Successful Negotiation: Essential Strategies and Skills Quiz Answers

Get Successful Negotiation: Essential Strategies and Skills Quiz Answers

Successful Negotiation: Essential Strategies and Skills Week 01 Quiz Answers

Quiz : Show What You Know

Q1. Position-based negotiators focus on finding what the other side wants, not why they want it.

• True
• False

Q2. Dispute resolution negotiations tend to be position-based.

• True
• False

Q3. The three key ADR processes are arbitration, mediation and avoidance.

• True
• False

Q4. Litigation and arbitration are examples of rights-oriented processes.

• True
• False

Q5. In a cross-cultural negotiation, “deep culture” refers to the negotiators’ values and beliefs.

• True
• False

Q6. If you are a seller, your stretch goal is the minimum price you will accept from the buyer.

• True
• False

Q7. The Zone of Potential Agreement is the zone between the stretch goals of the negotiators.

• True
• False

Q8. Under the “American Rule,” the loser in a trial pays the winner’s attorney fees.

• True
• False

Q9. When you are selling your car to a stranger, you do not owe a fiduciary duty during negotiations.

• True
• False

Q10. When a principal authorizes an agent to negotiate a contract, the agent has apparent authority.

• True
• False

Successful Negotiation: Essential Strategies and Skills Week 02 Quiz Answers

Quiz : Show What You Know

Q1. In some situations, you should disclose your BATNA to the other side during a negotiation.

• True
• False

Q2. Because of anchoring, you should never make the first offer in a negotiation.

• True
• False

Q3. Because of anchoring, you should always make the first offer in a negotiation.

• True
• False

Q4. Overconfidence is a problem when making decisions, as opposed to implementing decisions.

• True
• False

Q5. People tend to be risk averse when faced with positive choices.

• True
• False

Q6. Reciprocity is a useful tool to overcome problems that arise from relying on easily-available information.

• True
• False

Q7. Great negotiators tend to focus on their own perspectives during a negotiation as a way to dominate the other side.

• True
• False

Q8. The mythical fixed pie assumption is based on a belief that your interests during a negotiation directly conflict with the interests of the other side.

• True
• False

Q9. Reactive devaluation refers to currency devaluation that affects the price that you will offer during a negotiation.

• True
• False

Q10. One useful power strategy during a negotiation is to try to weaken the BATNA of the other side.

• True
• False

Successful Negotiation: Essential Strategies and Skills Week 03 Quiz Answers

Quiz : Show What You Know

Q1. Traditionally, contracts tended to be shorter in civil law countries.

• True
• False

Q2. Consideration in contracts is a common law requirement.

• True
• False

Q3. The UN Convention on Contracts for the International Sale of Goods covers sale of real estate.

• True
• False

Q4. Two people can enter into an agreement in writing that is not legally enforceable.

• True
• False

Q5. You offer to sell your car to Chris for 2000, with payment to be made on 23 February. Chris accepts your offer but changes the date to 26 February. You have a contract.

• True
• False

Q6. The Parol Evidence Rule requires that certain contracts must be in writing.

• True
• False

Q7. Lean contracting is limited to contracts for the lean production of products

• True
• False

Q8. To be legally binding, a contract must be in writing, but a formal document is not necessary.

• True
• False

Q9. You want your employees to sign non-compete agreements. These agreements are not legally enforceable everywhere.

• True
• False

Q10. The common law system relies heavily on case precedent.

• True
• False

Successful Negotiation: Essential Strategies and Skills Week 04 Quiz Answers

Quiz : Show What You Know

Q1. The mini-trial is an example of mediation.

• True
• False

Q2. Screens are used to select one of these two binding dispute resolution processes: arbitration and mediation.

• True
• False

Q3. The Corporate Pledge is an example of an ADR contract clause.

• True
• False

Q4. You can agree with the other side to use a dispute resolution procedure after a dispute arises.

• True
• False

Q5. ADR contract clauses can include more than one dispute resolution process.

• True
• False

Q6. Arbitration decisions are generally not subject to review in the court system.

• True
• False

Q7. With transformative mediation, the mediator is authorized to decide the case.

• True
• False

Q8. One difference between arbitration and negotiation is that arbitrators often use caucuses.

