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| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
|---|---|
| Exam Name: | Commercial Negotiation |
| Exam Number: | L4M5 |
| Certificate Validity Period: | Valid for life upon completion of full diploma |
| Exam Price: | ยฃ63 (UK member), ยฃ84 (non-member), varies by region |
| Passing Score: | 50% |
| Available Languages: | English |
| Related Certifications: | L4M4 Ethical and Responsible Sourcing L4M8 Procurement and Supply Operations L4M2 Defining Business Need L4M9 Purchasing Practice L4M1 Scope and Influence of Procurement and Supply L4M7 Whole-Life Asset Management L4M3 Commercial Contracting L4M6 Supplier Relationships |
| Exam Format: | Multiple Choice, Objective Response, Scenario-based |
| Real Exam Qty: | 60 |
| Exam Duration: | 90 minutes |
| Recommended Training: | CIPS Approved Training Providers CIPS Official Study Guide L4M5 |
| 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 Exam is suitable for individuals who are involved in procurement, supply chain management, sales, marketing, and any other commercial roles that require negotiation skills. L4M5 exam is particularly beneficial for those who are looking to enhance their negotiation skills and improve their ability to achieve successful outcomes in commercial negotiations. The CIPS L4M5 Exam is designed to help individuals develop a thorough understanding of the negotiation process, and it provides them with the tools and techniques needed to negotiate effectively in a wide range of commercial settings. Overall, the CIPS L4M5 Exam is an essential qualification for anyone who is interested in advancing their career in procurement, supply chain management, sales, or marketing.
NEW QUESTION # 84
John Browne, a junior buyer for a corporation, is analyzing the global supply market before undertaking negotiations and is wondering whether foreign exchange rates are important to factor into his research. Should John consider the foreign exchange rates?
Answer: D
Explanation:
Foreign exchange rates impact import costs, profit margins, and overall turnover when transactions are conducted in foreign currencies. Understanding these fluctuations allows buyers to anticipate changes in purchasing costs, supporting informed decision-making, as highlighted in CIPS guidance on global procurement considerations.
NEW QUESTION # 85
Champion Toys (CT) is negotiating a large order of luxury toys with its supplier. CT has identified that lead times, order quantities, and delivery locations are tradeables that could be used in this negotiation. At which negotiation stage should CT introduce these tradeables?
Answer: D
Explanation:
Tradeables-alternative offers or concessions-are typically introduced during thebargainingstage of the negotiation. This is when both parties discuss and exchange proposals to reach a mutually acceptable agreement.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 3.2 - Use of Tradeables in Negotiation Stages
NEW QUESTION # 86
Tony is undertaking a negotiation with a strategic supplier and is frustrated by the lack of progress. He proposes using threats to get what he wants from the negotiations. Is this the correct course of action?
Answer: A
Explanation:
Using threats is generally inappropriate in strategic supplier negotiations where a long-term, trust-based relationship is required (C). Threatening tactics can damage the relationship and may result in resistance from the supplier. CIPS advocates for collaborative approaches in strategic relationships to foster mutual trust and achieve sustainable agreements.
NEW QUESTION # 87
Which of the following is the purpose of using stakeholder support level scale?
Answer: C
Explanation:
In order to estimate the gap and the progress towards desired level of support, a stakeholder support scale can be used by the procurement internally. The support level scale measures stakeholder commitment. Current support level for the procurement/negotiation objectives should be gained from engagement with key stakeholders. The following is an example of stakeholder support level scale:
LO 1, AC 1.1
NEW QUESTION # 88
If the price of a good is above the equilibrium price, which of the following will happen?
Answer: D
Explanation:
In microeconomics, equilibrium price is determined when the quantity demanded is equal to the quantity supplied at equilibrium price in a market, there will be no shortages and no surpluses. If we combine our supply and demand curves on one graph, the point at which they converge determines the equilibrium price. If the price is set above this price and you read across the graph you will see the supply excess demand and there will be a surplus. In order to reduce this surplus, the price will need to fall. The scenario is illustrated in the graph below:
Chart, line chart Description automatically generated
NEW QUESTION # 89
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