Preview Questions Procurement Specialist | Role Specific Skill

Question 1: In a contract for the supply of high-tech electrical components, how does the intellectual property clause protect the buyer?

Which action should you take?

Choose only one option

It allows for joint ownership of technology innovations created during the contract

It restricts the disclosure of proprietary technology to third parties

It grants the right to copy or modify the electrical design of the components

It ensures that the buyer has access to proprietary technology necessary for product use

Question 2: How do you assess whether a supplier's financial stability is strong enough to meet your company's needs?

Which action should you take?

Choose only one option

Check their credit rating

Focus on their delivery performance

Review their supply chain resilience

Assess their market reputation

Question 3: What does a "lean procurement strategy" focus on?

Which action should you take?

Choose only one option

Minimizing the number of suppliers involved

Reducing waste in the procurement process

Focusing on maximizing order sizes

Concentrating on the lowest purchase price

Question 4: What is the best strategy when negotiating with a supplier who has limited availability?

Which action should you take?

Choose only one option

Prioritize delivery over price

Increase order size for better pricing

Seek alternative suppliers

Negotiate longer payment terms

Question 5: How can a procurement specialist balance cost reduction while maintaining product quality?

Which action should you take?

Choose only one option

By minimizing purchase orders

By outsourcing all manufacturing

By focusing only on low-cost suppliers

By implementing a value-engineering approach

Question 6: When dealing with suppliers who provide inconsistent quality, what action should you take in the PO process?

Which action should you take?

Choose only one option

Accept a higher price for guaranteed quality

Implement a flexible delivery schedule for every order

Adjust the price in exchange for quality tolerance

Introduce quality control checks before order acceptance