VALID L4M5 TEST NOTES & L4M5 LATEST TEST QUESTIONS

Valid L4M5 Test Notes & L4M5 Latest Test Questions

Valid L4M5 Test Notes & L4M5 Latest Test Questions

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Tags: Valid L4M5 Test Notes, L4M5 Latest Test Questions, Exam L4M5 Revision Plan, L4M5 Reliable Exam Preparation, L4M5 Valid Exam Bootcamp

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CIPS L4M5 Exam is suitable for individuals who are involved in procurement, supply chain management, sales, marketing, and any other commercial roles that require negotiation skills. L4M5 exam is particularly beneficial for those who are looking to enhance their negotiation skills and improve their ability to achieve successful outcomes in commercial negotiations. The CIPS L4M5 Exam is designed to help individuals develop a thorough understanding of the negotiation process, and it provides them with the tools and techniques needed to negotiate effectively in a wide range of commercial settings. Overall, the CIPS L4M5 Exam is an essential qualification for anyone who is interested in advancing their career in procurement, supply chain management, sales, or marketing.

To be eligible for the CIPS L4M5 Certification program, individuals must have completed the CIPS L4M4 (Commercial Relationships) certification program or have equivalent experience in procurement and supply chain management. The CIPS L4M5 certification exam is a rigorous assessment of a candidate's knowledge and skills in commercial negotiation. L4M5 exam consists of multiple-choice questions and case studies that test a candidate's ability to apply their knowledge and skills in real-world scenarios.

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CIPS L4M5 Latest Test Questions - Exam L4M5 Revision Plan

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CIPS Commercial Negotiation Sample Questions (Q198-Q203):

NEW QUESTION # 198
Commercial negotiations on prices cover a range of aspects including pricing arrangements. A buyer may negotiate for a 'fixed price agreement'. Why is a fixed price agreement advantageous to the buyer?

  • A. The buyer will not need to monitor the supplier's costs relating to the contract
  • B. Suppliers always seek price agreements that include cost-sharing incentives
  • C. The buyer will benefit from the savings that the supplier makes from the efficient cost management of the contract
  • D. Suppliers calculate prices using fixed costs which the buyer must counteract by pushing for a fixed price agreement

Answer: A

Explanation:
Afixed price agreementprovides the buyer withcost predictability. Once the price is agreed upon, the buyer is insulated from any cost increases on the supplier's side. The supplier bears the risk of fluctuating input prices, which simplifies cost control and contract administration for the buyer.
"With a fixed price arrangement, the buyer is protected from future price increases and does not need to monitor the supplier's ongoing costs. This is particularly useful for budgeting and forecasting." (L4M5 Commercial Negotiation, 2nd edition, Section 2.1 - Fixed Price Agreements)


NEW QUESTION # 199
Jayden works as a procurement manager for a large IT organisation. They are currently in their third round of negotiations with an increasingly frustrated software solutions provider. Ben is representing the supplier.
Jayden has made eye contact in the latest meeting to confirm his understanding of each of Ben's points. What communication technique is Jayden demonstrating?

  • A. Bargaining
  • B. Asserting authority
  • C. Effective listening
  • D. Emotional intelligence

Answer: C


NEW QUESTION # 200
Freefields Housing Authority (FHA) is a housing provider that has outsourced a range of management services using fixed-price long-term contracts. FHA's regular supplier credit reviews have identified that some key outsourced service suppliers are at risk of insolvency due to high inflation rates observed in the macroeconomic climate. Which of the following actions would enable FHA to reduce this risk for the lifetime of the affected contracts?

  • A. End the contracts and procure the services
  • B. Offer advance payment terms to the affected suppliers
  • C. Introduce indexation of contracts linked to the Consumer Prices Index
  • D. Allow affected suppliers to review and resubmit their fixed costs

Answer: C

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.1 - Types of Commercial Relationships


NEW QUESTION # 201
Cost and price analysis is very important for buyers when they are preparing for a negotiation with supplier.
Which of the following is a benefit of knowing supplier's fixed costs?

  • A. The buyer would be able to get a comprehensive picture of supplier's efficiency
  • B. The buyer would be able to know the right volume to reach break-even point
  • C. The buyer would be able to know the point at which the supplier would reject the offer
  • D. With the sole understanding of supplier's fixed cost, the buyer would be able to know the volume at which supplier maximises their profit in short-run

Answer: B

Explanation:
Knowing supplier's fixed and variable costs is beneficial for the buyer in a negotiation. With these insights, the buyer would know the volume at which the supplier reaches break-even points and then offers significant discount due to economies of scale.
Reference: CIPS study guide page 80-81
LO 2, AC 2.1


NEW QUESTION # 202
A good negotiator invests time in understanding the needs of the individuals in a negotiation. Is this statement true?

  • A. No, because satisfying individual needs will lead to conflict of interest and unethical practices
  • B. No, because negotiator should attempt to satisfy the needs of the other organisation only
  • C. Yes, because individual needs largely influence the outcomes of the negotiation
  • D. Yes, because individuals' needs always unify with their own organisation's needs and wants

Answer: C

Explanation:
:
Skilled negotiators seek to understand the needs of the other parties, as well as their own. In doing so, it allows them to determine a strategy that their own needs are met. Failing to understand the other party's needs is one of the most common reason for an unsuccessful negotiation. In the commercial negotiation, procurement team does not negotiate with organisation, they negotiate with individuals. It is therefore important to recognise that there are two levels of needs:
The organisation - What the organisation wants to achieve. This is generally well stated and understood The individual - what is in it for the individual? This is generally not stated, rarely discussed, but very motivational. It is vitally important therefore that time is invested in understanding the needs of the individual Skilled negotiators are aware of the needs that occur at both levels, and develop creative options and strategies that attempt to satisfy these needs.


NEW QUESTION # 203
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