NIGP

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...

Business Life Cycle Stages Questions and Answers 7 There are ___ stages in a business life cycle. Existence stage The first stage of the business life cycle marked by the business being in operation but not yet stable in terms of markets, operations, or finances. Survival stage period when revenues start to grow and help pay some, but typically not all, of the expenses Success stage The third stage of the business life cycle marked by the firm being established in its m...

NIGP Questions with 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 late completi...

NIGP Terms - Volume III Questions with 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 vi...

Surety - Answer-a pledge or guarantee by an insurance company, bank, individual or corporation on behalf of a bidder or offeror which protects against default or failure of the principal to satisfy the contractual obligations. accountability - Answer-The principle that employees who accept an assignment and the authority to carry it out are answerable to a superior or a higher authority for the outcome. acceptance - Answer-1. Indication that an offeree is bound by the terms of the offer. ...

I Questions NIGP CPP EXAM B Focus Area with Answers What is the goal of public procurement? - Answer-To obtain optimum market response at a fair price with quality and timeliness while serving long-term interests. What is the role of procurement as a strategic partner? - Answer-To provide strategic value to governmental entities by working with stakeholders and advisers. What is the importance of strategic planning in procurement planning? - Answer-It provides the framework to develop pro...