CGFM EXAM 3 ACTUAL SCRIPT WITH
100 PERCENT CORRECT ANSWERS
◉ Scrap the property
Answer: The easiest method of disposing of property is to
◉ With an invitation to bid, a contract is awarded primarily based
on price
Answer: The major difference between seeing vendor competition
through an invitation to bid and a request for proposal is that
◉ Requirements definition
Answer: Which step in the financial system development process
details what the new financial system must do?
◉ The disposal of grant-funded property may be stipulated in the
grant and require grantees to return property to the grantor.
Answer:
◉ Business process re-engineering
Answer:
◉ The company must request permission to conduct a sole source
procurement
, Answer: A company has been awarded a grant to build a school in
a politically-unstable foreign country. Because of the political
situation, only one contractor is willing to construct the school.
What procurement procedure will allow the company to use the
contractor without violating the requirement of full and open
competition?
◉ Requirements make determining an established price difficult
without extensive contingenices
Answer: Cost reimbursement contracts should be limited to
situations in which the
◉ Yield increases as liquidity decreases
Answer: What is the relationship among risk, liquidity, and yield
when selecting investment instruments?
◉ Safeguarding inventory
Answer: Limiting inventory access to authorized personnel,
securing warehouses, tagging, GPS tracking and radio frequency
identification are all elements of
◉ Date authorized in the payment transmission, which, at a
minimum, is the next business day
Answer: Payments made through the federal automated clearing
house settle on the
100 PERCENT CORRECT ANSWERS
◉ Scrap the property
Answer: The easiest method of disposing of property is to
◉ With an invitation to bid, a contract is awarded primarily based
on price
Answer: The major difference between seeing vendor competition
through an invitation to bid and a request for proposal is that
◉ Requirements definition
Answer: Which step in the financial system development process
details what the new financial system must do?
◉ The disposal of grant-funded property may be stipulated in the
grant and require grantees to return property to the grantor.
Answer:
◉ Business process re-engineering
Answer:
◉ The company must request permission to conduct a sole source
procurement
, Answer: A company has been awarded a grant to build a school in
a politically-unstable foreign country. Because of the political
situation, only one contractor is willing to construct the school.
What procurement procedure will allow the company to use the
contractor without violating the requirement of full and open
competition?
◉ Requirements make determining an established price difficult
without extensive contingenices
Answer: Cost reimbursement contracts should be limited to
situations in which the
◉ Yield increases as liquidity decreases
Answer: What is the relationship among risk, liquidity, and yield
when selecting investment instruments?
◉ Safeguarding inventory
Answer: Limiting inventory access to authorized personnel,
securing warehouses, tagging, GPS tracking and radio frequency
identification are all elements of
◉ Date authorized in the payment transmission, which, at a
minimum, is the next business day
Answer: Payments made through the federal automated clearing
house settle on the
