩥ incorporated company. Answer: The 2 types are private limited
company (Ltd) and public limited company (PLC)
⩥ plc (public limited company). Answer: a company whose shares can
be traded on the stock market
, ⩥ LTD (private limited company). Answer: A business owned by
shareholders when shares are sold by invitation only
⩥ MSMEs. Answer: Micro, Small and Medium Enterprises
⩥ MNC (multinational corporation). Answer: any type of international
company that maintains operations in multiple countries
⩥ Functions of Private Sector:. Answer: Economic growth, profit,
market share, cash flow, return on investment, shares
⩥ In the value chain model, the following are support activities:.
Answer: Firm infrastructure, HR management, tech development
procurement
⩥ In the value chain model, the following are primary activities:.
Answer: Inbound logistics, operations, outbound logistics, marketing
and sales, after sales service
⩥ RAQSCI model stands for.... Answer: Regulatory, Assurance, Quality,
Service, Cost, Innovation
⩥ A Business Requirement definition.... Answer: Sets out what to buy
