CTCM prep exam aug 2024
,Define Contract Value - ANSWER-The initial value of the
contract, plus any amendments, renewals, and
extensions for the contract's full existence.
What is the contract value for a contract with an initial
value of $2 million, with 3 optional annual renewals of
the same amount? - ANSWER-$8 million
What is the contract value for a contract with an initial
value of $500,000, with 2 optional annual renewals of the
same amount? - ANSWER-$1.5 million
What does SPD do? - ANSWER-It is the entity that
delegates purchasing authority to state agencies for non-
IT goods and services.
Does SPD give purchasing authority for IT goods and
services? - ANSWER-No
, What does the Office of Vehicle & Fleet Management do?
- ANSWER-Assists state agencies in managing their
vehicle fleet.
What does the Statewide Mail Operations program do? -
ANSWER-Processes approximately 14-17K pieces of mail
daily.
What does HUB stand for? - ANSWER-Historically
Underutilized Business Program
When are HUB businesses considered for subcontracting?
- ANSWER-Subcontracting opportunity for any
procurement with an estimated contract value of
$100,000 or greater.
What does POD stand for? - ANSWER-Procurement
Oversight and Delegation Portal
What does the Procurement Oversight and Delegation
Portal (POD) do? - ANSWER-Conducts solicitation reviews
,Define Contract Value - ANSWER-The initial value of the
contract, plus any amendments, renewals, and
extensions for the contract's full existence.
What is the contract value for a contract with an initial
value of $2 million, with 3 optional annual renewals of
the same amount? - ANSWER-$8 million
What is the contract value for a contract with an initial
value of $500,000, with 2 optional annual renewals of the
same amount? - ANSWER-$1.5 million
What does SPD do? - ANSWER-It is the entity that
delegates purchasing authority to state agencies for non-
IT goods and services.
Does SPD give purchasing authority for IT goods and
services? - ANSWER-No
, What does the Office of Vehicle & Fleet Management do?
- ANSWER-Assists state agencies in managing their
vehicle fleet.
What does the Statewide Mail Operations program do? -
ANSWER-Processes approximately 14-17K pieces of mail
daily.
What does HUB stand for? - ANSWER-Historically
Underutilized Business Program
When are HUB businesses considered for subcontracting?
- ANSWER-Subcontracting opportunity for any
procurement with an estimated contract value of
$100,000 or greater.
What does POD stand for? - ANSWER-Procurement
Oversight and Delegation Portal
What does the Procurement Oversight and Delegation
Portal (POD) do? - ANSWER-Conducts solicitation reviews
