L5M2 Exam Dumps - Managing Supply Chain Risk

Explanation

A black swan event is an unusual occurrence - something that is rare. See p.124

Explanation

changes to import levies is an external risk. Not internal. See p.118-119 for more information on internal risks - this is a popular exam topic. Internal risks are stuff that happens inside a company, external risks are risks from the external environment (whether this is political, economical, weather etc)

Explanation

The correct answers are as follows:

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Explanation

Indemnity clauses should contain duties of both parties, a monetary limit and a time limit (1 2 and 5). It should also detail what types of costs are covered. These four points are explained on p.61. An indemnity clause doesn't necessarily signal a breach in contract, and levels of insurance are not relevant here.

Explanation

Contingency plans won't increase your profit, but they will do the other three things. This is from p.109-110 of the study guide

Explanation

The correct answer is 'publish a summary of how the directors have engaged with employees'. For more information on this piece of legislation see p. 145

Explanation

SWOT is used for this. S + W is strengths and weaknesses, which are internal risks. O+T are opportunities and threats which are external risks. See p. 12 for more information

Explanation

1, 3 and 4 are the correct options. Binomial is based on discreate events not continuous and it assumes the events of each trial are independent of one another. This YouTube video explains it all perfectly using the chance that an ice-cream cone is broken. It's a nice memorable example to help you remember what binomial distribution is and how it works: https://www.youtube.com/watch?v=3EZbX2ftCUk - it 's a very memorable example and really helped me. You can also see more info in the cips textbook p.131

Explanation

The correct order is 2, 1, 3 - this is from p.108 of the study guide: 'The Components of a Business Continuity and Disaster Recovery Plan'.

Explanation

This is the Yellow Book. This is briefly mentioned on p.74 and can often be missed by students. There is a question in the exam about which type of FIDIC contract can be used for construction projects and this is NOT explained in the study guide - so here is a link to FIDIC so you can revise this before the exam: https://fidic.org/sites/default/files/FIDIC_Suite_of_Contracts_0.pdf

Explanation

This is a financial risk. A drop in share prices is a huge financial risk for a company. Having lots of items as WIP is also a financial risk as this signifies that a lot of money is tied up in stock being held on site. Types of risk are very popular exam questions for this module- for a full list of these and explanations see p.11

Explanation

The correct answers are as follows:

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Explanation

Power and Legitimacy are part of the Stakeholder Salience Model - the third characteristic is Urgency. See p. 138

ExplanationThe correct answers are as follows:

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