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CIPS Certification
L4M5 Exam
CIPS.L4M5.v2022-11-13.q56 Dumps

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Question 6

Which of the following is most likely a consequence of falling interest rate?

A.Increase aggregate demand
B.Decrease investment
C.Increase savings
D.Decreaseconsumption

Correct Answer: A

If interest rate are too low and credit is too, cheap rates can fund a spending boom with consumers and businesses buying (investment) more than they can afford to pay back.

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Question 7

According to Dr. Mari Sako, which of the following is potentially the weakest trust to be built?

A.Competence trust
B.Goodwill trust
C.Charitable trust
D.Contractual trust

Correct Answer: D

Trust is the expectation that the other party will behave in a predictable and mutually acceptable way. In inter-firm relationships, the presence and absence of trust can affect the level of cost in a relationship. The existence of trust is taught to lower the transaction cost in a relationship. Dr. Mari Sako identified taxonomy of
3 types of trust in commercial relationship, whichis very useful from the perspective of procurement.
Contractual trust: Trust based on the contract with TOP. This is potentially the weakest source of trust if there is nothing else to base the trust on, but it is the quickest to establish.
Competence trust: Trust based on TOP's professional qualifications or proven or certified technical capability or experience.
Goodwill trust: Trust based on knowing TOP has your interest at heart and will not behave opportunistically.
This is potentially the strongest type of trust, but it takes the longest time to build.
Otherwise, trust also has legal meaning. A trust is a legal document that can be created during a person's lifetime and survive the person's death. A trust can also be created by a will and formed afterdeath. Charitable trusts are trusts which benefit a particular charity or the public in general.

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Question 8

During a negotiation, a procurement manager suggests that the two companies should split the difference which would benefit both the supplier and buyer. Which persuasion method is she using?

A.Compromise
B.Threat
C.Good cop/bad cop
D.Logic

Correct Answer: A

In the scenario, the manager propose to 'split the difference', which means each party will accept some of their demands and concede some. This is known as 'Compromise'.

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Question 9

Which of the following is the most appropriate pricing arrangement in contracts where major inputs are commodities?

A.Price adjustment mechanism
B.Cost reimbursable pricingarrangement
C.Standard schedule of rates
D.Fixed pricing arrangement

Correct Answer: A

In contracts which have major commodity input, the price is determined by market forces with no individual supplier or buyer able to influence it significantly.Prices are much more variable even within long term contracts and seeking a fixed price would create financial risks for both the buyers and the suppliers. It is often intelligent to agree a contract price adjustment mechanism to allow for market price changes so both sides share risk.

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Question 10

Which of the following is the area where two or more negotiating parties may find common ground?

A.Zone of potential agreement
B.Zone of proximal development
C.Walk away area
D.Best alternative to a negotiated agreement

Correct Answer: A

Explanation
The zone of possible agreement (ZOPA) orbargaining range is considered an area where two or more negotiating parties may find common ground. It is this area where parties will often compromise and strike a deal. In order for negotiating parties to find a settlement or reach an agreement, they must work towards a common goal and seek an area that incorporates at least some of each party's ideas.
The zone of proximal development refers to the difference between what a learner can do without help and what he or she can achieve with guidance and encouragement from a skilled partner.
There is no Walk away area. Walk away point is a position from which you cannot concede any more ground and must walk away/decline a deal.
Best alternative to a negotiated agreement is a fallback or backstop position if the negotiation fails to result in an agreement/no deal is agreed.
LO 1, AC 1.2

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