CIPS L4M5 FREE EXAM: COMMERCIAL NEGOTIATION - PREP4SUREREVIEW ENSURE YOU PASS EXAM

CIPS L4M5 Free Exam: Commercial Negotiation - Prep4SureReview Ensure you Pass Exam

CIPS L4M5 Free Exam: Commercial Negotiation - Prep4SureReview Ensure you Pass Exam

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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.

CIPS L4M5: Commercial Negotiation exam is designed to prepare candidates for effective negotiation practices in the purchasing industry. L4M5 Exam assesses a candidate's ability to identify key factors in a negotiation process, interpret and apply negotiation theories, and employ negotiation strategies. Candidates will be required to showcase their understanding of informed decision-making, developing and maintaining relationships, and the management of the negotiation process.

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CIPS Commercial Negotiation Sample Questions (Q230-Q235):

NEW QUESTION # 230
Which type of question should be used to receive affirmation on statement?

  • A. Open
  • B. Narrow
  • C. Closed
  • D. Leading

Answer: C

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


NEW QUESTION # 231
SBL provides contract bathroom furniture and fittings for a wide variety of domestic and commercial clients.
To some suppliers, SBL spend claims a large portion of their revenue. But SBL is famous for imposing draconian obligations on these suppliers. Which of the following is most likely to be overarching objective of these suppliers to SBL?

  • A. Win and keep business with SBL at any costs, even without profits
  • B. Hold on and keep SBL happy but make sure that the business is profitable
  • C. Drop the business with SBL immediately
  • D. Charge a higher price to compensate for all the pain SBL has put

Answer: D

Explanation:
:
According to Paul Steele's 'The Seller's Perspective', customer can be classified into 4 categories as below:
Chart, treemap chart Description automatically generated

In this scenario, although SBL's spend claims large portion in suppliers' revenues, their draconian treatment will reduce SBL's attractiveness in supplier's perspective. SBL falls into Exploit quadrant. With exploitable customers, suppliers tend to 'milk' the customer and charge a high price to compensate for all the pain customer put on them.


NEW QUESTION # 232
Before engaging in a negotiation with a supplier of rechargeable lights, procurement team tries to visualise the breakdown of supplier's costs to calculate its break-even point. They estimate that total fixed expenses related to rechargeable electric light are $270,000 per month and variable expenses involved in manufacturing this product are $126 per unit. The supplier charges its customer $180 per unit. Within its current capacity, this supplier will make a profit at which of the following?

  • A. More than 5,000 units are sold monthly
  • B. Exactly 5,000 units are sold per month
  • C. Exactly 1,500 units are sold monthly
  • D. More than 1,500 units are sold monthly

Answer: A

Explanation:
The analysis of cost into fixed and variable enables organisations to determine their break-even point (BE) - the point where total revenue from sales and total cost exactly balance. All costs need to be covered by sale revenue in order for a company to make a profit. If you know your fixed costs and your variable costs then you can work out the minimum quantity of goods or services you need to sell to break even. Break even point is measured in volume and can be worked out graphically or via formulae:
Price - Variable costs = Contribution
Break even point (volume) = Fixed expenses/Contribution margin per unit In this scenario, the break even point (Q) is: 270,000/(180-126) = 5,000 To make a profit, the supplier needs to sell more than 5,000 units per month.
The BE point is thus an important determinant of flexibility of pricing for suppliers. Before BE is achieved there will be much greater reluctance to offer price concessions to customers than after BE is achieved.
LO 2, AC 2.1


NEW QUESTION # 233
A procurement manager has been asked to procure 1,000 pens. He suggests to his manager that to obtain the best value for money, they should undertake a competitive bidding process. Would this be the best course of action?

  • A. No, competitive bidding should only be used when the value justifies the time spent on the process
  • B. Yes, as all procurement processes should go through competitive bidding to achieve the best value for money
  • C. No, competitive bidding should only be used in public sector organisations
  • D. Yes, the process will be opened up to many suppliers and therefore will result in a cheaper price for the pens

Answer: A

Explanation:
Competitive bidding is generally recommended for high-value or complex purchases where the cost and time required for the bidding process are justified. For low-value, routine items like pens, the time and resources required for competitive bidding may outweigh the potential cost savings, as noted in CIPS best practices.
Hence, Option C is the best answer.


NEW QUESTION # 234
The stages of commercial negotiation involve which of the following characteristics?

  • A. Opening, debating, promising, testing, disagreeing, closing
  • B. Preparing, opening, bargaining, agreement, closure
  • C. Open, testing, bargaining, closing, revisiting
  • D. Preparation, proposal, bargain, leave

Answer: B

Explanation:
The typical stages of commercial negotiation are Preparing, opening, bargaining, agreement, and closure. This sequence facilitates a structured approach where negotiators prepare strategies, initiate discussions, engage in bargaining, reach agreements, and formally close the negotiation. This structure is emphasized in CIPS materials as essential for achieving a balanced negotiation process.


NEW QUESTION # 235
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