• True
• False

Q9. Preventive law focuses on trying to predict court decisions.

• True
• False

Q10. Arbitrators do not have to be lawyers.

• True
• False

Successful Negotiation: Essential Strategies and Skills Week 05 Quiz Answers

Quiz : Final Exam

Q1. Brijesh is negotiating with Sara, who wants to purchase his car. The only issue is price. This is an example of a (select one):

• position-based negotiation.
• interest-based negotiation.
• dispute-resolution negotiation.
• all of the above
• two of the above
• none of the above

Q2. In the “House on Elm Street” negotiation, Pat could pay no more than 250,000 for the house. This is Pat’s (select one)

• stretch goal.
• most-likely price.
• reservation price.
• BATNA.
• ZOPA.
• none of the above.

Q3. Jing and Tim have parking spaces next to each other at the apartment complex where they live. Tim claims that Jing dented his car when she was driving out of her space. They are negotiating with each other, trying to resolve this dispute. This type of negotiation tends to (select one):

• be adversarial.
• look to the past.
• be interest-based.
• all of the above.
• two of the above.
• none of the above.

Q4. Boris is involved in a business dispute with his partner Kaylee. Someone has suggested that they should use a third party process to resolve the dispute. The following are examples of third party processes (select one):

• arbitration
• mediation
• litigation
• all of the above
• two of the above
• none of the above

Q5. Someone else has suggested that Boris and Kaylee (#4 above) should use an ADR process. The following are examples of ADR processes (select one):

• arbitration
• mediation
• litigation
• all of the above
• two of the above
• none of the above

Q6. Tommaso owns a business and is involved in a dispute with one of his suppliers, Sharmin. Because Tommaso is certain that he is right, he wants to use a rights-oriented process to resolve the dispute. Examples of rights-oriented processes are (select one):

• arbitration
• mediation
• negotiation
• two of the above
• all of the above
• none of the above

Q7. Kelly is negotiating a complex deal with Santiago, but they are making little progress. They should consider the following processes, which have been used for deal making (select one):

• mediation
• litigation
• arbitration
• all of the above
• two of the above
• none of the above

Q8. Cai is preparing for a cross-cultural negotiation with Yosuke. In preparing for this negotiation, he wants to make sure that he understands Yosuke’s “deep culture.” This means understanding the other side’s (select one):

• values.
• beliefs.
• negotiating style.
• all of the above
• two of the above
• none of the above

Q9. Elena is negotiating the purchase of a kitchen table from her neighbor Beixi. Her goal is to acquire it for 250 and she will begin the negotiations by offering 150. If Elena cannot negotiate a price of 300 or less for the table, she will purchase a new table from a store for 400. Beixi’s goal is to sell the table for 350. She will counter Elena’s initial offer by countering with 400. If Beixi cannot get at least 275 from Elena for the table, she will sell it to her nephew for 200. (Select one):

• Elena’s stretch goal is 150 and Beiji’s stretch goal is 200.
• Elena’s stretch goal is 400 and Beiji’s stretch goal is 400.
• Elena’s stretch goal is 250 and Beiji’s stretch goal is 400.
• Elena’s stretch goal is 300 and Beixi’s stretch goal is 350.
• Elena’s stretch goal is 250 and Beixi’s stretch goal is 275.
• none of the above

Q10. Based on only the facts in #9, (select one):

• Elena’s reservation price is 400 and Beixi’s reservation price is 275.
• Elena’s reservation price is 300 and Beixi’s reservation price is 275.
• Elena’s reservation price is 400 and Beixi’s reservation price is 200.
• Elena’s reservation price is 250 and Beixi’s reservation price is 200.
• Elena’s reservation price is 150 and Beixi’s reservation price is 350.
• none of the above

Q11. Based on only the facts in #9 (select one):

• This is an interest-based negotiation.
• This is a position-based negotiation.
• This is a deal-making negotiation.
• all of the above
• two of the above
• none of the above

Q12. Based on only the facts in #9 (select one):

• Elena’s BATNA is 300 and Beixi’s BATNA is 275.
• Elena’s BATNA is 150 and Beixi’s BATNA is 400.
• Elena’s BATNA is 400 and Beixi’s BATNA is 250.
• Elena’s BATNA is 250 and Beixi’s BATNA is 350.
• Elena’s BATNA is 300 and Beixi’s BATNA is 200.
• None of the above

Q13. Based on only the facts in #9 the ZOPA ranges from (select one):

• 150 to 400.
• 250 to 350.
• 150 to 250.
• 150 to 275.
• 250 to 400.
• 275 to 300.

