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L4M5 real dumps revised and updated according to the syllabus changes and all the latest developments in theory and practice, our Commercial Negotiation real dumps are highly relevant to what you actually need to get through the certifications tests. Moreover they impart you information in the format of L4M5 Questions and answers that is actually the format of your real certification test. Hence not only you get the required knowledge but also find the opportunity to practice real exam scenario.

CIPS L4M5 Exam Syllabus Topics:

Topic	Details
Topic 1	Identify the different types of relationships that impact on commercial negotiations Pragmatic and principled styles of negotiation
Topic 2	Setting targets and creating a best alternative to a negotiated agreement (BATNA) Collaborative win-win integrative approaches to negotiations
Topic 3	Macroeconomics and its influence on commercial negotiations Contrast the economic factors that impact on commercial negotiations
Topic 4	Building relationships based on reputation, and trust Repairing a relationship The relationship spectrum
Topic 5	Analyse the application of commercial negotiations in the work of procurement and supply Negotiation in relation to the stages of the sourcing process
Topic 6	Setting objectives and defining the variables for a commercial negotiation Use of telephone, teleconferencing or web based meetings
Topic 7	How behaviours should change during the different stages of a negotiation Compare the key communication skills that help achieve desired outcomes
Topic 8	Differentiate between the types of approaches that can be pursued in commercial negotiations Distributive win-lose, distributive approaches to negotiation
Topic 9	How purchasers can improve leverage with suppliers The importance of power in commercial negotiations
Topic 10	Costing methods such as absorption, marginal or variable and activity based costing Know how to prepare for negotiations with external organisations
Topic 11	Analyse how to assess the process and outcomes of negotiations to inform future practice Protecting relationships after the negotiation

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CIPS Commercial Negotiation Sample Questions (Q44-Q49):

NEW QUESTION # 44
Which of the following is the internal factor that is taken intoprice of a product?

• A. Exchange rate
• B. Customer tastes
• C. Elasticity
• D. Risk management

Answer: D Explanation:
Explanation
In order to answer this question, you should better consider each option:
'Exchange rate' is the value of one nation's currency versus thecurrency of another nation or economic zone.
This is a macroeconomic factor.
'Elasticity' refers to the degree to which individuals, consumers or producers change their demand or the amount supplied in response to price or income changes. This is a microeconomic factor Consumer tastes refer to the products and services that consumers consciously choose over others. Consumer tastes are so powerful that they can change how businesses conduct their activity. Like elasticity, this is also a microeconomic factor.
Among 4 options, only risk management is the internal factor. Risk pricing is a strategy applied by many companies in the world. To learn how to price the risk, you can read an article from McKinsey:
https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/how-to-price-risk-to-win-and-pr This is a question that a student met in her actual exam. The knowledge section is unknown.
LO: Unknown, AC: Unknown
NEW QUESTION # 45
Which of the following are macroeconomic factors that may have influence to the commercial negotiation?
Select TWO that apply

• A. Bargaining power of supplier
• B. Equilibrium price
• C. Supply curve
• D. Unemployment rate
• E. Rising import tariffs

Answer: D,E Explanation:
Explanation
There are many macro economic factors that could influence procurement in general andcommercial negotiation in particular. Below are six factors that are agreed to be fairly significant:
* Economy growth rate
* Inflation rates
* Interest rates
* Currency exchange rate
* Unemployment rate
* Protectionism
LO 2, AC 2.2
NEW QUESTION # 46
According to Dr. Mari Sako, which of the following is potentially the weakest trust to be built?

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

Answer: B 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, whichis 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 afterdeath. Charitable trusts are trusts which benefit a particular charity or the public in general.
NEW QUESTION # 47
Which of the following are most likely to be direct costs of a steel manufacturer? Select THREE that apply.

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

Answer: B,D,F Explanation:
Direct costs are those costs of a product/service directly attributable/traceable to its production. Examples of direct costsincluding 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 # 48
Which of the following will help to indicate personality preferences in four dimensions?

• A. Thomas-Kilmann Conflict Resolution model
• B. Mill's RESPECT mnemonic
• C. Intelligence quotient
• D. Myers-Briggs Type Indicator

Answer: D Explanation:
The Myers-Briggs Type Indicator (MBTI) is an introspective self-report questionnaire indicating differing psychological preferences in how people perceive the world and make decisions. MBTI indicates personality preferences in four dimensions.
The Thomas-Kilmann Conflict Mode Instrument (TKI) is a conflict style inventory, which is a tool developed to measure an individual's response to conflict situations.
Mill's RESPECT mnemonic is set out by Harry A. Mills which describes seven steps to agreements An intelligence quotient (IQ) is a total score derived from a set of standardized tests designed to assess human intelligence.
NEW QUESTION # 49
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