Use this as a starting point to create your own questions,
and to help determine what areas are important to you.
The list helps to focus you on the main points, and to avoid
the instance of unprepared spontaneous acceptance, (the
ones you regret as soon as you get off the phone).
Not all of the questions will apply to every job.
(the questions in bold are the areas where I choose to focus in
my own career.)

questions for the client
1.  What is the nature of the job?
2.  What is the deadline?
3.  What is your budget? (try to insist that they speak first)
4.  Where will the job be run?
5.  How many times?
6.  Am I being offered at least 15% of the insertion rate for the ad?
7.  Can I charge expenses?
8.  Will you sign a letter of agreement regarding the above?
      "May I call you back in a moment after I've thought this over?"
   or "Oops, I have another call, May I call you back?"

questions for yourself
1.  Will I enjoy doing the job?
2.  Will I have to compromise another job by accepting this?
3.  Would I rather have time to myself than to do this job?
4.  Do I need the money?
5.  Is the money a compromise?
6.  If I accept low money will I resent the job while doing it?
7.  Have I asked for more money in the past for a comparable job?
8.  Am I accepting the client's price because it's a take it or leave it proposition?
9.  Do I owe it to myself to ask for more?
10. Is the client likely to pay me without hassle?
11. Does the client seem knowledgeable about buying art?
12. Is the client's ignorance likely to hinder a smooth working relationship?
13. Is the client promising me my name in lights in lieu of initial money?

*2 yes indicate a negative situation

this list was adapted from one written by Leslie Cabargo.  It was distributed by one of
my favourite teachers in art school.  The copy I have is full of pin holes, folds, and tape marks.