Free ISM CPSMB Practice Test & Real Exam Questions, Page 1

Question #1

Which of the following is NOT an objective of regression analysis?

A. Determine mathematical errors

B. Determine the nature of the relationship

C. Determine a relationship between two variables

D. Determine the degree of accuracy in prediction of a regression equation

Discussion 0

Correct Answer: A Vote an answer

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Question #2

Under the auspice of developing an operating plan, very specific types of deterministic information are used. Which type of deterministic information includes the organizations seasonal elements, growth trends and market indicators?

A. Geopolitical elements

B. Historical elements

C. Magnitude

D. Industry elements

Discussion 0

Correct Answer: B Vote an answer

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Question #3

The business technology solutions should be ranked on the following functionality, technical capabilities, general business, and?

A. Replacement costs

B. Pricing to include development and support

C. Resale value of the system

D. Ease of use

Discussion 0

Correct Answer: B Vote an answer

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Question #4

There are numerous International Commercial Terms the supply management professional should be familiar with. The Incoterm FCA Free Carrier (named place) indicates what?

A. The supplier quotes a price that includes the cost of goods and cost of transportation to a named destination.

B. The seller places goods on the loading dock and the risk of loss is transferred to the buyer.

C. The buyer takes possession of the shipment at the point of origin and bears all costs and risks associated with the transportation.

D. The seller delivers goods which are cleared for export to the buyers designated carrier and named location.

Discussion 0

Correct Answer: D Vote an answer

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Question #5

Which of the following is not a before the fact control?

A. Budgets and available funds.

B. Plans, including market share and customer requirements.

C. Forecasts, including prediction of a future time period.

D. Determining which products to recycle.

Discussion 0

Correct Answer: D Vote an answer

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Question #6

If the supply management professional was developing information for a forecasting model in which they developed a consensus on matching requirements and capabilities to most effectively meet customer requirements within constraints imposed by the supply chain capabilities. They are in effect developing what?

A. Production strategy for the organization.

B. Future supply needs of the organization.

C. Usage modeling for the organization.

D. The demand management of the organization.

Discussion 0

Correct Answer: D Vote an answer

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Question #7

All of the following are disadvantages of supply management policies EXCEPT.

A. The difficulty of actually enforcing policies.

B. The necessity to justify the cost to enforce certain policies.

C. They provide employees with an understanding of organizational values and philosophies.

D. The problem of measuring whether policies stifle innovation.

Discussion 0

Correct Answer: C Vote an answer

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Question #8

Competition between supply chains makes reducing costs a critical success factor, which of the following cost removal targets involves a one-time savings or continuing savings gained from paying less than was previously paid?

A. Loss leader pricing

B. Process improvement

C. Collaborative cost takeout efforts

D. Cost savings

Discussion 0

Correct Answer: D Vote an answer

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Question #9

The contract closeout process ensures that all administrative matters on the contract are physically complete. Which of the following is not included in the contract closeout process?

A. Final audit process.

B. Final payment process.

C. The property disposition process.

D. Final product or service acceptance.

Discussion 0

Correct Answer: A Vote an answer

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Question #10

Speaking with employees and determining how empowered they are in their environment is a technique to review?

A. Risk management stance of an organization.

B. Employee morale in an organization.

C. Supplier performance for an organization.

D. Empowerment of the employees in an organization.

Discussion 0

Correct Answer: C Vote an answer

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Question #11

Using forecasting methodologies forecasts can be broken down into long-term, medium term, and short-term. In supply management what timeframe BEST fits a medium-term forecast?

A. One year to one and a half years.

B. More than one year.

C. Less than three months.

D. Three months to one year.

Discussion 0

Correct Answer: D Vote an answer

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Question #12

The goal of the Box-Jenkins forecast is to find a mathematical formula that will generate the historical demand in a time series. Which stage of Box-Jenkins should be completed FIRST?

A. Parameter estimation

B. Time analysis determination.

C. Model checking

D. Model selection

Discussion 0

Correct Answer: D Vote an answer

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Question #13

Organizations should maintain customs documents on file for at least?

A. 30 years after the transaction or completion of the contract for the supply management organization.

B. Indefinitely after the transaction or completion of the contract for the supply management organization.

C. 10 years after the transaction or completion of the contract for the supply management organization.

D. 7 years after the transaction or completion of the contract for the supply management organization.

Discussion 0

Correct Answer: D Vote an answer

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Question #14

SKICRAFT Industries has developed a new snow ski boot fastener which is state of the are as far as release mechanisms. Which form of intellectual property is this MOST likely classified under?

A. Trade secret

B. Patent

C. Trademark

D. Copyright

Discussion 0

Correct Answer: B Vote an answer

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