SK1 SWE
For purchases exceeding $3,000, how many quotes are acceptable? - Answer: 3 quotes
Purchases under $3,000 must be equally distributed among qualified suppliers? - Answer: True
For purchases in excess of $3,000, the _____ shall solicit quotations from a reasonable number
of qualified sources. - Answer: KO
The KO shall establish and maintain documentation of ORAL quotes to determine the best value
for the government. - Answer: True
The supplies or services with an anticipated dollar value more than $3,000, but less than
$150,000 ($100,000 - SAP isn't updated yet) are reserved exclusively for? - Answer: Small
Business (SAP 3-1)
Simplified Acquisition Procedures are divided into how many categories? - Answer: 2, micro-
purchase & simplified Acquisitions
The form used to purchase supplies if the cost is less than or equal to $3,000? - Answer: OF-347
The use of the SF-1449 is to? - Answer: Solicit RFQ's, IFB's, or RFP's/ award contracts/ document
receipts of supplies (SAP 12-13)
The form used to amend a solicitation of a contract is what? - Answer: SF-30 (SAP 12-1)
A legally binding relationship obligating the seller to furnish the supplies and services and the
buyer to pay for them is called a? - Answer: CONTRACT
,SK1 SWE
The simplified acquisition threshold stops at how much? - Answer: $150,000 ($100,000 SAP)
inside US
1 Million outside US
(SAP 1-1)
The form used to purchase supplies and services if the cost is equal or greater than $3,000? -
Answer: SF-1449
The count team uses what method of counting during the count? - Answer: THE BLIND COUNT
(SPPM 3-E-8)
What is minimum causative research - Answer: A review of all Transactions, shipments
discrepancies, and catalog change sections since last inventory
OM&S assets valued at less than $2,000 is what? - Answer: Random sample inventory
These people review count sheets, reconcile the inventory, create adjustment reports, and
prepare the inventory package for the PCO? - Answer: The Research and adjustment personnel,
RA's
These people carry out a count of OM&S inventory items? - Answer: Count Team
This person supervises the entire inventory process, he certifies the inventory and forwards the
package to the CO? - Answer: PCO
The sample OM&S inventory report is due when? - Answer: 4th quarter
Capitalized OM&S is everything with a value equal to or greater than? - Answer: $2,000
,SK1 SWE
Capitalized OM&S inventory report is due when? - Answer: 4th quarter
What is used to compare the physical inventory count to the count in CMplus? - Answer: Master
count sheet
The count team turns in all count sheets to whom when completed? - Answer: the RA's
What determines the number of items in a sample count report? - Answer: Sample Size Table in
the (SPPM 3-E-12)
This person certifies the inventory as correct? - Answer: PCO
When necessary, they prepare the CG-3114 form? - Answer: The RA's
What scheduled requirements are considered minimal for effective inventory control? - Answer:
semi-annual random counts/ 4th quarter inventory of capitalized assets/4th quarter random
counts.
What form should you count team use to report inventory losses and gains? - Answer: cg-3114
For second and subsequent inventory counts, there must be what? - Answer: 2 new counters
What kind of research does the RA do? - Answer: minimum causative research
A complete wall-to-wall inventory before the end of the fiscal year must be done if the results
are less than what? - Answer: 1-150 items requires sample size of 20 with 0 allowable errors
, SK1 SWE
151-280 items requires sample size of 32 with 1 allowable error
281-500 items requires sample size of 50 with 2 allowable errors
Total dollar values for reporting discrepancies range from a minimum of less than ____ to
greater than or equal to $100,000? - Answer: $10,000 (SPPM 3-E-16)
What does the PCO certify as complete? - Answer: The inventory Package
A review of potential discrepancies, which involves conducting warehouse search counts,
consideration of recent transactions, receipt/issue documentation and verification of catalog
federal logistic data is what? - Answer: Pre-adjustment research
The purpose of pre-adjustment research is to determine what? - Answer: the correct balance
All controlled and sensitive items counted annually shall require an accuracy standard of what? -
Answer: 100% accuracy
Reporting requirements for inventory lost, damaged, or destroyed with a dollar value between
$5,000 -$100,000 are reported on what? - Answer: Report of survey with an adjustment form
CG-3114
(SPPM 3-E-16)
Reporting requirements for inventory loss, damaged, or destroyed with a dollar value less than
$5,000 are reported on what? - Answer: Adjustment form cg-3114 or CMplus inventory report
(SPPM 3-E-16)
How many copies of the SF-120 do you make for ISC, MLC, and headqaurters - Answer: 4 copies
