Study guides, Class notes & Summaries

NIGP Terms Volume III Exam Questions and Answers Advance Payments - Answer-Agreed upon disbursements between buyer and seller made prior to the delivery of the contracted goods and services. Payments may be for a stated amount or for a percentage of the purchase price. Sometimes referred to as Cash in Advance. Agreement - Answer-An understanding between two or more parties in which they state a common understanding and intention regarding past or future intentions or facts, sometimes with a ...

NIGP Procurement Terms set 2 Questions and Answers Tax Burden - Answer-A measure of the taxes paid relative to another constant factor, such as total personal income. (Schiller, 2000) TCO - Answer-Total Cost of Ownership Team Development Stages - Answer-Stages include: 1. Forming - Members decide whether to join the group, learn the traits and strengths of other members and identify a leader; 2. Storming - The team experience developmental issues due to personality conflict and difficulty...

NIGP Exam Questions with Correct Answers A+B Bidding - Answer-A cost-plus-time bidding procedure that selects the low bidder based on a monetary combination of the contract bid items (A) and the time (B) needed to complete the project or a critical portion of the project. It is used to motivate the contractor to minimize the overall time on high priority and high usage projects. This encourages contractors to finish early by (1) offering bonuses for early completion and (2) assessing fines for...

NIGP CPP Module A Exam Questions and Answers All Correct A strategic plan is a course of action to achieve long-range goals, generally up to five years. Strategic plans reflect the company's direction and its purpose as stated in its mission statement. To develop strategic plans, top management must develop and use summary reports on finances, operations, and the external environment. - Answer- Strategic Plan A tactical plan is a course of action to achieve short-term goals, generally withi...

NIGP CPP Bridge Exam Questions and Answers All Correct Disadvantaged Business Entity - Answer-Business in which majority ownership belongs to members determined to be historically underprivileged because of a predetermined social advantage small business - Answer-an independently owned firm, corporation, or establishment having a small number of employees, low volume of sales, small amount of assets and limited impact on the market Small Business Administration - Answer-Congress created...

NIGP Exam Questions with Correct Answers A+B Bidding - Answer-A cost-plus-time bidding procedure that selects the low bidder based on a monetary combination of the contract bid items (A) and the time (B) needed to complete the project or a critical portion of the project. It is used to motivate the contractor to minimize the overall time on high priority and high usage projects. This encourages contractors to finish early by (1) offering bonuses for early completion and (2) assessing fi...

NIGP Terms Volume III Exam Questions and Answers Advance Payments - Answer-Agreed upon disbursements between buyer and seller made prior to the delivery of the contracted goods and services. Payments may be for a stated amount or for a percentage of the purchase price. Sometimes referred to as Cash in Advance. Agreement - Answer-An understanding between two or more parties in which they state a common understanding and intention regarding past or future intentions or facts, sometimes ...

NIGP Terms Volume III Exam Questions and Answers Advance Payments - Answer-Agreed upon disbursements between buyer and seller made prior to the delivery of the contracted goods and services. Payments may be for a stated amount or for a percentage of the purchase price. Sometimes referred to as Cash in Advance. Agreement - Answer-An understanding between two or more parties in which they state a common understanding and intention regarding past or future intentions or facts, sometimes with a ...

NIGP Procurement Terms set 2 Questions and Answers Tax Burden - Answer-A measure of the taxes paid relative to another constant factor, such as total personal income. (Schiller, 2000) TCO - Answer-Total Cost of Ownership Team Development Stages - Answer-Stages include: 1. Forming - Members decide whether to join the group, learn the traits and strengths of other members and identify a leader; 2. Storming - The team experience developmental issues due to personality conflict and difficulty...

NIGP Exam Questions with Correct Answers (1) A+B Bidding - Answer-A cost-plus-time bidding procedure that selects the low bidder based on a monetary combination of the contract bid items (A) and the time (B) needed to complete the project or a critical portion of the project. It is used to motivate the contractor to minimize the overall time on high priority and high usage projects. This encourages contractors to finish early by (1) offering bonuses for early completion and (2) assessing fines ...