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L4M5 Actual Test | L4M5 Questions Exam

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CIPS L4M5: Commercial Negotiation is an essential exam for procurement professionals who want to master the art of negotiation. L4M5 exam is part of the Chartered Institute of Procurement and Supply (CIPS) Level 4 Diploma in Procurement and Supply. L4M5 exam is designed to test candidates' ability to negotiate effectively in a commercial environment. Successful completion of L4M5 exam will demonstrate that candidates have the skills and knowledge required to negotiate complex commercial contracts.

CIPS L4M5 (Commercial Negotiation) Certification Exam is designed for procurement and supply chain professionals who want to specialize in commercial negotiation. L4M5 exam is based on the latest industry practices and standards and is recognized worldwide as a mark of excellence in the procurement profession. Commercial Negotiation certification is ideal for individuals who want to advance their career in procurement and supply chain management and gain a competitive edge in the job market.

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Simplest Format of CIPS L4M5 Exam Practice Materials

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CIPS L4M5 exam covers a range of topics, including negotiation planning, strategies, tactics, and techniques. It also covers the legal aspects of commercial negotiation, such as contract law, dispute resolution, and intellectual property rights. L4M5 Exam assesses the candidate's ability to apply these concepts to real-life commercial scenarios and make informed decisions to achieve successful outcomes.

CIPS Commercial Negotiation Sample Questions (Q107-Q112):

NEW QUESTION # 107
Which type of question should be used to receive affirmation on statement?

A. Open
B. Narrow
C. Closed
D. Leading

Answer: C

Explanation:
:
Different questioning styles can be used to elicit desired responses:
Text Description automatically generated

NEW QUESTION # 108
The purpose of ongoing supplier relationship management following a negotiation and contract award is that it:

A. 1 and 2 (Enables the buyer to monitor supplier performance and persuade the supplier to renegotiate better terms)
B. 1 and 3 (Enables the buyer to monitor supplier performance and work with the supplier to resolve relationship problems)
C. 2 and 3 (Enables the buyer to persuade the supplier to renegotiate better terms and work with the supplier to resolve relationship problems)
D. 3 and 4 (Enables the buyer to work with the supplier to resolve relationship problems and evaluate unnecessary concessions)

Answer: B

NEW QUESTION # 109
Power is used only in adversarial negotiation situations to secure a 'win' outcome against the other side. Is this statement correct?

A. Yes, all negotiations entail a commercial contest which is always adversarial, as the powerful side gains
B. No, the use of power is not important in commercial negotiations as each side only looks for areas of agreement
C. No, the use of power can be necessary in integrative negotiations to help overcome time-wasting issues
D. Yes, it only in adversarial negotiation that the use of power is necessary, because of the win-lose outcome

Answer: C

NEW QUESTION # 110
Which of the following is a description of mark-up?

A. Profit expressed as a percentage of variable costs
B. Profit expressed as a percentage of the selling price
C. Profit expressed as a percentage of fixed costs
D. Profit expressed as a percentage of costs

Answer: D

Explanation:
Mark-up is defined as profit expressed as a percentage of the cost. It calculates the profit margin based on the cost price rather than the selling price, which allows companies to determine how much they are earning over their production or purchase costs. This aligns with standard accounting and CIPS definitions of mark-up in procurement contexts.

NEW QUESTION # 111
Which of the following is the area where two or more negotiating parties may find common ground?

A. Zone of proximal development
B. Zone of potential agreement
C. Walk away area
D. Best alternative to a negotiated agreement

Answer: B

Explanation:
The zone of possible agreement (ZOPA) or bargaining range is considered an area where two or more negotiating parties may find common ground. It is this area where parties will often compromise and strike a deal. In order for negotiating parties to find a settlement or reach an agreement, they must work towards a common goal and seek an area that incorporates at least some of each party's ideas.
The zone of proximal development refers to the difference between what a learner can do without help and what he or she can achieve with guidance and encouragement from a skilled partner.
There is no Walk away area. Walk away point is a position from which you cannot concede any more ground and must walk away/decline a deal.
Best alternative to a negotiated agreement is a fallback or backstop position if the negotiation fails to result in an agreement/no deal is agreed.
LO 1, AC 1.2

NEW QUESTION # 112
......

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