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1.  For many procurement items, the procuring organization can either prepare its own independent estimates or have an estimate of costs prepared by an outside professional estimator. This estimate serves as a:

   A) Potential-cost estimate
   B) Expected-cost estimate
   C) Benchmark estimate
   D) Must-cost estimate
   

2.  The administration team for a buyer is drafting up a contract to award work to an external supplier. They would include verbiage that the contract can be terminated for all of the following reasons except:

   A) For cause
   B) For default
   C) For convenience
   D) For the purpose of the court
   

3.  Contractual agreements with unions or other employee groups can require certain roles or reporting relationships. This is an example of:

   A) A gating mechanism.
   B) Mandated Resource planning
   C) A constraint that limits the HR planning process.
   D) Politics
   

4.  You are the project manager of a business that sells software contracting services to Banks. Recently, Fourth National bank has requested you to submit a proposal for their mortgage project that has been published for the bid. They have also requested you to register the name of your business on the list of qualified sellers. Which of the following statement about qualified sellers list is true?

   A) Qualified sellers list is the list generated from procurement negotiations and represents an output of the conduct procurements process
   B) Qualified sellers list gives the listing of vendors who have been selected to perform the work with the organization and represents an input to the plan procurements process
   C) Qualified sellers list gives the listing of vendors who have been pre-selected for their past experience with the organization and represents an input to the conduct procurements process
   D) Qualified sellers list is the list generated out of bidder conferences and represents an output of the conduct procurements process
   

5.  Which of the following is NOT a common name for one of the various types of procurement documents?

   A) Request for quotation
   B) Seller proposal
   C) Invitation to bid
   D) Tender notice