CTCD Test Friday Questions With Complete Solutions

the procurement cycle correct answer: 1. procurement planning 2. procurement method determination 3. vendor solicitation 4. contract formation and award 5. contract management Fundamentals of procurement correct answer: 1. fairness/transparency 2. best value for the state 3. own the mission 4. good steward of public records Texas Comptroller of Public Accounts correct answer: State tax collector, treasurer, accountant, develops and manages statewide contracts purchasing correct answer: The receipt and processing of requisitions, development of specifications, statement of work, the issuance of purchase orders against statewide, cooperative or agency contracts, and the verification of the inspection of merchandise or receipt of services by the agency contract development correct answer: applies to actions taken prior to contract execution contract management correct answer: applies to action taken following contract execution contract valueSPD correct answer: the initial value of the contract, including anticipated extensions and renewals for the contracts full existence a contract value with an initial value of $4 million, with 3 optional, annual renewals of the same amount. What is the contract value? correct answer: $16,000,000 a contract with an initial value of $200,000 with two optional, annual renewals of the same amount. What is the contract value? correct answer: $600,000 SPD correct answer: delegates purchasing authority to state agencies for non-IT goods and services purchasing authority correct answer: the ability of an agency to purchase goods and services using state funds delegation of purchasing authority correct answer: assigning purchasing authority to an agency statewide procurement division correct answer: 1. contract development 2. contract management 3. statewide fleet, travel, & mail 4. HUB 5. procurement policy & outreach statewide contract development team correct answer: develops term, managed, and TXMAS contracts historically underutilized business program correct answer: promotes full and equal business opportunities subcontracting opportunity for any procurement with an estimated contract value of $100,000 or greater procurement oversight and delegation (POD) correct answer: conducts solicitation reviews and delegates p