GFOA CPFO PROCUREMENT TEST
QUESTIONS AND ANSWERS
GFOA CPFO EXAM
Procurement is the method by which the government buys goods and services
for its use.
The steps in procurement are planning and organizing, source selection and
buying, and managing the contract.
Answer: The main goal of procurement is to get goods and services in the right
amount and quality on time, as quickly as possible, and for the least amount of
money.
Suspension: ANSWER: The vendor is temporarily not allowed to get
government contracts while actions that could lead to debarment are
investigated.
Debarment means that the seller can't get any more government contracts for a
certain amount of time.
Source selection is the process by which the government picks firms to work
with. Competitive source selection can be done in three main ways.
Answer the call to/for bids (ITB/IFB) for competitive sealed bids. A flat price or
unit costs that don't change. The award goes to the vendor whose price was the
lowest.
Competitive sealed proposals (CSP) are used to buy things and services that are
more expensive than a certain amount. This is done by sending out RFPs.
Request for Quotation (RFQ): A quote is not as official as a bid and can be
given over the phone.
A responsive bidder ANSWER is one that meets all of the important standards
set out in the solicitation.
QUESTIONS AND ANSWERS
GFOA CPFO EXAM
Procurement is the method by which the government buys goods and services
for its use.
The steps in procurement are planning and organizing, source selection and
buying, and managing the contract.
Answer: The main goal of procurement is to get goods and services in the right
amount and quality on time, as quickly as possible, and for the least amount of
money.
Suspension: ANSWER: The vendor is temporarily not allowed to get
government contracts while actions that could lead to debarment are
investigated.
Debarment means that the seller can't get any more government contracts for a
certain amount of time.
Source selection is the process by which the government picks firms to work
with. Competitive source selection can be done in three main ways.
Answer the call to/for bids (ITB/IFB) for competitive sealed bids. A flat price or
unit costs that don't change. The award goes to the vendor whose price was the
lowest.
Competitive sealed proposals (CSP) are used to buy things and services that are
more expensive than a certain amount. This is done by sending out RFPs.
Request for Quotation (RFQ): A quote is not as official as a bid and can be
given over the phone.
A responsive bidder ANSWER is one that meets all of the important standards
set out in the solicitation.
