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Exam Code: L3M1
Exam Name: Procurement and Supply Environments
Vendor: CIPS

60 Questions & Answers
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NEW QUESTION: 1
A team of technical writers works in the WRITE project. The project uses a single, shared workflow.
To better match the team's way of working they request a workflow change:
* The initial status of their project's workflow should be changed from Open to Awaiting Inspiration.
You navigate to the Workflows section of the administration, update the Name of the status in the workflow designer and publish your change.
What are two implications of this change? (Choose two.)
A. Awaiting Inspiration will be created as a new Status in Jira.
B. The Open Status will be changed to Awaiting Inspiration in all workflows using that status.
C. The workflow scheme for the WRITE project will need to be published before the change takes effect.
D. Transitions to the Awaiting Inspiration status will fail until the post functions for those transitions are updated.
E. Filters and Gadgets that referred to the Open status by name will be broken.
Answer: A,C

NEW QUESTION: 2
Your company has a private cloud that is managed by using a System Center 2012 infrastructure. You install the servers shown in the following table.

The company's compliance department identifies the following tasks that must be performed:
-Back up individual files from VM1.
-Back up configuration settings of VM1.
-Restore the configuration settings of VM1.
-Restore individual files from VM1 to an alternate location.
The compliance department administrators recommend installing the DPM agent on Server1, and then performing a full backup.
You need to identify which task is NOT met by the recommended solution.
Which task should you identify?
A. Back up individual files from VM1.
B. Restore individual files from VM1 to an alternate location.
C. Back up the configuration settings of VM1.
D. Restore the configuration settings of VM1.
Answer: D
Explanation:
See here:
http://blogs.virtualizationadmin.com/lowe/2011/01/12/hyper-v-and-dpm-watch-out-for-this/
If you're here, you already know you love virtualization so it's tempting to, as new services come on board, add them to the virtual environment. But, be careful when you consider adding Data Protection Manager as a virtual service.
If you do, you lose the key ability to fully protect Hyper-V-based workloads using DPM's native Hyper-V hooks.
The reason: In order to fully protect Hyper-V with DPM, the DPM server requires that the Hyper-V role be installed on it. You can't install the Hyper-V role inside a virtual guest due to lack of VT/AMD-V capability inside the VM.
Hence, you're out of luck.
Let's talk specifics: In short, although you can still protect Hyper-V with a virtual DPM server, on the recovery side, you lose the ability to perform item-level restoration of items from inside a virtual machine.
You can still protect individual virtual machine workloads by installing the DPM agent inside the virtual machine's guest OS at which point DPM sees that VM as just another system to be protected.
My advice: Just go physical if you're deploying DPM, especially if you need that native Hyper-V support.
NOTE: The text below was copied from a duplicate question.
In the event of disaster recovery, System Center Data Protection Manager (DPM) 2010 allows you to recover virtual machines as files to a network folder. You can then copy those files to an alternate Hyper-V host server. However, to start a virtual machine on an alternate Hyper-V host server, you have to manually create and configure the virtual machine using the recovered files.
DPM 2010 supports alternate location recovery (ALR), which allows you to recover a Hyper-V virtual machine to an alternate stand-alone Hyper-V host or to a cluster. The recovered virtual machine is already registered and configured on an alternate Hyper-V host server.
http://technet.microsoft.com/en-us/library/ff634209.aspx
In a virtualized environment the issue is whether to backup from inside the guest or from the host. The latter provides "bare metal restore" of an entire VM where something's gone catastrophically wrong with a VM (or the host) but in general it doesn't provide granular restore of files / folders. DPM 2010 added Item Level Restore (ILR), allowing you to restore individual files or folders within a VM even though it had only been backed up from the host. But this capability was only available when DPM 2010 ran on physical hardware, if the DPM server itself was in a VM this capability was not available. DPM 2012 fixes this glitch and can now do ILR even when the DPM server is a VM.
http://4sysops.com/archives/dpm-2012-part-3-other-improvements/

NEW QUESTION: 3
Mike Diffle has been asked to evaluate the bonds of Hardin, Inc. The specific issue Diffle is considering has an 8% annual coupon and matures in two years. The bonds are currently callable at 101, and beginning in six months, they are callable at par. Bratton Corp, a competitor of Hardin's, also has bonds outstanding which are identical to Hardin's except that they are not callable. Diffle believes that the AA rating of both bonds is an accurate reflection of their credit risk. Diffle is wondering if the Bratton bonds might be a better investment than the Hardin bonds. Assume that the following 1-year interest rate tree is used to value bonds with a maturity of up to three years (this tree assumes interest rate volatility of 10%).

Also, assume that the appropriate spot rates for securities maturing in one, two, and three years are 7.25%
,7.5%, and 7.80%, respectively.
Diffle believes he should begin his analysis with the option-free Bratton bonds. He decides to consider two different approaches to valuing the Bratton Bonds-one that uses the current spot rate curve and another that uses the interest rate tree given above.
For the next step in his analysis, Diffle has decided to calculate the value of the Hardin bonds using the interest rate tree. His assumption is that the bond will be called ai any node of the tree where the calculated value exceeds the call price. Diffle summarizes the results of his bond valuation analysis in a memo to his supervisor, Luke Puldo. In this memo, Diffle makes the following statements:
Statement 1: The value of the option embedded in the Hardin bonds can be derived by simply subtracting the interest rate tree value of the Hardin bonds from the interest rate tree value of the Bratton bonds.
Statement 2: I am concerned that the 10% volatility assumption used to develop the interest rate tree might be too low. A higher volatility assumption would result in a lower value for the Hardin bonds.
After reviewing Diffle's analysis, Puldo notes that Diffle has not included any information on the option adjusted spread (OAS) for the Hardin bonds. Puldo suggests that Diffle should evaluate the OAS in order to get an idea of the liquidity risk of the Hardin bonds. Diffle counters that the OAS may not be very informative in this case, since he is uncertain as to the reliability of the interest rate volatility assumption.
To finish his analysis, Diffle would like to use his binomial model to evaluate the interest rate risk of both the Hardin bonds and the Bratton bonds. Diffle has shocked interest rates by 25 basis points throughout the interest rate tree he has been using to value the two bond issues. Using the new rates, Diffle has calculated values for the bonds assuming a 25-basis-point increase or decrease in rates. He plans to use these values as inputs into the following formulas for duration and convexity:

Indicate whether the statements made by Diffle in his memo regarding the value of the embedded option and the effect of the volatility assumption are correct.
A. Both statements are correct.
B. Only the statement regarding the value of the embedded option is correct.
C. Only the statement regarding the effect of the volatility assumption is correct.
Answer: A
Explanation:
Explanation/Reference:
Explanation:
Statement 1 is correct. The value of the option would be the difference between the value calculated with no call feature (the Bratton bonds) and the value calculated assuming the bond is callable (the Hardin bonds). Recall that the vignette stated the Bratton and Hardin bonds were identical except for the call feature in the Hardin bonds. The option value would therefore be: 100.915 - 100.472 = 0.443. Statement 2 is also correct. Increased volatility would increase the value of the option, thus lowering the value of the callable bond. (Study Session 14, LOS 54.e,f)


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