L4M5 Practice Questions
Commercial Negotiation
Last Update 4 days ago
Total Questions : 395
Dive into our fully updated and stable L4M5 practice test platform, featuring all the latest CIPS Level 4 Diploma in Procurement and Supply exam questions added this week. Our preparation tool is more than just a CIPS study aid; it's a strategic advantage.
Our free CIPS Level 4 Diploma in Procurement and Supply practice questions crafted to reflect the domains and difficulty of the actual exam. The detailed rationales explain the 'why' behind each answer, reinforcing key concepts about L4M5. Use this test to pinpoint which areas you need to focus your study on.
Which of the following are typical characteristics of activity-based costing (ABC) method? Select TWO that apply.
Graphical user interface, text, chat or text message, website Description automatically generatedWhy is the use of power important for integrative commercial negotiations?
Moving negotiations forward when they get stuck on certain issues
Maximising the share of value gains for the negotiator's side
Coercion of the other party into a submissive agreement
Breaking through negotiation barriers related to attitude
Any commercial negotiation process has only three potential stakeholders: procurement, the budget holders, and the users. Is this TRUE?
John is in a negotiation with a supplier. They have decided that their future
relationship will be long term, built on trust and respect, and that gains and risk
will be shared between the parties. The parties will also share ideas and
collaborate on those ideas. Which of the following is this type of relationship?
According to Mendelow’s Matrix, how should stakeholders with high interest but low power be managed?
Which of the following are stages of a win-win approach to negotiations?
Find out where the interests of both parties align
Design new options, where everyone gets more of what they need
Limit the resources to a fixed number
Insist that the agreement includes subjective regulatory standards
A break-even analysis uses which aspects as part of the calculation?
Fixed cost
Buying cost minus variable cost per unit
Variable cost
Selling price minus variable cost per unit
Sunita’s supplier states: “Meeting your needs is meeting my needs because we are in this together.” What type of negotiation is being undertaken?
Understanding supplier's mark-up and margin can provide procurement professional a comprehensive insight into supplier's net profits. Is this statement true?
