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CIPS L4M5 Certification Exam covers a wide range of topics related to commercial negotiation, including negotiation planning, strategy, and tactics, contract law, dispute resolution, and ethical issues. L4M5 exam also covers the latest trends and best practices in the field, such as the use of technology in negotiations, the importance of relationship-building, and the need for effective communication skills.

CIPS L4M5: Commercial Negotiation is an essential exam for procurement professionals who want to master the art of negotiation. L4M5 Exam is part of the Chartered Institute of Procurement and Supply (CIPS) Level 4 Diploma in Procurement and Supply. L4M5 exam is designed to test candidates' ability to negotiate effectively in a commercial environment. Successful completion of L4M5 exam will demonstrate that candidates have the skills and knowledge required to negotiate complex commercial contracts.

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The CIPS L4M5 certification exam is one of the top rated career advancement certification exams in the market. This Commercial Negotiation (L4M5) exam is designed to prove candidates' skills and knowledge levels. By doing this the CIPS L4M5 certificate holders can gain multiple personal and professional benefits. These benefits assist the L4M5 Exam holder to pursue a rewarding career in the highly competitive market and achieve their career objectives in a short time period.

CIPS Commercial Negotiation Sample Questions (Q50-Q55):

NEW QUESTION # 50
Which of the following would cause a demand curve for a good to be price inelastic?

A. The consultancy service
B. There are a great number of substitutes for the good
C. The luxury goods
D. The necessary goods

Answer: D

Explanation:
Explanation
Essential goods andservices such as electricity, fuel, basic food stuffs, commuter transport and habitual products such as tobacco, alcohol and sugar-based drinks are often sited as facing a relatively inelastic demand curve. This means when the price goes up, the quantity demanded does not decrease very much and so they are often the target of government taxation.
LO2, AC 2.2

NEW QUESTION # 51
End users are the only stakeholders that are involved in the preparation of a negotiation. Is this statement true?

A. Yes, because end-users have greater expert power
B. No, because end-users are external stakeholders
C. Yes, because only end-users understand their demand
D. No, because budget holders also play an important role

Answer: D

Explanation:
Commercial negotiation objectives should be driven by the business needs of the organisation. Organisations are made up of different stakeholder groups, some of whom may have different, even conflicting objectives.
From a negotiation perspective, stakeholders can be defined as persons or groups that have interest (or stake) in the outcome of the negotiation you are leading or participating in.
CIPS distinguishes between 3 sets of stakeholders:
- Internal stakeholders
- Connected stakeholders
- External stakeholders
End-users are examples of internal stakeholders. They are the people who will benefit from the purchase of a product or service. However, their interest may conflict with other groups, i.e. the budget controllers whose objective is minimising the expense. In negotiation perspective, procurement should involve different groups of stakeholder.
LO 1, AC 1.1

NEW QUESTION # 52
A supplier's mark-up on all products is 25%. Supplier's profit margin is...?

A. 15%
B. 30%
C. 75%
D. 20%

Answer: D

Explanation:
LO 2, AC 2.1

NEW QUESTION # 53
Which type of power is considered the opposite of coercive power?

A. Expert power
B. Referent power
C. Informational power
D. Reward power

Answer: D

Explanation:
Explanation
The coercive power comes from the belief that a person can punishothers for non-compliance. It can be considered as opposite to reward power, which results from one person's ability to compensate or reward another for compliance.
LO 1, AC 1.3

NEW QUESTION # 54
Should a buyer use closed questions in a negotiation?

A. Yes, because closed questions help to reconfirm certain facts
B. Yes, because they urge the supplier to provide more :
C. No, supplier will consider closed questions as provocation
D. No, the buyer should maximise the use of open questions

Answer: A

Explanation:
:
Asking questions the right way is both an art and a science. Ask the question the wrong way, and the other negotiator might act like a turtle, becoming defensive and withdrawing into their shell. Ask the question the right way, and the other negotiator might "spill the beans.".
Closed Questions: How and when to use them?
Closed questions are those that require a short and focused answer, and are especially helpful in the beginning stages of the negotiation to encourage interaction. They can be used to clarify a point, or to reconfirm certain facts. For example, you can use a closed question to confirm the amount of units the company can produce in a week, or to clarify that what they are really saying is that they don't feel comfortable outsourcing their accounts to India. Most closed questions only require a simple "yes" or "no" response, so there really isn't much room for misinterpretation - great for finding out where both you and they stand.

NEW QUESTION # 55
......

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CIPS L4M5 Authorized Exam Dumps, L4M5 Exam Experience

CIPS L4M5 Exam Experience | Valid L4M5 Cram Materials

CIPS Commercial Negotiation Sample Questions (Q50-Q55):

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