Before you begin ✍️
You are about to practice the questions set for
CIPS – Whole Life Asset Management (L4M7) paper 6.
Please put away any distractions and focus all your efforts on passing.
⏱️Time limit: 1 hour 30 minutes
At the end of your examination practice, you will
📝 View your grade
✅ View the correct answers
NOTE: The answers provided haven't been verified by an official CIPS-affiliated entity, therefore consider discussing your concerns with the instructor or fellow students for clarification.
To begin your exam practice,
wait a few seconds for the start button to appear,
then tap the START button.
"We're rooting for you all the way!" All the best. 😃
1.
Smith & Sons is a large organization that is spending 2 significant amount of money, there are plenty of competing.suppliers, the goods being supplied are easy 10 change and are not critical for operations, there is no need for a long-term relationship with supplier. Which conflict management style would be best suited to apply.
2.
Principled negotiation is based on 4 fundamentals. Thinking creatively regarding the benefits both parties get from doing business refers to which principle?
3.
Trust is a difficult concept to define and is often said it cannot be established unless it has been tested. Trust based on the other party's (TOP) professional qualifications or proven or certified technical capability or ‘experience refers to which of the following?
4.
The buyer attractiveness modal allows us to consider supplier perceptions regarding their customer segmentscross 2 key variable: customer spend and customer attractiveness. The resulting matrix produces four quadrants where customers are classified. High spend and law attractiveness refer to which quadrant?
5.
Within a negotiating team, there are various roles and responsibilities which are involved, the person in the team, who is the spokesperson, and leads the negotiation meetings is known as
6.
There are various pricing strategies which are used by suppliers, which of the following pricing strategies would be most suited to a supplier which is attempting to enter a new market, or extend Its share In an established one?
7.
Which of the following are considered weaknesses of a warm negotiating style?(Choose two that apply)
8.
An individual-driven persuasion style in which the person seeking to influence another declares their own view/idea in the expectation that it will be accepted and followed by the other, this is known as what type of persuasion style?
9.
Which of the following Is NOT a source of conflict?
10.
How many approaches are there to conflict resolution?
11.
How many costs are absorbed into direct costs?
12.
Indirect materials Is an absorbed direct cost?
13.
Testing stage Is the first stage in a negotiation?
14.
When do tactics work best?
15.
Which of the following is not a sign of a breakdown of trust In business relationships
16.
There are many macroeconomic factors that could influence procurement commercial negotiations. Which of these is not a factor?
17.
In negotiations, tactical ploys or gambits have two main objectives, to strengthen your perceived position in the other party's eyes and to influence the other party's view of their own position. An example of a tactical ploy is to keep repeating something, i.e the budgetary pressures you are under, to Condition the other party to think you have no money, this is known as what type of ploy?
18.
In a situation where a Buyer needs to utilise their conflict management skills, by adopting an unassertive and un-a cooperative approach to the conflict, which type of style would this reflect?
19.
Which of the following is not a type of costing method?
20.
in relation to absorption costing, which of these costs are not absorbed into direct costs.
21.
Activity based coving is based on
22.
Which of the following is not type of pricing strategy used by suppliers?
24.
Which of the following Is not considered when looking at microeconomics
