Free CIPS L4M5 Exam Questions

Become CIPS Certified with updated L4M5 exam questions and correct answers

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Total 165 Questions | Updated On: Nov 13, 2024

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Question 1

Distributive approach in negotiation is typified by which of the following?

A : tributive approaches are inherently inferior tointegrative approaches in commercial negotiation

B : th parties understand each other's goals

C : ch party attempts to maximise the value obtained at other's expense

D : th parties share 50:50 of the 'pie'

Answer: C

Question 2

Whenimplementing value analysis or value engineering, which of the following acronyms reminds both buyer and supplier of ideas on removal, substitution and design-out of cost elements?

A : ART

B : OPS WASTE

C : N-IT

D : MOA

Answer: B

Question 3

Professional buyer is planning for the next negotiation of a simple one-off contract. This negotiation is typified by which of the following? Select TWO that apply

A : ntinuous dialogue with supplier

B : tal cost of ownership is themost important criterion

C : ndor ratings will be used

D : m's-length approach

E : icing is the most important criterion

Answer: A,D

Question 4

A good negotiator invests time in understanding the needs of the individuals in a negotiation. Is this statement true?

A : , because individuals' needs always unify with their own organisation's needs and wants

B : , becausenegotiator should attempt to satisfy the needs of the other organisation only

C : , because satisfying individual needs will lead to conflict of interest and unethical practices

D : , because individual needs largely influence the outcomes of the negotiation

Answer: D

Question 5

A procurement professional is preparing for a negotiation of purchasing non-critical commodity products. He knows that the product can be easily replaced by other substitutes in the market. The negotiation for these products is typified by which of the following?

A : buyer should focus on wider costs and risk elements

B : approach must be collaborative

C : ere will be only limited negotiation

D : ere will be regular structured negotiations

Answer: C

Page: 1 / 33

Total 165 Questions | Updated On: Nov 13, 2024

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