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CIPS L4M5 Exam Syllabus Topics:

SectionObjectives
Topic 1: Negotiation planning and preparation- Preparation techniques
  • 1. Setting objectives and targets
    • 2. Information gathering and analysis
      • 3. BATNA and reservation points
        Topic 2: Power, ethics and communication in negotiation- Influencing factors
        • 1. Sources of negotiation power
          • 2. Ethical considerations in negotiation
            • 3. Communication and interpersonal skills
              Topic 3: Negotiation strategies and tactics- Approaches to negotiation
              • 1. Collaborative and competitive strategies
                • 2. Tactical behaviours and influence techniques
                  • 3. Concession strategies
                    Topic 4: Negotiation fundamentals- Principles of commercial negotiation
                    • 1. Types of negotiation (distributive vs integrative)
                      • 2. Definition and purpose of negotiation

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                        CIPS Commercial Negotiation Sample Questions (Q20-Q25):

                        NEW QUESTION # 20
                        XYZ Ltd needs to purchase a bundle of IT products from suppliers. The procurement manager requests details of costs regarding designing and managing those products. After receiving reports from suppliers, she realises that they have charged up to a 1,095% mark-up on IT products. In order to ensure value for money, which of the following should be a priority pricing arrangement of the procurement manager in the negotiation with these IT suppliers?

                        Answer: B

                        Explanation:
                        In the scenario, the main cost driver is suppliers' mark-up. The priority should be limit the margin to be added.
                        XYZ Ltd can agree "cost plus"contracts with their suppliers to ensure no IT product purchased exceeds an agreed maximum margin level. Procurement teams can use their benchmarking tools to police these contracts.
                        Cost plus contracts are agreements where the contractor's pricing is based on itemising allowable costs and then adding an agreed margin.
                        Market penetration pricing - pricing low to win a large share of the market Market skimming - pricing a new product high in order to make a large profit from the purchases by initial customers. This is an effective strategy only in the absence of competition.When competition appears, market skimmers usually drop their prices Premium pricing - usually pricing high because the market is prepared to pay extra for the kudos associated with the product, thanks to, say, a reputation for quality, or a highly fashionable brand name, and so on


                        NEW QUESTION # 21
                        According to Professor Gavin Kennedy, in which of the following forms of dispute resolution, both parties will voluntarily exchange their ideas and beliefs?

                        Answer: B

                        Explanation:
                        Professor Gavin Kennedy highlights that we need to distinguish negotiation from other forms of decision-making by focusing on what is unique about it (the voluntary exchange) and not shared by other techniques such as persuasion, gambling (e.g., coin tossing), command decision, instruction, litigation and coercion.


                        NEW QUESTION # 22
                        In preparation for holding negotiation meetings with existing suppliers, category manager Stephen would like to appraise the bargaining strength of his organisation. Which of the following are examples of buyer power?
                        Select TWO that apply:

                        Answer: B,C

                        Explanation:
                        Reference: CIPS L4M5 Study Guide, Section 2.3 - Market Factors and Analysis


                        NEW QUESTION # 23
                        Telephone is most likely to be used for which of the following negotiations?

                        Answer: D

                        Explanation:
                        Many commercial negotiations could be considered routine or just not worth the investment for buyers, and using the phone can make more sense and can be more immediate.
                        LO 2, AC 2.4


                        NEW QUESTION # 24
                        Premium pricing strategies used by suppliers are characterised by which of the following? Select TWO that apply.

                        Answer: D,E

                        Explanation:
                        There are several pricing strategies used by suppliers:
                        Cost-plus pricing - Total variable + Fixed cost + profit
                        Premium pricing - based on branding. Supplier determines to charge a very high price, notconnected with cost structures, usually based on its reputation and/or the perception that the product/service is of a superior quality. This strategy typically found in the early part of the product life cycle/when demand exceeds supply.
                        Penetration pricing - Supplier attempts to enter a new market or extend its share in an established one. It is characterised by price reductions to increase volume, followed by steady price increases; may even be loss leading at start (no profit made) Marginal cost pricing - covers only variable cost Market pricing - suppliers prices in line with what the market is willing to pay


                        NEW QUESTION # 25
                        ......

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