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CIPS L4M5 (Commercial Negotiation) Certification Exam is a professional qualification designed to provide individuals with the skills and knowledge required to negotiate successful commercial contracts. L4M5 exam is offered by the Chartered Institute of Procurement and Supply (CIPS), which is a leading global organization that promotes best practices in procurement and supply chain management. The CIPS L4M5 Exam is suitable for individuals who work in procurement, supply chain, and commercial roles, as well as those who wish to enhance their negotiation skills.

CIPS Commercial Negotiation Sample Questions (Q333-Q338):

NEW QUESTION # 333
Which of the following is a disadvantage of absorption costing method?

Answer: B

Explanation:
Absorption costing is an approach to allocating overheads in which indirect costs are loaded or absorbed into direct costs related to specific jobs, processes or outputs, using an estimated basis of allocation.
Graphical user interface, text, chat or text message, website Description automatically generated


NEW QUESTION # 334
Mike is a junior buyer who has been working for a manufacturing organisation for two years, specializing in purchasing research. Over this time, he has built good relationships within his team and with other departments. Which of the following sources of power is Mike most likely to possess?

Answer: D

Explanation:
Referent power is based on personal relationships and the respect or admiration one earns within an organization. Given Mike's positive relationships and his rapport with team members and other departments, he is most likely to have referent power. This power type is influential in negotiation as people are more willing to work with someone they respect, as outlined in CIPS power dynamics in negotiation.


NEW QUESTION # 335
Effective listening is important in integrative negotiations. Is this statement correct?

Answer: B

Explanation:
Effective listening is crucial in integrative negotiations as it fosters mutual understanding and helps identify shared interests, leading to collaborative solutions. It enables negotiators to comprehend the other party's needs and concerns fully.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 3.3 - Communication Skills in Negotiation


NEW QUESTION # 336
In what circumstances is the bargaining power of suppliers likely to be high, in relation to buyer power?
Select THREE that apply.

Answer: A,C,D

Explanation:
Supplier bargaining power is stronger when there arefew suppliers,low volume requirementsfrom buyers, and when suppliers possessunique capabilities or technology(like specialized machinery). These conditions reduce buyer leverage and increase supplier influence.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 2.3 - Market Structures and Bargaining Power


NEW QUESTION # 337
There are no commitments in hypothetical questions. Is this statement true?

Answer: A

Explanation:
There are four types of questions that can be used in a commercial negotiation:
Hypothetical questions, where you ask about a possible situation or abstract concept, are very useful at the testing and proposal phases. Hypothetical question does not state any commitment as it is only about 'if something happens, then ...'. This type of question can be useful at giving suggestion.
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LO 3, AC 3.3


NEW QUESTION # 338
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