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CIPS L4M5 Commercial Negotiation exam is designed to test the knowledge and skills of procurement professionals in commercial negotiations. L4M5 exam is part of the Chartered Institute of Procurement and Supply (CIPS) Level 4 diploma in procurement and supply. Commercial negotiation is a critical skill that procurement professionals must have to be successful in their roles. L4M5 Exam assesses the candidate's understanding of the negotiation process, tactics, and strategies, among other essential skills.

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CIPS Commercial Negotiation Sample Questions (Q25-Q30):

NEW QUESTION # 25
Jasmine and the IHL sales team have a negotiation scheduled with one of AB's lead buyers, Samuel, at AB's premises. This is one of the biggest negotiations that Jasmine has been involved in and is eager not to make any mistakes. Jasmine has heard from a colleague that Samuel tends to adopt an integrative negotiation style.
IHL senior management decides to send a team of three members to the negotiation. Jasmine is among the team and she is assigned to check body language, reactions, feeds insight to her leader and to record important comments and information from the meeting for minutes. Which of the following are roles of Jasmine in the forthcoming negotiation? Select TWO that apply.

A. Technical expert
B. Chief negotiator
C. Commercial expert
D. Observer
E. Secretary(Correct)

Answer: D,E

Explanation:
A negotiating team can be as few as two people, and one person can play one or more of these roles:
As from the scenario, Jasmine will act as an observer and a scribe (or secretary).

NEW QUESTION # 26
A procurement professional is negotiating with a supplier on cleaning service. She realises that there are huge cost-saving opportunities if the supplier agrees to reduce its mark-up and unnecessary employee benefits.
Supplier's mark-up and employee benefits are examples of which of the following?

A. Spend waterfall
B. Spend tree
C. Addressable spend
D. Spend cube

Answer: C

Explanation:
A key consideration when seeking to negotiate prices is to establish what proportion of the spend is addressable by procurement action such as negotiation. Addressability of spend is influenceable through negotiations or application of other saving effort or leverage with suppliers.
LO 2, AC 2.1

NEW QUESTION # 27
Which of the following is definition of elasticity of demand in microeconomics?

A. The percentage change in the quantity demanded of a good divided by the percentage change in the price of that good
B. Thepercentage change in price of a good divided by the percentage change in the quantity demanded of that good.
C. The percentagechange in income divided by the percentage change in the quantity demanded
D. The percentage change in the quantity demanded divided by the percentage change in income

Answer: A

Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor:
The price of a product can be described as being elastic if a small change in price leads to a big change in demand.
The price of a product can be described as being inelastic if a big change in price leads to a small change in demand.
The formulae of elasticity of demand is known as the following:
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NEW QUESTION # 28
Which of the following is a source of information on microeconomic factors?

A. Analysts published in the mainstream and financial media
B. Data published by the financial markets and commodity markets and exchanges
C. The marketing and corporate communications of suppliers
D. Published economic indices such as the Retail Price Index (RPI)

Answer: B

NEW QUESTION # 29
There are no commitments in hypothetical questions. Is this statement true?

A. No, because the party who makes hypothetical questions cannot withdraw their proposals
B. Yes, because hypothetical questions generate a specific response
C. No, because hypothetical questions are made explicitly to the other party
D. Yes, because hypothetical questions only mention possible situations

Answer: D

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 # 30
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