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CIPS L4M5 Exam Syllabus Topics:

Topic	Details
Topic 1	Macroeconomics and its influence on commercial negotiations Contrast the economic factors that impact on commercial negotiations
Topic 2	Identify the different types of relationships that impact on commercial negotiations Pragmatic and principled styles of negotiation
Topic 3	Differentiate between the types of approaches that can be pursued in commercial negotiations Distributive win-lose, distributive approaches to negotiation
Topic 4	Costing methods such as absorption, marginal or variable and activity based costing Know how to prepare for negotiations with external organisations
Topic 5	Setting targets and creating a best alternative to a negotiated agreement (BATNA) Collaborative win-win integrative approaches to negotiations
Topic 6	How purchasers can improve leverage with suppliers The importance of power in commercial negotiations
Topic 7	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

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CIPS Commercial Negotiation Sample Questions (Q71-Q76):

NEW QUESTION # 71
A procurement manager is preparing fora negotiation with an important supplier. He plans to withhold some crucial information so that his company gains the upper hand in the negotiation. Is this correct when considering using integrative approach to the negotiation?

• A. Yes, the supplier must know what buyer wants and how to provide that even when the buyer is silent on these matters
• B. No,holding back information will prompt the supplier gain higher negotiation power
• C. Yes, the buying organisation must maximise its gain, even at the detriment of the other party
• D. No, this approach requires honest and open discussion

Answer: D Explanation:
Integrative negotiation is a negotiation strategy in which the involved parties work together to find a solution that satisfies the needs and concernsof each. This process often involves group brainstorming and creative thinking for individuals to suggest different ideas that benefit both parties.
Compromising is often common in integrative negotiation, and both sides may need to give up certain needs to reach a solution. Honesty can also promote successful integrative negotiation because it can lead to a comprehensive understanding of the issue and what each party needs to be satisfied with the result.
NEW QUESTION # 72
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. 1 and 4 only
• B. 2 and 4 only
• C. 2 and 3 only
• D. 3 and 4 only

Answer: B 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 isstronger 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 # 73
Which of the following are most likely to be characteristics of a perfectly competitive market? Select TWO that apply

• A. Firms can freely enter or exit the market
• B. In a perfectly competitive market, each seller has a large impact on the market price A perfectly competitive market consists of products that are all slightly different from one another
• C. There are many buyers and sellers in the market
• D. In a competitive market, both buyers and sellers areprice givers

Answer: A,C Explanation:
Explanation
A perfectly competitive market is one with the following features:
- There are many firms producing identical or very similar (homogeneous) goods or services
- There are no barriers toentry to the market or exit from the market - anyone can enter or leave easily
- Both producers and customers have perfect knowledge of the market place, prices, costs of production and influences on demand and supply Under these conditions, the price andquantity will always tend toward equilibrium as any producer that sets a price above equilibrium will not sell anything at all, and any producer that sets a price below a equilibrium will obtain 100% market share in theory. The demand curve is perfectly elastic, which means that it will be horizontal. In a perfectly competitive market, it is difficult to increase profits through pricing, and suppliers instead must focus on their cost structure. As these conditions imply, there are few if any examples of perfectly competitive market.
LO 2, AC 2.2
NEW QUESTION # 74
Which of the following are macroeconomic factors that may have influence to the commercial negotiation?
Select TWO that apply

• A. Bargaining power of supplier
• B. Supply curve
• C. Equilibrium price
• D. Unemployment rate
• E. Rising import tariffs

Answer: D,E Explanation:
Explanation
There are many macro economic factors that could influence procurement in general andcommercial negotiation in particular. Below are six factors that are agreed to be fairly significant:
* Economy growth rate
* Inflation rates
* Interest rates
* Currency exchange rate
* Unemployment rate
* Protectionism
LO 2, AC 2.2
NEW QUESTION # 75
There are no commitments in hypothetical questions. Is this statement true?

• A. Yes, because hypothetical questions generate a specific response
• B. No, because the party who makes hypothetical questions cannot withdraw their proposals
• C. Yes, because hypothetical questions only mention possible situations
• D. No, because hypothetical questions are made explicitly to the other party

Answer: C Explanation:
Explanation
There are four types of questions that can be used in a commercial negotiation:
Hypothetical questions, where you ask about a possible situation or abstract concept, are very useful at the testing and proposal phases. Hypothetical question does not state any commitment as it is only about 'if something happens, then ...'. This type of question can be useful at giving suggestion.
Text Description automatically generated

LO 3, AC 3.3
NEW QUESTION # 76
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