FREE PDF 2025 UPDATED CIPS LATEST L4M5 EXAM FORUM

Free PDF 2025 Updated CIPS Latest L4M5 Exam Forum

Free PDF 2025 Updated CIPS Latest L4M5 Exam Forum

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CIPS L4M5 exam, also known as Commercial Negotiation, is a crucial qualification for professionals who are involved in procurement and supply chain management. L4M5 exam is one of the key modules of the CIPS Level 4 Diploma in Procurement and Supply, which is a highly respected qualification in the industry. The Commercial Negotiation module is designed to equip procurement professionals with the necessary skills and knowledge to effectively negotiate commercial contracts and agreements with suppliers and vendors.

CIPS L4M5 Certification Exam covers a wide range of topics related to commercial negotiation, including negotiation planning, strategy, and tactics, contract law, dispute resolution, and ethical issues. L4M5 exam also covers the latest trends and best practices in the field, such as the use of technology in negotiations, the importance of relationship-building, and the need for effective communication skills.

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With the CIPS L4M5 practice test, users can reduce stress, and improve their confidence to succeed. The desktop-based Commercial Negotiation (L4M5) practice test software is compatible with Windows only. But the web-based L4M5 Practice Test is compatible with all operating systems.

CIPS Commercial Negotiation Sample Questions (Q45-Q50):

NEW QUESTION # 45
Which of the following statements about oligopoly isincorrect?

  • A. Prices in oligopoly are predicted to fluctuate widely and frequently
  • B. Oligopolistic firms recognize their interdependence
  • C. A few firms play an important role in the sale of a product
  • D. One firm's behaviour is a function of what its rivals do

Answer: A

Explanation:
Explanation
An oligopoly exists when there are small number of producers that exert a significant influence in the market.
Oligopoly's main characteristics are discussed as follows:
- Interdependence
The most important feature of oligopolyis the interdependence in decision-making of the few firms which comprise the industry. This is because when the number of competitors is few, any change in price, output, product etc. by a firm will have a direct effect on the fortune of its rivals, which will then retaliate in changing their own prices, output or products as the case may be.
- Importance of advertising and selling costs
A direct effect of interdependence of oligopolists is that the various firms have to employ variousaggressive and defensive marketing weapons to gain a greater share in the market or to prevent a fall in their market share. For this various firms have to incur a good deal of costs on advertising and on other measures of sales promotion. Therefore, thereis a great importance of advertising and selling costs under conditions of market situation characterised by oligopoly
- Group behaviour
Another important feature of oligopoly is that for the proper solution to the problem of determination of price and output under, it analysis of group behaviour is impor-tant.
- Indeterminateness of demand curve facing an oligopolist
In this question, 'Prices in oligopoly are predicted to fluctuate widely and frequently' is an incorrect statement as producers in oligopoly often try to set up price. Prices fluctuate more frequently in perfect competition.
LO 2, AC 2.2


NEW QUESTION # 46
Power is used only in adversarial negotiation situations to secure a 'win' outcome against the other side. Is this statement correct?

  • A. Yes, all negotiations entail a commercial contest which is always adversarial, as the powerful side gains
  • B. No, the use of power can be necessary in integrative negotiations to help overcome time-wasting issues
  • C. Yes, it only in adversarial negotiation that the use of power is necessary, because of the win-lose outcome
  • D. No, the use of power is not important in commercial negotiations as each side only looks for areas of agreement

Answer: B


NEW QUESTION # 47
Which of the following is the purpose of using stakeholder support level scale?

  • A. To identify stakeholder's needs and expectations
  • B. To estimate the gap and the progress towards desired levels of support
  • C. To identify key stakeholders
  • D. To identify stakeholder level of influence and interest and plot them on stakeholder map

Answer: B

Explanation:
In order to estimate the gap and the progress towards desired level of support, a stakeholder support scale can be used by the procurement internally. The support level scale measures stakeholder commitment. Current support level for the procurement/negotiation objectives should be gained from engagement with key stakeholders. The following is an example of stakeholder support level scale:
LO 1, AC 1.1


NEW QUESTION # 48
The stages of commercial negotiation involve which of the following characteristics?

  • A. Open, testing, bargaining, closing, revisiting
  • B. Opening, debating, promising, testing, disagreeing, closing
  • C. Preparing, opening, bargaining, agreement, closure
  • D. Preparation, proposal, bargain, leave

Answer: C

Explanation:
The typical stages of commercial negotiation are Preparing, opening, bargaining, agreement, and closure. This sequence facilitates a structured approach where negotiators prepare strategies, initiate discussions, engage in bargaining, reach agreements, and formally close the negotiation. This structure is emphasized in CIPS materials as essential for achieving a balanced negotiation process.


NEW QUESTION # 49
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 months would be beneficial for the company. Would this be a right thing to do?

  • A. Yes, the supplier would bear the risk when the material price increased
  • B. Yes, financial budgeting task would be a lot easier with fixed pricing arrangement
  • C. No, the refinery would not be able to reap the benefits from falling commodity price and currency rates
  • D. No, fixed price should be only applied to contracts that last 60 months or longer

Answer: C

Explanation:
Fixed price contract is the contract in which the price is static throughout the contract period. A fixed-price contract may give certainty to budget and simplify contract management. However, it may lead to other problems since it requires bidders to estimate and bear the financial risks associated with price escalations. If the estimates are too high or events do not materialize, the buyer will pay a steep price that may affect the economy and efficiency of the contract. In the worst case, it may mean that the bid price is then above budget and may lead to a reduction in the requirements or rebidding. If the estimates are too low, it may appear as an abnormally low bid and disrupt contract execution.
On the other hand, price adjustment provisions include formulas designed to address problems, and can protect both the borrower and contractors from price fluctuations. Price adjustment formulas allow contractors to offer more realistic prices at the time of bidding. Despite concerns that they may lead to budget uncertainties, price adjustment formulas will estimate the actual cost implications that will be encountered.
They use indexes that can be used for cost projection.
According to Asia Development Bank (ADB), any contract with a delivery or completion period beyond 18 months should contain an appropriate price adjustment clause.
In the scenario, the crude oil contract is planned to last 36 months. This period is pretty long with a fluctuating commodity. Therefore, the company should use price adjustment agreement.


NEW QUESTION # 50
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