CIPS certification L4M5 the latest examination questions and answers come out

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CIPS L4M5 Exam Syllabus Topics:

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

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CIPS Commercial Negotiation Sample Questions (Q132-Q137):

NEW QUESTION # 132
Which type of question should be used to receive affirmation on statement?

Answer: B

Explanation:
Different questioning styles can be used to elicit desired responses:
Text Description automatically generated


NEW QUESTION # 133
Which of the following are most likely to be sources of conflict that can emerge from the process of commercial negotiations? Select TWO that apply.

Answer: A,D

Explanation:
:
There are multiple sources of divergent positions that can arise in situations where money is exchange for goods and services. There are 2 different types of sources. Those that arise from the content or subject matter of the negotiation (what is being negotiated) and those that arise from the process of negotiation (how it is being negotiated).
Sources of divergent positions - the process of negotiation:
Table Description automatically generated

Line of best fits is the line that goes approximately through the middle of the data points with an equal number of data points above and below it. Line of best fits is a method of calculating medium value in statistics.
Standard terms and conditions are basic terms and conditions of business governing transactions that do not have a definitive contract, usually designed to be included in form documents such as orders. While there may be conflicts regarding standard terms and conditions, they are about the content of negotiation, not the process.
Type of purchase: when buying organisation makes an decision to purchase an item, a buyer is faced with three possible scenarios. The item to be bought could be a straight re-buy, a modified re-buy or a new purchase. Decision on type of purchase is purely an internal decision.


NEW QUESTION # 134
A buyer is approaching a negotiation where the company is in a low-power negotiating position in relation to the supplier. How can the buyer improve leverage and power with the supplier?

Answer: D

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.3 - Sources of Power in Negotiation


NEW QUESTION # 135
Which of the following are most likely to help buyer become preferred customer in supplier's perspective?
Select TWO that apply.

Answer: B,E

Explanation:
Explanation
Becoming a preferred customer to supplier's perspective can increase the purchaser's leverage in negotiation.
Beside the size of buying organisation or its spend, the following may be sufficient to differentiate the buyer from other buying organisations:
- Simple procurement processes
- Simple contracting processes
- Clear and concise documentation
- Absence of onerous supplier terms and conditions (onerous supplier terms and conditions mean that obligations imposed on suppliers are greater than their gains)
- On-time payment: The reduction in hassle for both supplier and the buyer, if bills are paid on time, is significant. From the customer's perspective it could also be the opener to agreeing preferential payment terms. A supplier may weigh up that payment on time at 60 days is worth taking, over the current 30-day terms that slip to 90 days and beyond.
-Transparent processes
- Ethical behavior
LO 1, AC 1.3


NEW QUESTION # 136
Should a buyer use closed questions in a negotiation?

Answer: D

Explanation:
:
Asking questions the right way is both an art and a science. Ask the question the wrong way, and the other negotiator might act like a turtle, becoming defensive and withdrawing into their shell. Ask the question the right way, and the other negotiator might "spill the beans.".
Closed Questions: How and when to use them?
Closed questions are those that require a short and focused answer, and are especially helpful in the beginning stages of the negotiation to encourage interaction. They can be used to clarify a point, or to reconfirm certain facts. For example, you can use a closed question to confirm the amount of units the company can produce in a week, or to clarify that what they are really saying is that they don't feel comfortable outsourcing their accounts to India. Most closed questions only require a simple "yes" or "no" response, so there really isn't much room for misinterpretation - great for finding out where both you and they stand.


NEW QUESTION # 137
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