FIRST-GRADE L4M5 EXAM REFERENCE & LEADER IN QUALIFICATION EXAMS & PERFECT L4M5 TRUSTWORTHY DUMPS

First-Grade L4M5 Exam Reference & Leader in Qualification Exams & Perfect L4M5 Trustworthy Dumps

First-Grade L4M5 Exam Reference & Leader in Qualification Exams & Perfect L4M5 Trustworthy Dumps

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CIPS Commercial Negotiation Sample Questions (Q177-Q182):

NEW QUESTION # 177
Cost and price analysis is very important for buyers when they are preparing for a negotiation with supplier.
Which of the following is a benefit of knowing supplier's fixed costs?

  • A. The buyer would be able to get a comprehensive picture of supplier's efficiency
  • B. The buyer would be able to know the point at which the supplier would reject the offer
  • C. With the sole understanding of supplier's fixed cost, the buyer would be able to know the volume at which supplier maximises their profit in short-run
  • D. The buyer would be able to know the right volume to reach break-even point

Answer: D

Explanation:
Knowing supplier's fixed and variable costs is beneficial for the buyer in a negotiation. With these insights, the buyer would know the volume at which the supplier reaches break-even points and then offers significant discount due to economies of scale.
Reference: CIPS study guide page 80-81
LO 2, AC 2.1


NEW QUESTION # 178
Which of the following is NOT a barrier to entry in a monopolized market?

  • A. The costs of production make a single producer more efficient than a large number of producers
  • B. A key resource is owned by a single firm
  • C. The government gives a single firm the exclusive right to produce some good
  • D. A single firm is very large

Answer: D

Explanation:
:
Monopolies exist in many markets in real life for very different reasons:
Ownership of a Key Resource: When one company exerts sole control over a resource that is necessary for the production of a specific product, the market may become a monopoly. For example, the only medication deemed acceptable to treat a disease comes from a particular ingredient X, and knowledge of this ingredient X is owned by a single family owned company. The company can, therefore, be said to have a monopoly over ingredient X that is needed to cure the disease because it is the only company that can produce a product deemed acceptable.
Government Franchise: In certain instances, a monopoly may be explicitly created by the government if it grants a single company, whether private or government-owned, the right to conduct business in a particular market. For example, when a national railways transportation service is created by the government, in most cases they are granted a monopoly on the operation of passenger trains in the country. As a result, other firms are only able to offer passenger train services with the cooperation and/or permission of the government- owned provider.
Intellectual Property Protection: Extending intellectual property protection to a company in the form of patents and copyrights is yet another way in which monopolies are created. When a government does this, it is in fact giving a single company an exclusive right to provide a particular product / service to the market.
Patents and copyrights work in providing owners of intellectual property with the right to act as an exclusive provider of a new product for a specific length of time. This creates a temporary monopoly in the market with regards to new products and services.
Natural Monopoly: A market may also become a monopoly simply because it may be more cost-effective for one company to serve the whole market than to have several smaller firms in competition with one another. A company with virtually unlimited economies of scale is referred to as a natural monopoly. Such firms become monopolies due to their position and size, which makes it impossible for new entrants in the market to compete price-wise. Natural monopolies are common in industries with high fixed costs and low marginal costs of operation such as providers of television, telephone, and internet services.
In this question, 'A single firm is very large' is not enough to tell whether this market is monopolistic.


NEW QUESTION # 179
Active listening in negotiation includes which of the following activities?
1. Hearing
2. Interpreting
3. Rapport
4. Influence

  • A. 3 and 4 only
  • B. 1 and 2 only
  • C. 2 and 3 only
  • D. 1 and 3 only

Answer: B

Explanation:
Listening is a hugely important skill in the world of work. It's a key part of effective communication [...].
Regarding active listening, there is a model called 'The SIER Hierarchy of Active Listening'. It details four key stages required for effective listening. As with all models associated with active listening, its purpose is to help the listener be a better, more effective listener who really hears what is being said, connects with the individual with whom they are communicating and builds effective relationships.
The model is a hierarchical model meaning that each stage builds on the stage before it. While the model is sometimes used for training in the sales arena, it is helpful in all walks of life. The stages of the model are:
Sensing (including hearing and watching body language), Interpreting, Evaluating and Responding.
Reference:
- CIPS study guide page 171-173
- The SIER Hierarchy of Active Listening: Become a Better Listener
LO 3, AC 3.3


NEW QUESTION # 180
Which of the following is the most appropriate approach to investors or shareholders who have high level of influence but low interest in the running of business?

  • A. Engage and consult with them regularly
  • B. Keep these people inform through general communication media
  • C. Engage and keep them satisfied
  • D. Manage them closely

Answer: C

Explanation:
Investors or shareholders who have high level of influence but low interest belong to 'Keep satisfied' quadrant of Mendelow's Stakeholder Matrix.
You may read 2 versions from L4M1 and L4M5 here:

Table Description automatically generated

LO 1, AC 1.1


NEW QUESTION # 181
In airline industry, suppliers prefer to adopt dynamic pricing in order to constantly monitor and change their fares inresponse to market conditions. Dynamics pricing is based on which costing method?

  • A. Activity-based costing
  • B. Absorption costing
  • C. Marginal costing
  • D. Cost plus costing

Answer: C

Explanation:
Dynamic pricing is the practice of dynamically calculating the price of a product or service in order to incorporate real-time market conditions, input costs, and/or competitive perspectives. Dynamic pricing which is based on marginal costing, is used by airlines and many other organisations.
Marginal cost is the cost of producing an additional unit of output. Marginal Costing is a costing technique wherein the marginal cost, i.e. variable cost is charged to units of cost, while the fixed cost for the period is completely written off against the contribution.


NEW QUESTION # 182
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L4M5 Dumps Torrent: Commercial Negotiation & L4M5 Exam Bootcamp

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