CIPS L4M5 VCE & L4M5 exam simulator

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CIPS L4M5 (Commercial Negotiation) certification exam is designed to assess the skills and knowledge of professionals in the field of commercial negotiation. Commercial Negotiation certification is ideal for those who are involved in negotiating contracts, deals, and agreements with suppliers, customers, and other stakeholders. It is also beneficial for those who are responsible for managing procurement and supply chain activities.

CIPS L4M5 exam is an essential certification for procurement professionals seeking to enhance their negotiation skills. It covers a range of topics, including negotiation planning, power and influence, communication skills, and conflict resolution, making it a practical and relevant qualification. L4M5 Exam is recognized globally as a standard of excellence in commercial negotiation, and it is a valuable certification for procurement professionals seeking to improve their career prospects and demonstrate their expertise to potential employers.

CIPS L4M5 exam is an essential qualification for procurement and supply chain professionals who want to advance their careers. It is a globally recognized qualification that demonstrates the candidate's knowledge and skills in commercial negotiation. With this qualification, professionals can negotiate better contracts, manage supplier relationships effectively, and achieve better outcomes for their organizations.

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CIPS Commercial Negotiation Sample Questions (Q121-Q126):

NEW QUESTION # 121
Which of the following are most likely to be direct costs of a steel manufacturer? Select THREE that apply.

A. Coal
B. Scrap metal
C. Seniormanagement salary
D. Hourly production wages
E. Cleaning services
F. Insurance for production lines

Answer: A,B,D

Explanation:
Direct costs are those costs of a product/service directly attributable/traceable to its production. Examples of direct costsincluding the following:
Materials and services bought-in: In steel manufacturer, raw materials are iron ores, scrap metal, coals, etc Labour or wages: money paid to staff for the work involved in producing the product.
Other expenses: other charges incurred that can be specifically attributed to a particular product, batch or service

NEW QUESTION # 122
Which of the following are examples of connected stakeholders in a private organisation? Select TWO that apply.

A. Customers
B. Shareholders
C. Government
D. Local community
E. Media

Answer: A,B

Explanation:
Connected stakeholders are those who, by contractual or commercial relationships, have a significant stake in organisation activity. As a general rule, connectedstakeholder (with the exception of suppliers) have a low level of influence on procurement negotiations.
Examples of connected stakeholders are: suppliers, customers, bank where the organisation opens its account, shareholders.

NEW QUESTION # 123
Which of the following is the most appropriate pricing arrangement in contracts where major inputs are commodities?

A. Standard schedule of rates
B. Cost reimbursable pricingarrangement
C. Price adjustment mechanism
D. Fixed pricing arrangement

Answer: C

Explanation:
In contracts which have major commodity input, the price is determined by market forces with no individual supplier or buyer able to influence it significantly.Prices are much more variable even within long term contracts and seeking a fixed price would create financial risks for both the buyers and the suppliers. It is often intelligent to agree a contract price adjustment mechanism to allow for market price changes so both sides share risk.

NEW QUESTION # 124
JCB is a large manufacturer of heavy machinery. The CPO is going to a negotiation with a Chinese supplier about procuring some major components. He is wondering about balance of power in the negotiation. Which of the following micro factors are most likely to shift the balance of power towards the buying organisation in this commercial negotiation? Select TWO that apply

A. Buyers purchase in small volumes
B. These components are highly standardised
C. Eruption of epidemic in supply market
D. Suppliers are more concentrated than buyer
E. JCB's switching costs are low

Answer: B,E

Explanation:
Explanation
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
- Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical
- Micro level: Porter's five forces:

Diagram Description automatically generated
- One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases buyer's bargaining power. Among 5 answers, only 2 are likely to increase buyer'spower:
- JCB's switching costs are low: Buyer may easily switch its suppliers anytime
- These components are highly standardised: The products are not different any more, buyer may choose to buy from any supplier available.
Other answers cannot be correctbecause:
- Suppliers are more concentrated than buyer: Suppliers are forming oligopoly market, their bargaining power tend to be greater.
- Eruption of epidemic in supply market: this is a macro factor. Eruption of epidemic may cause factories closed and disruptions on supply chain.
- Buyers purchase in small volumes: Buyer will be seen as less potential to suppliers. Buying organisation may have difficulties to deal better price with suppliers.
LO 1, AC 1.3

NEW QUESTION # 125
What is the most likely outcome when two organisations with adversarial relationship negotiate with each other?

A. Win win
B. Win lose
C. Deadlocked
D. Lose lose

Answer: B

Explanation:
An adversarial relationship in purchasing and supply arises when identical or equivalent good or services are available from competing suppliers and buyers/sellers are trying to gain an advantage over each other. Low levels of trust are characteristic of adversarial relationships. The outcome when two organisations with adversarial negotiate is most likely to be win-lose.
Reference:
Adversarial purchasing - Wikipedia
CIPS study guide page 32-35

NEW QUESTION # 126
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