An integrated solution.

1. A contract is considered complete when:

2. Which of the following is not an element of a binding contract?

3. An equitable adjustment:

4. Inventory Management includes which of the following activities?

5. Highballing, low balling quid pro quo and agreement/rebuttal are competitive techniques to influence the other party in a negotiation and all fit under the category of:

6. The term ____________ applies to the assurances that a seller provides to a buyer relating to the proper portrayal of the product features.

7. A purchasing strategy must be developed before:

8. Reverse auctions:

9. Key Performance Indicators (KPIs) are developed to motivate suppliers to examine their contributions, allow for corrective action to improve contributions, and create competition among suppliers to receive the best performance.

10. Which of the following is not a type of contract change?

11. The United States act that prohibits payment of bribes to facilitate international commerce is called:

12. Which of the following is an example of unallowable costs?

13. Anticipation stock includes all of the following EXCEPT:

14. The four components of a successful framework for the negotiation process are:

15. Electronic commerce involving buyers and sellers sharing information on specifications, requirements, delivery and payment is called:

16. Which of the following is not a key task for spend analysis?

17. In the source selection process, which of the following would be the least useful strategy to employ in selecting good evaluation criteria?

18. Monitoring activities for supplier evaluation include:

19. Which is an appropriate order of the various steps to take when closing out a contract?

20. The rights and liabilities of you and a defaulted contractor:

21. One of the primary sources of price analysis information is:

22. Cycle counting is an inventory management procedure where a small subset of inventory is counted on any given day. When using cycle counting it is important that all inventories be counted at least once annually.

23. By intervening structurally, negotiators can produce all the following positive results EXCEPT:

24. ______________ can be used to evaluate market conditions, substitute products, and buyer/seller power.

25. Which of the following is NOT one of the steps for strategic sourcing?

26. Which of the following situations would be most appropriate for the use of oral discussions?

27. Which of the following is NOT a key to successful supplier relationships?

28. Developing a sound and ethical business relationship with the supplier is part of which stage of contract administration?

29. The Uniform Commercial Code was first published to:

30. An example of a supplier’s direct cost of production is:

31. Which of the following is NOT a type of inventory?

32. In preparing for negotiations is important to:

33. Fixed-price contracts:

34. When developing a strategic perspective, a supply manager should consider utilization of staff, development of the supply base, systems and tools used and:

35. In developing evaluation standards for best-value procurements:

36. The first step in supplier development is to:

37. Reading the contract, determining the extent of performance monitoring and delegating contract management functions are steps in what process?

38. An informal Alternative Dispute Resolution (ADR) process in which evidence is primarily documentary with little or no witness testimony and in which a decision is rendered to be used as an indication of how a board or court might decide the case is called:

39. Total Costs is a method to determine:

40. The inventory management technique of using a reorder point considers forecasted demand over the replenishment lead time, plus an allowance for safety stock to set the reorder point.

41. The first step in the negotiating process is:

42. An example of a document that describes in detail what is being purchased is a:

43. Effective category plans are _________ enough to meet legitimate individual needs of different lines of business.

44. An example of an effective supplier evaluation criterion would be:

45. When an issue comes up and a corrective action is identified, it is not important to get a firm commitment on the actions to be completed by the supplier:

46. When using cost/schedule control (or earned value) systems to track contract performance, cost variance is the:

47. The clause used in contracts to describe the responsibilities of the parties on quality is:

48. Costs associated with producing additional units are known as:

49. Organizations maintain inventory for which of the following reasons?

50. Which of the following is not an element of advantage negotiations?

51. Which of the following is not true about performance-based service contracting (PBSC)?

52. The practice of evaluating substitutes for current products, new designs and new materials is referred to as evaluating ________ technology.

53. During the source selection process, all the following are good practices to reduce chances of a protest EXCEPT:

54. To be effective, a supplier performance improvement process must be constructive, timely, focused on improvement, and:

55. The method of contract administration planning that assesses progress by task against targeted dates and also shows the interrelationships of tasks is known as:

56. You and contractor are negotiating several claims in which the contractor asserts that it is entitled to extra payment. Up to this time, all the contractor’s invoices have been paid. After about a month of negotiation the contractor informs you that it considers the nonpayment of the claims to be a breach of contract and ceases performance of the contract. Can you terminate the contract for default?

57. Factors for a “should cost” estimate include all but which of the following?

58. Safety stock can be calculated by dividing inventory level by:

59. When negotiating fee under a cost-reimbursement contract, you could consider all the following elements factors in the fee calculation EXCEPT:

60. A major difference between product and non-product purchasing is:

61. Which group is ultimately responsible for implementing the category strategy?

62. Which of the following is true about late proposals?

A late proposal may be:

63. Examples of quality measures include parts-per-million in defects, first pass yields, and:

64. Blanket purchase agreements:

65. The two elements that must be contained in a valid contract are the product or service and the:

66. What are aspects of a purchase that affect total costs called?

67. The type of inventory management system which evaluates the order quantity is:

68. Areas of typical difficulty in negotiations include all but which of the following?

69. Cost trends, standard practices, and industry supplier selection criteria are all examples of:

70. The link between cost savings and quality management can be seen in:

71. Post award debriefings do NOT include:

72. The goal of supplier development after contract signature is:

73. Which of the following is part of the contract administration process?

74. The type of problem resolution process where an outside party is hired to facilitate agreement is called:

75. The analysis of the likely cost of performance that is used any time there is a concern about the relationship between the proposed cost and the technical proposal is referred to as:

76. Just-In-Time delivery means that the supplier ships:

77. In preparing for negotiations, it is suggested that both buyers and sellers set minimum, maximum and target positions on issues that are controllable by one or more parties at the table. This is done to:

78. A delivered price received from a supplier includes:

79. Shared resources, consistent policies and ________ are examples of advantages of centralization.

80. In the source selection process a deficiency is:

81. Supplier Evaluation Methods include:

82. The most commonly used methods of inspection are:

83. A written commitment for ongoing pricing and delivery arrangements is called a:

84. One way for a supplier to cover its profits and overhead is through:

85. The current value of inventory is referred to as the:

86. In negotiations, framing is used to:

87. The first step in the Purchasing Process is:

88. Elements of a category strategy are technology, market conditions, and:

89. You should always select the supplier offering the lowest total cost.

90. Which of the following are questionable innovations in supplier management?

91. Issuing a unilateral change that is outside the contract scope, failing to perform, and committing a fraudulent act in connection with a contract all constitute:

92. Which of the following is not true about price analysis?

93. A letter of credit is used to:

94. Examples of “old thinking” in supply management include many suppliers, tactical approaches, and:

95. Which of the following are key clauses for international contracting?

96. When evaluating labor rates, which of the following should you review?

97. A key issue in international contracting is:

98. In some companies, __________ outnumber employees, making it difficult to have an efficiently managed supply management process.

99. In contract law precedents relating to the concept of responsiveness of bids, which of the following is most likely to be considered a minor deviation that may be waived?

100. A technique used to evaluate the true value received from a specific purchase is called:

101. Three types of indefinite delivery contracts are:

102. One of the most effective ways to reduce costs is:

103. Which of the following statements is true about our underlying system?

104. An example of an indirect cost is:

105. An “SOW” is another way of describing:

106. The process of rationalizing suppliers is called:

107. In the application of liquidated damages, case law and regulations have established that:

108. Elements that distinguish global sourcing from domestic sourcing are customs, transport, and: