POPULAR L4M5 STUDY MATERIALS GIVE YOU EXCELLENT EXAM BRAINDUMPS - PRACTICEDUMP

Popular L4M5 Study Materials Give You Excellent Exam Braindumps - PracticeDump

Popular L4M5 Study Materials Give You Excellent Exam Braindumps - PracticeDump

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Tags: Study Guide L4M5 Pdf, L4M5 Reliable Exam Sims, Valid L4M5 Test Question, Exam L4M5 Prep, L4M5 Test Preparation

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CIPS Commercial Negotiation Sample Questions (Q122-Q127):

NEW QUESTION # 122
Which of the following would cause a demand curve for a good to be price inelastic?

  • A. The necessary goods
  • B. The consultancy service
  • C. There are a great number of substitutes for the good
  • D. The luxury goods

Answer: A

Explanation:
Essential goods and services such as electricity, fuel, basic food stuffs, commuter transport and habitual products such as tobacco, alcohol and sugar-based drinks are often sited as facing a relatively inelastic demand curve. This means when the price goes up, the quantity demanded does not decrease very much and so they are often the target of government taxation.
LO2, AC 2.2


NEW QUESTION # 123
Which of the following should be done when undertaking a reflection activity on negotiation? Select TWO that apply.

  • A. Be honest and objective about your skills
  • B. Gloss over areas where you need to improve your skills or performance
  • C. Identify areas in your skill set where you need to improve
  • D. Use generalised or ambiguous language when describing your strengths and development areas
  • E. Be overly modest about your contribution to the outcomes of negotiation

Answer: A,C

Explanation:
Giving positive group and individual feedback is easy, as is self-congratulation and, in many cases, it is hoped, this will be an accurate reflection on actual performance. When it comes to developmental or difficult feedback, it is only natural to want to move on and not reflect on the negative or developmental points, or why a negotiation did not achieve its objectives. But this is a mistake. The best learning opportunities come from reflection on what could be done better, and this can be achieved without blame, threat or condemnation.
Everyone and every team will make mistakes and/or have areas where they could have improved. Clearly, if every reflection session concludes that an individual or team keeps making the same mistake, then there is a case to change roles or consider alternative approaches.
About Dos and Don'ts of reflection, you can refer here: https://offices.depaul.edu/human-resources/employee- relations/Documents/Self%20Assesement.pdf


NEW QUESTION # 124
To buying organisation, savings can be achieved from different saving levers or tactics. Which of the following are means that deliver savings through optimising specifications?

  • A. Budget linkages
  • B. Part substitution
  • C. Compare total cost of ownership
  • D. Volume pooling
  • E. Value engineering

Answer: B,E

Explanation:
If driving greater value and efficiency from your supply base is your end, you should remember that there are many ways to do this without seeking to negotiate lower prices. Below are 7 types of saving levers:


NEW QUESTION # 125
Understanding supplier's mark-up and margin can provide procurement professional a comprehensive insight into supplier's net profits. Is this statement true?

  • A. No, because mark-up and margin inform little about supplier's net profit
  • B. No, because margin is enough to tell procurement about supplier's profitability
  • C. Yes, because supplier's mark-up and margin are two most valuable sources of information to procurement
  • D. Yes, because these are two indicators of supplier's future prospect

Answer: A

Explanation:
Mark-up and margin allow supplier to make gross profit. Remember that every supplier operates under different cost structures and some are set up to be most profitable at a particular level of volume, so it is dangerous to assume all suppliers can survive on a lower margin if their volume increases. Intelligent buyers understand that mark-up and margin may define gross profits, but they tell you very little about a supplier's net profits.
LO 2, AC 2.1


NEW QUESTION # 126
How contribution is calculated in break-even analysis?

  • A. Price minus fixed costs
  • B. Fixed costs divided by variable costs
  • C. Variable costs subtracted from fixed costs
  • D. Variable costs subtracted from price

Answer: D

Explanation:
Contribution = Price - Variable cost
Break-evenpoint (volume) = Fixed cost/Contribution


NEW QUESTION # 127
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