LATEST CIPS L4M5 EXAM PATTERN & PASS4SURE L4M5 STUDY MATERIALS

Latest CIPS L4M5 Exam Pattern & Pass4sure L4M5 Study Materials

Latest CIPS L4M5 Exam Pattern & Pass4sure L4M5 Study Materials

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CIPS L4M5 (Commercial Negotiation) Certification Exam is designed for professionals who are involved in procurement, supply chain management, sales, and contract management. Commercial Negotiation certification is particularly useful for those who are responsible for negotiating contracts, pricing, and terms of service. By gaining this certification, you will be able to enhance your skills and knowledge in commercial negotiation, which will enable you to negotiate more effectively and achieve better outcomes for your organization.

CIPS L4M5 Commercial Negotiation exam is designed for professionals who are seeking to advance their careers in procurement and supply chain management. L4M5 Exam is a comprehensive assessment of knowledge on the concepts of commercial negotiation, contract management, and communicating, which enables procurement professionals to have a complete comprehension of the various strategies they can use to negotiate successfully. Leading experts who have been successful in various procurement and supply chain management fields have contributed to the development of the L4M5 exam to provide practical and effective strategies to tackle complex procurement negotiations.

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CIPS Commercial Negotiation Sample Questions (Q134-Q139):

NEW QUESTION # 134
Which of the following are most likely to be macro factorsthat may influence the balance of power in commercial negotiation? Select THREE that apply.

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

Answer: A,E,F

Explanation:
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:
Table Description automatically generated

LO 1, AC 1.3


NEW QUESTION # 135
End users are the only stakeholders that are involved in the preparation of a negotiation. Is this statement true?

  • A. No, because end-users are external stakeholders
  • B. No, because budget holders also play an important role
  • C. Yes, because end-users have greaterexpert power
  • D. Yes, because only end-users understand their demand

Answer: B

Explanation:
Explanation
Commercial negotiation objectives should bedriven by the business needs of the organisation. Organisations are made up of different stakeholder groups, some of whom may have different, even conflicting objectives.
From a negotiation perspective, stakeholders can be defined as persons or groups thathave interest (or stake) in the outcome of the negotiation you are leading or participating in.
CIPS distinguishes between 3 sets of stakeholders:
- Internal stakeholders
- Connected stakeholders
- External stakeholders
End-users are examples of internalstakeholders. They are the people who will benefit from the purchase of a product or service. However, their interest may conflict with other groups, i.e. the budget controllers whose objective is minimising the expense. In negotiation perspective, procurement should involve different groups of stakeholder.
LO 1, AC 1.1


NEW QUESTION # 136
A skilled negotiator will use a range of questioning techniques in a negotiation. If they wished to explore options with the other party without making any formal commitment, which type of question style would they use?

  • A. Leading
  • B. Reflective
  • C. Hypothetic
  • D. Multiple

Answer: C

Explanation:
Hypothetical questions are used to explore options or scenarios without making commitments. This technique allows negotiators to understand the other party's preferences and limitations by presenting hypothetical situations, as recommended in CIPS guidelines for negotiation questioning techniques.


NEW QUESTION # 137
When is the best time to adopt accommodating style according to Thomas-Kilmann conflict mode instrument?

  • A. When preserving harmony and avoiding disruption with supplier are especially important
  • B. When both buyer and supplier want to find an integrative solution as their concerns are too important to be compromised
  • C. When buyer and supplier have equal power but are strongly committed to mutually exclusive goals
  • D. When buyer needs to gather more information to gain more advantages in later negotiations

Answer: A

Explanation:
According to Thomas-Kilmann conflict model instrument, there are 5 conflict management styles:
Accommodating is an unassertive and cooperative approach to resolving the conflict. Accommodating means conceding to the other party with little debate or fight, not challenging or strongly putting forward your own point of view and generally giving and yielding to the other party's point of view. Accommodating is best used when:
1. When others can resolve the conflict more effectively
2. When the issue is much more important to the other person than to yourself - to satisfy the needs of others and to show you are reasonable
3. To build up social credit for later issues which are important to you
4. When continued competition would only damage your cause
5. When preserving harmony and avoiding disruption are especially important
6. To aid in the managerial development of subordinates by allowing them to experiment and learn from their own mistakes LO 1, AC 1.1


NEW QUESTION # 138
Which of the following is considered a weakness of a 'dealer' style negotiator?

  • A. May shift position quickly
  • B. May be too assertive
  • C. Focuses on the facts and not the people
  • D. Very precise

Answer: A

Explanation:
A useful and simple shorthand for preferred negotiation styles is summarised by four simple descriptor:
'warm', 'tough', 'logical' and 'dealer', which can be applied to describe individuals' dominant preferred style in most circumstances.
Warm - a people person
Tough - a hard-nosed negotiator
Logic - a numbers person
Dealer - a trader who loves bargaining
Strengths, weaknesses of dealer style are described below:
LO 2, AC 2.4


NEW QUESTION # 139
......

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