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Latest CIPS L4M5 Test Answers & Pass L4M5 Test

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CIPS L4M5 Exam is highly respected by employers and is recognized as a mark of excellence in the field of commercial negotiation. It is a valuable asset for procurement and supply chain professionals, as well as sales and marketing professionals who engage in negotiations on a regular basis. Commercial Negotiation certification also provides a pathway to further professional development, such as the CIPS L5M6 (Commercial Strategy and Contract Management) Certification Exam, which focuses on the strategic aspects of commercial negotiation.

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CIPS Commercial Negotiation Sample Questions (Q114-Q119):

NEW QUESTION # 114
Which of these personal power bases stems from the manager's position in the organisation and the authority that lies in that position?

A. Legitimate power
B. Expert power
C. Reward power
D. Coercive power

Answer: A

Explanation:
Explanation
Legitimate power comes from the belief that a person has the formal right to make demands, and to expect others to be compliant and obedient. Legitimate power comesfrom rules, formal authority, organisation rank, staff grade or official position held. In commercial negotiation, legitimate power can be demonstrated by job title and rank.
LO 1, AC 1.3

NEW QUESTION # 115
Which of the following are most likely to be direct costs of a steel manufacturer? Select THREE that apply.

A. Cleaning services
B. Scrap metal
C. Insurance for production lines
D. Hourly production wages
E. Coal
F. Seniormanagement salary

Answer: B,D,E

Explanation:
Direct costs are those costs of a product/service directly attributable/traceable to its production. Examples of direct costsincluding the following:
Materials and services bought-in: In steel manufacturer, raw materials are iron ores, scrap metal, coals, etc Labour or wages: money paid to staff for the work involved in producing the product.
Other expenses: other charges incurred that can be specifically attributed to a particular product, batch or service

NEW QUESTION # 116
During a negotiation, the supplier requests for payment term shortened to 45 days from 60 days. Seeing that this proposal lies within the concession plan, the procurement manager asks for 5% discount in return. Is that right thing to do?

A. Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status
B. No, it is unethical to exploit the weakness of the other party
C. No, procurement should insist the payment term remains 60 days
D. Yes, the procurement manager should keep that 5% for himself because that amount is a fair compensation for his effort

Answer: A

Explanation:
When preparing for a negotiation, negotiator should establish a list of tradeables and a concession plan. Good negotiators never give anything away that has not already been planned as part of the bargaining mix in the concession planning stage.
In the above scenario, the procurement manager has planned his own concession, so he can trade with supplier. The answer should be "Yes, since procurement manager has his own cost savings target to achieve and he should make use of supplier's financial status" Table Description automatically generated

LO 2, AC 2.3

NEW QUESTION # 117
The purpose of ongoing supplier relationship management following a negotiation and contract award is that it:

A. 1 and 2 (Enables the buyer to monitor supplier performance and persuade the supplier to renegotiate better terms)
B. 2 and 3 (Enables the buyer to persuade the supplier to renegotiate better terms and work with the supplier to resolve relationship problems)
C. 1 and 3 (Enables the buyer to monitor supplier performance and work with the supplier to resolve relationship problems)
D. 3 and 4 (Enables the buyer to work with the supplier to resolve relationship problems and evaluate unnecessary concessions)

Answer: C

NEW QUESTION # 118
Which of the following is categorised as fixed cost?

A. Land rental paid in advance
B. Additional pallet hires due to higher demand in year-end season
C. Governments taxes
D. Raw materials for next year production

Answer: A

Explanation:
:
An organisation's expense can be categorised into three groups:
Fixed Costs - costs that do not change with output.
Variable Costs - costs that vary in direct proportion to output.
Semi-variable costs - costs that are a combination of the above, with both a fixed and variable element.
Among the four options:
"Land rental paid in advance": This is fixed cost. The rental won't increase when the production increases.
"Additional pallet hires due to higher demand in year-end season": This can be identified as semi-variable cost (or step cost).
"Governments taxes": The taxes are often levied by a percentage of income or revenue. Therefore, it is variable
"Raw materials for next year production": This is obviously variable cost.

NEW QUESTION # 119
......

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Greg King Greg King

Biography

Latest CIPS L4M5 Test Answers & Pass L4M5 Test

Pass L4M5 Test | Exam L4M5 Actual Tests

CIPS Commercial Negotiation Sample Questions (Q114-Q119):

ABOUT

USEFUL LINKS

+27 11 970 7354
+27 83 352 8056

info@accountantsfortomorrow.co.za

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+27 11 970 7354
+27 83 352 8056

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Greg King Greg King

Biography

Latest CIPS L4M5 Test Answers & Pass L4M5 Test

Pass L4M5 Test | Exam L4M5 Actual Tests

CIPS Commercial Negotiation Sample Questions (Q114-Q119):

ABOUT

USEFUL LINKS

+27 11 970 7354 +27 83 352 8056

info@accountantsfortomorrow.co.za

Download on the

Download on the

+27 11 970 7354 +27 83 352 8056

Download on the

Download on the

+27 11 970 7354
+27 83 352 8056

+27 11 970 7354
+27 83 352 8056