CIPS L4M5 Certification Dumps, L4M5 Training Questions

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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
Know how to prepare for negotiations with external organisations35%- Economic and market factors
  • 1. Supply and demand conditions
  • 2. Inflation, exchange rates and risk factors
  • 3. Market structure and competition
- Cost and price analysis
  • 1. Types of costs and pricing structures
  • 2. Cost modelling and price analysis techniques
- Planning and resources
  • 1. Team roles and preparation plans
  • 2. Information gathering and market intelligence
- Negotiation criteria and objectives
  • 1. Defining measurable outcomes
  • 2. Prioritising issues and trade-offs
Understand how commercial negotiations should be undertaken30%- Tactics and influencing methods
  • 1. Managing concessions and deadlocks
  • 2. Persuasion and influencing techniques
  • 3. Cultural and ethical considerations
- Review and improvement
  • 1. Evaluating results and performance
  • 2. Documenting agreements and lessons learned
- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
- Communication skills
  • 1. Non-verbal communication and emotional intelligence
  • 2. Active listening and questioning
Understand key approaches in the negotiation of commercial agreements with external organisations35%- Power dynamics in negotiation
  • 1. Relationship types and their effect on negotiation
  • 2. Sources of power and influence
  • 3. Impact of power balance on outcomes
- Types of negotiation approaches
  • 1. BATNA, target setting and reservation price
  • 2. Distributive / competitive (win-lose)
  • 3. Pragmatic and principled negotiation styles
  • 4. Collaborative / integrative (win-win)
- Application of commercial negotiations in procurement and supply
  • 1. Position within the CIPS procurement cycle
  • 2. Sources and management of conflict
  • 3. Team and stakeholder management in negotiation
  • 4. Definitions and purpose of commercial negotiation

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CIPS Commercial Negotiation Sample Questions (Q354-Q359):

NEW QUESTION # 354
According to Professor Gavin Kennedy, in which of the following forms of dispute resolution, both parties will voluntarily exchange their ideas and beliefs?

Answer: C

Explanation:
:
Professor Gavin Kennedy highlights that we need to distinguish negotiation from other forms of decision- making by focusing on what is unique about it (the voluntary exchange) and not shared by other techniques such as persuasion, gambling (e.g., coin tossing), command decision, instruction, litigation and coercion.


NEW QUESTION # 355
Which of the following are most likely to be indirect costs of a garment manufacturer? Select THREE that apply.

Answer: B,C,D

Explanation:
:
Indirect costs are those cost that are not directly attributable to production. Examples of indirect costs including the following:
Indirect labour: This covers every person in the factory who does not directly perform a production operation such as managers, supervisors, engineers, store personnel, clerks, maintenance staff, porters, canteen staff, security and cleaners etc.
Expenses: Included in this element is every fixed and variable expenses incurred in operating the factory, such as rent, rates, utilities, insurance, depreciation, maintenance, air conditioning and the various types of energy generation required by a clothing factory.
Indirect materials: Also known as consumables, this element contains all the materials not directly connected to the makeup of a garment. Some of the typical items involved are office materials, spare parts, marker paper, maintenance materials, chalk & pins.
Direct costs are those costs of a product/service directly attributable/traceable to its production. Examples of direct costs including the following:
Direct Materials: Direct materials are all the materials and trimmings which go into the construction and finish of the garment. Typically, these materials would include cloth, lining, fusible, zips pads, tapes, labels, tickets, hangers and packaging materials.
Direct Labour: This cover the cost of all the labor directly involved in producing the garment and could include cutting, fusing, regular sewing, special machine operations, pressing, finishing, inspection and packing. Labor of all types and grade has a direct overhead which include holiday pay, sick pay, fringe benefits etc and the statutory payments made by the employer for each employee. This is usually expressed as a percentage of salary and when this percentage is added to the employee's wage, it becomes the basis for calculating direct labor costs.


NEW QUESTION # 356
Colin Smith is preparing to negotiate for a chemical used in fertiliser. His organisation's objective is ethical and sustainable procurement. Using the Must-Intend-Like (MIL) framework, how should Colin categorise this objective?

Answer: D

Explanation:
In MIL planning, "Musts" are non-negotiable requirements (policy, law, mandatory standards). Ethical
/sustainable procurement is typically a policy/legislative compliance requirement, so it belongs in Must;
"Intend/Like" cover important and desirable aims respectively.
Reference: CIPS L4M5 (2nd ed.), LO 2.2 - Negotiation planning tools (MIL), objectives hierarchy, compliance vs value adds.


NEW QUESTION # 357
Which of these personal power bases stems from the manager's position in the organisation and the authority that lies in that position?

Answer: C

Explanation:
Explanation
Legitimate power comes from the belief that a person has the formal right to make demands, and to expect others to be compliant and obedient. Legitimate power comesfrom rules, formal authority, organisation rank, staff grade or official position held. In commercial negotiation, legitimate power can be demonstrated by job title and rank.
LO 1, AC 1.3


NEW QUESTION # 358
Champion Toys (CT) is negotiating a large order of luxury toys with its supplier. CT has identified that lead times, order quantities, and delivery locations are tradeables that could be used in this negotiation. At which negotiation stage should CT introduce these tradeables?

Answer: A

Explanation:
Tradeables-alternative offers or concessions-are typically introduced during thebargainingstage of the negotiation. This is when both parties discuss and exchange proposals to reach a mutually acceptable agreement.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 3.2 - Use of Tradeables in Negotiation Stages


NEW QUESTION # 359
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