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CIPS L4M5 Exam Syllabus Topics:

Topic	Details
Topic 1	How purchasers can improve leverage with suppliers The importance of power in commercial negotiations
Topic 2	Building relationships based on reputation, and trust Repairing a relationship The relationship spectrum
Topic 3	Team management and the influence of stakeholdebest alternative to a negotiated agreement (BATNA)rs in negotiations Definitions of commercial negotiation
Topic 4	Setting targets and creating a Collaborative win-win integrative approaches to negotiations
Topic 5	Analyse how to assess the process and outcomes of negotiations to inform future practice Protecting relationships after the negotiation
Topic 6	Setting objectives and defining the variables for a commercial negotiation Use of telephone, teleconferencing or web-based meetings
Topic 7	Organisational power: comparing the relative power of purchasers and suppliers Explain how the balance of power in commercial negotiations can affect outcomes
Topic 8	Differentiate between the types of approaches that can be pursued in commercial negotiations Distributive win-lose, distributive approaches to negotiation
Topic 9	How behaviours should change during the different stages of a negotiation Compare the key communication skills that help achieve desired outcomes
Topic 10	Identify the different types of relationships that impact on commercial negotiations Pragmatic and principled styles of negotiation
Topic 11	Costing methods such as absorption, marginal or variable and activity-based costing Know how to prepare for negotiations with external organisations
Topic 12	Analyse the application of commercial negotiations in the work of procurement and supply Negotiation in relation to the stages of the sourcing process

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CIPS Commercial Negotiation Sample Questions (Q36-Q41):

NEW QUESTION # 36
Which of the following are typical characteristics of activity-based costing (ABC) method? Select TWO that apply.

A. ABC has tended to over cost products on long runs and under cost those on short runs
B. ABC provides the information required to take action and realise improvements
C. Costs are allocated based on volume
D. Limited understanding of true costs incurred
E. Variable and all related overhead expenses are specifically assigned to a business activity

Answer: B,E

Explanation:
Activity-based costing is an alternative approach to traditional absorption costing. The characteristics of these two methods are illustrated in the graph below:
Graphical user interface, text, chat or text message, website Description automatically generated

NEW QUESTION # 37
A procurement professional is preparing for anegotiation 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?

A. PPCA
B. TIMWOOD
C. RAQSCI
D. MIL

Answer: D

Explanation:
MIL criteria indicate 3 limits that negotiator should establish:
M - Must achieve: minimum target/maximum you can concede on this point; the mandatory requirement or fall back position I - Intend to achieve: realistic target you are aiming for on this point L - Like to achieve: stretch target to achieve on this point.
PPCA is purchase cost analysis
TIMWOOD indicates 7 types of waste in Lean principles
The RAQSCI model is a mnemonic summary of a business model used to define and structure business requirements

NEW QUESTION # 38
A procurement team has discussed, in advance of a negotiation, what they will do if there is no agreement with the current supplier. They have decided that they will perform the services themselves in-house on a trial basis if no deal is made. Which of the following describes what they have prepared here?

A. Offer of Agreement
B. The Bargaining Mix
C. Walk Away Point
D. Best Alternative to a Negotiated Agreement

Answer: D

Explanation:
Reference: CIPS L4M5 Study Guide, Section 3.1 - Planning and Preparation for Negotiation

NEW QUESTION # 39
All of the following shift the supply of watchesto the right except...?

A. An advance in the technology used to manufacture watches
B. An increase in the price of watches
C. A decrease in the wage of workers employed to manufacture watches
D. Manufacturers' expectation of higher watch prices in thefuture

Answer: B

Explanation:
Explanation
A supply curve will slope upward from left to right showing more supply at higher prices, as illustrated in the graph below:
A picture containing chart Description automatically generated

A movement along the supply curve will be brought about by a change in price, but a shift of the whole curve will be caused by a determinant other than price:
- The physical feasibility and time and energy required to produce the products
- Technology and innovation
- The objectives of the producers and their future expectations
- Prices of other goodsand services
- Government's policies
LO 2, AC 2.2

NEW QUESTION # 40
Sumitomo Rubber Industries (SRI) is a Japan-based tyre manufacturer. In order to increase production, SRI is sourcing rubber from Southeast Asian firms. Which of the following micro factors are most likely to shift the balance of power to supplier? Select TWO that apply

A. There are no close substitutes for rubber
B. Rubber from different suppliers is virtually similar
C. SRI's purchase amount makes significant proportion of supplier revenue
D. Costs of changing suppliers are high
E. SRI sets up its own rubber plantation

Answer: A,D

Explanation:
There are many factors that can influence the balance of power in a negotiation. These factors are classified into 3 levels:
Macro level: STEEPLE framework: social, technological, economic, environment, political, legal and ethical Micro level: Porter's five forces:

Diagram Description automatically generated
One-to-one buyer-supplier dynamics.
The question asks about the micro factors that increases supplier's bargaining power. Among 5 answers, only 2 are likely to increase buyer's power:
There are no close substitutes for rubber: the buyer has to buy rubber, not any other material.
Costs of changing suppliers are high: buyer entails a large barrier if they want to switch supplier.
Other answers cannot be correct because:
SRI sets up its own rubber plantation: Buyer secures its own supply
SRI's purchase amount makes significant proportion of supplier revenue: Suppliers are reliant on buyer. If the buyer stops buying from them, they can face serious cash flow problems Rubber from different suppliers is virtually similar: undifferentiated product would shift the power balance towards buyer.

NEW QUESTION # 41
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