Free L4M5 Exam Questions - Easiest Way for Success

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Total 165 Questions | Updated On: Sep 11, 2024

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Question 1

Which of the following is considered a weakness of a ‘dealer’ style negotiator?

A : May shift position quickly

B : May be too assertive

C : Focuses on the facts and not the people

D : Very precise

Answer: A

Question 2

JCB is a large manufacturer of heavy machinery. The CPO is going to a negotiation with a Chinese supplier

about procuring some major components. He is wondering about balance of power in the negotiation. Which

of the following micro factors are most likely to shift the balance of power towards the buying organisation in

this commercial negotiation? Select TWO that apply

A : Buyers purchase in small volumes

B : Suppliers are more concentrated than buyer

C : Eruption of epidemic in supply market

D : JCB's switching costs are low

E : These components are highly standardised

Answer: A,D

Question 3

Which of the following are most likely to be the potential cultural differences that can make transactions with an international supplier more problematic that with local suppliers? Select TWO that apply.

A : Incoterms and logistics difficulties

B : The use and interpretation of body language

C : Currency exchange fluctuation

D : The importance of timescales

E : Payment mechanism

Answer: B,D

Question 4

A good negotiator invests time in understanding the needs of the individuals in a negotiation. Is this statement true?

A : Yes, because individuals' needs always unify with their own organisation's needs and wants

B : No, becausenegotiator should attempt to satisfy the needs of the other organisation only

C : No, because satisfying individual needs will lead to conflict of interest and unethical practices

D : Yes, because individual needs largely influence the outcomes of the negotiation

Answer: D

Question 5

Katie is preparing a negotiation with a strategic supplier. Through deep market analysis, she realises that her

company and the supplier have equal bargaining power. Via regular communication, Katie knows that both

parties are arguing on amount of liquidated damages and neither party shall concede all of their requirements

but some are negotiable. Katie and her counterpart from supplying company still desire a long-term

relationship and hope that the meeting between them will be a solution for current situation. Which of the

following isthe most appropriate approach that Katie should adopt to achieve the above outcome?

A : Avoiding approach

B : Competing approach

C : Compromising approach

D : Accommodating approach

Answer: C

Page: 1 / 33

Total 165 Questions | Updated On: Sep 11, 2024

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