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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Commercial Negotiation |
| Exam Number: | L4M5 |
| Related Certifications: | L4M2 Defining Business Need L4M9 Purchasing Practice L4M3 Commercial Contracting L4M4 Ethical and Responsible Sourcing L4M8 Procurement and Supply Operations L4M7 Whole-Life Asset Management L4M6 Supplier Relationships L4M1 Scope and Influence of Procurement and Supply |
| Passing Score: | 50% |
| Exam Price: | £63 (UK member), £84 (non-member), varies by region |
| Available Languages: | English |
| Exam Format: | Scenario-based, Objective Response, Multiple Choice |
| Certificate Validity Period: | Valid for life upon completion of full diploma |
| Exam Duration: | 90 minutes |
| Real Exam Qty: | 60 |
| Recommended Training: | CIPS Official Study Guide L4M5 CIPS Approved Training Providers |
| Exam Registration: | Official CIPS Registration |
| Sample Questions: | CIPS L4M5 Sample Questions |
| Exam Way: | Online remote proctored or in-person at authorised test centres |
| Pre Condition: | No formal prerequisites; recommended for those with basic procurement knowledge or work experience |
| Official Syllabus URL: | https://www.cips.org/qualifications/diploma-in-procurement-supply/commercial-negotiation |
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The Chartered Institute of Procurement and Supply (CIPS) Level 4 Module 5 (L4M5) certification exam is a globally recognized qualification that demonstrates proficiency in commercial negotiation skills. Commercial Negotiation certification is ideal for procurement and supply chain professionals seeking to advance their careers and enhance their negotiation skills. The CIPS L4M5 Certification is a valuable asset for professionals who want to thrive in the competitive world of procurement and supply.
NEW QUESTION # 277
A negotiation meeting commences with the supplier asking the buyer 'How do you feel about the service you receive from us currently?', followed by 'What do you think about our latest products?' and 'How do we compare with other suppliers you use?' The supplier is using which type of questions?
Answer: A
Explanation:
Open questions begin with "how," "what," "why," etc., and are designed to encourage detailed responses. The supplier's questions are open-ended and aim to gather comprehensive feedback, which can inform better mutual understanding and potential deal improvements.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 3.3 - Questioning Styles in Negotiation
NEW QUESTION # 278
Which of the following is considered a strength of a 'logical' style negotiator?
Answer: D
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 logical style are described below:
Table Description automatically generated
NEW QUESTION # 279
In general, which of the following is the consequence of a flatter demand curve?
Answer: D
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 as very inelastic.
The formulae of elasticity:
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Table Description automatically generated with medium confidence
LO 2, AC 2.2
NEW QUESTION # 280
When is the best time to adopt accommodating style according to Thomas-Kilmann conflict mode instrument?
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 # 281
Which of the following is mostlikely to be a reason why a supplier charges its customer higher price after it has reached the break-even point?
Answer: C
Explanation:
Explanation
'Supplier may want to encourage buyer's demand': the buyer tends to prefer lower price, if supplier wants to encourage its customers tobuy more, it needs to offer discount at bulk amount. So this option is not acceptable.
'Supplier may have high fixed cost - variable cost ratio': Supplier with high fixed cost needs high volumes to break even, but once achieved, it may be able to offer significant discounts for bulk orders
'The supplier may have reached economy of scale': when economy of scale is reached, cost per unit will be minimal which often leads to more favourable price.
'Supplier may need to open new facilities to meet increasing customer's demand': Increasing customer's demands may excess supplier's current capacity. Therefore, supplier may need to extend its capacity by investing more in facilities. To cover these fixed cost investment, supplier may charge higher price.
LO 2, AC 2.1
NEW QUESTION # 282
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