NEW L4M5 EXAM DUMPS - L4M5 PRACTICE TEST FEE

New L4M5 Exam Dumps - L4M5 Practice Test Fee

New L4M5 Exam Dumps - L4M5 Practice Test Fee

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The CIPS L4M5 exam format consists of a three-hour paper-based assessment, which includes multiple-choice questions, short-answer questions, and case studies. To pass the exam, candidates must achieve a minimum of 50% marks. L4M5 Exam is offered globally, and candidates can take it at any CIPS-approved test center or remotely.

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CIPS Commercial Negotiation Sample Questions (Q299-Q304):

NEW QUESTION # 299
When implementing 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. SAMOA
  • B. STOPS WASTE
  • C. SMART
  • D. OWN-IT

Answer: B

Explanation:
:
Ray Carter coined the mnemonic STOPS WASTE to remind buyers of 10 cost-reduction ideas they can ask for themselves and their suppliers in any situation when considering a key purchase input. Stop Waste by:
Standardisation - is there a standard specification?
Transportation - is the inbound transport classification appropriate
Over-engineered - is the specification too tight?
Packaging - can packaging be reduced or eliminated?
Substitutes - is there a cheaper substitute material
Weight - is there opportunity to reduce weight of the product?
Any unnecessary processing - is there any unnecessary design or feature?
Supplier's input - are suppliers able to assist with the cost reduction To make - is it more economical to make or buy?
Eliminate - if no one uses the feature, can it be eliminated?
SAMOA is a useful acronym for checking and testing the information gathered from the Internet:
Source
Audience
Methodology
Objectivity
Accuracy
OWN-IT is acronym for 5 steps in the process of collecting and analysing the data and information needed in any field:
Outline
Wide search
Narrow search
Increase your stockpile of information
Transform your stockpile into new knowledge
A SMART goal is used to help guide goal setting. SMART is an acronym that stands for Specific, Measurable, Achievable, Realistic, and Time-bound.


NEW QUESTION # 300
Champion Toys (CT) is negotiating a large order of luxury toys with its supplier, Top Teds. CT has identified that lead times, order quantities, and delivery locations are tradeables that could be used in this negotiation. At which negotiation stage should CT introduce these tradeables?

  • A. Closure
  • B. Bargaining
  • C. Opening
  • D. Proposing

Answer: B


NEW QUESTION # 301
It may be more difficult to buy on a credit from supplier who locates in a country with a hyperinflation? Is this assumption true?

  • A. No, because the higher the inflation rate, the stronger the supplier's currency
  • B. Yes, because buyer has more advantage if they make payment in their own currency
  • C. No, because supplier's bank will take risks from currency fluctuation
  • D. Yes, because the supplier's currency will lose its value overtime

Answer: D

Explanation:
:
If the inflation rate is running high, then obtaining credit as a buyer is normally more difficult or expensive as money in the future will be worth less than money today.


NEW QUESTION # 302
Which of thefollowing are most likely to be sources of conflict that can emerge from the content of commercial negotiations? Select TWO that apply.

  • A. Cultural differences
  • B. Contract governing law
  • C. Framework arrangement
  • D. Requisition
  • E. Payment terms

Answer: B,E

Explanation:
Explanation
There are multiple sources of divergent positions that can arise in situations where money is exchange for goods and services. There are 2 different types of sources. Those that arise from the content or subject matter of the negotiation (what is being negotiated) and those that arise from the process of negotiation (how it is being negotiated).
Sources of divergent position - the content of negotiation:
Table Description automatically generated

Cultural differences are the source of conflict in the process of negotiation.
Requisition is an internal document raised by user or store to communicate to procurement the need to buy the product or service specified. This is merely a internal document.
Framework arrangement is a rather loose set-up, without any legal standing. It usually occurs when an organisation has decided for itself to limit the number of suppliers it is willing to work with and, through a purely internal process, sets up an approved list of such suppliers.
LO 1, AC 1.1


NEW QUESTION # 303
What letter R in the acronym SMART stands for?

  • A. Relevant
  • B. Recommended
  • C. Risk-free
  • D. Random

Answer: A

Explanation:
SMART is an acronym that you can use to guide your goal setting. SMART is an acronym that stands for Specific, Measurable, Achievable, Relevant, and Time-bound A student met this question in the L4M5 exam. SMART is mentioned primarily in L4M3 Commercial Contracting.
LO: Unknown, AC: Unknown


NEW QUESTION # 304
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