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One of the key benefits of the CIPS L4M5 certification exam is that it is recognized globally as a mark of excellence in commercial negotiation. Commercial Negotiation certification can help individuals to stand out in a crowded job market and demonstrate their expertise to potential employers. It can also provide a pathway for career advancement within the procurement and supply chain field.
The CIPS L4M5 Exam Format consists of a three-hour paper-based assessment, which includes multiple-choice questions, short-answer questions, and case studies. To pass the exam, candidates must achieve a minimum of 50% marks. L4M5 exam is offered globally, and candidates can take it at any CIPS-approved test center or remotely.
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CIPS L4M5 Exam, also known as Commercial Negotiation, is an important certification for procurement professionals seeking to enhance their negotiation skills. L4M5 exam is designed to test candidates' knowledge and understanding of the principles, techniques, and strategies used in commercial negotiation. It is an essential requirement for procurement professionals who want to excel in their careers and contribute to the growth of their organizations.
CIPS Commercial Negotiation Sample Questions (Q13-Q18):
NEW QUESTION # 13
A procurement team has discussed, in advance of a negotiation, what they will do if there is no agreement with the current supplier. They have decided that they will perform the services themselves in-house on a trial basis if no deal is made. Which of the following describes what they have prepared here?
- A. Walk Away Point
- B. Offer of Agreement
- C. Best Alternative to a Negotiated Agreement
- D. The Bargaining Mix
Answer: C
NEW QUESTION # 14
Which of the following will help to indicate personality preferences in four dimensions?
- A. Thomas-Kilmann Conflict Resolution model
- B. Intelligence quotient
- C. Mill's RESPECT mnemonic
- D. Myers-Briggs Type Indicator
Answer: D
Explanation:
The Myers-Briggs Type Indicator (MBTI) is an introspective self-report questionnaire indicating differing psychological preferences in how people perceive the world and make decisions. MBTI indicates personality preferences in four dimensions.
The Thomas-Kilmann Conflict Mode Instrument (TKI) is a conflict style inventory, which is a tool developed to measure an individual's response to conflict situations.
Mill's RESPECT mnemonic is set out by Harry A. Mills which describes seven steps to agreements An intelligence quotient (IQ) is a total score derived from a set of standardized tests designed to assess human intelligence.
NEW QUESTION # 15
Langham Industries is seeking to expand its operations globally. The CEO has asked the procurement department to engage in a macroeconomic analysis for its potential new supply chain to meet organisational objectives and outcomes. Which of the following would be a source of macroeconomic data?
- A. Online supplier forums
- B. Attending trade conferences
- C. Competitor analysis
- D. Published market indices
Answer: D
Explanation:
Published market indices are a source of macroeconomic data, as they reflect broader economic trends and provide insights into the overall market environment, which is essential for global expansion planning.
Macroeconomic analysis focuses on high-level economic indicators, as recommended in CIPS's guidelines on sourcing macroeconomic data.
NEW QUESTION # 16
A procurement manager is preparing fora negotiation with an important supplier. He plans to withhold some crucial information so that his company gains the upper hand in the negotiation. Is this correct when considering using integrative approach to the negotiation?
- A. No,holding back information will prompt the supplier gain higher negotiation power
- B. Yes, the buying organisation must maximise its gain, even at the detriment of the other party
- C. Yes, the supplier must know what buyer wants and how to provide that even when the buyer is silent on these matters
- D. No, this approach requires honest and open discussion
Answer: D
Explanation:
Integrative negotiation is a negotiation strategy in which the involved parties work together to find a solution that satisfies the needs and concernsof each. This process often involves group brainstorming and creative thinking for individuals to suggest different ideas that benefit both parties.
Compromising is often common in integrative negotiation, and both sides may need to give up certain needs to reach a solution. Honesty can also promote successful integrative negotiation because it can lead to a comprehensive understanding of the issue and what each party needs to be satisfied with the result.
NEW QUESTION # 17
The only procurement risk inherent in a distributive negotiation approach is the potential loss in the outcome.
Is this statement TRUE?
- A. Yes, because in any commercial negotiation there is always a winner and a loser
- B. No, there is a chance of reaching an impasse among other outcomes to such negotiations
- C. Yes, and that is why procurement must seek to engage with suppliers that have less bargaining power
- D. No, both negotiating parties are always committed to ensuring that gains are distributed equally between them
Answer: B
Explanation:
Distributive negotiation carries several risks beyond justlosing out on value. These includedamaging supplier relationships,eroding trust, andreaching an impasse, where neither party can agree. This could result in delayed projects, increased costs, or supplier withdrawal.
"Distributive negotiation can lead to a breakdown in communication, impasses, and long-term relationship damage. The win-lose mindset can prevent collaborative problem-solving." (L4M5 Commercial Negotiation, 2nd edition, Section 3.5 - Risks of Distributive Approaches)
NEW QUESTION # 18
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