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CIPS L4M5 Exam Syllabus Topics:

Topic	Details
Topic 1	How behaviours should change during the different stages of a negotiation Compare the key communication skills that help achieve desired outcomes
Topic 2	Costing methods such as absorption, marginal or variable and activity based costing Know how to prepare for negotiations with external organisations
Topic 3	Setting objectives and defining the variables for a commercial negotiation Use of telephone, teleconferencing or web based meetings
Topic 4	Macroeconomics and its influence on commercial negotiations Contrast the economic factors that impact on commercial negotiations
Topic 5	How purchasers can improve leverage with suppliers The importance of power in commercial negotiations
Topic 6	Organisational power: comparing the relative power of purchasers and suppliers Explain how the balance of power in commercial negotiations can affect outcomes
Topic 7	Team management and the influence of stakeholders in negotiations Definitions of commercial negotiation
Topic 8	Analyse the application of commercial negotiations in the work of procurement and supply Negotiation in relation to the stages of the sourcing process
Topic 9	Understand key approaches in the negotiation of commercial agreements with external organisations Sources of conflict that can arise in the work of procurement and supply
Topic 10	Building relationships based on reputation, and trust Repairing a relationship The relationship spectrum
Topic 11	Identify the different types of relationships that impact on commercial negotiations Pragmatic and principled styles of negotiation

CIPS Commercial Negotiation Sample Questions (Q39-Q44):

NEW QUESTION # 39
Which of the following is NOT a barrier to entry in amonopolized market?

• A. A single firm is very large
• B. The government gives a single firm the exclusive right to produce some good
• C. A key resource is owned by a single firm
• D. The costs of production make a single producer more efficient than a large number of producers

Answer: A Explanation:
Monopolies exist in many markets in real life for very different reasons:
Ownership of a Key Resource: When one company exerts sole control over a resource that is necessary for the production of a specific product,the market may become a monopoly. For example, the only medication deemed acceptable to treat a disease comes from a particular ingredient X, and knowledge of this ingredient X is owned by a single family owned company. The company can, therefore, be saidto have a monopoly over ingredient X that is needed to cure the disease because it is the only company that can produce a product deemed acceptable.
Government Franchise: In certain instances, a monopoly may be explicitly created by the government if it grants a single company, whether private or government-owned, the right to conduct business in a particular market. For example, when a national railways transportation service is created by the government, in most cases they are granted a monopoly on the operation of passenger trains in the country. As a result, other firms are only able to offer passenger train services with the cooperation and/or permission of the government-owned provider.
Intellectual Property Protection: Extending intellectual propertyprotection to a company in the form of patents and copyrights is yet another way in which monopolies are created. When a government does this, it is in fact giving a single company an exclusive right to provide a particular product / service to the market. Patents and copyrights work in providing owners of intellectual property with the right to act as an exclusive provider of a new product for a specific length of time. This creates a temporary monopoly in the market with regards to new products and services.
Natural Monopoly: A market may also become a monopoly simply because it may be more cost-effective for one company to serve the whole market than to have several smaller firms in competition with one another. A company with virtually unlimited economies of scale is referred to as a natural monopoly. Such firms become monopolies due to their position and size, which makes it impossible for new entrants in the market to compete price-wise. Natural monopolies are common in industries with high fixed costsand low marginal costs of operation such as providers of television, telephone, and internet services.
In this question, 'A single firm is very large' is not enough to tell whether this market is monopolistic.
NEW QUESTION # 40
All of the following shift the supply of watchesto the right except...?

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

Answer: D 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 # 41
A procurement professional is preparing for a negotiation of purchasing non-critical commodity products. He knows that the product can be easily replaced by other substitutes in the market. The negotiation for these products is typified by which of the following?

• A. The approach must be collaborative
• B. There will be regular structured negotiations
• C. There will be only limited negotiation
• D. The buyer should focus on wider costs and risk elements

Answer: C Explanation:
Explanation
With non-critical commodity products, the relationship will be transactional. Buyer should not spend too much time and effort into the negotiation.
Table Description automatically generated

LO 1, AC 1.4
NEW QUESTION # 42
Which of the following are most likely to be the potential cultural differences that can make transactions with an international supplier more problematic that with local suppliers? Select TWO that apply.

• A. The use and interpretation of body language
• B. The importance of timescales
• C. Incoterms and logistics difficulties
• D. Payment mechanism
• E. Currency exchange fluctuation

Answer: A,B Explanation:
Explanation
The question requires student to detect factors of cultural differences. Problems may occur on the international scene with such things as the importance of extending courtesy between cultures, the importance of timescales, the use of negotiating ploys, the sense of 'fair play', the use and interpretation of body language, the role of women in negotiations (or indeed, in business in general), the importance of status, the role of conflict, standards of dress and deportment and the readiness to ignore or uphold contract terms and conditions.
LO 3, AC 3.3
NEW QUESTION # 43
In which of the following persuasion methods, the influencer uses logics and objective reasons to persuade the others to buy intoinfluencer's ideas?

• A. Collaborative (pull)
• B. Visionary (pull)
• C. Directive (push)
• D. Persuasive reasoning (push)

Answer: D Explanation:
There are two major persuasion methods: 'push' and 'pull'.
Persuasion can be defined as encouraging someone to do something that you want them to do for you.
Persuasion is reasoning with someone so that they will believe or do something they might not otherwise do.
Persuasion can be considered as 'pushing' on TOP so that they can accept the change in attitude or behaviour as a result of your actions.
Influence is the ability to affect the manner of thinking of another. Influence can be considered as pulling on TOP so that you achieve the same result, but TOP feels they have changed their attitude or behaviour as a resultof their reflection and thinking, and not your direct actions.
There are multiple variables to consider when choosing between 'push' and 'pull'. Professor Fiona Dent of Ashridge Business School proposes situations when each style might be most appropriate, breaking down push into 'directive' and 'reasoning' and 'pull' into 'collaborative' and 'visionary':
Table Description automatically generated

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Using logical and objective reasons is one of the typical characteristics of persuasion reasoning method.
NEW QUESTION # 44
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