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CIPS L4M5 Exam Syllabus Topics:

Section	Objectives
Power, ethics and communication in negotiation	- Influencing factors 1. Sources of negotiation power 2. Communication and interpersonal skills 3. Ethical considerations in negotiation
Negotiation planning and preparation	- Preparation techniques 1. BATNA and reservation points 2. Information gathering and analysis 3. Setting objectives and targets
Negotiation strategies and tactics	- Approaches to negotiation 1. Tactical behaviours and influence techniques 2. Collaborative and competitive strategies 3. Concession strategies
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 (Q93-Q98):

NEW QUESTION # 93
Which of the following is a source of information on microeconomic factors?

A. Published economic indices such as the Retail Price Index (RPI)
B. The marketing and corporate communications of suppliers
C. Analysis published in the mainstream and financial media
D. Data published by the financial markets and commodity markets and exchanges

Answer: D

Explanation:
Microeconomic data specific to industries, suppliers, or products can often be found in commodity markets, trade exchanges, and financial databases. These provide detailed insights on supply, demand, pricing, and trends.
Reference: L4M5 Commercial Negotiation 2nd edition (CORE), Section 2.2 - Information Sources for Market and Economic Analysis

NEW QUESTION # 94
Which of the following are effective approaches when procurement professionals negotiate with monopoly suppliers?
1. Delaying payment with monopoly suppliers as long as possible to increase bargaining power
2. Setting up stronger BATNA
3. Engaging in the negotiation with a distributive approach
4. Eliminating requirements in the specification that prioritises monopoly suppliers

A. 2 and 4 only
B. 1 and 4 only
C. 3 and 4 only
D. 2 and 3 only

Answer: A

Explanation:
:
In most commercial negotiations with monopolistic organisations, one can expect that in general they will have far greater bargaining power - you will need them more than they need you. There BATNA is stronger in the short run, but over time their power can be challenged effectively.
Ways of dealing with monopoly suppliers include the following:
Making yourself an attractive buyer
Seeking out alternatives / substitutes in a private or public manner
Designing out the requirement that forces you to go to the monopoly suppliers, or seek to make the product, or threaten to make it yourself if feasible Lobbying government or campaigning, as part of an industry or trade body, for a reduction in barriers to entry that support the monopoly

NEW QUESTION # 95
Which of the following are most likely to be abilities of a person with high emotional intelligence? Select TWO that apply.

A. Complex idea comprehension
B. Reasoning and problem solving Abstract thinking
C. Controlling one's own emotions
D. Perceiving how others feel

Answer: C,D

Explanation:
Emotional Quotient is the set of skills that enables us to make our way in a complex world - the personal, social and survival aspects of overall intelligence, the elusive common sense and sensitivity that are essential to effective daily functioning. It has to do with the ability to read the political and social environment, and landscape them; to intuitively grasp what others want and need; what strengths and weaknesses are; to remain unruffled by stress; and to be engaging. The kind of person others want to be around and follow.
EQ seeks to measure emotional intelligence and is centred on abilities such as the following:
- Identifying emotions
- Evaluating how others feel
- Controlling one's own emotions
- Perceiving how others feel
- Using emotions to facilitate social communication
- Relating to others
On the other hand, cognitive ability is defined as a general mental capability involving reasoning, problem solving, planning, abstract thinking, complex idea comprehension, and learning from experience (Gottfredson,
1997).
LO 3, AC 3.3

NEW QUESTION # 96
Buyers should have the ability to analyse the costs of their purchases not only for determining their impact to their organisation's cost but also for the purpose of reducing them during commercial negotiations to contribute to the profitability of their organisation. One way of analysing costs is to classify them into direct and indirect costs. Which ONE of the following is an explanation of 'direct costs'?

A. Costs of materials, labour, and other expenses that are directly identified with manufactured units of a product
B. Costs that are connected with materials and labour, excluding expenses used directly in manufacturing products
C. Costs of labour and expenses incurred directly whether or not the production fluctuates owing to demand or downtime
D. Costs that are only related to manufacturing firms where raw materials are directly converted into specific product units

Answer: A

NEW QUESTION # 97
Which of the following is a disadvantage of absorption costing method?

A. Fixed cost allocated to products on the basis of the cost of activities used in producing them
B. Variable costs are not taken into product final costs
C. Using marginal cost of producing addition units
D. Limited understanding of true costs incurred

Answer: D

Explanation:
Absorption costing is an approach to allocating overheads in which indirect costs are loaded or absorbed into direct costs related to specific jobs, processes or outputs, using an estimated basis of allocation.
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NEW QUESTION # 98
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