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| Certification Vendor: | CIPS |
|---|---|
| Exam Name: | Commercial Negotiation |
| Exam Number: | L4M5 |
| Real Exam Qty: | 60 (typical objective test format) |
| Exam Format: | Computer-based objective test, Multiple-choice questions |
| Available Languages: | English |
| Passing Score: | 70% (typical CIPS objective test pass mark) |
| Exam Duration: | 120 minutes |
| Certificate Validity Period: | CIPS qualifications do not typically expire once awarded |
| Related Certifications: | CIPS Level 4 Diploma in Procurement and Supply |
| Recommended Training: | CIPS Learning Support CIPS Official Study Resources |
| Exam Registration: | CIPS Qualifications Information Find a CIPS Exam Centre / Booking |
| 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/ |
The CIPS L4M5 certification is one of the hottest career advancement credentials in the modern CIPS world. The L4M5 certification can help you to demonstrate your expertise and knowledge level. With only one badge of L4M5 certification, successful candidates can advance their careers and increase their earning potential. The CIPS L4M5 Certification Exam also enables you to stay updated and competitive in the market which will help you to gain more career opportunities.
CIPS L4M5 certification exam consists of five units, each with its own specific learning outcomes. These units cover a range of topics, including the principles of negotiation, the negotiation process, the legal and ethical aspects of negotiation, and the importance of building long-term relationships with suppliers. The CIPS L4M5 certification exam is designed to provide professionals with a broad understanding of commercial negotiation and to equip them with the skills and knowledge needed to excel in their roles.
CIPS L4M5 (Commercial Negotiation) Certification Exam is designed for procurement and supply chain professionals who want to specialize in commercial negotiation. L4M5 exam is based on the latest industry practices and standards and is recognized worldwide as a mark of excellence in the procurement profession. Commercial Negotiation certification is ideal for individuals who want to advance their career in procurement and supply chain management and gain a competitive edge in the job market.
NEW QUESTION # 171
A purchasing organisation is discussing its approach to an upcoming negotiation with a key supplier over a contract for critical new services. They have decided they want to find a Win/Win (integrative) solution.
Which TWO of the following would be appropriate in this scenario?
Answer: B,E
Explanation:
In a Win/Win or integrative negotiation approach, the goal is to achieve mutual benefit, which is characterized by a collaborative environment. According to CIPS principles on integrative negotiation:
Collaboration (A): Actively working together enables both parties to find solutions that maximize joint gains and address the needs of both sides.
Problem solving (B): Focusing on problem-solving allows both parties to address the issues at hand rather than competing over positions, facilitating a solution that satisfies both parties' needs.
By emphasizing collaboration and problem-solving, the organization increases the likelihood of a successful, sustainable agreement that respects both parties' interests.
NEW QUESTION # 172
A procurement professional is negotiating with a supplier on cleaning service. She realises that there are huge cost-saving opportunities if the supplier agrees to reduce its mark-up and unnecessary employee benefits.
Supplier's mark-up and employee benefits are examples of which of the following?
Answer: D
Explanation:
A key consideration when seeking to negotiate prices is to establish what proportion of the spend is addressable by procurement action such as negotiation. Addressability of spend is influenceable through negotiations or application of other saving effort or leverage with suppliers.
LO 2, AC 2.1
NEW QUESTION # 173
A new manager has been appointed with responsibility for an organisation's category which has major impact on organisational cost base and there are little competitions in the supply market. They have an objective to improve supplier cost structures over time. Which of the following should they carry out first?
Answer: B
Explanation:
The objective of the buyer here is to improve supplier cost structures over time, which requires them to have insight into supplier's current cost information. Purchase price cost analysis (PPCA) can help here. PPCA is a method for gathering, analysing and using price and cost information in asystematic way. The process allows the identification of future savings and opportunities to improve current costs.
STEEPLE analysis is used to analyse the macro environment that may have impact on an organisation.
Competitive rivalry is a part ofPorter's Five Forces which is a tool for strategy making.
Volume concentration is a way to increase the purchasing quantities in order for a buying organisation to improve its leverage in negotiation.
NEW QUESTION # 174
Which of the following are examples of variable costs?
* Building and site rent
* Annual insurance premium
* Raw materials expenditure
* Delivery costs for materials
Answer: B
Explanation:
Variable costs fluctuate with production volume - e.g., raw materials and delivery costs. Fixed costs such as rent and insurance remain constant regardless of output. In negotiations, suppliers may inflate fixed cost allocations to justify pricing; buyers should differentiate between fixed and variable costs to challenge pricing more effectively. Recognising true variable costs also allows negotiating for volume-related discounts.
Reference: CIPS L4M5 (2nd ed.), LO 2.2 - Cost structure: variable vs fixed costs in pricing analysis.
NEW QUESTION # 175
Which of the following is a disadvantage of absorption costing method?
Answer: A
Explanation:
Absorption costing is an approach to allocating overheads in which indirect costs are loaded or absorbed into direct costs related to specific jobs, processes or outputs, using an estimated basis of allocation.
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NEW QUESTION # 176
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