L4M5 Practice Questions | L4M5 Passing Score

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CIPS L4M5 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Understand key approaches in the negotiation of commercial agreements with external organisations	35%	- Types of negotiation approaches 1. Distributive / competitive (win-lose) 2. BATNA, target setting and reservation price 3. Pragmatic and principled negotiation styles 4. Collaborative / integrative (win-win) - 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 - Application of commercial negotiations in procurement and supply 1. Position within the CIPS procurement cycle 2. Definitions and purpose of commercial negotiation 3. Sources and management of conflict 4. Team and stakeholder management in negotiation
Topic 2: Know how to prepare for negotiations with external organisations	35%	- Negotiation criteria and objectives 1. Defining measurable outcomes 2. Prioritising issues and trade-offs - Economic and market factors 1. Supply and demand conditions 2. Market structure and competition 3. Inflation, exchange rates and risk factors - 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
Topic 3: Understand how commercial negotiations should be undertaken	30%	- Review and improvement 1. Documenting agreements and lessons learned 2. Evaluating results and performance - Communication skills 1. Non-verbal communication and emotional intelligence 2. Active listening and questioning - Tactics and influencing methods 1. Managing concessions and deadlocks 2. Cultural and ethical considerations 3. Persuasion and influencing techniques - Stages of negotiation 1. Opening, exploring, bargaining, closing and implementing

Section

Weight

Objectives

Topic 1: Understand key approaches in the negotiation of commercial agreements with external organisations

35%

- Types of negotiation approaches

1. Distributive / competitive (win-lose)
2. BATNA, target setting and reservation price
3. Pragmatic and principled negotiation styles
4. Collaborative / integrative (win-win)

- 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

- Application of commercial negotiations in procurement and supply

1. Position within the CIPS procurement cycle
2. Definitions and purpose of commercial negotiation
3. Sources and management of conflict
4. Team and stakeholder management in negotiation

Topic 2: Know how to prepare for negotiations with external organisations

35%

- Negotiation criteria and objectives

1. Defining measurable outcomes
2. Prioritising issues and trade-offs

- Economic and market factors

1. Supply and demand conditions
2. Market structure and competition
3. Inflation, exchange rates and risk factors

- 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

Topic 3: Understand how commercial negotiations should be undertaken

30%

- Review and improvement

1. Documenting agreements and lessons learned
2. Evaluating results and performance

- Communication skills

1. Non-verbal communication and emotional intelligence
2. Active listening and questioning

- Tactics and influencing methods

1. Managing concessions and deadlocks
2. Cultural and ethical considerations
3. Persuasion and influencing techniques

- Stages of negotiation

1. Opening, exploring, bargaining, closing and implementing

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CIPS Commercial Negotiation Sample Questions (Q321-Q326):

NEW QUESTION # 321
During a negotiation, Jose Gomez, the salesperson for a strategic supplier, states that his sales director will not approve discounts against initial purchases. However, Jose offers a 5% discount against the aftercare package, which will provide the same monetary saving. Sally Pampas requires both the product and the aftercare package and has an objective to achieve a 5% discount off the purchase price. To achieve a win-win (integrative) negotiation, Sally should:

A. Accept the offer of a discount against the aftercare package
B. Decline the offer and walk away from the negotiation
C. Ask Jose to apply a discount against the price
D. Ask Jose to apply the 5% discount against the purchase price

Answer: A

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.2 - Approaches to Negotiation

NEW QUESTION # 322
A procurement professional is preparing for anegotiation with supplier. She is setting targets for price which her company is seeking to achieve. Which of the following acronyms can help her identify limits before engaging in the negotiation?

A. TIMWOOD
B. MIL
C. PPCA
D. RAQSCI

Answer: B

NEW QUESTION # 323
Power is used only in adversarial negotiation situations to secure a 'win' outcome against the other side. Is this statement correct?

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

Answer: A

NEW QUESTION # 324
Lina Rawlins is a senior buyer working for a medical equipment company. Lina is in charge of the company's largest supplier account, Great Barrington Gas (GBG), a medical equipment supplier. Recently, GBG's performance has declined, leading to an increasing number of rejected items. Lina is aware of the seriousness of this and has asked GBG to attend an urgent meeting. In the meeting, Lina asked the GBG representative,
"Can you tell me exactly what you are doing to ensure quality?" What type of question is Lina asking?

A. Reflective
B. Probing
C. Hypothetical
D. Leading

Answer: B

Explanation:
Lina is asking a probing question to gather more detailed information on the actions GBG is taking to address quality issues. Probing questions are intended to delve deeper into a topic and elicit specific details, making them suitable for understanding underlying issues, as per CIPS's negotiation question types.

NEW QUESTION # 325
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 anintegrative 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:
Explanation
According to Thomas-Kilmann conflict model instrument, there are 5 conflict management styles:
Accommodating is an unassertive andcooperative 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 upsocial 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 # 326
......

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