Domain 1 Procurement Administration; Domain II Sourcing|;Prep D.N.;DOMAIN V| ;Intro to Public Procurement| ;DOMAIN III ;Domain VI - Strategic Procurement Planning;Practice Test, Domain I. Procurement Administration;Prep Course - Practice Test
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Cost Plus Percentage of Cost Contracts - ANSWER-An agreement on a construction project in which the contractor is provided a specified percentage profit over and above the actual costs of construction. These contracts are considered poor business practice because the contractor has little incentive ...
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Add to cartCost Plus Percentage of Cost Contracts - ANSWER-An agreement on a construction project in which the contractor is provided a specified percentage profit over and above the actual costs of construction. These contracts are considered poor business practice because the contractor has little incentive ...
Procurement Technology - ANSWER-Helps accelerate business improvements Results Oriented Budgeting - ANSWER-Attempts to link a resource allocation to performance criteria Budget Cycle - ANSWER-1. Planning 2. Formalization 3. implementation 4. evaluation Procurement Cards - ANSWER-payment met...
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Add to cartProcurement Technology - ANSWER-Helps accelerate business improvements Results Oriented Budgeting - ANSWER-Attempts to link a resource allocation to performance criteria Budget Cycle - ANSWER-1. Planning 2. Formalization 3. implementation 4. evaluation Procurement Cards - ANSWER-payment met...
An entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - ANSWER-sta...
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Add to cartAn entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - ANSWER-sta...
FIXED-PRICE WITH ESCALATION/DE-ESCALATION - ANSWER-The purchasing officer of the governmental agency has expressed serious concerns about the number of repetitive requisitions, solicitations and POs that are being processed to purchase gasoline for the organization. Every time a new order is placed,...
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Add to cartFIXED-PRICE WITH ESCALATION/DE-ESCALATION - ANSWER-The purchasing officer of the governmental agency has expressed serious concerns about the number of repetitive requisitions, solicitations and POs that are being processed to purchase gasoline for the organization. Every time a new order is placed,...
Fixed-Price Escalation/De-escalation - ANSWER-The procurement officer of the governmental agency has expressed serious concerns about the number of repetitive requisitions, solicitations and purchase orders that are being processed to purchase gasoline for the organization. Every time a new order is...
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Add to cartFixed-Price Escalation/De-escalation - ANSWER-The procurement officer of the governmental agency has expressed serious concerns about the number of repetitive requisitions, solicitations and purchase orders that are being processed to purchase gasoline for the organization. Every time a new order is...
Express the organization's purpose for existence - ANSWER-An organization's mission statement should: Legal and statutory requirements - ANSWER-An agency is revising its document retention schedule. To what should the governmental entity look for guidance? Cooperative Contract - ANSWER-An ag...
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Add to cartExpress the organization's purpose for existence - ANSWER-An organization's mission statement should: Legal and statutory requirements - ANSWER-An agency is revising its document retention schedule. To what should the governmental entity look for guidance? Cooperative Contract - ANSWER-An ag...
budgeting - ANSWER-the allocation of scarce resources among competing demands allotment - ANSWER-controls the rate of spending authorized by an appropriation allocation - ANSWER-controls specific use of the monies appropriated cash basis accounting - ANSWER-income is not counted until cash ...
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Add to cartbudgeting - ANSWER-the allocation of scarce resources among competing demands allotment - ANSWER-controls the rate of spending authorized by an appropriation allocation - ANSWER-controls specific use of the monies appropriated cash basis accounting - ANSWER-income is not counted until cash ...
What does the procurement policy of an entity reflects? - ANSWER--The entity's legal system -The goals and values of the entity -Policies and practices federal-level entities use to acquire goods and services; this may not apply to state or local entities What should the overall purpose of a ...
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Add to cartWhat does the procurement policy of an entity reflects? - ANSWER--The entity's legal system -The goals and values of the entity -Policies and practices federal-level entities use to acquire goods and services; this may not apply to state or local entities What should the overall purpose of a ...
An entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - ANSWER-sta...
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Add to cartAn entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? A. creation of performance specifications B. sole sourcing C. benchmarking D. standardization - ANSWER-sta...
Surety - ANSWER-A pledge or guarantee by an insurance company, bank, individual, or corporation on behalf of the bidder/proposer to satisfy the contractual obligations. accountability - ANSWER-the principle that employees who accept an assignment and the authority to carry it out are answerable t...
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Add to cartSurety - ANSWER-A pledge or guarantee by an insurance company, bank, individual, or corporation on behalf of the bidder/proposer to satisfy the contractual obligations. accountability - ANSWER-the principle that employees who accept an assignment and the authority to carry it out are answerable t...
An entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? - ANSWER-Standardization A buyer has been invited to join a supplier account representative for lunch t...
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Add to cartAn entity purchases several different types of mobile phones to meet employees' preferences. This is causing inefficiencies. What action can be taken to address and correct the inefficiencies? - ANSWER-Standardization A buyer has been invited to join a supplier account representative for lunch t...
SWOT analysis - ANSWER-a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats Pareto Principle - ANSWER-80% of purchasing cost is created by 20% of the purchase orders issued spend analysis - ANSWER-process of collecting, cleansing, classifying and...
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Add to cartSWOT analysis - ANSWER-a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats Pareto Principle - ANSWER-80% of purchasing cost is created by 20% of the purchase orders issued spend analysis - ANSWER-process of collecting, cleansing, classifying and...
WHAT IS THE GOAL OF NEGOTIATION? - ANSWER-To achieve a mutual goal referred as win-win agreement. STAGES OF NEGOTIATION - ANSWER-1. Planning 2. Actual Negotiation 3. Completion What are the objectives of a principled Negotiation? - ANSWER-1. produced a wise agreement 2. To be efficient 3....
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Add to cartWHAT IS THE GOAL OF NEGOTIATION? - ANSWER-To achieve a mutual goal referred as win-win agreement. STAGES OF NEGOTIATION - ANSWER-1. Planning 2. Actual Negotiation 3. Completion What are the objectives of a principled Negotiation? - ANSWER-1. produced a wise agreement 2. To be efficient 3....
Public procurement is.... - ANSWER-The designated legal authority to advise, plan, obtain, deliver, and evaluate a government's expenditures on goods and services that are used to fulfill stated objectives, obligations, and activities in pursuit of desired policy outcomes. Materials Management.....
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Add to cartPublic procurement is.... - ANSWER-The designated legal authority to advise, plan, obtain, deliver, and evaluate a government's expenditures on goods and services that are used to fulfill stated objectives, obligations, and activities in pursuit of desired policy outcomes. Materials Management.....
Fixed-Price Escalation/De-escalation - ANSWER-The procurement officer of the governmental agency has expressed serious concerns about the number of repetitive requisitions, solicitations and purchase orders that are being processed to purchase gasoline for the organization. Every time a new order is...
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Add to cartFixed-Price Escalation/De-escalation - ANSWER-The procurement officer of the governmental agency has expressed serious concerns about the number of repetitive requisitions, solicitations and purchase orders that are being processed to purchase gasoline for the organization. Every time a new order is...
LAST-IN FIRST OUT (LIFO) - ANSWER-Utilized in Private Sector. Due to taxes, it is beneficial to use the latest received item JUST-IN-TIME (JIT) INVENTORY - ANSWER-Inventory system in which companies manufacture or purchase goods just in time for use. Technique focused on the inventory reduction ...
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Add to cartLAST-IN FIRST OUT (LIFO) - ANSWER-Utilized in Private Sector. Due to taxes, it is beneficial to use the latest received item JUST-IN-TIME (JIT) INVENTORY - ANSWER-Inventory system in which companies manufacture or purchase goods just in time for use. Technique focused on the inventory reduction ...
C. Start a file that documents the conflicts - ANSWER-If considering contract termination, the agency should first: A. Take punitive action against the contractor. B. Stop accepting delivered products or services offered by the contractor. C. Start a file that documents the conflicts. D. Notif...
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Add to cartC. Start a file that documents the conflicts - ANSWER-If considering contract termination, the agency should first: A. Take punitive action against the contractor. B. Stop accepting delivered products or services offered by the contractor. C. Start a file that documents the conflicts. D. Notif...
Scope of Work - ANSWER-Typically developed by procurement to be included in the solicitation to procure services or other more complex combinations of products and services. Sometimes called "Performance Specification" PWS - ANSWER-Performance Work Statement SOO - ANSWER-Statement of Objecti...
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Add to cartScope of Work - ANSWER-Typically developed by procurement to be included in the solicitation to procure services or other more complex combinations of products and services. Sometimes called "Performance Specification" PWS - ANSWER-Performance Work Statement SOO - ANSWER-Statement of Objecti...
Good performance measures need to be meaningful for all participants including: - ANSWER-Procurement professionals, clients and suppliers Good performance measures need to be stated in terms of the higher-level objectives of the central procurement office or else they will lose: - ANSWER-their im...
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Add to cartGood performance measures need to be meaningful for all participants including: - ANSWER-Procurement professionals, clients and suppliers Good performance measures need to be stated in terms of the higher-level objectives of the central procurement office or else they will lose: - ANSWER-their im...
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