CPFO QUESTION BANK 2026 PUBLIC
SECTOR ACCOUNTING REVIEW UPDATED
A+
◉ What is effectiveness as a measurement?
Answer: Desired quality and available for use when needed.
◉ What is efficiency as a measurement?
Answer: The ability to buy goods/services at the least cost.
◉ List 1-5 objective performance measures of the Procurement
function.
Answer: 1 avg length of time to complete a solicitation; 2 avg # of
bidders for each type of solicitation; 3 ratio of bid protests to
solicitations issued; 4 % of protests sustained; 5 # and type of
vendor complaints
◉ List 6-11 objective performance measures of the Procurement
function.
Answer: 6 % of employees receiving training; 7 % of contract
monitoring reports filed on time; 8 % of early payment discounts
taken; 9 penalties for failure to meet prompt pymt requirements; 10
avg # of solicitation amendments; 11 avg # of change orders
, ◉ Generally speaking, what effect would we expect to see when
there are a higher number of bids?
Answer: Lower purchase cost is expected.
◉ Does a negotiated process mean lack of competition?
Answer: No, it means it's not possible to describe what is to be
bought with sufficient precision so the vendors can determine,
without discussion, how much to charge.
◉ When should a government issue an RFP?
Answer: When it's not practical to buy based on price alone.
◉ What is the preferred method of announcing a government's
desire to purchase?
Answer: Invitations for bid via competitive sealed bidding.
◉ What is the term used for the process of announcing and
describing the government's desire to receive bids or offers from
organizations willing to sell an item or service to it?
Answer: Solicitation
◉ What's required for sole source award, since it reduces
competition?
SECTOR ACCOUNTING REVIEW UPDATED
A+
◉ What is effectiveness as a measurement?
Answer: Desired quality and available for use when needed.
◉ What is efficiency as a measurement?
Answer: The ability to buy goods/services at the least cost.
◉ List 1-5 objective performance measures of the Procurement
function.
Answer: 1 avg length of time to complete a solicitation; 2 avg # of
bidders for each type of solicitation; 3 ratio of bid protests to
solicitations issued; 4 % of protests sustained; 5 # and type of
vendor complaints
◉ List 6-11 objective performance measures of the Procurement
function.
Answer: 6 % of employees receiving training; 7 % of contract
monitoring reports filed on time; 8 % of early payment discounts
taken; 9 penalties for failure to meet prompt pymt requirements; 10
avg # of solicitation amendments; 11 avg # of change orders
, ◉ Generally speaking, what effect would we expect to see when
there are a higher number of bids?
Answer: Lower purchase cost is expected.
◉ Does a negotiated process mean lack of competition?
Answer: No, it means it's not possible to describe what is to be
bought with sufficient precision so the vendors can determine,
without discussion, how much to charge.
◉ When should a government issue an RFP?
Answer: When it's not practical to buy based on price alone.
◉ What is the preferred method of announcing a government's
desire to purchase?
Answer: Invitations for bid via competitive sealed bidding.
◉ What is the term used for the process of announcing and
describing the government's desire to receive bids or offers from
organizations willing to sell an item or service to it?
Answer: Solicitation
◉ What's required for sole source award, since it reduces
competition?
