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FCCM Test Questions Solved 100% Correct
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FCCM Test Questions Solved 100% Correct
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FCCM Test Questions Solved 100% CorrectRequest 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.
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