CGFO - Financial Administration - Purchasing/Procurement || with
Complete Solution.
Privatization correct answers Divestiture of BOTH management and assets of public function to
the private sector
Outsourcing correct answers Divestiture of ONLY the management of a public function to an
outside source
Competition correct answers Provide fair opportunities to qualified vendors to vie against each
other to offer the best prices, quality, and service
Kickback correct answers Accepting value to influence award of contract
Price Fixing correct answers Arrangement between competitors that interfere with the price
Bid Rigging correct answers Horizontal agreements among competitors to manipulate
competitive bidding process
Managed Competition correct answers Requiring in-house service units to compete with external
providers
Monopolization correct answers Single firm has control and charge any price without fear of
losing business in the market
Bribe correct answers Promise, obligation, gift, or reward in order to secure contract
Attempt to influence outcome, should declare the contract void
Blanket Order correct answers Arrangement with vendor to provide item(s) or service on an as
required/needed basis over-the-counter
, Procurement Team correct answers Budget Office
Program Manager (or department rep)
Purchasing Staff
Legal Staff
Accounting
Procurement Stages correct answers Planning
Scheduling
Vendor Selection
Contract Administration
A Good Purchasing Policy Has correct answers Performance Measures
Vendor selection/preference guidelines
A defined way to purchase commodities, services and capital items
National Association of State Procurement Officials (NASPO) correct answers Refers to
principles and practices
Provides road map
Utilize book
Procurement Program correct answers NASPO
Every program has strengths and weaknesses
Results depend on laws, rules, management, tradition, and resources
Competitive Process Essential Elements correct answers Ordinance
Documents
Complete Solution.
Privatization correct answers Divestiture of BOTH management and assets of public function to
the private sector
Outsourcing correct answers Divestiture of ONLY the management of a public function to an
outside source
Competition correct answers Provide fair opportunities to qualified vendors to vie against each
other to offer the best prices, quality, and service
Kickback correct answers Accepting value to influence award of contract
Price Fixing correct answers Arrangement between competitors that interfere with the price
Bid Rigging correct answers Horizontal agreements among competitors to manipulate
competitive bidding process
Managed Competition correct answers Requiring in-house service units to compete with external
providers
Monopolization correct answers Single firm has control and charge any price without fear of
losing business in the market
Bribe correct answers Promise, obligation, gift, or reward in order to secure contract
Attempt to influence outcome, should declare the contract void
Blanket Order correct answers Arrangement with vendor to provide item(s) or service on an as
required/needed basis over-the-counter
, Procurement Team correct answers Budget Office
Program Manager (or department rep)
Purchasing Staff
Legal Staff
Accounting
Procurement Stages correct answers Planning
Scheduling
Vendor Selection
Contract Administration
A Good Purchasing Policy Has correct answers Performance Measures
Vendor selection/preference guidelines
A defined way to purchase commodities, services and capital items
National Association of State Procurement Officials (NASPO) correct answers Refers to
principles and practices
Provides road map
Utilize book
Procurement Program correct answers NASPO
Every program has strengths and weaknesses
Results depend on laws, rules, management, tradition, and resources
Competitive Process Essential Elements correct answers Ordinance
Documents
