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Free L4M5 – Commercial Negotiation Practice Test Question

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Showing 4–6 of 10 questions

Question 4

Professional buyer is planning for the next negotiation of a simple one-off contract. This negotiation is typified by which of the following? Select TWO that apply.

Select all that apply, then click Submit answer.

  • ○

    Continuous dialogue with supplier

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    Total cost of ownership is themost important criterion

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    Vendor ratings will be used

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    Arm's-length approach

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    Pricing is the most important criterion


Question 5

Which of the following are most likely to help buyer become preferred customer in supplier's perspective? Select TWO that apply.

Select all that apply, then click Submit answer.

  • ○

    Onerous supplier terms and conditions

  • ○

    Compliance with agreed repair lead time

  • ○

    Shorter payment period

  • ○

    Reduction in delivery errors

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    Ensuring an increased number of repeat orders


Question 6

When is the best time in procurement process in which procurement should get involved so that the cost-saving opportunities are the greatest?

Select an option, then click Submit answer.

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    Market consult stage

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    Post-contract stage

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    Specification stage

  • ○

    Post-tender stage