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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Commercial Negotiation |
| Exam Number: | L4M5 |
| Available Languages: | English |
| Real Exam Qty: | 60 |
| Exam Duration: | 90 minutes |
| Related Certifications: | L4M9 Purchasing Practice L4M2 Defining Business Need L4M3 Commercial Contracting L4M4 Ethical and Responsible Sourcing L4M6 Supplier Relationships L4M8 Procurement and Supply Operations L4M1 Scope and Influence of Procurement and Supply L4M7 Whole-Life Asset Management |
| Passing Score: | 50% |
| Exam Price: | £63 (UK member), £84 (non-member), varies by region |
| Certificate Validity Period: | Valid for life upon completion of full diploma |
| Exam Format: | Multiple Choice, Objective Response, Scenario-based |
| 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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CIPS L4M5 Certification Exam is recognized by leading organizations in the procurement and supply chain industry. It is also endorsed by the International Federation of Purchasing and Supply Management (IFPSM), which is a global organization that represents the procurement and supply chain profession. Commercial Negotiation certification demonstrates a candidate's commitment to the profession and their dedication to improving their skills and knowledge.
NEW QUESTION # 273
Which of the following are common forms of collaborating approach in Thomas-Kilmann conflict resolution model? Select THREE that apply.
Answer: B,D,E
Explanation:
:
Collaborating is both assertive and cooperative. When collaborating, an individual attempts to work with the other person to find a solution that fully satisfies the concerns of both. It involves digging into an issue to identify the underlying concerns of the two individuals and to find an alternative that meets both sets of concerns. Collaborating between two persons might take the form of exploring a disagreement to learn from each other's insights, resolving some condition that would otherwise have them competing for resources, or confronting and trying to find a creative solution to an interpersonal problem.
NEW QUESTION # 274
In what circumstances is the bargaining power of suppliers likely to be high, in relation to buyer power?
Select the THREE that apply:
Answer: A,B,E
Explanation:
Reference: CIPS L4M5 Study Guide, Section 2.3 - Market Factors and Analysis
NEW QUESTION # 275
Which of the following are internal factors when a supplier is making its pricing decision?
Answer: C
Explanation:
Reference: CIPS L4M5 Study Guide, Section 2.2 - Cost and Price Analysis
NEW QUESTION # 276
Logibox Ltd sets prices based on what consumers are prepared to pay. Which pricing strategy is this?
Answer: A
Explanation:
Market pricing sets prices according to consumer demand and willingness to pay, ensuring competitiveness.
Skimming sets high prices at launch to maximise early profit, penetration uses low prices to enter markets, and premium pricing positions products as luxury with high margins. Market pricing balances supplier costs with customer value perception, making it a common approach in competitive industries.
Reference: CIPS L4M5 (2nd ed.), LO 1.2 - Pricing strategies in negotiation contexts.
NEW QUESTION # 277
When considering a new supply source for a product, a procurement professional reviews supplier quotations before negotiation. Which of the following is a direct cost in the supplier's quotation?
Answer: D
Explanation:
Direct costs are those directly attributable to the production of a unit - such as raw materials, components, and direct labour. Here, the metal used is a clear direct cost, as it varies with production output. Rent, insurance, and sales wages are indirect (overhead) costs, which must be allocated across products.
Understanding this distinction is vital in negotiations, since direct costs are easier to challenge for efficiency gains, while indirect allocations may be arbitrary. Buyers with clear knowledge of cost breakdowns can negotiate more effectively, avoiding inflated pricing.
Reference: CIPS L4M5 (2nd ed.), LO 2.2 - Cost analysis: direct vs indirect costs in supplier quotations.
NEW QUESTION # 278
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