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L4M5 Latest Test Simulator & Exam L4M5 Topic

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CIPS L4M5 exam is recognized globally as a standard of excellence in commercial negotiation. It is a valuable certification for procurement professionals seeking to improve their career prospects and demonstrate their expertise to potential employers. The knowledge and skills gained from L4M5 Exam can be applied across a range of industries and sectors, making it a versatile and valuable qualification.

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L4M5 Latest Test Simulator | Latest L4M5: Commercial Negotiation

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CIPS Commercial Negotiation Sample Questions (Q140-Q145):

NEW QUESTION # 140
Which of the following is the best description of direct cost?

A. Direct costs include raw materials, labour and other expenses attributable to the final product
B. Direct costs are only variable raw materials that constitute a product
C. Direct costs include raw materials, labour and overheads
D. Direct costs include only raw materials and labour of making the final product

Answer: A

Explanation:
:
Direct costs are those costs of a product/service directly attributable/traceable to its production, for example, the costs of labour and materials directly used to produce the goods/services which the organisation sells.

NEW QUESTION # 141
Which of these personal power bases stems from the manager's position in the organisation and the authority that lies in that position?

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

Answer: C

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 comes from 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 # 142
Which of the following roles would support negotiations with an external supplier when planning a negotiation for a low-value, routine purchase? Select TWO that apply.

A. The Human Resource (HR) manager
B. The procurement manager
C. An internal business user
D. A legal advisor
E. The Chief Executive Officer (CEO)

Answer: B,C

Explanation:
For low-value, routine purchases, the involvement of The procurement manager (C) and An internal business user (E) is appropriate. The procurement manager brings expertise in supplier engagement, while the internal business user provides insights on specific needs for the product or service. Involving high-level roles, like the CEO or a legal advisor, is unnecessary for routine purchases, as per CIPS guidance on resource alignment in procurement.

NEW QUESTION # 143
AB Manufacturing seeks to buy a new materials resource planning (MRP) software system. At the 'defining the business need' stage of the procurement cycle, the procurement manager ensured that all the internal stakeholders involved had the power to contribute and sign off on requirements. For the MRP system, the procurement manager consulted the head of production planning of AB Manufacturing. The head of production contributed to demand levels, existing manufacturing planning, and existing staff levels. What type of power does the head of production demonstrate?

A. Expert
B. Legitimate
C. Referent
D. Reward

Answer: A

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.3 - Sources of Power in Negotiation

NEW QUESTION # 144
Maria has adopted an adversarial style relationship with her stationery supplier. This relationship style can be characterised by which of the following? Select the TWO that apply.

A. Degree of mutual commitment
B. Minimal sharing of information
C. Requirement to exceed expectations
D. Use of power to seek the best possible deal
E. Requirement to secure quality of supply

Answer: B,D

Explanation:
An adversarial relationship is characterized by a competitive, often zero-sum approach where:
Minimal sharing of information (A): In adversarial settings, there is limited transparency as each party prioritizes its interests.
Use of power to seek the best possible deal (D): Power dynamics are leveraged to gain favorable terms, often at the expense of the other party.
This style typically lacks collaboration and mutual commitment, focusing instead on short-term gains rather than building a partnership, as described in CIPS resources on adversarial relationships.

NEW QUESTION # 145
......

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