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As a reputable professional certification, the CIPS L4M5 Certification provides procurement professionals with added credibility and recognition in the industry. Employers and clients often seek professionals with globally recognized certifications, and the CIPS L4M5 Certification gives candidates a competitive edge in the job market. Overall, the certification is an excellent investment for procurement professionals looking to advance their careers and improve their knowledge and skills in commercial negotiation.
L4M5 Latest Test Questions, Lab L4M5 QuestionsThese Commercial Negotiation (L4M5) exam questions help applicants prepare well prior to entering the actual Commercial Negotiation (L4M5) exam center. Due to our actual L4M5 Exam Dumps, our valued customers always pass their CIPS L4M5 exam on the very first try hence, saving their precious time and money too. CIPS Commercial Negotiation Sample Questions (Q365-Q370):NEW QUESTION # 365
An adversarial style of negotiation is appropriate where the buyer has greater bargaining power over the supplier. In what other situations may the buyer adopt this style of negotiation?
A. In a market that is full of alternative sources and substitute products
B. When the supplier is a monopolist and some advantages need to be gained from the agreement
C. Where there is a single sourcing strategy to eliminate the competing suppliers and retain only one
D. In a market where the buyers are competing for fewer supply sources
Answer: A
Explanation:
An adversarial negotiation style is more suitable in a market with many alternative sources and substitutes (B). When there are multiple suppliers, buyers have the upper hand and can adopt a competitive stance without risking supply continuity. This aligns with CIPS guidance on the use of adversarial styles in competitive markets with numerous alternatives.
NEW QUESTION # 366
A procurement manager is considering negotiating variable pricing for a contract duration of 12 months.
Would this be the right thing to do?
A. No, because it will prove difficult to budget for the duration of the contract and provide financial uncertainty
B. Yes, because it will build relationships with the supplier and provide a stronger platform for the next contract renewal
C. No, because this will not enhance the buyer-supplier relationship
D. Yes, because this method of pricing will always provide value for money
Answer: A
Explanation:
Variable pricing can lead to budgeting challenges and financial uncertainty over a 12-month period. While variable pricing may allow flexibility, it complicates financial planning and forecasting. For predictable budgeting and reduced financial risk, fixed pricing is typically preferred in such contract durations, aligning with CIPS recommendations on pricing models in contract management.
NEW QUESTION # 367
Which of the following is most likely a consequence of falling interest rate?
A. Decrease consumption
B. Decrease investment
C. Increase savings
D. Increase aggregate demand
Answer: D
Explanation:
:
If interest rate are too low and credit is too, cheap rates can fund a spending boom with consumers and businesses buying (investment) more than they can afford to pay back.
NEW QUESTION # 368
Which of the following are rules of attentive listening? Select TWO that apply.
A. Do not interrupt when the other party is speaking
B. React to the person who is speaking
C. Prepare for whatto say next
D. Only focus on verbal cues
E. Listen deliberately
Answer: A,E
Explanation:
Explanation
Hearing is passive but listening is active, and some people need to learn to be a good, attentive listener. The following rules of attentive listening will help you to become a successful negotiator:
* Be motivated to listen
* Be alert to non-verbal cues
* Do not interrupt the other party when they are speaking
* Fight off distractions
* Write everything down
* Listen with a goal in mind
* Give the other party your undivided attention
* React to the message, not the person
LO 3, AC 3.3
NEW QUESTION # 369
JCB is a large manufacturer of heavy machinery. The CPO is going to a negotiation with a Chinese supplier about procuring some major components. He is wondering about balance of power in the negotiation. Which of the following micro factors are most likely to shift the balance of power towards the buying organisation in this commercial negotiation? Select TWO that apply
A. Eruption of epidemic in supply market
B. JCB's switching costs are low
C. These components are highly standardised
D. Buyers purchase in small volumes
E. Suppliers are more concentrated than buyer
Answer: B,C
Explanation:
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
- Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical
- Micro level: Porter's five forces:
Diagram Description automatically generated
- One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases buyer's bargaining power. Among 5 answers, only 2 are likely to increase buyer's power:
- JCB's switching costs are low: Buyer may easily switch its suppliers anytime
- These components are highly standardised: The products are not different any more, buyer may choose to buy from any supplier available.
Other answers cannot be correct because:
- Suppliers are more concentrated than buyer: Suppliers are forming oligopoly market, their bargaining power tend to be greater.
- Eruption of epidemic in supply market: this is a macro factor. Eruption of epidemic may cause factories closed and disruptions on supply chain.
- Buyers purchase in small volumes: Buyer will be seen as less potential to suppliers. Buying organisation may have difficulties to deal better price with suppliers.
LO 1, AC 1.3
NEW QUESTION # 370
......
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