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Exam (elaborations)

NIGP PROCUREMENT TERMS SET 2 QUESTIONS WITH COMPLETE ANSWERS

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NIGP PROCUREMENT TERMS SET 2 QUESTIONS WITH COMPLETE ANSWERS












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Uploaded on
April 14, 2025
Number of pages
631
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

Subjects

  • nigp

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1 of 2000

Definition



Any county, city, town, school district, special authority, or any other
subdivision of the state, or public agency of any such subdivision, or
educational, health, or other institution spending public funds for the
procurement of services, supplies, or construction.



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, Bidders Conference Federal Trade Commission (FTC)




Local Public Procurement Unit Final Cost Objective


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2 of 2000

Definition



An agent or broker who buys or sells goods for others in return for a
commission.



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Command Economy Common Law




Comptroller Commission Merchant


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3 of 2000

Definition


A competitive negotiation process that is used when the procurement
authority deems it is in their best interest to negotiate with proposers
to achieve "best value." A form of source selection that is similar to the

,Request for Proposals process. A short list of acceptable proposers is
created. Two negotiation methods are allowed: Single negotiation and
concurrent negotiation.



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Fixed-Price Contract with Escalator
Quotation
(Economic Adjustment Clause)




Invitation to Negotiate (ITN) Privatization


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4 of 2000

Definition



The gain received from voluntary exchange. (Schiller, 2000)



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Benefit Lock-out




Country of Origin Balance of Trade


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, 5 of 2000

Definition



Borrowed money obtained from loans of various types generally used
to capitalize a business and allow it to meet operating expenses.
(Business, 2002)



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Price Index Debt Capital




Motivation Declared Value


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6 of 2000

Definition



Ownership by more than one party, each with equal rights in the item
owned. Frequently applied to the ownership of property or other
assets. (Business, 2002)



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Sarbanes-Oxley Act Cancellation Request

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