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A. Your company has experienced a demerger from another organization.

B. Your company has been merged with another organization.

C. Your company has been acquired by another organization.

D. Your company has split from another organization.

10. This document describes the goods or services you want to procure from outside
the organization.

A. RFQ

B. RFP

C. RFI

D. SOW

11. You have just posted an RFP and have invited the vendors to participate in a

meeting to ask questions about the work of the project. What is this meeting called?

A. RFP conference

B. Bidders conference

C. Procurement communication conference

D. Sellers conference

12. This vendor selection method weighs various criteria from the RFP and SOW,
scores each vendor on each of the criteria, and determines an overall score for each
vendor.

A. Weighted scoring model

B. Screening system

C. Seller rating system

D. Independent estimates

13. This type of contract is the riskiest for the buyer.

A. Time and materials

B. Fixed price

C. Fixed price plus incentive

D. Cost reimbursable

14. This type of contract assigns a unit rate for work or goods, but the total cost is

unknown.

A. Time and materials

B. Fixed price

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