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CIPS L4M5 (Commercial Negotiation) Certification Exam is designed to test the knowledge and skills of procurement and supply chain professionals in the area of negotiation. Commercial Negotiation certification is ideal for professionals who are involved in negotiating contracts, pricing, and terms and conditions with suppliers and vendors. The CIPS L4M5 Exam is a globally recognized qualification that is highly valued by employers in various industries.

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CIPS Commercial Negotiation Sample Questions (Q172-Q177):

NEW QUESTION # 172
Which of the following is definition of elasticity of demand in microeconomics?

A. The percentage change in the quantity demanded of a good divided by the percentage change in the price of that good
B. The percentage change in income divided by the percentage change in the quantity demanded
C. The percentage change in price of a good divided by the percentage change in the quantity demanded of that good.
D. The percentage change in the quantity demanded divided by the percentage change in income

Answer: A

Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor:
The price of a product can be described as being elastic if a small change in price leads to a big change in demand.
The price of a product can be described as being inelastic if a big change in price leads to a small change in demand.
The formulae of elasticity of demand is known as the following:
Text Description automatically generated with low confidence

NEW QUESTION # 173
Which of the following are most likely to be macro factorsthat may influence the balance of power in commercial negotiation? Select THREE that apply.

A. Number of substitute products or services
B. Sustainability of natural resources
C. Economic growth rates
D. Purchasing spend volume
E. Intensity of competition in a industry
F. Disruptive technologies

Answer: B,C,F

Explanation:
Explanation
All one-to-one commercial negotiations between a specific purchaser and a specific supplier take place within an industrial market and a larger business environment characterised by multiple forces which both parties typically have little control over. STEEPLE framework highlights the 6 main external influences on a business:
Table Description automatically generated

LO 1, AC 1.3

NEW QUESTION # 174
In order to mitigate all risks involved in the negotiation process, the buyer only needs to undertake pre- negotiation research on the supply market and establish a BATNA. Is this a correct suggestion?

A. Yes, because the market price should be the target price of the negotiations
B. No, the buyer should also keep the top management and all employees informed
C. Yes, establishing a fallback position is important because it signifies that the negotiations will reach an impasse
D. No, the buyer should make preparations in other areas such as determining the negotiation team

Answer: D

Explanation:
While understanding the supply market and preparing aBATNA (Best Alternative to a Negotiated Agreement) are essential, theydo not cover all risks. Comprehensive preparation includes defining thenegotiation team, setting clearobjectives, planningtradeables, and anticipatingcommunication tactics. Skipping these steps can lead to poor coordination, misunderstandings, and missed opportunities. Effective negotiation is amultifaceted process, not a single strategy.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 3.1 - Planning and Risk Mitigation in Negotiation

NEW QUESTION # 175
Which type of question should be used to receive affirmation on statement?

A. Closed
B. Narrow
C. Open
D. Leading

Answer: A

Explanation:
Different questioning styles can be used to elicit desired responses:
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NEW QUESTION # 176
In addition to organisational power, personal power of each negotiator can influence the outcomes of a negotiation. A good negotiator can leverage different sources of power. Is this statement true?

A. Yes, because allsources of power have similar effectiveness in every situation
B. No, because each person has only one superior source of personal power
C. Yes, because the good negotiator recognises his own power in a negotiation
D. No, because only organisational power can be leveraged during a negotiation

Answer: C

Explanation:
Explanation
Both organisational and personal power have the ability to influence the outcomes of negotiation. Good negotiators recognises the different sources of relative personal power they possess in a negotiation. There is no one superior source of personal power; they will vary in their effectiveness based on the situation. The more personal sources available the better, even if some not used, these can be used as a fallback.
LO 1, AC 1.3

NEW QUESTION # 177
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