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Latest L4M5 Test Format, L4M5 Actual Dump

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To prepare for the CIPS L4M5 Certification Exam, candidates can enroll in training courses and study materials offered by CIPS. These courses cover the knowledge and skills required for the exam and provide candidates with the opportunity to practice these skills in a simulated commercial negotiation environment. CIPS also offers online resources, including practice exams and study guides, to help candidates prepare for the exam.

CIPS L4M5 exam, also known as Commercial Negotiation, is a crucial qualification for professionals who are involved in procurement and supply chain management. L4M5 exam is one of the key modules of the CIPS Level 4 Diploma in Procurement and Supply, which is a highly respected qualification in the industry. The Commercial Negotiation module is designed to equip procurement professionals with the necessary skills and knowledge to effectively negotiate commercial contracts and agreements with suppliers and vendors.

CIPS L4M5 (Commercial Negotiation) Exam is an essential certification for professionals seeking to advance their careers in the field of procurement and supply chain management. L4M5 exam is designed to test a candidate's understanding of the principles of negotiation and their ability to apply these principles in commercial contexts. The CIPS L4M5 Exam is known for its rigorous and comprehensive nature, making it highly respected within the industry.

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CIPS Commercial Negotiation Sample Questions (Q130-Q135):

NEW QUESTION # 130
A buying organisation with a low spend and the reputation for paying late might be viewed by a supplier as which of the following?

• A. Core
• B. Exploit
• C. Nuisance
• D. Develop

Answer: C

Explanation:
To answer this question, you should know The seller's perspective as in 'How to Negotiate Professionally':
Chart, treemap chart Description automatically generated

In the scenario, the buyer's spend is low, while they seem unattractive to seller (as they tend to pay late). So the buyer is classified as Nuisance in seller's perspective.

NEW QUESTION # 131
Maria is a professional services category buyer within the National Health Service. Due to the severe financial budget cutbacks the National Health Service is facing, the procurement team has been tasked with achieving cost savings so that funding available can be spent on patient care. Maria plans to achieve savings with one of her collaborative suppliers. Which negotiation approach should she undertake?

• A. Win-Perceived Win
• B. Lose-Lose
• C. Win-Win
• D. Win-Lose

Answer: C

Explanation:
The Win-Win approach is the most appropriate negotiation strategy in situations where collaboration and ongoing relationships are prioritized. In this case:
Achieving cost savings: The NHS aims to reduce expenses in order to reallocate funds to critical areas, making it essential that both parties work together to find cost-effective solutions.
Collaborative supplier relationship: Since Maria is working with a collaborative supplier, maintaining a positive relationship through mutual benefit is essential for continued cooperation.
Alignment with public service objectives: A Win-Win outcome aligns with the NHS's broader objectives of maximizing resources for patient care, as it ensures that savings are achieved without undermining the supplier's commitment to quality service.
This approach aligns with CIPS guidelines for maintaining productive, ethical partnerships in procurement, especially in critical sectors like healthcare.

NEW QUESTION # 132
A procurement professional is preparing for a negotiation with supplier. She is setting targets for price which her company is seeking to achieve. Which of the following acronyms can help her identify limits before engaging in the negotiation?

• A. PPCA
• B. TIMWOOD
• C. RAQSCI
• D. MIL

Answer: D

Explanation:
:
MIL criteria indicate 3 limits that negotiator should establish:
M - Must achieve: minimum target/maximum you can concede on this point; the mandatory requirement or fall back position I - Intend to achieve: realistic target you are aiming for on this point L - Like to achieve: stretch target to achieve on this point.
PPCA is purchase cost analysis
TIMWOOD indicates 7 types of waste in Lean principles
The RAQSCI model is a mnemonic summary of a business model used to define and structure business requirements

NEW QUESTION # 133
Which of the following is the true statement?

• A. Commercial negotiation objectives should be driven by just the instincts of procurement
• B. Internal stakeholder support will be important for both negotiation and contract performance
• C. External stakeholders such as suppliers can largely influence an organisation's procurement negotiations
• D. All connected stakeholders have a low level of impact on procurement negotiations

Answer: B

Explanation:
Internal stakeholder support will be important not just at the initial negotiation of the contract, but potentially throughout the life of the contract right through to exit.
As a general rule, connected stakeholders (with the exception of suppliers) have a low level of influence on procurement negotiations.
Suppliers are connected stakeholders who have contractual relationships with the organisation.
Commercial negotiation objective should be driven by thebusiness needs of the organisation, and not just the instinct of procurement.

NEW QUESTION # 134
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 know the point at which the supplier would reject the offer
• B. 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
• C. The buyer would be able to get a comprehensive picture of supplier's efficiency
• D. The buyer would be able to know the right volume to reach break-even point

Answer: D

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.

NEW QUESTION # 135
......

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