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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Commercial Negotiation |
| Exam Number: | L4M5 |
| Exam Price: | £63 (UK member), £84 (non-member), varies by region |
| Passing Score: | 50% |
| Exam Duration: | 90 minutes |
| Certificate Validity Period: | Valid for life upon completion of full diploma |
| Available Languages: | English |
| Exam Format: | Multiple Choice, Objective Response, Scenario-based |
| Related Certifications: | L4M1 Scope and Influence of Procurement and Supply L4M8 Procurement and Supply Operations L4M6 Supplier Relationships L4M3 Commercial Contracting L4M7 Whole-Life Asset Management L4M9 Purchasing Practice L4M4 Ethical and Responsible Sourcing L4M2 Defining Business Need |
| Real Exam Qty: | 60 |
| 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 (Commercial Negotiation) Exam is a professional qualification designed for individuals who are interested in developing their skills and knowledge in commercial negotiation. L4M5 exam is offered by the Chartered Institute of Procurement and Supply (CIPS), which is a leading global professional body for procurement and supply chain management. The CIPS L4M5 Exam is one of the most comprehensive and widely recognized qualifications in the field of commercial negotiation, and it covers a broad range of topics, including negotiation planning, techniques, strategies, and tactics.
NEW QUESTION # 175
IHL has been supplying to XYZ Ltd for months. XYZ Ltd procurement manager Diana realises that the IHL's input prices are dropping and this is a good time to re-negotiate the price of the contract. She invites IHL representative to XYZ headquarter to make a bargain on the current price. At the opening stage of the negotiation, Diana requests a 10% reduction in price with an increase in volume purchased.
Is Diana's action appropriate in the opening phase?
Answer: B
Explanation:
:
The opening stage of the negotiation covers the very first few minutes when the parties meet and greet each other and are seated in the negotiation room in preparation for the main event.
Typical behaviours at the opening stage: 'dos' and 'don'ts'
Do's
Be punctual and well presented (welcome their arrival)
Break the ice with small talks
Start the conditioning process
Check authority
Check agenda
Consider using visual aid to set out key objectives or make key points
Don'ts
Use strong, pushy, cold or tough style at the opening
Put down marker at this stage
Criticise other organisations/TOP's previous contacts/third parties.
In this scenario, Diana has made her proposal right at the opening stage. This is an example of 'don'ts'. Good negotiators are very careful about 'red lines'. If she puts such barrier up too early, the supplier may not try to look for more creative solutions later in the negotiation.
NEW QUESTION # 176
Where a market consists of a large producer of a product with high market power, it is known as:
Answer: D
NEW QUESTION # 177
In a detailed cost breakdown, a company has a salary cost of 9%, raw materials cost 51% and overheads cost
24%. Which of the following represents the mark-up of that company?
Answer: C
Explanation:
Mark-up is the amount added to the cost of an item to get to its selling price and is expressed as a percentage.
Mark-up (%) = (Price - Cost) / Cost x 100
= (100 - 9 - 51 - 24) / (9 +51 +24) x 100 = 16 / 84 x 100 = 19.04%
LO 2, AC 2.1
NEW QUESTION # 178
Which of the following is a source of information on microeconomic factors?
Answer: A
Explanation:
Microeconomic factors concern the conditions specific to suppliers, buyers, and markets - such as supplier communications, annual reports, and industry-specific data. These provide insight into cost structures, capacity, and competitive positioning. Macroeconomic factors, by contrast, include inflation indices (RPI), financial market trends, or global commodity prices. Distinguishing between micro and macro sources allows negotiators to build more precise intelligence for supplier discussions.
Reference: CIPS L4M5 (2nd ed.), LO 1.2 - Micro vs macroeconomic factors in negotiation preparation.
NEW QUESTION # 179
In order to mitigate all risks involved in the negotiation process, the buyer only needs to undertake pre- negotiation research on the supply market and establish a BATNA. Is this a correct suggestion?
Answer: A
NEW QUESTION # 180
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