L4M5 Exams | Sample L4M5 Questions Answers

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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Know how to prepare for negotiations with external organisations35%- Negotiation criteria and objectives
  • 1. Defining measurable outcomes
  • 2. Prioritising issues and trade-offs
- Economic and market factors
  • 1. Market structure and competition
  • 2. Supply and demand conditions
  • 3. Inflation, exchange rates and risk factors
- Planning and resources
  • 1. Team roles and preparation plans
  • 2. Information gathering and market intelligence
- Cost and price analysis
  • 1. Cost modelling and price analysis techniques
  • 2. Types of costs and pricing structures
Topic 2: Understand how commercial negotiations should be undertaken30%- Tactics and influencing methods
  • 1. Managing concessions and deadlocks
  • 2. Persuasion and influencing techniques
  • 3. Cultural and ethical considerations
- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
- Communication skills
  • 1. Active listening and questioning
  • 2. Non-verbal communication and emotional intelligence
- Review and improvement
  • 1. Evaluating results and performance
  • 2. Documenting agreements and lessons learned
Topic 3: Understand key approaches in the negotiation of commercial agreements with external organisations35%- Power dynamics in negotiation
  • 1. Sources of power and influence
  • 2. Relationship types and their effect on negotiation
  • 3. Impact of power balance on outcomes
- Application of commercial negotiations in procurement and supply
  • 1. Sources and management of conflict
  • 2. Team and stakeholder management in negotiation
  • 3. Position within the CIPS procurement cycle
  • 4. Definitions and purpose of commercial negotiation
- Types of negotiation approaches
  • 1. Collaborative / integrative (win-win)
  • 2. Distributive / competitive (win-lose)
  • 3. Pragmatic and principled negotiation styles
  • 4. BATNA, target setting and reservation price

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CIPS Commercial Negotiation Sample Questions (Q222-Q227):

NEW QUESTION # 222
Maria, an NHS buyer, needs cost savings due to budget cuts. She plans to achieve savings with a collaborative supplier. Which negotiation approach should she use?

Answer: A

Explanation:
With a collaborative supplier, the appropriate approach is Win-Win (integrative). Both sides aim to create savings while maintaining partnership value. Win-Lose would damage collaboration, while Lose-Lose sacrifices value on both sides. Win-Perceived Win is based on optics rather than actual balance. By adopting a win-win approach, Maria ensures sustainable cost reductions while protecting critical NHS supplier relationships.
Reference: CIPS L4M5 (2nd ed.), LO 1.1 - Win-win strategies in collaborative supplier relationships.


NEW QUESTION # 223
Which of the following are microeconomic factors? Select THREE that apply.

Answer: A,C,E

Explanation:
Microeconomic factors refer to elements that affect individual businesses or sectors rather than the economy as a whole. In this case:
Availability of investors (B): Access to investors impacts capital availability for businesses.
Distribution channels (D): Distribution methods directly influence a business's ability to get products to market.
Levels of competition (F): Competition affects pricing and strategic decisions within specific industries.
Taxation rates, unemployment levels, and inflation rates are considered macroeconomic factors, affecting the economy on a broader scale, as per CIPS's definitions of microeconomic vs. macroeconomic influences.


NEW QUESTION # 224
Which of the following are recognised techniques in contract negotiation? Select THREE that apply.

Answer: A,B,D

Explanation:
The question asks about negotiation techniques which are not present in the book. In this question, there are only 3 recognised techniques:
- Framing and reframing: A frame is an assumption, or set of assumptions, that guides our attention and behavior. Reframing is the ability to identify and significantly change assumptions or perspectives. Framing has a significant impact on the effectiveness of negotiation outcomes and negotiator working relationships.
You can read more on framing and reframing here.
- Anchoring: Anchoring bias is well-known cognitive bias in negotiation and in other contexts. The anchoring bias describes the common tendency to give too much weight to the first number put forth in a discussion and then inadequately adjust from that starting point, or the "anchor." We even fixate on anchors when we know they are irrelevant to the discussion at hand. You can read more on anchoring here.
- Pacing and leading: Pacing and leading is a two-step lever of persuasion. First - You "match your pace" to the person you want to influence in as many ways as possible. You can do this by mimicking the way the person talks, stands, their appearance, etc. You can also mimic less tangible aspects like the way they act, or their emotional state. Second - Once you've set your pace with someone, lead them to whatever decision or behavior you want them to take! You can read more on pacing and leading here.
Reference: CIPS study guide page 163-165
LO 3, AC 3.2


NEW QUESTION # 225
Personal power is only used in distributive approach. Is this statement true?

Answer: D

Explanation:
Power, or more precisely perceptions of power, are critically important in understanding the commercial negotiation process. From a commercial negotiation point of view (under any circumstances, either integrative or distributive approach), CIPS is interested in power from both a personal and organisational perspective.
When you are negotiating on behalf of your employer, you bring the power of your organisation (its brand, reputation and purchasing spend) as well your own personal power (6 sources of personal power, based on French and Raven's power base model) to the negotiation.
In both integrative and distributive approaches, personal power plays an important role. It helps both parties push through negotiating barriers and secure commitment and final agreement LO 1, AC 1.3


NEW QUESTION # 226
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 costsare expenses that change in proportion to business activity or production volume.Raw materialsanddelivery costsdirectly increase as more products are produced. In contrast,rentandinsuranceare fixed costs that remain constant regardless of output levels.
"Variable costs are directly linked to production output. Raw materials and logistics (e.g., delivery) scale with order volume, impacting supplier pricing and buyer negotiations." (L4M5 Commercial Negotiation, 2nd edition, Section 2.1 - Direct and Variable Cost Classifications)


NEW QUESTION # 227
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