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CIPS L4M5 Certification Exam is a valuable credential for procurement professionals seeking to advance their negotiation skills. L4M5 exam provides candidates with a comprehensive understanding of negotiation strategies, techniques, and approaches, enabling them to effectively negotiate commercial agreements. With the global recognition of the CIPS certification, successful candidates can enhance their career prospects and demonstrate their competence to potential employers.

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To prepare for the CIPS L4M5 Certification Exam, candidates should have a good understanding of the procurement process and negotiation principles. They should also have experience in negotiating contracts and agreements. There are various training programs and resources available to help candidates prepare for the exam, including online courses, study guides, and practice exams. With the CIPS L4M5 Certification, procurement professionals can demonstrate their expertise in commercial negotiation and enhance their career prospects in the field of procurement.

CIPS Commercial Negotiation Sample Questions (Q135-Q140):

NEW QUESTION # 135
XYZ Ltd decides to go to market for a cleaning contract to service a number of offices. It knows that it will get a price which may, or may not, be better than the one it is currently paying. To gain leverage in the marketplace, the organisation decides to add other related services to the scope, such as gardening, security and maintenance, which increase the value of the contract. This is an example of which forms of spend consolidation?

A. Purchasing consortia
B. Volume redistribution
C. Volume pooling
D. Volume consolidation across categories

Answer: D

Explanation:
Buying organisation may increase its leverage with suppliers by concentrating spend. Supplier spend consolidation can take many forms as outlined below:
- Vendor base reduction: straightforward reduction of number of suppliers in any category
- Volume pooling: pooling cross organisational requirement until your order volume is high enough to attract new bidders/additional discounts
- Volume redistribution: making recommendations following spend analysis to move from one supplier to another
- Volume consolidation across categories: certain purchase requirements may be common across a number of categories. In the scenario, XYZ has combined different categories but closely related to office services into a larger contract so that they can increase their leverage.
- Standardisation and harmonisation of specifications: analysis of specifications and standards for a high spend purchased input, may show that there is a little difference between them and that the specification can be standardised or at least harmonised across the group or across national, regional or global operations.
- Forming purchasing consortia: buyers may decide to come together and combine their purchase volumes to attract better deals.
LO 1, AC 1.3

NEW QUESTION # 136
Which of the following are typical characteristics of activity-based costing (ABC) method? Select TWO that apply.

A. Costs are allocated based on volume
B. Limited understanding of true costs incurred
C. Variable and all related overhead expenses are specifically assigned to a business activity
D. ABC has tended to over cost products on long runs and under cost those on short runs
E. ABC provides the information required to take action and realise improvements

Answer: C,E

Explanation:
:
Activity-based costing is an alternative approach to traditional absorption costing. The characteristics of these two methods are illustrated in the graph below:
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NEW QUESTION # 137
In general, which of the following is the consequence of a flatter demand curve?

A. Price inelastic
B. Quantity elastic
C. Unit price elastic
D. Price elastic

Answer: D

Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor.
In microeconomic graphs, elasticity and inelasticity can be shown by the slope of the demand curve. If a demand curve is almost horizontal, then the product pricing can be described as very elastic. If a demand curve is almost vertical, then the product pricing can be described as very inelastic.
The formulae of elasticity:
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LO 2, AC 2.2

NEW QUESTION # 138
Professional buyer is planning for the next negotiation of a simple one-off contract. This negotiation is typified by which of the following? Select TWO that apply.

A. Pricing is the most important criterion
B. Vendor ratings will be used
C. Continuous dialogue with supplier
D. Arm's-length approach
E. Total cost of ownership is the most important criterion

Answer: A,D

Explanation:
:
Professional buyers, when planning or engaging in negotiation with suppliers, should always be aware of where the intended and actual relationship with this supplier is positioned on the 'spectrum' or 'continuum' of commercial relationships. The relationship spectrum describes the range of commercial relationships between a buyer and supplier based on richness of communication, longevity and mutual dependence.
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In the question, the contract is simple one-off (or spot buy), which means the relationship will likely to be more transactional. In such relationship, price is the most important criteria and buyer may adopt arm's-length approach.

NEW QUESTION # 139
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?

A. No, the buyer should make preparations in other areas such as determining the negotiation team
B. Yes, establishing a fallback position is important because it signifies that the negotiations will reach an impasse
C. No, the buyer should also keep the top management and all employees informed
D. Yes, because the market price should be the target price of the negotiations

Answer: A

NEW QUESTION # 140
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