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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Commercial Negotiation |
| Exam Number: | L4M5 |
| Exam Duration: | 120 minutes |
| Passing Score: | 70% (typical CIPS objective test pass mark) |
| Available Languages: | English |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Certificate Validity Period: | CIPS qualifications do not typically expire once awarded |
| Real Exam Qty: | 60 (typical objective test format) |
| Exam Format: | Multiple-choice questions, Computer-based objective test |
| Recommended Training: | CIPS Learning Support CIPS Official Study Resources |
| Exam Registration: | Find a CIPS Exam Centre / Booking CIPS Qualifications Information |
| Sample Questions: | CIPS L4M5 Sample Questions |
| Exam Way: | Computer-based exam (online proctored or test centre depending on provider) |
| Pre Condition: | No formal prerequisites, but CIPS Level 3 or equivalent knowledge is recommended as part of progression to Level 4 Diploma. |
| Official Syllabus URL: | https://www.cips.org/qualifications-and-training/level-4-diploma-in-procurement-and-supply/ |
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The Chartered Institute of Procurement and Supply (CIPS) L4M5 certification exam is designed to test the knowledge and skills of professionals in the field of commercial negotiation. Commercial Negotiation certification is recognized globally and is highly respected within the procurement and supply chain industry. L4M5 Exam covers various topics related to commercial negotiations, including negotiation strategies, legal considerations, and communication skills.
NEW QUESTION # 306
A procurement manager has decided to bring in a junior member of their team to a negotiation meeting.
Which of the following would be suitable roles for this junior member of the team?
Answer: A
NEW QUESTION # 307
The buyer's bargaining power tends to be relatively higher than supplier's bargaining power in which of the following circumstances?
Answer: A
NEW QUESTION # 308
Which of the following are rules of attentive listening? Select TWO that apply.
Answer: B,E
Explanation:
Hearing is passive but listening is active, and some people need to learn to be a good, attentive listener. The following rules of attentive listening will help you to become a successful negotiator:
* Be motivated to listen
* Be alert to non-verbal cues
* Do not interrupt the other party when they are speaking
* Fight off distractions
* Write everything down
* Listen with a goal in mind
* Give the other party your undivided attention
* React to the message, not the person
LO 3, AC 3.3
NEW QUESTION # 309
Which of the following is definition of elasticity of demand in microeconomics?
Answer: B
Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor:
The price of a product can be described as being elastic if a small change in price leads to a big change in demand.
The price of a product can be described as being inelastic if a big change in price leads to a small change in demand.
The formulae of elasticity of demand is known as the following:
Text Description automatically generated with low confidence
NEW QUESTION # 310
Cost and price analysis is very important for buyers when they are preparing for a negotiation with supplier.
Which of the following is a benefit of knowing supplier's fixed costs?
Answer: B
Explanation:
Explanation
Knowing supplier's fixed and variable costs is beneficial for the buyer in a negotiation. With these insights, the buyer would know the volume atwhich the supplier reaches break-even points and then offers significant discount due to economies of scale.
NEW QUESTION # 311
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