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The Commercial Negotiation (L4M5) certification is the way to go in the modern CIPS era. Success in the L4M5 exam of this certification plays an essential role in an individual's future growth. Nowadays, almost every tech aspirant is taking the test to get CIPS certification and find well-paying jobs or promotions. But the main issue that most of the candidates face is not finding updated CIPS L4M5 Practice Questions to prepare successfully for the CIPS L4M5 certification exam in a short time.

CIPS L4M5 (Commercial Negotiation) Exam is designed to assess the knowledge and skills of procurement professionals in the area of commercial negotiation. L4M5 exam focuses on the key principles and techniques of negotiation, which are essential for procurement professionals to achieve the best possible outcomes for their organizations. L4M5 Exam covers a wide range of topics, including negotiation strategies, tactics, and techniques, as well as the legal and ethical considerations that must be taken into account during the negotiation process.

CIPS Commercial Negotiation Sample Questions (Q24-Q29):

NEW QUESTION # 24
Which of the following are the most typical characteristics of integrative approach to negotiation? Select TWO that apply.

A. Interest-based
B. Creating more value
C. Short-term wins
D. Positional-based
E. Claiming value

Answer: A,B

Explanation:
Integrative approach to negotiation used when the interested parties are attempting to create more of something of value to share, also known as collaborative approach or win-win. Integrative, interest-based negotiation can facilitate constructive, positive relationship and establishes contracts between parties on a foundation of goodwill. In integrative bargaining, both parties seek to 'expand the pie' by creating more value for both the buyer and the seller. Integrative negotiation 'shares thepie' and is interest rather than positional based.
In distributive bargaining, the focus is on claiming value and getting as much of the pie as parties can.
Table Description automatically generated

LO 1, AC 1.2

NEW QUESTION # 25
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. No, because each person has only one superior source of personal power
B. Yes, because the good negotiator recognises his own power in a negotiation
C. No, because only organisational power can be leveraged during a negotiation
D. Yes, because allsources of power have similar effectiveness in every situation

Answer: B

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 # 26
Commercial negotiation ends at the award of a contract. Is this statement true?

A. No, because real commercial negotiation begins after the contract is awarded
B. Yes, because the supplier will comply with legally binding obligations
C. Yes, because there are no rooms for negotiation after the contract is awarded
D. No, because improvements can be achieved through post-award negotiation

Answer: D

Explanation:
Explanation
Negotiation doesn't end after the contract is awarded. The needs for negotiation can arise in anypost-award stages. For example, at supplier development and relationship management stage, improvement in supplier capability, capacity, and product/service range can be negotiated. Negotiations with long-term strategic critical suppliers should be carriedout in a partnering style, with a win-win starting point assumed.
In some sectors such as transport, utilities and infrastructure, tenderers may 'bid low' or even make a loss to win major contracts with a view to negotiating lucrative changes, variationsand 'add-ons' over the life of the contract when the supplier is bedded in and the buyer is in the weaker position to push back or challenge. Even in less complex contract, it is very likely that there will be a need to negotiate with that supplier again after the awarding of the contract.
LO 1, AC 1.1

NEW QUESTION # 27
Which of the following is definition of elasticity of demand in microeconomics?

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

Answer: D

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 # 28
Which of the following are most likely to be fixed costs of an airline? Select TWO that apply.

A. Purchase of aircraft
B. Catering services
C. Advertising and promotion
D. Flightcrew training
E. Fuel

Answer: A,D

Explanation:
Explanation
Fixed costs (FC) are costs that do not vary with volume. To an airline once aircraft are purchased, flight crews trained and departures scheduled, costs are disproportionately fixed.
Variable costs (VC) arethose which vary with the amount produced. Fuel, catering services and marketing are examples of variable.
LO 2, AC 2.1

NEW QUESTION # 29
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