L4M5 EXAM REVISION PLAN | LATEST L4M5 STUDY NOTES

L4M5 Exam Revision Plan | Latest L4M5 Study Notes

L4M5 Exam Revision Plan | Latest L4M5 Study Notes

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Tags: L4M5 Exam Revision Plan, Latest L4M5 Study Notes, L4M5 New Braindumps Book, New L4M5 Test Book, L4M5 Valid Exam Papers

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CIPS Commercial Negotiation Sample Questions (Q208-Q213):

NEW QUESTION # 208
Lina Rawlins, a senior buyer for a medical equipment company, is in charge of the company's largest supplier account. Recently, the supplier's performance has declined, leading to more rejected items. Lina has asked the supplier for an urgent meeting. In the meeting, she asks: "Can you tell me exactly what you are doing to ensure quality?" What type of question is Lina asking?

  • A. Hypothetical
  • B. Reflective
  • C. Probing
  • D. Leading

Answer: C

Explanation:
Lina's question seeksdetailed informationabout the supplier's actions and is aimed at uncovering the root cause or assurance measures. This makes it aprobing question, designed to delve deeper into specifics.
Probing is a key technique in negotiations for uncovering critical insights, particularly duringissue resolution or when seeking complianceon performance terms.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 3.3 - Questioning Styles: Probing for Clarity and Assurance


NEW QUESTION # 209
Which of the following are ways of developing rapport when undertaking a negotiation?

  • A. 1 and 3 only (Engaging in assertive communication and Engaging in active listening)
  • B. 2 and 4 only (Using probing questions and Actively showing empathy)
  • C. 3 and 4 only (Engaging in active listening and Actively showing empathy)
  • D. 1 and 2 only (Engaging in assertive communication and Using probing questions)

Answer: C


NEW QUESTION # 210
Which of the following is the best description of direct cost?

  • A. Direct costs include only raw materials and labour of making the final product
  • B. Direct costs include raw materials, labour and other expenses attributable to the final product
  • C. Direct costs are only variable raw materials that constitute a product
  • D. Direct costs include raw materials, labour andoverheads

Answer: B

Explanation:
Direct costs are those costs of a product/service directly attributable/traceable to its production, for example, the costs of labour and materials directly used to produce the goods/services which the organisation sells.


NEW QUESTION # 211
'What specific tests do you carry out to ensure quality is achieved?' This is an example of which type of negotiation question?

  • A. Reflective
  • B. Closed
  • C. Probing
  • D. Leading

Answer: C

Explanation:
Explanation
The question requires more detailed answer, it is an example of probing question.
Probing questions are typically follow-up questions, and aim to elicit more detailed information on the back of the answer elicited from theopen questions. Probing question are also useful to check that the supplier fully understand their offering, as well as your needs, can also be used to communicate to the suppliers that you know this category well.
LO 3, AC 3.3


NEW QUESTION # 212
Which of the following will shift the supply curve to the right?

  • A. Increased customers' disposable income
  • B. Changes in customer taste
  • C. New disruptive technology
  • D. Decreased market price of substitute products

Answer: C

Explanation:
The following graph shows the factors that shift the supply curve to the left and to the right.


NEW QUESTION # 213
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You may be cynical about insurance and find yourself in agreement L4M5 with Al Bundy of the old sitcom Married with Children, who said, Insurance is like marriage, Appendix H: Localizable Elements.

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