For purchases exceeding $3,000, how many quotes are acceptable? - Answer: 3 quotes
Purchases under $3,000 must be equally distributed among qualified suppliers? - Answer: True
For purchases in excess of $3,000, the _____ shall solicit quotations from a reasonable number
of qualified sources. - Answer: KO
The KO shall establish and maintain documentation of ORAL quotes to determine the best value
for the government. - Answer: True
The supplies or services with an anticipated dollar value more than $3,000, but less than
$150,000 ($100,000 - SAP isn't updated yet) are reserved exclusively for? - Answer: Small
Business (SAP 3-1)
Simplified Acquisition Procedures are divided into how many categories? - Answer: 2, micro-
purchase & simplified Acquisitions
The form used to purchase supplies if the cost is less than or equal to $3,000? - Answer: OF-347
The use of the SF-1449 is to? - Answer: Solicit RFQ's, IFB's, or RFP's/ award contracts/ document
receipts of supplies (SAP 12-13)
The form used to amend a solicitation of a contract is what? - Answer: SF-30 (SAP 12-1)
A legally binding relationship obligating the seller to furnish the supplies and services and the
buyer to pay for them is called a? - Answer: CONTRACT
,SK1 SWE
The simplified acquisition threshold stops at how much? - Answer: $150,000 ($100,000 SAP)
inside US
1 Million outside US
(SAP 1-1)
The form used to purchase supplies and services if the cost is equal or greater than $3,000? -
Answer: SF-1449
The count team uses what method of counting during the count? - Answer: THE BLIND COUNT
(SPPM 3-E-8)
What is minimum causative research - Answer: A review of all Transactions, shipments
discrepancies, and catalog change sections since last inventory
OM&S assets valued at less than $2,000 is what? - Answer: Random sample inventory
These people review count sheets, reconcile the inventory, create adjustment reports, and
prepare the inventory package for the PCO? - Answer: The Research and adjustment personnel,
RA's
These people carry out a count of OM&S inventory items? - Answer: Count Team
This person supervises the entire inventory process, he certifies the inventory and forwards the
package to the CO? - Answer: PCO
The sample OM&S inventory report is due when? - Answer: 4th quarter
Capitalized OM&S is everything with a value equal to or greater than? - Answer: $2,000
,SK1 SWE
Capitalized OM&S inventory report is due when? - Answer: 4th quarter
What is used to compare the physical inventory count to the count in CMplus? - Answer: Master
count sheet
The count team turns in all count sheets to whom when completed? - Answer: the RA's
What determines the number of items in a sample count report? - Answer: Sample Size Table in
the (SPPM 3-E-12)
This person certifies the inventory as correct? - Answer: PCO
When necessary, they prepare the CG-3114 form? - Answer: The RA's
What scheduled requirements are considered minimal for effective inventory control? - Answer:
semi-annual random counts/ 4th quarter inventory of capitalized assets/4th quarter random
counts.
What form should you count team use to report inventory losses and gains? - Answer: cg-3114
For second and subsequent inventory counts, there must be what? - Answer: 2 new counters
What kind of research does the RA do? - Answer: minimum causative research
A complete wall-to-wall inventory before the end of the fiscal year must be done if the results
are less than what? - Answer: 1-150 items requires sample size of 20 with 0 allowable errors
, SK1 SWE
151-280 items requires sample size of 32 with 1 allowable error
281-500 items requires sample size of 50 with 2 allowable errors
Total dollar values for reporting discrepancies range from a minimum of less than ____ to
greater than or equal to $100,000? - Answer: $10,000 (SPPM 3-E-16)
What does the PCO certify as complete? - Answer: The inventory Package
A review of potential discrepancies, which involves conducting warehouse search counts,
consideration of recent transactions, receipt/issue documentation and verification of catalog
federal logistic data is what? - Answer: Pre-adjustment research
The purpose of pre-adjustment research is to determine what? - Answer: the correct balance
All controlled and sensitive items counted annually shall require an accuracy standard of what? -
Answer: 100% accuracy
Reporting requirements for inventory lost, damaged, or destroyed with a dollar value between
$5,000 -$100,000 are reported on what? - Answer: Report of survey with an adjustment form
CG-3114
(SPPM 3-E-16)
Reporting requirements for inventory loss, damaged, or destroyed with a dollar value less than
$5,000 are reported on what? - Answer: Adjustment form cg-3114 or CMplus inventory report
(SPPM 3-E-16)
How many copies of the SF-120 do you make for ISC, MLC, and headqaurters - Answer: 4 copies
