1)True or False Fairness must be defined and agreed upon between parties involved a negotiation, it does not exist simply because the term fair is uttered by party to describe their offer or terms.

2) When structuring concessions, the first party offering a concession MUST:

A) Refrain from immediately offering a concession.

B) Never become angry, frustrated, or upset if the other party fails to offer a concession and does not enter into bilateral concessions.

C) Offer a concession that is meaningful but will not cause them a disadvantage.

D) Must never offer more than one concession at a time

E) All of the above.

F) Only A, C, and D

3) If a negotiator is of the fixed-pie mindset and wants to win a negotiation, they might do which of the following?

A) Engage in hard bargaining and/or attack the other party.

B) Compromise to reach a mid-point and perceive any gains as a partial win.

C) Reach a stalemate, if too strong willed.

D) None of the above.

E) All of the above.

4) What is a sellers reference point?

A) The lowest possible point at which the Seller perceives and will agree to sell the item.

B) The fair market value price for the item being sold.

C) The price at which the Seller will first offer to sell the item.

D) The greatest gain the Seller can make on the item.

5) What is the term used to describe the overlap between both parties reservation points?

A) Bargaining Surplus

B) Negotiators Surplus

C) Buyers Surplus

D) Reference Point

E) None of the above.