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CIPS L4M8 on Chapter Two Prerequisite Pretest Exam Training Questions with Rated A + Marking Scheme Latest 2024/2025 $10.99
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CIPS L4M8 on Chapter Two Prerequisite Pretest Exam Training Questions with Rated A + Marking Scheme Latest 2024/2025
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Negotiating tactics: Take it or leave it - correct answer The buyer states the price that they require and says that it cannot be changed. The supplier has to 'take it or leave it' Negotiating tactics: good cop, bad cop - correct answer The buyer takes a colleague to the negotiation, and one per...

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  • November 17, 2024
  • 41
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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CIPS L4M8 on Chapter Two Prerequisite
Pretest Exam Training Questions with Rated
A + Marking Scheme Latest 2024/2025

Negotiating tactics: Take it or leave it - correct answer The
buyer states the price that they require and says that it cannot
be changed. The supplier has to 'take it or leave it'


Negotiating tactics: good cop, bad cop - correct answer The
buyer takes a colleague to the negotiation, and one person acts
empathetically, while their colleague acts harshly. The aim is to
get the supplier to please the empathetic person, which produces
favourable terms for the buying organisation


Negotiating tactics: Salami - correct answer The buyer
divides the concessions that they are willing to make on the price
into small, 'bite-sized' pieces to discuss with the supplier. This
way the supplier may not realise they are conceding as much as
they are


Negotiating tactics: One last thing - correct answer The
buyer makes one final request of the supplier, just when
agreement is about to be made. At this stage, the supplier is so
close to agreement that they will hopefully agree to the buyers
extra requirement


Negotiating tactics: Russian front - correct answer Two offers
are presented, but one of them will never be accepted as it is
unreasonable. The unreasonable offer is explained first so that
when the second offer is presented, it is much more appealing
compared to the first option

,Negotiating tactics: Mother hubbard - correct answer The
buyer states that the 'cupboard is empty' and that they cannot
offer any more, ie they cannot afford to increase their bid


Negotiating tactics: Log rolling - correct answer The buyer
presents many requests, where some have little or no value.
When giving concessions, the low-value requests can be
conceded with no negative effect


Negotiating tactics - correct answer - Take it or leave it
- Good cop, bad cop
- Salami
- One last thing
- Russian front
- Mother hubbard
- Log rolling


For a procurement professional to buy goods or services in
response to a need, they sometimes require a bespoke
specification.
Terms for the specifications could include the following -
correct answer - Technical drawings
- Industry standards
- Recipes or formulae
- Brands
- Samples

,Payment terms are the terms of the contract that - correct
answer specify when the buying organisation should pay the
supplying organisation


Payment terms are expressly written into the contract and are
often stated as - correct answer - Proforma
- Net 30 days
- Net 45 days
- Net 60 days


Primary terms are - correct answer those that relate to
products or services being supplied


Secondary terms are - correct answer those that relate to
payment, damages or failure to perform


Warranties are a ....... term - correct answer secondary


Warranties are - correct answer a promise from the supplier
to the buyer that the product or service supplier will meet the
agreed specification


Warranties that are written into the contract are - correct
answer express terms. However if no warranty is expressly
written, the implied terms state that the product or service has
to be fit for purpose

, The advantage of creating an express warranty term is to -
correct answer make sure that the procurement professionals
purchase order is received exactly as required


A condition within a contract states - correct answer one or
both parties obligations. These are obligations that are
fundamental to the performance of the contract


The retention of title (RoT) clause in a contract states - correct
answer when ownership transfers from the supplier to the
buying organisation


The rentention of title clause (RoT) only applies to - correct
answer products


What is the retention of title clause also known as? - correct
answer Romalpa clause


Contractual breaches can be classified into three categories -
correct answer - Material
- Anticipatory
- Fundamental


Material breach of contract - correct answer One of the
parties fails to perform its agreed responsibilities and the
contract ceases

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