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CIPS L4M5 Certification Exam covers a range of skills and knowledge areas related to commercial negotiation. These include understanding the principles of effective negotiation, developing negotiation strategies, managing the negotiation process, and analyzing and evaluating negotiation outcomes. L4M5 Exam is designed to test candidates' knowledge of these areas and their ability to apply this knowledge in real-world situations.

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To get prepared for the Commercial Negotiation certification exam, applicants face a lot of trouble if the study material is not updated. They are using outdated materials resulting in failure and loss of money and time. So to solve all these problems, TestValid offers actual L4M5 Questions to help candidates overcome all the obstacles and difficulties they face during L4M5 examination preparation.

CIPS Commercial Negotiation Sample Questions (Q286-Q291):

NEW QUESTION # 286
Which of the following are most likely to be direct costs of a steel manufacturer? Select THREE that apply.

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

Answer: A,C,E

Explanation:
:
Direct costs are those costs of a product/service directly attributable/traceable to its production. Examples of direct costs including 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 # 287
Which of thefollowing are most likely to be sources of conflict that can emerge from the content of commercial negotiations? Select TWO that apply.

A. Framework arrangement
B. Requisition
C. Contract governing law
D. Payment terms
E. Cultural differences

Answer: C,D

Explanation:
Explanation
There are multiple sources of divergent positions that can arise in situations where money is exchange for goods and services. There are 2 different types of sources. Those that arise from the content or subject matter of the negotiation (what is being negotiated) and those that arise from the process of negotiation (how it is being negotiated).
Sources of divergent position - the content of negotiation:
Table Description automatically generated

Cultural differences are the source of conflict in the process of negotiation.
Requisition is an internal document raised by user or store to communicate to procurement the need to buy the product or service specified. This is merely a internal document.
Framework arrangement is a rather loose set-up, without any legal standing. It usually occurs when an organisation has decided for itself to limit the number of suppliers it is willing to work with and, through a purely internal process, sets up an approved list of such suppliers.
LO 1, AC 1.1

NEW QUESTION # 288
Are tactical ploys only used in distributive approach?

A. No, because tactical ploys strengthen the other party's position
B. Yes, because tactical ploys will help to gain insights into the other party's interests
C. No, because tactical ploys will be more effective with integrative approach
D. Yes, because they will be irritants to long-term relationship

Answer: D

Explanation:
There are many tactics and ploys that can be used to persuade others, particularly those not trained in negotiation. But in generalthese tactics should be used with care, as they can backfire; and in situations where a long-term relationship is desired, they can be, if detected, become an irritant to TOP.
Tactics are particularly effective if and when you are dealing with untrained negotiators, in consumer's buying situation and in once-off encounter.

NEW QUESTION # 289
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. Shehas 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. Directive (push)
B. Persuasive reasoning (push)
C. Collaborative (pull)
D. Visionary (pull)

Answer: C

Explanation:
There are two major persuasion methods: 'push' and 'pull'.
Persuasion can be defined as encouraging someone to dosomething 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

Text 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 # 290
At which stage in a negotiation would questions be asked to obtain missing information?

A. The testing stage
B. The proposing stage
C. The bargaining stage
D. The opening stage

Answer: A

Explanation:
There are 5 key phases of negotiation:
The opening phase: confirm understanding and get the issue on the table The testing phase: check assumption and confirm understanding The proposing phase: asking 'if' The bargaining phase: using tradeables The agreement and closing phase The testing could take the form of questions following a presentation by either side or questions on a tender or proposal document received by the buyer from the potential supplier. The testing phase is necessary to confirm that your approach and objectives are appropriate for the negotiation situation you now find yourself in. Careful listening, observation and interpretation of TOP's responses may give indication of the following:
Areas where TOP is willing and unwilling to make concessions
What factors or issues TOP places a high value on
If there are any non-commercial or emotional factors that may be pertinent TOP's underlying interests - why they are taking the position they are.

NEW QUESTION # 291
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L4M5 Learning Question Materials Make You More Prominent Than Others - TestValid

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CIPS Commercial Negotiation Sample Questions (Q286-Q291):

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