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CIPS Commercial Negotiation Sample Questions (Q369-Q374):

NEW QUESTION # 369
Which of the following is a source of information on microeconomic factors?

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

Answer: D

Explanation:
Microeconomic factors concern the conditions specific to suppliers, buyers, and markets - such as supplier communications, annual reports, and industry-specific data. These provide insight into cost structures, capacity, and competitive positioning. Macroeconomic factors, by contrast, include inflation indices (RPI), financial market trends, or global commodity prices. Distinguishing between micro and macro sources allows negotiators to build more precise intelligence for supplier discussions.
Reference: CIPS L4M5 (2nd ed.), LO 1.2 - Micro vs macroeconomic factors in negotiation preparation.

NEW QUESTION # 370
In general, which of the following is the consequence of a flatter demand curve?

A. Price inelastic
B. Quantity elastic
C. Unit price elastic
D. Price elastic

Answer: D

Explanation:
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor.
In microeconomic graphs, elasticity and inelasticity can be shown by the slope of the demand curve. If a demand curve is almost horizontal, then the product pricing can be described as very elastic. If a demand curve is almost vertical, then the product pricing can be described as very inelastic.
The formulae of elasticity:
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LO 2, AC 2.2

NEW QUESTION # 371
Professional buyer is planning for the next negotiation of a simple one-off contract. This negotiation is typified by which of the following? Select TWO that apply.

A. Pricing is the most important criterion
B. Continuous dialogue with supplier
C. Total cost of ownership is the most important criterion
D. Vendor ratings will be used
E. Arm's-length approach

Answer: A,E

Explanation:
Professional buyers, when planning or engaging in negotiation with suppliers, should always be aware of where the intended and actual relationship with this supplier is positioned on the 'spectrum' or 'continuum' of commercial relationships. The relationship spectrum describes the range of commercial relationships between a buyer and supplier based on richness of communication, longevity and mutual dependence.
Timeline Description automatically generated

In the question, the contract is simple one-off (or spot buy), which means the relationship will likely to be more transactional. In such relationship, price is the most important criteria and buyer may adopt arm's-length approach.

NEW QUESTION # 372
Different types of relationships impact on commercial negotiations. At a negotiation, which one of the following sources would help to support leverage for the buyer?

A. Legitimate power
B. Personality power
C. Powerful colleagues
D. Friends power

Answer: A

NEW QUESTION # 373
In addition to organisational power, personal power of each negotiator can influence the outcomes of a negotiation. A good negotiator can leverage different sources of power. Is this statement true?

A. No, because only organisational power can be leveraged during a negotiation
B. Yes, because all sources of power have similar effectiveness in every situation
C. No, because each person has only one superior source of personal power
D. Yes, because the good negotiator recognises his own power in a negotiation

Answer: D

Explanation:
Both organisational and personal power have the ability to influence the outcomes of negotiation. Good negotiators recognises the different sources of relative personal power they possess in a negotiation. There is no one superior source of personal power; they will vary in their effectiveness based on the situation. The more personal sources available the better, even if some not used, these can be used as a fallback.
LO 1, AC 1.3

NEW QUESTION # 374
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Reliable L4M5 Braindumps Pdf, Valid L4M5 Study Guide

Valid L4M5 Study Guide, Reliable L4M5 Exam Papers

CIPS Commercial Negotiation Sample Questions (Q369-Q374):

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