[Jul-2022] L4M5 PDF Dumps Are Helpful To produce Your Dreams Correct QA’s [Q48-Q68]

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[Jul-2022] L4M5 PDF Dumps Are Helpful To produce Your Dreams Correct QA’s

New L4M5 exam Free Sample Questions to Practice

CIPS L4M5 Exam Syllabus Topics:

Topic	Details
Topic 1	Organisational power: comparing the relative power of purchasers and suppliers Explain how the balance of power in commercial negotiations can affect outcomes
Topic 2	Building relationships based on reputation, and trust Repairing a relationship The relationship spectrum
Topic 3	Setting objectives and defining the variables for a commercial negotiation Use of telephone, teleconferencing or web based meetings
Topic 4	Setting targets and creating a best alternative to a negotiated agreement (BATNA) Collaborative win-win integrative approaches to negotiations
Topic 5	How behaviours should change during the different stages of a negotiation Compare the key communication skills that help achieve desired outcomes
Topic 6	Identify the different types of relationships that impact on commercial negotiations Pragmatic and principled styles of negotiation
Topic 7	Understand key approaches in the negotiation of commercial agreements with external organisations Sources of conflict that can arise in the work of procurement and supply

NEW QUESTION 48
Which of the following can help both parties to break the vicious cycle of blame when a relationship needs repairing? Select TWO that apply.

Both parties understand each other’s goals

Focusing onpositions

Conflict management skills

Constant shadowing and oversights

Emotional-based assessment

NEW QUESTION 49
Which of the following are most likely to be macro factorsthat may influence the balance of power in commercial negotiation? Select THREE that apply.

Economic growth rates

Disruptive technologies

Purchasing spend volume

Sustainability of natural resources

Intensity of competition in a industry

Number of substitute products or services

NEW QUESTION 50
Which of the following are recognised techniques in contract negotiation? Select THREE that apply.

Framing and reframing

Ratification

Pacing and leading

Validation

Role ethics

Anchoring

NEW QUESTION 51
Which of the following should be done by the procurement team at the closing stage of a negotiation? Select TWO that apply.

Gloat publicly about the deal

Seek agreement in principle if TOP does not have the final authority

Tell TOP that they could have got a better deal

Accept ambiguity or uncertainty

Leave the meeting as soon as possible

NEW QUESTION 52
When prices of input materials increase, supply curve shifts to the left while demand remains stable. The shift of supply will tend to cause which of the following?

An increase in the equilibrium price and quantity

A decrease in the equilibrium price and quantity

A decrease in the equilibrium price and an increase in the equilibrium quantity

An increase in the equilibrium price and a decrease inthe equilibrium quantity

NEW QUESTION 53
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

2 and 3 only

2 and 4 only

1 and 3 only

1 and 4 only

NEW QUESTION 54
An oil refinery plant imports much of its crude oil from overseas. A procurement manager in the refinery suggests that fixing the crude oil contract price for 36 monthswould be beneficial for the company. Would this be a right thing to do?

Yes, financial budgeting task would be a lot easier with fixed pricing arrangement

No, fixed price should be only applied to contracts that last 60 months or longer

No, the refinery would not be able to reap the benefits from falling commodity price and currency rates

Yes, the supplier would bear the risk when the material price increased

NEW QUESTION 55
Which of the following are the most typical characteristics of integrative approach to negotiation? Select TWO that apply.

Positional-based

Claiming value

Interest-based

Short-term wins

Creating more value

NEW QUESTION 56
Which of the following isthe definition of safety margin?

The difference between current or forecasted sales and sales at the break-even point

The amount of revenue that remains after subtracting costs directly associated with production

The production level at which total revenues for a product equal total expenses

The incremental money generated for each product/unit sold after deducting the variable costs

NEW QUESTION 57
Which of the following will help to indicate personality preferences in four dimensions?

Thomas-Kilmann Conflict Resolution model

Intelligence quotient

Mill’s RESPECT mnemonic

Myers-Briggs Type Indicator

NEW QUESTION 58
A buying organisation with a low spend and the reputation for paying late might be viewed by a supplier as which of the following?

Develop

Nuisance

Core

Exploit

NEW QUESTION 59
An automotive company purchases high quality steel to produce components. The steel is an important raw material and the contract value is enormous. They sources the steel from oversea and contact some potential suppliers. One of the potential suppliers invites the procurement team to their premise for a new business opportunity. Should the procurement team accept the invitation?

