CIPS L4M5 Exam - Topic 4 Question 51 Discussion

Actual exam question for CIPS's L4M5 exam

Question #: 51
Topic #: 4

[All L4M5 Questions]

A procurement professional is preparing for a negotiation with supplier. She is setting targets for price which her company is seeking to achieve. Which of the following acronyms can help her identify limits before engaging in the negotiation?

AMIL

BRAQSCI

CTIMWOOD

DPPCA

Show Suggested Answer

Suggested Answer: B

The following graph shows the factors that shift the supply curve to the left and to the right.

- CIPS study guide page 103

- Principles of Microeconomics 2e, 2017, Open Stax - Rice University.

LO 2, AC 2.2

by Karl at Dec 21, 2023, 08:11 AM

Limited Time Offer

25%

Off

Get Premium L4M5 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Elfrieda

3 months ago

MIL is definitely not the right choice here.

upvoted 0 times

...

Louvenia

3 months ago

I've never heard of PPCA before, what's that?

upvoted 0 times

...

Tiara

3 months ago

Wait, isn't TIMWOOD about waste reduction?

upvoted 0 times

...

Felix

4 months ago

Totally agree, RAQSCI covers all bases!

upvoted 0 times

...

Larae

4 months ago

I think RAQSCI is the one for setting limits.

upvoted 0 times

...

Tracey

4 months ago

MIL seems like it could be relevant, but I don't think I've seen it used in the context of negotiations before.

upvoted 0 times

...

Shantay

4 months ago

I’m leaning towards PPCA because it sounds familiar in the context of setting targets, but I can't recall the specifics.

upvoted 0 times

...

Lashon

4 months ago

I practiced a question similar to this, and I feel like TIMWOOD was more about waste reduction than negotiation limits.

upvoted 0 times

...

Lorrine

5 months ago

I think I remember something about RAQSCI being related to negotiation limits, but I'm not entirely sure how it applies.

upvoted 0 times

...

Detra

5 months ago

I think the key here is to identify the acronym that specifically relates to setting targets and limits for a negotiation. PPCA sounds like it could be the right answer, but I'll double-check the others just to be sure.

upvoted 0 times

...

Carey

5 months ago

I'm a bit confused by the options here. I'm not familiar with all of these acronyms, so I'll need to do some quick research to figure out which one is the best fit.

upvoted 0 times

...

Leota

5 months ago

Okay, let's see. I'm pretty sure the answer is PPCA, since that's the one that sounds most related to procurement and negotiation.

upvoted 0 times

...

Vinnie

5 months ago

Hmm, this one seems tricky. I'll need to think carefully about the different acronyms and what they might represent.

upvoted 0 times

...

Leonora

5 months ago

Ah, I've seen PPCA used in procurement before. That's definitely the one I would go with. It stands for "Price, Profit, Cost, and Alternatives," which seems perfect for this scenario.

upvoted 0 times

...

Wilford

5 months ago

I've used ifup and ifdown before, so I'm feeling confident about those. But the question is asking for two commands, so I'll need to double-check the other options.

upvoted 0 times

...

Tayna

5 months ago

Hmm, I'm a bit unsure about this one. I'll need to think it through carefully and review my notes on federal financial auditing.

upvoted 0 times

...

Art

5 months ago

I feel pretty confident about this one. I think option B is the way to go - having the student submit questions in writing beforehand is a great way to ensure they can participate actively. The other options seem a bit risky or may not fully address the student's needs.

upvoted 0 times

...

Marsha

5 months ago

Hmm, this seems like a tricky one. I'll need to think carefully about the key characteristics of event-driven architecture.

upvoted 0 times

...

Tish

10 months ago

I wonder if RAQSCI stands for 'Really Awesome Quotation Securing Criteria Identified'. That would be a hilarious take on it!

upvoted 0 times

Catarina

8 months ago

A: Yeah, it's important for the procurement professional to know the acronyms to set negotiation targets.

upvoted 0 times

...

Wilburn

9 months ago

B: That's a funny interpretation! But I believe it actually stands for something else.

upvoted 0 times

...

Catarina

9 months ago

A: I think RAQSCI stands for 'Really Awesome Quotation Securing Criteria Identified'.

upvoted 0 times

...

Nickole

10 months ago

MIL? What is this, a military operation? I'm pretty sure RAQSCI is the answer we're looking for.

upvoted 0 times

Coral

9 months ago

Yeah, RAQSCI is definitely the acronym to help us identify limits before the negotiation.

upvoted 0 times

...

Denae

9 months ago

I think RAQSCI is the one we need to focus on for setting negotiation targets.

upvoted 0 times

...

Hannah

9 months ago

MIL? That does sound like a military operation.

upvoted 0 times

...

Catina

10 months ago

TIMWOOD? I thought that was just for lean manufacturing, not procurement negotiations. Clearly, RAQSCI is the way to go.

upvoted 0 times

...

Lashaunda

10 months ago

PPCA? Really? Sounds like a made-up acronym to me. I'll stick with the classic RAQSCI.

upvoted 0 times

Casandra

9 months ago

Yeah, PPCA does sound made-up. Stick with RAQSCI for sure.

upvoted 0 times

...

Leota

9 months ago

I agree, it helps to identify limits before engaging in the negotiation.

upvoted 0 times

...

Francesco

10 months ago

RAQSCI is a great acronym to use for setting negotiation targets.

upvoted 0 times

...

Matt

10 months ago

I think TIMWOOD could also be helpful in setting targets for price before negotiation.

upvoted 0 times

...

Adelina

10 months ago

I disagree, I believe the acronym RAQSCI would be more useful in this situation.

upvoted 0 times

...

Zona

10 months ago

I think the acronym MIL can help her set limits.

upvoted 0 times

...

Desirae

10 months ago

I think the answer is C) TIMWOOD because it helps in setting limits before negotiation.

upvoted 0 times

...

Willie

11 months ago

Hmm, RAQSCI seems like the way to go here. Gotta set those limits before the big negotiation!

upvoted 0 times

Jerilyn

9 months ago

I'm not sure about PPCA, it doesn't seem as relevant for setting negotiation limits.

upvoted 0 times

...

Isabella

10 months ago

TIMWOOD might be helpful too, it covers a lot of different aspects to consider.

upvoted 0 times

...

Shantay

10 months ago

I think MIL could also be useful in this situation.

upvoted 0 times

...

Jackie

10 months ago

I agree, RAQSCI is a great acronym to help set those limits.

upvoted 0 times

...

Mel

11 months ago

I disagree, I believe the answer is B) RAQSCI.

upvoted 0 times

...

Denae

11 months ago

I think the answer is A) MIL.

upvoted 0 times

...