Q14. Clyde owns a business and needs to hire a temporary employee for one month, beginning November 16. On November 1, he sent Bonnie a written job offer that stated the November 16 start date. Bonnie accepted Clyde’s offer with a written reply on November 2 but said that she could not start until November 18. Clyde sent her a written response on November 3 stating that November 18 was fine with him. Assuming that all other details regarding employment (such as salary, hours, etc.) were spelled out in their messages, Bonnie and Clyde (select one):

• formed a contract on November 1.
• formed a contract on November 2.
• formed a contract on November 3.
• formed a contract on November 16.
• formed a contract on November 18.
• have not formed a contract.

Q15. Amanda is beginning to negotiate the sale of her car to Anuj. In deciding whether to make the first offer, the most important psychological tool that she needs to consider is (select one):

• the contrast principle.
• reactive devaluation.
• anchoring.
• reciprocity.
• whether the other side is authorized to make a deal.
• none of the above.

Q16. Jessica manufactures components for a product. She has sued one of her customers, Michael, in the United States for payment. Michael claims that the components that Jessica delivered were defective. They are now negotiating a possible settlement. Jessica is asking the court to award her 400,000 in damages and she agreed to pay her attorney a 30% contingency fee. There is a 50% chance that she will win. If they go to court, she estimates that Michael’s attorney’s fees will total 80,000. Based on a decision tree calculation, the value of Jessica’s litigation BATNA based only on these facts is (select one):

• 400,000.
• 280,000.
• 200,000.
• 140,000.
• 110,000.
• none of the above.

Q17. Same facts as #16, except that Jessica files her lawsuit outside the US in a country that uses a “loser pays” rule. Instead of hiring her attorney on a contingency fee, she agrees to pay the attorney a fixed fee of 90,000. Based on a decision tree calculation, the value of Jessica’s litigation BATNA based on these revised facts is (select one):

• 200,000.
• 155,000.
• 115,000.
• 110,000.
• 70,000
• none of the above.

Q18. Harinee is negotiating to sell her car to Sam. During negotiations, Sam asks Harinee whether the car has ever been damaged in an accident. Harinee says “absolutely not.” This is a lie. She was involved in a serious accident in which a passenger in her car was killed. After the accident she had the car completely repaired and the damage is not noticeable. Based on Harinee’s answer, Sam bought the car but later discovered the lie. Harinee has violated which of the following legal rules (select one):

• fiduciary duty
• unconscionability
• fraud
• all of the above
• two of the above
• none of the above

Q19. Mark works in sales for Company X and is paid a commission on his sales. After negotiations he enters into a contract to sell a product to a customer at a price that is much higher than what other sales people could negotiate. His boss sends Mark an email stating that she is very pleased with the deal. Despite the high price, the customer is also pleased with the deal and pays Mark a bonus. When Mark’s company later learns about the bonus the company (select one):

• can refuse to pay his commission because the unconscionability rule.
• can refuse to pay his commission because of the fraud rule.
• can refuse to pay his commission because of the fiduciary duty rule.
• can refuse to pay his commission because of the Golden Rule.
• in this situation, must pay the commission.
• none of the above

Q20. To increase your power in a negotiation you should (select one):

• always make the first offer.
• use reactive devaluation.
• rely on confirming evidence when preparing for the negotiation.
• ask the other side lots of questions
• use overconfidence when making decisions relating to the negotiation.
• none of the above

Q21. Your BATNA strategy should always include (select one):

• disclosing your BATNA.
• weakening the other side’s BATNA.
• strengthening your BATNA.
• all of the above.
• two of the above.
• none of the above.

