Exam (elaborations)
FCCM Test | Questions Solved 100% Correct| Verified Answers
- Course
- Institution
FCCM Test | Questions Solved 100% Correct| Verified Answers
[Show more]
Content preview
FCCM Test | Questions Solved 100% Correct|Verified Answers
Stakeholder - ✔✔An individual, who is not likely to become a provider, who has an interest
in the commodities/contractual services needed.
Request for Proposal (RFP) - ✔✔"A written or electronically posted solicitation for
competitive sealed proposals."
Request for Information (RFI) - ✔✔"A written or electronically posted request made by an
agency to vendors for information concerning commodities or contractual services. Responses
to these requests are not offers and may not be accepted by the agency to form a binding
contract."
Procurement Need - ✔✔An identified lack of a commodity or contractual service that an
agency or program area requires to complete its normal business or fulfill its mission.
Procurement Staff - ✔✔Agency personnel who are responsible for making purchases or
engaging in the procurement process.
Point of Entry - ✔✔A term of art which describes an agency decision that allows a provider
to file a protest.
Critical Business Requirements - ✔✔A business need that a commodity or contractual service
will fulfill.
Competitive Solicitation - ✔✔"The process of requesting and receiving two or more sealed
bids, proposals, or replies submitted by responsive vendors in accordance with the terms of a
competitive process, regardless of the method of procurement."
, Cost Reimbursement - ✔✔The provider submits a request for reimbursement and is
reimbursed for allowable cost incurred that are directly related to the commodities or services
in the contract/grant. Cost can only be reimbursed if payment has been made.
Fixed Price - ✔✔The project is divides into specified intervals and payment is distributed at
those intervals as long as the provider meet the required minimum performance at each
interval. This method of payment should only be used with competitive procurement projects
and or when there are historical costs available to provide a baseline for price.
Fixed Rate - ✔✔Payments are based on a fixed rate (hourly, per unit, etc.) This method is
based on the providers performance.
Combination of Payment Methods - ✔✔A contract may use one or all combinations of
payment methods.
A contract for services that pay the provider a set amount for each hour worked is an example
of which payment method? - ✔✔Fixed Rate
Invitation to Bid, the focus is on - ✔✔Price Only
Request for Proposals, the focus is on - ✔✔Price and Quality
Invitation to Negotiate, the focus is on - ✔✔Best Value
Competititve solicitations generally include - ✔✔goals, scope of work, special instructions,
special contract conditions
3 minimum - ✔✔If the solicitation is a category four or higher, how many members must be
on the evaluation team?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
82871 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now