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To prepare for the CIPS L4M5 Exam, candidates are recommended to have completed the CIPS L4M4 (Negotiating and Contracting in Procurement and Supply) module, which provides a solid foundation in negotiation theory and practice. Additionally, candidates should have practical experience in negotiating commercial contracts and be familiar with the legal and regulatory requirements that govern commercial transactions.
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CIPS L4M5 Certification Exam is an essential qualification for professionals who are involved in commercial negotiation. It is recognized globally as a mark of excellence in this field and provides candidates with the knowledge and skills necessary to succeed in negotiating commercial contracts and agreements. With the right preparation and study materials, candidates can successfully pass the exam and demonstrate their expertise in this critical area of procurement and supply chain management.
NEW QUESTION # 356
Which of the following will shift the supply curve to the right?
Answer: D
Explanation:
The following graph shows the factors that shift the supply curve to the left and to the right.
Diagram Description automatically generated with medium confidence
NEW QUESTION # 357
Lina Rawlins, a senior buyer, asks a supplier: "Can you tell me exactly what you are doing to ensure quality?" What type of question is this?
Answer: D
Explanation:
A probing question seeks deeper information, clarifying specifics beyond surface-level responses. Lina's question is factual, detailed, and investigative - designed to uncover processes and commitments.
Hypothetical questions test options ("what if..."), reflective restate or summarise to confirm understanding, and leading steer the respondent toward a desired answer. Probing is essential in negotiations to validate claims, identify risks, and build persuasive arguments.
Reference: CIPS L4M5 (2nd ed.), LO 3.2 - Questioning techniques: probing, hypothetical, leading, reflective.
NEW QUESTION # 358
At the first stage of CIPSProcurement and Supply Cycle (Understand need), which of the following is the most important duty of procurement professional?
Answer: C
Explanation:
At the first stage of CIPS Procurement and Supply Cycle (Understand need and develop a high-level specification), procurement professional mainly negotiate with internal stakeholders. They have a duty toproportionately and constructively challenge specification if there's genuine doubt over the need or how the need is expressed. This is called demand management. Their first duty is to the organisation's treasury, not to functional managers.
Demandmanagement including: negotiation/challenge between procurement and internal stakeholders over the need/requirement/specification. Remember that in any process or product, the greatest opportunity for cost reduction is at the design stage.
NEW QUESTION # 359
Which of the following will shift the supply curve to the right?
Answer: D
Explanation:
Explanation
The following graph shows the factors that shift the supply curve to the left and to the right.
Diagram Description automatically generated with medium confidence
NEW QUESTION # 360
When is the best time in procurement process in which procurement should get involved so that the cost- saving opportunities are the greatest?
Answer: D
Explanation:
The earlier procurement get involved in the procurement processes, the better. If procurement are involved in design at the specification stage they can feed in prices and costs to designer so they know the likely budget implication of choices made. Sending in a procurement team to negotiate at or close to the end of the procurement process effectively ties their hands and limits their negotiation leverage. This is illustrated in the graph below:
Chart Description automatically generated
LO 2, AC 2.1
NEW QUESTION # 361
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