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CIPS L4M5 Exam Syllabus Topics:

SectionWeightObjectives
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
- 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
- Negotiation criteria and objectives
  • 1. Prioritising issues and trade-offs
  • 2. Defining measurable outcomes
Understand key approaches in the negotiation of commercial agreements with external organisations35%- Power dynamics in negotiation
  • 1. Sources of power and influence
  • 2. Relationship types and their effect on negotiation
  • 3. Impact of power balance on outcomes
- Application of commercial negotiations in procurement and supply
  • 1. Sources and management of conflict
  • 2. Position within the CIPS procurement cycle
  • 3. Team and stakeholder management in negotiation
  • 4. Definitions and purpose of commercial negotiation
- Types of negotiation approaches
  • 1. BATNA, target setting and reservation price
  • 2. Collaborative / integrative (win-win)
  • 3. Distributive / competitive (win-lose)
  • 4. Pragmatic and principled negotiation styles
Understand how commercial negotiations should be undertaken30%- Review and improvement
  • 1. Evaluating results and performance
  • 2. Documenting agreements and lessons learned
- Tactics and influencing methods
  • 1. Managing concessions and deadlocks
  • 2. Cultural and ethical considerations
  • 3. Persuasion and influencing techniques
- Stages of negotiation
  • 1. Opening, exploring, bargaining, closing and implementing
- Communication skills
  • 1. Active listening and questioning
  • 2. Non-verbal communication and emotional intelligence

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CIPS Commercial Negotiation Sample Questions (Q96-Q101):

NEW QUESTION # 96
XYZ Ltd is importing goods from overseas. They prefer to pay their supplier in their own currency. Which of the following is a true statement?

Answer: B

Explanation:
The effect of a change of relative exchange rates will be determined by which currency you pay your supplier in.
Table Description automatically generated

LO 2, AC 2.2


NEW QUESTION # 97
A buying organisation with a low spend and the reputation for paying late might be viewed by a supplier as which of the following?

Answer: B

Explanation:
To answer this question, you should know The seller's perspective as in 'How to Negotiate Professionally':
In the scenario, the buyer's spend is low, while they seem unattractive to seller (as they tend to pay late). So the buyer is classified as Nuisance in seller's perspective.


NEW QUESTION # 98
Which of thefollowing is an objective of proposing phase?

Answer: D

Explanation:
In the study guide, CIPS lists 5 stages of an negotiation:
The opening phase: confirm understanding and get the issues on the table. At this stage, both parties should check agenda, authority and create atmosphere conducive to agreement The testing phase is an information gathering stage where the hypothesis and assumptions you have made in the planning stage can be tested and confirmed or disconfirmed The proposing phase: Both sides may start making tentative proposals regarding their offering.
The bargaining phase: Both parties trade concessions; the preliminary stages are over and proposals move from being tentative and general to being more definite and specific.
The agreement and closing phase: both parties should seek agreement or if TOP does not have the final authority, some sort of acknowledgement of what key terms are should be sought.


NEW QUESTION # 99
In which of the following costing methods, overhead costs are applied in proportion to production volume?

Answer: A

Explanation:
There are 3 major costing methods:
Marginal costing
* Uses marginal cost of producing addition units
* Uses variable cost to derived a unit cost (does not include fixed cost)
* Fixed cost treated as a 'period cost' and deducted, as a total amount, from total contribution to profit for the period, in the firm's profit and loss account Absorption costing
* Calculates total cost of producing product
* In addition to variable cost, a fair proportion of fixed cost is allocated to (absorbed) eachunit of output, as a fixed cost per unit Activity based costing
* Similar to absorption costing but with fixed cost allocated to products on the basis of the cost of activities used in producing them LO 2, AC 2.1


NEW QUESTION # 100
Which of the following are most likely to turn buying organisation into an unattractive customer in supplier's perspective? Select TWO that apply.

Answer: A,E

Explanation:
Becoming a preferred customerto supplier's perspective can increase the purchaser's leverage in negotiation.
Beside the size of buying organisation or its spend, the following may be sufficient to differentiate the buyer from other buying organisations:
Simple procurement processes: Using SRM technology may help to simplify the process Simple contracting processes Clear and concise documentation: Reduced paperwork helps both supplier and buyer save their time and resources.
Absence of onerous supplier terms and conditions
On-time payment
Transparent processes: Unclear tender award criteria can be seen as opaque. Suppliers who attended the tendering processes cannot know the reasons why their bids are rejected and hesitate to attend other tendering.
Ethical behaviour: Suppliers may prefer a buyer who adopts CSR policy because they can predict potential customer's behaviour. Demands for kickback are unethical behaviours.


NEW QUESTION # 101
......

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