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Quiz: Negotiating -- Do you speak business?

Find out how much you know about the language of negotiation.

1. This is a "you scratch my back and I'll scratch yours" approach to negotiation. What is it?
Answer

2. What is a Boulwarism?
a. a deal that takes forever to close
b. a non-negotiable offer
c. a conditional agreement
Answer

3. This is the negotiation of two or more products or services in a single package with one price. What is it?
Answer

4. This describes a critical point in a negotiation that causes a deal to fall through. It is the proverbial "straw that broke the camel's back." What is it?
Answer

5. What do you call an offer that is immediately accepted by the other party?
a. winner's curse
b. consensus gentium
c. smooth transaction
Answer

6. You just finished negotiating a deal for new printers when the salesperson "reminds" you that the agreed-upon purchase price does not include shipping. You thought that shipping was included in the price and seem to recall telling the salesperson that your company's policy is never to pay shipping as a separate cost. What should you do?
a. Accept that negotiations have been re-opened. Deal with it.
b.Walk away from the deal. They're trying to take advantage -- and if they do it once, they'll do it again.
Answer

7. True or false: When dealing with a vendor, think of him as your partner. The more information you can give him, the more he can help you.
Answer

8. When all is said and done, you didn't get everything that you wanted, but neither did the other side. Did you win?
Answer

9. True or false: Brilliant negotiators are patient. Sometimes all you have to do is wait till the other side gives in.
Answer

10. True or false: Always have a partner when negotiating -- it's not a good idea to go it alone.
Answer

This was last updated in August 2009
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