Accurate CIPS - L4M5 - Reliable Commercial Negotiation Exam Materials

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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: Negotiation strategies and tactics- Approaches to negotiation
        • 1. Concession strategies
          • 2. Collaborative and competitive strategies
            • 3. Tactical behaviours and influence techniques
              Topic 3: Power, ethics and communication in negotiation- Influencing factors
              • 1. Communication and interpersonal skills
                • 2. Ethical considerations in negotiation
                  • 3. Sources of negotiation power
                    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 (Q264-Q269):

                        NEW QUESTION # 264
                        Jasmine and the IHL sales team have a negotiation scheduled with one of AB's lead buyers, Samuel, at AB's premises. This is one of the biggest negotiations that Jasmine has been involved in and is eager not to make any mistakes. Jasmine has heard from a colleague that Samuel tends to adopt an integrative negotiation style.
                        IHL senior management decides to send a team of three members to the negotiation. Jasmine is among the team and she is assigned to check body language, reactions, feeds insight to her leader and to record important comments and information from the meeting for minutes. Which of the following are roles of Jasmine in the forthcoming negotiation? Select TWO that apply.

                        Answer: A,D

                        Explanation:
                        :
                        A negotiating team can be as few as two people, and one person can play one or more of these roles:
                        Table Description automatically generated

                        As from the scenario, Jasmine will act as an observer and a scribe (or secretary).


                        NEW QUESTION # 265
                        Active listening in negotiation includes which of the following activities?
                        1. Hearing
                        2. Interpreting
                        3. Rapport
                        4. Influence

                        Answer: C

                        Explanation:
                        Listening is a hugely important skill in the world of work. It's a key part of effective communication [...].
                        Regarding active listening, there is a model called 'The SIER Hierarchy of Active Listening'. It details four key stages required for effective listening. As with all models associated with active listening, its purpose is to help the listener be a better, more effective listener who really hears what is being said, connects with the individual with whom they are communicating and builds effective relationships.
                        The model is a hierarchical model meaning that each stage builds on the stage before it. While the model is sometimes used for training in the sales arena, it is helpful in all walks of life. The stages of the model are:
                        Sensing (including hearing and watching body language), Interpreting, Evaluating and Responding.
                        Text Description automatically generated with low confidence


                        NEW QUESTION # 266
                        Absorption costing is when the total cost per each unit of output:

                        Answer: C


                        NEW QUESTION # 267
                        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

                        Answer: C,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 # 268
                        Which of the following is the purpose of using stakeholder support level scale?

                        Answer: A

                        Explanation:
                        In order to estimate the gap and the progress towards desired level of support, a stakeholder support scale can be used by the procurement internally. The support level scale measures stakeholder commitment. Current support level for the procurement/negotiation objectives should be gained from engagement with key stakeholders. The following is an example of stakeholder support level scale:
                        LO 1, AC 1.1


                        NEW QUESTION # 269
                        ......

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