Q22. Company A hired Nick as an agent and gave him a letter authorizing him to make purchases on behalf of the company. In a separate email, the company explained to Nick that he could only make purchases for 100,000 or less. In other words, 100,000 was the reservation price for his negotiations. Nick proceeded to negotiate a contract with a new supplier, B, in which he purchased goods for 95,000. Nick showed B the letter of authority from the company but did not mention the 100,000 limitation that the company explained in the email. Select one:

• Company A is bound by the contract because Nick had express authority.
• Company A is bound by the contract because Nick had apparent authority.
• Company A is not bound by the contract because of illegality.
• Company A is not bound by the contract because of unconscionability.
• Company A is not bound by the contract because of fraud.
• none of the above.

Q23. Same fact as #22, except that Nick agreed to pay 105,000 in the contract with B. Select one.

• Company A is bound by the contract because Nick had express authority.
• Company A is bound by the contract because Nick had apparent authority.
• Company A is not bound by the contract because of illegality.
• Company A is not bound by the contract because of unconscionability.
• Company A is not bound by the contract because of fraud.
• none of the above

Q24. The best way to avoid the fixed pie assumption is to (select one):

• devalue proposals made by the other side.
• use a large stretch goal.
• search for interests of both sides that aren’t in conflict.
• all of the above.
• two of the above.
• none of the above.

Q25. Eshan is preparing for a negotiation to sell his house to Jose. He thinks that the ZOPA range is 250 to 300 when it is really 225 to 325. This is an example of (select one):

• reactive devaluation.
• overconfidence.
• the contrast principle.
• all of the above.
• two of the above.
• none of the above.

Q26. Malavica is negotiating to purchase some equipment from Eric for her start-up business. During the negotiation she makes a concession to Eric regarding the delivery date. (The delivery date requested by Eric caused no problems for Malavica.) In gratitude for her concession, Eric agrees to extend the warranty on the equipment he is selling her for an additional time period. This is an example of (select one):

• anchoring.
• reciprocity.
• availability.
• all of the above.
• two of the above.
• none of the above.

Q27. Bailey recently moved to France and is negotiating the purchase of a house in a suburb of Paris from a French owner. She has retained her US citizenship. Her contract is governed by (select one):

• civil law.
• common law.
• the United Nations Convention on Contracts for the International Sale of Goods.
• the Uniform Commercial Code.
• all of the above.
• none of the above.

Q28. Jing is negotiating to sell her business to Pedro. They have reached agreement on most of the terms of the sale and have just signed an agreement in principle. Agreements in principle are (select one):

• always binding contracts.
• never binding contracts.
• can be binding contracts, depending on the circumstances.
• statements summarizing the ethical beliefs of the two sides.
• two of the above.
• none of the above.

Q29. Sarah signed an agreement to rent an apartment from a landlord who also signed the agreement. During the lease negotiations, the landlord agreed to provide Sarah with extra storage space in the basement of the apartment building but this promise was not included in the agreement. The landlord now tells Sarah that he will not provide the extra space. If the landlord admits making the promise, under the parol evidence rule (select one)

• he is legally required to provide the extra space because consideration is missing.
• he is legally required to provide the extra space because of his fiduciary duty to Sarah.
• he is legally required to provide the extra space because of the overconfidence trap.
• all of the above.
• two of the above.
• none of the above.

Q30. After both sides signed the lease in #29, the landlord asked Sarah if she would be willing to delay the move-in date by two days. She agreed and they amended the lease. In this situation (select one):

• there is no consideration for Sarah’s additional promise.
• there is consideration for Sarah’s additional promise because of the illegality principle.
• there is consideration for Sarah’s additional promise because of fiduciary duty requirements.
• all of the above.
• two of the above.
• none of the above.

Q31. Kathryn and Jose are involved in a business dispute that is going to arbitration. In the typical arbitration (select one):

• the arbitrator acts as a facilitator.
• the arbitrator decides who wins and who loses.
• the arbitrator attempts to bring the parties together to transform their relationship.
• all of the above.
• two of the above.
• none of the above.

Q32. In #31, Kathryn and Jose decide to try mediation instead of arbitration. They can select one of the following, which are the typical types of mediation (select one):

• faciliative.
• baseball.
• evaluative.
• all of the above.
• two of the above.
• none of the above.

