THE LATEST CIPS CERTIFICATION L4M5 EXAM TRAINING METHODS

The latest CIPS Certification L4M5 exam training methods

The latest CIPS Certification L4M5 exam training methods

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The Commercial Negotiation (L4M5) practice questions (desktop and web-based) are customizable, meaning users can set the questions and time according to their needs to improve their discipline and feel the real-based exam scenario to pass the CIPS L4M5 Certification. Customizable mock tests comprehensively and accurately represent the actual CIPS L4M5 certification exam scenario.

CIPS L4M5 Certification Exam is suitable for individuals who are involved in commercial negotiations, either as buyers or sellers, and who want to improve their negotiation skills. L4M5 exam covers a range of topics, including negotiation planning, strategies and tactics, communication, ethics and legal issues, and relationship management. By passing the exam, candidates demonstrate their ability to negotiate effectively in a variety of commercial situations, and to create value for their organizations through successful negotiations.

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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.

CIPS L4M5 certification program covers a wide range of topics related to commercial negotiation, including communication skills, negotiation tactics, contract management, and dispute resolution. The program is designed to provide professionals with a comprehensive understanding of the negotiation process and the tools and techniques needed to achieve successful outcomes. The CIPS L4M5 Certification program is highly regarded in the industry and is recognized by employers around the world as a mark of excellence in commercial negotiation.

CIPS Commercial Negotiation Sample Questions (Q87-Q92):

NEW QUESTION # 87
Which of the following are examples of variable costs?
Building and site rent
Annual insurance premium
Raw materials expenditure
Delivery costs for materials

  • A. 1 and 3
  • B. 1 and 4
  • C. 3 and 4
  • D. 2 and 3

Answer: C

Explanation:
Raw materials expenditure (3) and delivery costs for materials (4) are variable costs as they fluctuate with production levels. Variable costs vary directly with the volume of production, unlike fixed costs such as rent or insurance, in line with CIPS's classifications of cost types in procurement.


NEW QUESTION # 88
Which of the following should be done by the procurement team at the closing stage of a negotiation? Select TWO that apply.

  • A. Leave the meeting as soon as possible
  • B. Tell TOP that they could have got a better deal
  • C. Accept ambiguity or uncertainty
  • D. Gloat publicly about the deal
  • E. Seek agreement in principle if TOP does not have the final authority

Answer: A,E

Explanation:
The agreement and closing phase is the phase when it is either clear through explicit language, or strongly suggested through non-verbal signals, that TOP is ready to move to agreement. Judging when to close can be difficult and as with phases of the negotiation, experience, observation, practice and reflection will be the best ways to learn here.
In the closing phase, procurement should:
- Watch for closing/buying signals
- Check to ensure all issues have been resolved
- Consider using visual aids to summarise
- Use 'summary close'
- Make a decision to conclude/close
- Seek agreement in principle if TOP does not have the final authority
- Make your own private notes on the final agreement
- Shake hands on the agreement
- Leave the meeting as soon as possible thereafter.
LO 3, AC 3.1


NEW QUESTION # 89
Active listening in negotiation includes which of the following activities?
1. Hearing
2. Interpreting
3. Rapport
4. Influence

  • A. 3 and 4 only
  • B. 2 and 3 only
  • C. 1 and 3 only
  • D. 1 and 2 only

Answer: D

Explanation:
Listening is a hugely important skill in the world of work. It's a key part of effective communication [...].
Regarding active listening, there is a model called 'The SIER Hierarchy of Active Listening'. It details four key stages required for effective listening. As with all models associated with active listening, its purpose is to help the listener be a better, more effective listener who really hears what is being said, connects with the individual with whom they are communicating and builds effective relationships.
The model is a hierarchical model meaning that each stage builds on the stage before it. While the model is sometimes used for training in the sales arena, it is helpful in all walks of life. The stages of the model are:
Sensing (including hearing and watching body language), Interpreting, Evaluating and Responding.
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NEW QUESTION # 90
Which of the following are intangible values created by trust in business relationships? Select TWO that apply.

  • A. Positive feedbacks from customers
  • B. Higher revenues
  • C. Frequent conflict escalation
  • D. Increasing response time to request
  • E. More focus oncore business

Answer: A,E

Explanation:
Explanation
Trust may create value as following:
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LO 1, AC 1.4


NEW QUESTION # 91
In airline industry, suppliers prefer to adopt dynamic pricing in order to constantly monitor and change their fares in response to market conditions. Dynamics pricing is based on which costing method?

  • A. Cost plus costing
  • B. Marginal costing
  • C. Activity-based costing
  • D. Absorption costing

Answer: B

Explanation:
:
Dynamic pricing is the practice of dynamically calculating the price of a product or service in order to incorporate real-time market conditions, input costs, and/or competitive perspectives. Dynamic pricing which is based on marginal costing, is used by airlines and many other organisations.
Marginal cost is the cost of producing an additional unit of output. Marginal Costing is a costing technique wherein the marginal cost, i.e. variable cost is charged to units of cost, while the fixed cost for the period is completely written off against the contribution.


NEW QUESTION # 92
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