Keith Reed Keith Reed's Profile Page

Keith Reed Keith Reed

0 Course Enrolled • 0 Course Completed

Biography

L4M5 Exam Outline, Free L4M5 Exam Dumps

The L4M5 quiz guide through research and analysis of the annual questions, found that there are a lot of hidden rules are worth exploring, plus we have a powerful team of experts, so the rule can be summed up and use. The L4M5 prepare torrent can be based on the analysis of the annual questions, it is concluded that a series of important conclusions related to the qualification examination, combining with the relevant knowledge of recent years. L4M5 test material will improve the ability to accurately forecast the topic and proposition trend this year to help you pass the L4M5 exam.

To prepare for the CIPS L4M5 Certification Exam, candidates should have a good understanding of procurement processes and supplier management. They should also have experience in negotiating contracts and agreements. L4M5 exam consists of 60 multiple-choice questions, and the pass mark is 60%. L4M5 Exam is available online, and candidates have 90 minutes to complete it. Successful candidates will be awarded the CIPS L4M5 Certification, which is valid for three years.

>> L4M5 Exam Outline <<

Free L4M5 Exam Dumps, L4M5 New APP Simulations

The L4M5 exam bootcamp is quite necessary for the passing of the exam. Our L4M5 exam bootcamp have the knowledge point as well as the answers. It will improve your sufficiency, and save your time. Besides, we have the top-ranking information safety protection system, and your information, such as name, email address will be very safe if you buy the L4M5 bootcamp from us. Once you finished the trade our system will conceal your information, and if order is completely finished, we will clean away your information, so you can buy our L4M5 with ease.

CIPS L4M5 (Commercial Negotiation) Certification Exam is a globally recognized qualification that validates the skills and knowledge required to excel in commercial negotiations. Commercial Negotiation certification is designed for professionals who are involved in commercial negotiations on a regular basis, whether it be with suppliers, clients, or other stakeholders. Successful completion of the CIPS L4M5 Exam demonstrates a deep understanding of negotiation techniques, communication skills, and commercial acumen.

CIPS Commercial Negotiation Sample Questions (Q93-Q98):

NEW QUESTION # 93
Which of the following are most likely to be fundamentals of Fisher & Ury's principled negotiation?
1. Depersonalise the argument
2. Focuson positions
3. Generate creative options
4. Using subjective criteria

A. 1 and 4 only
B. 1 and 3 only
C. 2 and 3 only
D. 2 and 4 only

Answer: B

Explanation:
Explanation
Principled negotiation is based on four fundamentals: people, interest, options andcriteria:

Diagram Description automatically generated
1st Principle: separate the people from the problem: Negotiator should depersonalise the situation and accepting that the subject matter of the negotiation. This can be difficult for untrained negotiators, but this is a key skill to develop
2ndprinciple: focus on interests, not positions: It is important in principled negotiations not to focus on their parties' positions (what are expressed during negotiations), but on the interests (underlying needs) behind them
3rd principle: invent options for mutual gains: this principle aims to help the parties find a solution that both would benefit from. The more options - or tradeables - that can be brought to the table the better.
4th principle: insist on using objective criteria: is about making sure that the negotiation stays focused on outcomes based on objective criteria and that it is productive.
LO 1, AC 1.2

NEW QUESTION # 94
Which of the following are most likely to be direct costs of a steel manufacturer? Select THREE that apply.

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

Answer: C,E,F

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 # 95
According to Dr. Mari Sako, which of the following is potentially the weakest trust to be built?

A. Contractual trust
B. Competence trust
C. Goodwill trust
D. Charitable trust

Answer: A

Explanation:
:
Trust is the expectation that the other party will behave in a predictable and mutually acceptable way. In inter- firm relationships, the presence and absence of trust can affect the level of cost in a relationship. The existence of trust is taught to lower the transaction cost in a relationship. Dr. Mari Sako identified taxonomy of 3 types of trust in commercial relationship, which is very useful from the perspective of procurement.
Contractual trust: Trust based on the contract with TOP. This is potentially the weakest source of trust if there is nothing else to base the trust on, but it is the quickest to establish.
Competence trust: Trust based on TOP's professional qualifications or proven or certified technical capability or experience.
Goodwill trust: Trust based on knowing TOP has your interest at heart and will not behave opportunistically.
This is potentially the strongest type of trust, but it takes the longest time to build.
Otherwise, trust also has legal meaning. A trust is a legal document that can be created during a person's lifetime and survive the person's death. A trust can also be created by a will and formed after death. Charitable trusts are trusts which benefit a particular charity or the public in general.

NEW QUESTION # 96
Which of the following is potentially a major source of conflict?

A. Teamwork
B. Shared goals and values
C. Information gathering
D. Power imbalance

Answer: D

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

NEW QUESTION # 97
The sourcing manager has decided to adopt an adversarial style of negotiation to take advantage of the buyer' s greater bargaining power over the suppliers. In what other circumstances should an adversarial relationship be used?

A. When the supplier is likely to respond with further concessions to maintain a long-term relationship
B. When the issues concerned are non-negotiable, for example, health and safety commitments
C. In all forms of negotiation as each party is always trying to gain advantage over the other
D. In a monopoly market as the supplier will respond by conceding quantity discounts

Answer: B

Explanation:
Reference: CIPS L4M5 Study Guide, Section 1.2 - Approaches to Negotiation

NEW QUESTION # 98
......

Free L4M5 Exam Dumps: https://www.itbraindumps.com/L4M5_exam.html