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L4M5 exam materials contain all the questions and answers to pass L4M5 exam on first try. The Questions & answers are verified and selected by professionals in the field and ensure accuracy and efficiency throughout the whole Product. You will not need to collect additional questions and answers from any other source because this package contains every detail that you need to Pass L4M5 Exam.

CIPS L4M5 exam covers a range of topics related to commercial negotiation, including the principles of negotiation, negotiation styles and tactics, and the legal and ethical considerations involved in negotiation. L4M5 Exam is designed to test candidates' abilities to effectively negotiate contracts, manage stakeholder relationships, and achieve mutually beneficial outcomes in commercial transactions.

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CIPS Commercial Negotiation Sample Questions (Q192-Q197):

NEW QUESTION # 192
A buying organisation with a low spend and the reputation for paying late might be viewed by a supplier as which of the following?

A. Nuisance
B. Develop
C. Exploit
D. Core

Answer: A

Explanation:
To answer this question, you should know The seller's perspective as in 'How to Negotiate Professionally':
In the scenario, the buyer's spend is low, while they seem unattractive to seller (as they tend to pay late). So the buyer is classified as Nuisance in seller's perspective.

NEW QUESTION # 193
Distributive approach in negotiation is typified by which of the following?

A. Both parties understand each other's goals
B. Distributive approaches are inherently inferior tointegrative approaches in commercial negotiation
C. Both parties share 50:50 of the 'pie'
D. Each party attempts to maximise the value obtained at other's expense

Answer: D

Explanation:
Distributive approach to negotiation used when the interested parties are attempting to divide something up or distribute something of value, also known as zero-sum approach or win-lose. Commercial situations often demand a distributive bargaining approach, if the 'pie' is inherently of a fixed size. In this case, any conflicts must be resolved by sharing it.
In win-lose approach, a negotiator wants to maximise the value obtained in a single deal, the relationship with the other party is not important. Therefore, a strong party may win more than 50% of the metaphorical 'pie'.
It should not be assumed that win-win can be applied to all commercial negotiations, or that win-lose approaches are inherently inferior.

NEW QUESTION # 194
Which of the following are most likely to be abilities of a person with high emotional intelligence? Select TWO that apply.

A. Reasoning and problem solving Abstract thinking
B. Complex idea comprehension
C. Controlling one's own emotions
D. Perceiving how others feel

Answer: C,D

Explanation:
Emotional Quotient is the set of skills that enables us to make our way in a complex world - the personal, social and survival aspects of overall intelligence, the elusive common sense and sensitivity that are essential to effective daily functioning. It has to do with the ability to read the political and social environment, and landscape them; to intuitively grasp what others want and need; what strengths and weaknesses are; to remain unruffled by stress; and to be engaging. The kind of person others want to be around and follow.
EQ seeks to measure emotional intelligence and is centred on abilities such as the following:
- Identifying emotions
- Evaluating how others feel
- Controlling one's own emotions
- Perceiving how others feel
- Using emotions to facilitate social communication
- Relating to others
On the other hand, cognitive ability is defined as a general mental capability involving reasoning, problem solving, planning, abstract thinking, complex idea comprehension, and learning from experience (Gottfredson,
1997).
LO 3, AC 3.3

NEW QUESTION # 195
Which of the following is the most appropriate pricing arrangement in contracts where major inputs are commodities?

A. Fixed pricing arrangement
B. Price adjustment mechanism
C. Standard schedule of rates
D. Cost reimbursable pricingarrangement

Answer: B

Explanation:
In contracts which have major commodity input, the price is determined by market forces with no individual supplier or buyer able to influence it significantly.Prices are much more variable even within long term contracts and seeking a fixed price would create financial risks for both the buyers and the suppliers. It is often intelligent to agree a contract price adjustment mechanism to allow for market price changes so both sides share risk.

NEW QUESTION # 196
Which of the following are microeconomic factors? Select THREE that apply.

A. Unemployment levels
B. Availability of investors
C. Rates of inflation
D. Distribution channels
E. Levels of competition
F. Rates of taxation

Answer: B,D,E

Explanation:
Microeconomic factors refer to elements that affect individual businesses or sectors rather than the economy as a whole. In this case:
Availability of investors (B): Access to investors impacts capital availability for businesses.
Distribution channels (D): Distribution methods directly influence a business's ability to get products to market.
Levels of competition (F): Competition affects pricing and strategic decisions within specific industries.
Taxation rates, unemployment levels, and inflation rates are considered macroeconomic factors, affecting the economy on a broader scale, as per CIPS's definitions of microeconomic vs. macroeconomic influences.

NEW QUESTION # 197
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CIPS Commercial Negotiation Sample Questions (Q192-Q197):

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