L4M4 Exam Dumps | Khalid is a procurement manager in the UK who is looking to source exotic fruit for a retailer. As this

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CIPS
Ethical and Responsible Sourcing
CIPS.L4M4.v2025-11-05.q105
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Question 1/105

Khalid is a procurement manager in the UK who is looking to source exotic fruit for a retailer. As this type of fruit doesn't grow naturally in the UK Khalid is looking at international suppliers, but is worried about variations in exchange rates. He is considering asking the suppliers to provide quotes in their local currencies.
Will this reduce the risk posed to Khalid?

A. yes- suppliers should quote in their own currencies so there is no risk to the importing company

B. yes- when suppliers quote in local currencies you are more likely to get better prices

C. no- quoting the prices in GBP / £ will provide Khalid with better security against cur-rency fluctuations

D. no- prices should be quoted in GBP / £ as this will reduce the cost of imports

Correct Answer: C

So you can immediately discount the options starting with yes.
Quoting in GBP / £ rather than the supplier's currency reduces the risk to the buyer. It will not re-duce the cost of the import, and will probably increase it as the supplier is then taking on the risk of currency fluctuations.

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