ANSWERS MARKED A+
✔✔While bids are typically awarded to the low responsive/responsible, this category
awards to: - ✔✔The highest rank proposer
✔✔Rather than obtaining the lowest cost, RFP's seek to achieve: - ✔✔Best Value
✔✔RFP's may use either verbal or numerical evaluation methods in order to: -
✔✔Score the proposals
✔✔The general conditions of a solicitation are more commonly known by this heating-
related term: - ✔✔Boiler plate
✔✔The extent to which procurement provides the needed goods and services within
acceptable quality standards is known as: - ✔✔Effectiveness
✔✔This Italian economist lent his name to the concept of the "significant few", more
commonly known as the 80/20 rule. - ✔✔Pareto
✔✔This type of specification details the physical characteristics and is typically used in
construction - ✔✔Design specifications
✔✔A warranty that exists because the vendor provided the agency with a sample is
known as an: - ✔✔Express warranty
✔✔The terms express, implied, inherent and apparent are all types of - ✔✔Authority
✔✔The risk that a solicitation will adequately communicate the need of the agency to
bidders is known as: - ✔✔Proposal risk
✔✔This contract pricing is appropriate when market or labor conditions are unstable
over an extended period. - ✔✔Fixed price with escalation
✔✔Life-cycle costing is synonymous with: - ✔✔Total cost of ownership
✔✔While there are 7 "rights" of procurement, these two also name the committee chair
who arranges chapter meetings - ✔✔Time and place
✔✔Statutes, ordinances, charters, rules, regulations and policies that allow us to do our
jobs are all examples of: - ✔✔Enabling legislation
, ✔✔Escrow deposits, cashier's checks and irrevocable letters of credit are examples of: -
✔✔Surety
✔✔Principles of good conduct embodied in a code. - ✔✔Ethics
✔✔Using departments performing similar functions with different pieces of equipment
might benefit from: - ✔✔Standardization
✔✔An agency owns the goods in transit under this common freight term: - ✔✔FOB
Origin
✔✔Indemnification clauses are added to our terms and conditions to protect the agency
from: - ✔✔Acts of the vendor
✔✔As one of the six elements of a contract, it details the performance requirements. -
✔✔Definiteness
✔✔The type of law developed through the decisions of judges is known as: -
✔✔Common Law
✔✔Several divisions within a government entity purchase equipment to do similar work.
Each division has its favorite type of equipment. What process would increase efficiency
and savings across the divisions? - ✔✔Standardization
✔✔A latent defect is one: - ✔✔That surfaces after a product has been in use.
✔✔Severely limiting the time someone has to bid on a contract is a form of which type
of bid rigging - ✔✔Solicitation manipulation
✔✔ - ✔✔
✔✔ You are leading the procurement for a new enterprise resource planning IT system
that will be deployed across the entity. Proposers likely will use various subcontractors
for integration, project management, and training. The users have expressed concern
about financial viability of the successful contractor; the entity does not have the
financial resources to mitigate risk from a default. What requirement would best protect
the entity? - ✔✔Legal or statutory requirements
✔✔You are leading the procurement for a new enterprise resource planning IT system
that will be deployed across the entity. Proposers likely will use various subcontractors
for integration, project management, and training. The users have expressed concern
about financial viability of the successful contractor; the entity does not have the