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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Know how to prepare for negotiations with external organisations35%- Economic and market factors
  • 1. Supply and demand conditions
  • 2. Market structure and competition
  • 3. Inflation, exchange rates and risk factors
- Negotiation criteria and objectives
  • 1. Defining measurable outcomes
  • 2. Prioritising issues and trade-offs
- Planning and resources
  • 1. Information gathering and market intelligence
  • 2. Team roles and preparation plans
- Cost and price analysis
  • 1. Cost modelling and price analysis techniques
  • 2. Types of costs and pricing structures
Topic 2: Understand how commercial negotiations should be undertaken30%- Tactics and influencing methods
  • 1. Cultural and ethical considerations
  • 2. Persuasion and influencing techniques
  • 3. Managing concessions and deadlocks
- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
- Communication skills
  • 1. Non-verbal communication and emotional intelligence
  • 2. Active listening and questioning
- Review and improvement
  • 1. Evaluating results and performance
  • 2. Documenting agreements and lessons learned
Topic 3: Understand key approaches in the negotiation of commercial agreements with external organisations35%- Power dynamics in negotiation
  • 1. Relationship types and their effect on negotiation
  • 2. Impact of power balance on outcomes
  • 3. Sources of power and influence
- Application of commercial negotiations in procurement and supply
  • 1. Definitions and purpose of commercial negotiation
  • 2. Sources and management of conflict
  • 3. Position within the CIPS procurement cycle
  • 4. Team and stakeholder management in negotiation
- Types of negotiation approaches
  • 1. BATNA, target setting and reservation price
  • 2. Pragmatic and principled negotiation styles
  • 3. Distributive / competitive (win-lose)
  • 4. Collaborative / integrative (win-win)

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CIPS Commercial Negotiation Sample Questions (Q31-Q36):

NEW QUESTION # 31
Using emotion as a technique of persuasion is ethical. Is this a true statement?

Answer: D


NEW QUESTION # 32
If the value of the British Pound in other currencies is strong, which of the following is most likely to occur?

Answer: D

Explanation:
Explanation
Currency exchange rates are determined bymacroeconomic factors and demand and supply. In general, countries with stable political and economic systems, a growing economy and a strong rule of law will have stronger and more stable currency than those without these characteristics. In this question, the British Pound is stronger than other currency, which means that buyers who import goods from the UK have to pay higher in their own currencies.
LO 2, AC 2.2


NEW QUESTION # 33
Which of the following is a source of power in organisational relationships?

Answer: C


NEW QUESTION # 34
Different types of relationships impact on commercial negotiations. At a negotiation, which one of the following sources would help to support leverage for the buyer?

Answer: A


NEW QUESTION # 35
Which of the following are features of a single-sourced type of relationship on the relationship spectrum?
Exclusivity granted in relation to a particular product
The supplier is an oligopoly market structure
The supplier is trusted and collaborative
Framework contracts are used to identify the supplier

Answer: D

Explanation:
Single-sourced relationships often involve exclusivity for a specific product (1) and a high level of trust and collaboration (3) between buyer and supplier. This type of relationship is selected for strategic procurement purposes, often involving long-term partnerships, which align with CIPS's relationship spectrum guidelines.


NEW QUESTION # 36
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