No, because negotiating over telephone is enough to collect information on supplier’s capability

Yes, because the visit would increase the buyer’s bargaining power

Yes, because this is an opportunity to assess the supplier’s capacity

No, because the travel would incur unnecessary costs

NEW QUESTION 60
Katie is preparing a negotiation with a strategic supplier. Through deep market analysis, she realises that her company and the supplier have equal bargaining power. Via regular communication, Katie knows that both parties are arguing on amount of liquidated damages and neither party shall concede all of their requirements but some are negotiable. Katie and her counterpart from supplying company still desire a long-term relationship and hope that the meeting between them will be a solution for current situation. Which of the following isthe most appropriate approach that Katie should adopt to achieve the above outcome?

Avoiding approach

Competing approach

Compromising approach

Accommodating approach

Explanation
Competing is assertive anduncooperative, a power-oriented mode. When competing, an individual pursues his or her own concerns at the other person’s expense, using whatever power seems appropriate to win his or her position. Competing might mean standing up for your rights, defending a position you believe is correct, or simply trying to win. Competing will not allow long-term relationship to flourish.
Compromising is intermediate in both assertiveness and cooperativeness. When compromising, the objective is to find an expedient, mutually acceptable solution that partially satisfies both parties. Compromising falls on a middle ground between competing and accommodating, giving up more than competing but less than accommodating. Likewise, it addresses an issue more directly than avoiding but doesn’t explore it in as much depth as collaborating. Compromising might mean splitting the difference, exchanging concessions, or seeking a quick middle-ground position. It is a valid approach when long-term relationships are at stake and it is important to find some common ground on which to base an agreement. Both sides get something but not everything. Therefore, this is the most appropriate for this scenario.
Avoiding is unassertive and uncooperative. When avoiding, an individual does not immediately pursue his or her own concerns or those of the other person. He or she does not address the conflict. Avoiding might take the form of diplomatically sidestepping an issue, postponing an issue until a better time, or simply withdrawing from a threatening situation. In the scenario, both parties want to take the opportunity, then avoiding is not an appropriate solution.
Accommodating is unassertive and cooperative-the opposite of competing. When accommodating, an individual neglects his or her own concerns to satisfy the concerns of the other person; there is an element of self-sacrifice in this mode. Accommodating might take the form of selfless generosity or charity, obeying another person’s order when you would prefer not to, or yielding to another’spoint of view. In the scenario, neither party shall concede all of their requirements, it is unnecessary to adopt this approach.
LO 1, AC 1.1

NEW QUESTION 61
Which of the following are factors that might shift the demand curve for a consumer good to the right?
1. Prices of complementary goods decrease
2. Price of the consumer good decreases
3. Customers’ expectation of higher prices in the future
4. Consumer tastes shift toward substitute products

3 and 4 only

4 and 2 only

1 and 3 only

1 and 2 only

NEW QUESTION 62
How contribution is calculated in break-even analysis?

Fixed costs divided by variable costs

Variable costs subtracted from price

Price minus fixed costs

Variable costs subtracted from fixed costs

NEW QUESTION 63
In a commercial negotiation, a procurement professional negotiates on his company’s behalf. The power of buying organisation is the only factor that influences the behaviours of the other party. Is this assumption true?

Yes, because the outcomes of negotiation are attributable to the buying organisation

No, because personal power of negotiators also attributes tothe outcomes

No, because power of supplier is the only factor that influences the other party

Yes, because buyer’s brand, reputation and purchasing spend largely determine the outcomes

NEW QUESTION 64
XYZ Ltd needs to purchase a bundle of IT products from suppliers. The procurement manager requests details of costs regarding designing and managing those products. After receiving reports from suppliers, she realises that they have charged up to a 1,095% mark-up on IT products. In order to ensure value for money, which of the following should be a priority pricing arrangement of the procurement manager in the negotiation with these IT suppliers?

Premium pricing

Cost plus arrangement

Market skimming

Market penetration pricing

NEW QUESTION 65
Which of thefollowing is the purpose of using stakeholder support level scale?

To identify stakeholder level of influence and interest and plot them on stakeholder map

To identify stakeholder’s needs and expectations

To estimate the gap and the progress towards desired levels of support

To identify key stakeholders

NEW QUESTION 66
If the value of the British Pound in other currencies is strong, which of the following is most likely to occur?

The price of UK products in the UK will rise

The price of UK products in the UK will fall

The price of UK products abroad in foreign currency will fall

The price of UK products abroad in foreign currency will rise

NEW QUESTION 67
A supplier’s mark-up on all products is 25%. Supplier’s profit margin is…?

20%

30%

75%

15%

NEW QUESTION 68
Which of thefollowing are signs indicating that TOP is using coercive power in commercial negotiation?
Select TWO that apply.

Demonstrating fairness and respect

Withdrawal of benefits

Use of guilt

Technical expertise

Positive references

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[Jul-2022] L4M5 PDF Dumps Are Helpful To produce Your Dreams Correct QA’s [Q48-Q68]

CIPS L4M5 Exam Syllabus Topics:

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