CTCD Buyers exam study notes Questions With Complete Solutions

Purchasing correct answer: the receipt and processing of requisitions, development of specifications, development of statement of work, the issuance of purchase orders against existing statewide, cooperative or agency contracts, and the verification of the inspections of merchandise or receipt of services by the agency. The term does not include the development of solicitations and contract awards that must be posted to the electronic state business daily (ESBD) or in the Texas Register Contract development correct answer: The term applies to actions taken prior to contract execution, including the receipt and processing of requisitions, assessment of need, development and review of specifications, development and review of scopes of work, identification and selection of procurement methods, identification and preparation of evaluation criteria, preparation and advertising of solicitation documents, tabulation of respondent bids, evaluation of respondent proposals, negotiation of proposals, and the preparation and completion of contract award documents. The term does not include invoice or audit functions. contract management correct answer: the term applies to actions taken following contract execution, including the assessment of risk, verification of contractor performance, monitoring compliance with deliverable and reporting requirements, enforcement of contract terms, monitoring and reporting of vendor performance, and ensuring that contract performance and practices are consistent with applicable rules, laws, and the state of texas procurement and contract management guide. fundamentals of procurement correct answer: fairness transparency; best value for the state; own the mission; good steward of public funds Texas Comptroller of Public Accounts correct answer: state tax collector and treasury, state accountant; procurement oversight; develop and manage statewide term contracts for use by over 200 state agencies and universities contract value correct answer: the initial value of the contract, including anticipated extensions and renewals for the contract`s full existence a contract with an initial value of $4 million, with three optional, annual renewals of the same amount. What is the contract value? correct answer: $16 million a contract with an initial value of $200,000 with 2 optional, annual renewals of the same amount. What is the contract value? correct answer: $600,000 SPD correct answer: the entity that 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: assi