EXAM DISCOUNT CIPS L4M5 VOUCHER & TEST L4M5 TOPICS PDF

Exam Discount CIPS L4M5 Voucher & Test L4M5 Topics Pdf

Exam Discount CIPS L4M5 Voucher & Test L4M5 Topics Pdf

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Tags: Exam Discount L4M5 Voucher, Test L4M5 Topics Pdf, L4M5 Study Materials Review, L4M5 Valid Study Questions, Exam L4M5 Bootcamp

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The CIPS L4M5 Exam consists of two parts: Part A and Part B. Part A is a multiple-choice exam, which assesses the candidate's understanding of the theoretical aspects of commercial negotiation. It covers topics such as negotiation planning, negotiation styles, tactics and strategies, and the legal and ethical aspects of negotiation. Part B is a written exam, which tests the candidate's practical skills in negotiating complex commercial agreements.

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CIPS - Marvelous L4M5 - Exam Discount Commercial Negotiation Voucher

As far as our L4M5 study guide is concerned, the PDF version brings you much convenience with regard to the following advantage. The PDF version of our L4M5 learning materials contain demo where a part of questions selected from the entire version of our L4M5 Exam Quiz is contained. In this way, you have a general understanding of our L4M5 actual prep exam, which must be beneficial for your choice of your suitable exam files.

The Chartered Institute of Procurement and Supply (CIPS) L4M5 exam is one of the challenging and advanced certification exams for professionals who work in the procurement and supply chain management field. The L4M5 is also known as Commercial Negotiation, which is a vital skill for procurement professionals to master. L4M5 exam focuses on providing advanced techniques and knowledge required for negotiating commercial deals effectively. The test is centered on increasing the capacity of candidates to master various negotiation techniques, as well as to apply the knowledge they have gained to real-world procurement scenarios.

CIPS L4M5 (Commercial Negotiation) Exam is known for being one of the most challenging exams in the procurement and supply chain management field. It requires candidates to demonstrate a deep understanding of the negotiation process, as well as the ability to apply that knowledge in real-world situations. To pass the exam, candidates must show that they are capable of analyzing complex information, identifying potential areas of conflict, and developing effective strategies to resolve disputes and reach mutually beneficial agreements.

CIPS Commercial Negotiation Sample Questions (Q107-Q112):

NEW QUESTION # 107
Which type of question should be used to receive affirmation on statement?

  • A. Open
  • B. Narrow
  • C. Leading
  • D. Closed

Answer: D

Explanation:
:
Different questioning styles can be used to elicit desired responses:
Text Description automatically generated


NEW QUESTION # 108
Lina Rawlins is a senior buyer working for a medical equipment company. Lina is in charge of the company's largest supplier account, Great Barrington Gas (GBG), a medical equipment supplier. Recently GBG's performance has declined, which has led to an increasing number of rejected items. Lina is aware of the seriousness of this, given the nature of the item, and has asked GBG to attend an urgent meeting. In the meeting, Lina asked the GBG representative "Can you tell me exactly what you are doing to ensure quality?" What type of question is Lina asking?

  • A. Hypothetical
  • B. Reflective
  • C. Leading
  • D. Probing

Answer: D


NEW QUESTION # 109
Rose is a senior buyer from a skiing equipment retailer. Rose is concerned about the current ski boot shortage and the number of invoicing problems from a key supplier. She has decided to have a video conference with Victor, CEO of the supplier. Initially, she intends to threaten Victor with contract termination unless he can improve the situation. However, she is a little wary of doing this as the switching costs are high. Eventually, she decides to seek solutions by encouraging the other party to offer their views and ideas. Rose also prepares some ideas to discuss with Victor. Which of the following is the persuasion method that Rose intends to use in the forthcoming conference?

  • A. Persuasive reasoning (push)
  • B. Directive (push)
  • C. Visionary (pull)
  • D. Collaborative (pull)

Answer: D

Explanation:
There are two major persuasion methods: 'push' and 'pull'.
Persuasion can be defined as encouraging someone to do something that you want them to do for you.
Persuasion is reasoning with someone so that they will believe or do something they might not otherwise do.
Persuasion can be considered as 'pushing' on TOP so that they can accept the change in attitude or behaviour as a result of your actions.
Influence is the ability to affect the manner of thinking of another. Influence can be considered as pulling on TOP so that you achieve the same result, but TOP feels they have changed their attitude or behaviour as a result of their reflection and thinking, and not your direct actions.
There are multiple variables to consider when choosing between 'push' and 'pull'. Professor Fiona Dent of Ashridge Business School proposes situations when each style might be most appropriate, breaking down push into 'directive' and 'reasoning' and 'pull' into 'collaborative' and 'visionary':
Table Description automatically generated

In the scenario, Rose intends to let both parties exchange their views and ideas so that solutions to current problems can be found. This is the typical characteristic of collaborative (pull) method.


NEW QUESTION # 110
Which of the following tactics would be appropriate in an integrative negotiation?

  • A. Mother Hubbard
  • B. Lowball/Highball
  • C. Expanding the Pie
  • D. Take it or leave it

Answer: C


NEW QUESTION # 111
An oil refinery plant imports much of its crude oil from overseas. A procurement manager in the refinery suggests that fixing the crude oil contract price for 36 monthswould be beneficial for the company. Would this be a right thing to do?

  • A. No, fixed price should be only applied to contracts that last 60 months or longer
  • B. Yes, financial budgeting task would be a lot easier with fixed pricing arrangement
  • C. No, the refinery would not be able to reap the benefits from falling commodity price and currency rates
  • D. Yes, the supplier would bear the risk when the material price increased

Answer: C

Explanation:
Explanation
Fixed price contract is the contract in which the price is static throughout the contract period. A fixed-price contract may give certainty to budget and simplify contract management. However, it may lead to other problems since it requires bidders to estimate and bear the financial risks associated with price escalations. If the estimates are too high or events do not materialize, the buyer will pay a steep price that may affect the economy and efficiency of the contract. In the worst case, it may mean that the bid price is then above budget and may lead to a reduction in the requirements or rebidding. If the estimates are too low, it may appear as an abnormally low bid and disrupt contract execution.
On the other hand, price adjustment provisions include formulas designed to address problems, and can protect both theborrower and contractors from price fluctuations. Price adjustment formulas allow contractors to offer more realistic prices at the time of bidding. Despite concerns that they may lead to budget uncertainties, price adjustment formulas will estimate the actual cost implications that will be encountered. They use indexes that can be used for cost projection.
According to Asia Development Bank (ADB), any contract with a delivery or completion period beyond 18 months should contain an appropriate price adjustment clause.
In the scenario, the crude oil contract is planned to last 36 months. This period is pretty long with a fluctuating commodity. Therefore, the company should use price adjustment agreement.


NEW QUESTION # 112
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Test L4M5 Topics Pdf: https://www.lead2passed.com/CIPS/L4M5-practice-exam-dumps.html

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