Test L4M5 Questions Fee & Exam L4M5 Guide

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L4M5 practice exam enables applicants to practice time management, answer strategies, and all other elements of the final Commercial Negotiation (L4M5) certification exam and can check their scores. The exhaustive report enrollment database allows students to evaluate their performance and prepare for the Commercial Negotiation (L4M5) certification exam without further difficulty.

CIPS L4M5 certification exam consists of five units, each with its own specific learning outcomes. These units cover a range of topics, including the principles of negotiation, the negotiation process, the legal and ethical aspects of negotiation, and the importance of building long-term relationships with suppliers. The CIPS L4M5 Certification Exam is designed to provide professionals with a broad understanding of commercial negotiation and to equip them with the skills and knowledge needed to excel in their roles.

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CIPS L4M5 (Commercial Negotiation) Exam is an essential certification for professionals seeking to advance their careers in the field of procurement and supply chain management. L4M5 exam is designed to test a candidate's understanding of the principles of negotiation and their ability to apply these principles in commercial contexts. The CIPS L4M5 Exam is known for its rigorous and comprehensive nature, making it highly respected within the industry.

CIPS Commercial Negotiation Sample Questions (Q56-Q61):

NEW QUESTION # 56
Which of the following are most likely to be macro factors that may influence the balance of power in commercial negotiation? Select THREE that apply.

A. Sustainability of natural resources
B. Purchasing spend volume
C. Economic growth rates
D. Number of substitute products or services
E. Intensity of competition in a industry
F. Disruptive technologies

Answer: A,C,F

Explanation:
All one-to-one commercial negotiations between a specific purchaser and a specific supplier take place within an industrial market and a larger business environment characterised by multiple forces which both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business:
LO 1, AC 1.3

NEW QUESTION # 57
The sourcing manager has decided to adopt an adversarial style of negotiation to take advantage of the buyer' s greater bargaining power over the suppliers. In what other circumstances should an adversarial relationship be used?

A. When the supplier is likely to respond with further concessions to maintain a long-term relationship
B. In all forms of negotiation as each party is always trying to gain advantage over the other
C. In a monopoly market as the supplier will respond by conceding quantity discounts
D. When the issues concerned are non-negotiable, for example, health and safety commitments

Answer: D

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.2 - Approaches to Negotiation

NEW QUESTION # 58
In general, which of the following is the consequence of a flatter demand curve?

A. Unit price elastic
B. Price inelastic
C. Price elastic
D. Quantityelastic

Answer: C

Explanation:
Explanation
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor.
In microeconomic graphs,elasticity and inelasticity can be shown by the slope of the demand curve. If a demand curve is almost horizontal, then the product pricing can be described as very elastic. If a demand curve is almost vertical, then the product pricing can be described asvery inelastic.
The formulae of elasticity:
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LO 2, AC 2.2

NEW QUESTION # 59
In which of the following persuasion methods, the influencer uses logics and objective reasons to persuade the others to buy into influencer's ideas?

A. Collaborative (pull)
B. Persuasive reasoning (push)
C. Visionary (pull)
D. Directive (push)

Answer: B

Explanation:
There are two major persuasion methods: 'push' and 'pull'.
Persuasion can be defined as encouraging someone to do something that you want them to do for you.
Persuasion is reasoning with someone so that they will believe or do something they might not otherwise do.
Persuasion can be considered as 'pushing' on TOP so that they can accept the change in attitude or behaviour as a result of your actions.
Influence is the ability to affect the manner of thinking of another. Influence can be considered as pulling on TOP so that you achieve the same result, but TOP feels they have changed their attitude or behaviour as a result of their reflection and thinking, and not your direct actions.
There are multiple variables to consider when choosing between 'push' and 'pull'. Professor Fiona Dent of Ashridge Business School proposes situations when each style might be most appropriate, breaking down push into 'directive' and 'reasoning' and 'pull' into 'collaborative' and 'visionary':
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Using logical and objective reasons is one of the typical characteristics of persuasion reasoning method.

NEW QUESTION # 60
Cost and price analysis is very important for buyers when they are preparing for a negotiation with supplier.
Which of the following is a benefit of knowing supplier's fixed costs?

A. With the sole understanding of supplier's fixed cost, the buyer would be able to know the volume at which supplier maximises their profit in short-run
B. The buyer would be able to get a comprehensive picture of supplier's efficiency
C. The buyer would be able to know the right volume to reach break-even point
D. The buyer would be able to know the point at which the supplier would reject the offer

Answer: C

Explanation:
Knowing supplier's fixed and variable costs is beneficial for the buyer in a negotiation. With these insights, the buyer would know the volume at which the supplier reaches break-even points and then offers significant discount due to economies of scale.
Reference: CIPS study guide page 80-81
LO 2, AC 2.1

NEW QUESTION # 61
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CIPS Commercial Negotiation Sample Questions (Q56-Q61):

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