Q33. In #31, assume that Kathryn and Jose are trying to decide whether to resolve their dispute either by one-on-one negotiation or by mediation. Negotiation and mediation are similar except that with mediation (select one)

• a third party is present to make a decision.
• witnesses testify under oath.
• mediators generally follow court procedure.
• all of the above.
• two of the above.
• none of the above

Q34. Jed is negotiating a business deal with Steve. They think that there might not be a ZOPA, in which case they are wasting their time. The best process for finding out whether there is a ZOPA is (select one)

• avoidance.
• arbitration.
• mediation.
• all of the above.
• two of the above.
• none of the above.

Q35. In every price negotiation, there is (select one):

• a ZOPA.
• a BATNA.
• a reservation price.
• all of the above.
• two of the above.
• none of the above.

Q36. If the losing party in an arbitration appeals the decision to the court system, the court will (select one):

• always review the decision.
• never review the decision.
• in some situations review the decision.
• incarcerate the losing party.
• usually order a new arbitration.
• two of the above.

Q37. Arbitration is very similar to litigation except that with arbitration (select one):

• you and the other side select your own third party (the arbitrator).
• the proceedings are private.
• the technical rules of litigation are not followed.
• all of the above.
• two of the above.
• none of the above.

Q38. ADR screens are used to (select one):

• decide whether to use an ADR pledge.
• decide whether to use a binding or a non-binding process when resolving a dispute.
• hide your BATNA from the other side.
• all of the above.
• two of the above.
• none of the above.

Q39. The following statement(s) is (are) correct (select one):

• You should always ask the other side to make the first offer.
• When negotiating with an agent who represents the other side, you should always ask the agent to confirm that she has authority to represent the other side.
• You should never reveal your BATNA to the other side.
• all of the above.
• two of the above.
• none of the above.

Q40. Maria is the head of human resources for a mid-size company. She is involved in a budget dispute with Max, the head of the finance department. Max wants to cut back on Maria’s budget for next year. Maria claims that she needs the current budget to meet the HR needs of the three other departments in the company (information technology, operations, and marketing). This is an ideal situation for Maria to use (select one):

• apparent authority.
• coalition building.
• reactive devaluation to devalue the proposal made by Max.
• all of the above.
• two of the above.
• none of the above.

Q41. Aashka is negotiating to sell her car to Juana. During the negotiation, Aashka tells Juana that someone else has offered to purchase the car for 5000. In fact, no one else has made an offer to purchase the car. Based on Aashka’s statement, Juana agrees to purchase the car for 5200. If Juana later learns of Aashka’s lie and decides to sue her: (select one):

• She cannot recover damages for fraud because she should expect sellers to use this type of deception.
• She can recover damages because Aashka breached her fiduciary duty.
• She can recover her attorney fees from Aashka if she litigates the case in the United States and wins.
• all of the above.
• two of the above.
• none of the above.

Q42. Peter and Michelle are recent business school graduates with very few resources. They decided to start a business as partners. Michelle was a much better negotiator than Peter (because she had taken a MOOC called “Successful Negotiation”!). She persuaded Peter to sign a partnership agreement that was extremely unfair to him. He should be able to back out of the agreement because (select one):

• Michelle committed fraud.
• the agreement is unconscionable.
• Michelle breached the anchoring rule.
• all of the above.
• two of the above.
• none of the above.

Q43. Decision trees can be used to (select one):

• calculate BATNAs in dispute-resolution negotiations.
• calculate BATNAs in deal-making negotiations.
• develop attractive landscaping in parks.
• all of the above.
• two of the above.
• none of the above.

Q44. You are a consultant. Company M has been involved in a number of disputes with its suppliers and customers. The company hires you to establish an ADR system. As part of this system you should consider encouraging the company to (select one):

• adopt an ADR pledge.
• use screens to select an appropriate dispute-resolution process.
• include ADR clauses in contracts with its suppliers and customers.
• all of the above.
• two of the above.
• none of the above.

Q45. In the “House on Elm Street” negotiation, if Tracy did not tell Pat that the basement might have a leak, this would be an example of (select one):

• unconscionability.
• breach of fiduciary duty.
• illegal use of a BATNA.
• all of the above
• two of the above
• none of the above

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