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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Commercial Negotiation |
| Exam Number: | L4M5 |
| Available Languages: | English |
| Certificate Validity Period: | No Expiration |
| Exam Price: | £80 |
| Passing Score: | 70% |
| Exam Format: | Objective Response, Multiple Choice |
| Real Exam Qty: | 60 |
| Exam Duration: | 90 minutes |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Sample Questions: | CIPS L4M5 Sample Questions |
| Exam Way: | Online or at a CIPS approved exam center |
| Pre Condition: | Candidates should ideally be working in or have experience of procurement and supply. No formal pre-requisites, but completion of Level 3 or equivalent experience is recommended. |
| Official Syllabus URL: | https://www.cips.org/qualifications/procurement-and-supply-qualifications/ |
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Successfully passing the CIPS L4M5 Exam demonstrates to employers and peers that the candidate has the expertise and practical skills required to negotiate complex commercial agreements confidently. It also provides a pathway to further professional development and career advancement within the procurement and supply chain domain.
NEW QUESTION # 161
Finding the middle ground between buyer and supplier by moving towards each other's position is a satisfactory way to complete contract negotiations and maintain ongoing relations for future negotiations. Is this statement correct?
Answer: D
Explanation:
Finding a middle ground, also known ascompromise or convergence, is a hallmark of collaborative or integrative negotiation. It allows both parties to secure partial wins, supports longer-term relationships, and promotes ongoing goodwill for future dealings.
"Negotiators must balance assertiveness with cooperation. Meeting halfway can lead to agreements that meet minimum needs of both parties while preserving the relationship." (L4M5 Commercial Negotiation, 2nd edition, Section 1.1 - Collaborative Approaches to Negotiation)
NEW QUESTION # 162
AB Manufacturing seeks to buy a new materials resource planning (MRP) software system. At the 'defining the business need' stage of the procurement cycle, the procurement manager ensured that all the internal stakeholders involved had the power to contribute and sign off on requirements. For the MRP system, the procurement manager consulted the head of production planning of AB Manufacturing. The head of production contributed to demand levels, existing manufacturing planning, and existing staff levels. What type of power does the head of production demonstrate?
Answer: D
Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.3 - Sources of Power in Negotiation
NEW QUESTION # 163
Sumitomo Rubber Industries (SRI) is a Japan-based tyre manufacturer. In order to increase production, SRI is sourcing rubber from Southeast Asian firms. Which of the following micro factors are most likely to shift the balance of power to supplier? Select TWO that apply
Answer: A,B
Explanation:
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical Micro level: Porter's five forces:
Diagram Description automatically generated
One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases supplier's bargaining power. Among 5 answers, only
2 are likely to increase buyer's power:
There are no close substitutes for rubber: the buyer has to buy rubber, not any other material.
Costs of changing suppliers are high: buyer entails a large barrier if they want to switch supplier.
Other answers cannot be correct because:
SRI sets up its own rubber plantation: Buyer secures its own supply
SRI's purchase amount makes significant proportion of supplier revenue: Suppliers are reliant on buyer. If the buyer stops buying from them, they can face serious cash flow problems Rubber from different suppliers is virtually similar: undifferentiated product would shift the power balance towards buyer.
NEW QUESTION # 164
Which of the following are recognised techniques in contract negotiation? Select THREE that apply.
Answer: B,C,E
Explanation:
The question asks about negotiation techniques which are not present in the book. In this question, there are only 3 recognised techniques:
- Framing and reframing: A frame is an assumption, or set of assumptions, that guides our attention and behavior. Reframing is the ability to identify and significantly change assumptions or perspectives. Framing has a significant impact on the effectiveness of negotiation outcomes and negotiator working relationships.
You can read more on framing and reframing here.
- Anchoring: Anchoring bias is well-known cognitive bias in negotiation and in other contexts. The anchoring bias describes the common tendency to give too much weight to the first number put forth in a discussion and then inadequately adjust from that starting point, or the "anchor." We even fixate on anchors when we know they are irrelevant to the discussion at hand. You can read more on anchoring here.
- Pacing and leading: Pacing and leading is a two-step lever of persuasion. First - You "match your pace" to the person you want to influence in as many ways as possible. You can do this by mimicking the way the person talks, stands, their appearance, etc. You can also mimic less tangible aspects like the way they act, or their emotional state. Second - Once you've set your pace with someone, lead them to whatever decision or behavior you want them to take! You can read more on pacing and leading here.
Reference: CIPS study guide page 163-165
LO 3, AC 3.2
NEW QUESTION # 165
Apart from negotiation, which other approaches are available to a buyer to "reach an agreement"?
Select THREE approaches that apply.
Answer: A,E,F
Explanation:
CIPS recognises that agreement can be reached without formal negotiation by using alternative influence- based approaches. Accommodating involves one party yielding to preserve relationships or progress.
Persuasion uses communication, reasoning, and influence to shape the other party's views and decisions.
Problem solving focuses on jointly identifying solutions that address both parties' needs. These approaches are particularly useful where relationships are important or power is balanced. Team management, psychodynamic management, and validation of reporting are not recognised CIPS agreement-reaching approaches within commercial negotiation theory. The ability to choose the correct approach enhances negotiation effectiveness and relationship outcomes.
Reference: CIPS L4M5 Commercial Negotiation (CORE), 2nd edition - LO 3.2: Persuasion, problem solving, and alternative agreement-reaching approaches.
NEW QUESTION # 166
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