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HBX CORe Final Examination is the culminating assessment of the program. It is a comprehensive exam that tests the learner's understanding of the concepts covered in the three courses. CORe exam consists of multiple-choice questions, short-answer questions, and case studies. CORe exam is timed, and learners are given a specific amount of time to complete it.

The HBX CORe Final Examination is a challenging test that requires students to demonstrate a deep understanding of the material presented in the course. However, students who successfully complete the exam will earn a certificate of completion from Harvard Business School, which is recognized by employers around the world. This certificate can be a valuable addition to a student's resume and can help them stand out in a competitive job market.

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ISM Supply Management Core Exam Sample Questions (Q261-Q266):

NEW QUESTION # 261
A company that wants to add value to its operations should work with its suppliers on which of the following?

A. Lengthening payment terms
B. Using continuous improvement
C. Monitoring material costs
D. Increasing communication

Answer: B

NEW QUESTION # 262
With normally distributed data, approximately 95% of all observations fall within how many standard deviations from the mean?

A. 0
B. 1
C. 2
D. 3

Answer: A

NEW QUESTION # 263
A nutritional study is released that touts the benefits of eating cereal for breakfast. Concurrently, a new type of grain is invented that reduces the input costs in producing cereal. What will happen to the equilibrium price and the quantity consumed of bananas, a complement to breakfast cereal?

A. The quantity consumed of bananas will increase, and the effect on price cannot be determined.
B. The price and quantity consumed of bananas will not change.
C. The price of bananas will increase, and the quantity consumed will decrease.
D. Both the price of bananas and the quantity consumed will decrease.

Answer: A

NEW QUESTION # 264
After lengthy and intense negotiations, a verbal agreement is reached between a buying organization and a finished goods supplier. The president of the buying organization sends a letter contract to the supplier. The supplier immediately ships goods to the buying organization and invoices for the material, before any contract is signed. At this point, is the buying firm obligated to pay the invoice?

A. No, as the buying organization did not issue a formal purchase order.
B. Yes, the buying firm must pay for anything that the supplier ships whether agreed to or not.
C. Yes, as a letter contract Is a valid pre-contractual agreement.
D. No, as there was only a verbal agreement.

Answer: C

Explanation:
* Verbal Agreement: A verbal agreement was reached during negotiations.
* Letter Contract: The president of the buying organization sent a letter contract to the supplier.
* Supplier Actions: The supplier shipped goods and invoiced for the material.
* Obligation to Pay: A letter contract is a valid pre-contractual agreement that signifies the buying firm's intent to enter into a formal contract. By accepting the goods, the buying firm is obligated to pay the invoice.
References
* ISM. (n.d.). Understanding Letter Contracts and Binding Agreements.
* CIPS. (n.d.). Legal Aspects of Procurement Contracts.

NEW QUESTION # 265
A supply manager for TUV, Inc. contracts with a new supplier of a critical raw material. After receiving several shipments, TUV's manufacturing team finds too much variation in the material dimensions. A meeting is held between the engineering and quality staffs of both companies to discuss the situation. Which of the following should the supply manager do NEXT?

A. Return the unacceptable material and demand a replacement shipment that meets all specifications
B. Assess a financial penalty against the supplier for shipping uncertified materials
C. Change the supplier from the approved list to probationary status and cancel current orders
D. Suggest that the engineering and quality staffs visit the supplier's facility to review processes

Answer: D

NEW QUESTION # 266
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