CTCM Certification Exam Questions and Answers Solved 100%.

CTCM Certification Exam Questions and Answers Solved 100%. Purchasing - ANSWER-The receipt and processing of requisitions, development of specifications, development of statement of work, the issuance of purchase orders against existing statewide, cooperative or agency, contracts, and the verification of the inspection of merchandise on receipt of services by the agency. Contract Development - ANSWER-The term applies to actions taken prior to contract execution, including the receipt and processing of requisitions, assessment of need, development and review of specifications, development and review of scopes of work, identification and selection of procurement methods, identification and preparation of evaluation criteria, preparation and advertising of solicitation documents, tabulation of respondent bids, evaluation of respondent proposals, negotiation of proposals, and the preparation and completion of contract award documents. Contract Management - ANSWER-The term applies to actions taken following contract execution , including the assessment of risk, verification of contractor performance, monitoring compliance with deliverable and reporting requirements, enforcement of contract terms, monitoring and reporting of vendor performance, and ensuring that contract performance and practices are consistent with applicable rules, laws, and the State of Texas Procurement and Contract Management Guide. Contract Value - ANSWER-The initial value of the contract including anticipated extensions and renewals for the contract's full extension $16 million - ANSWER-A contract with an initial value of $4M, with three (3) optional, annual renewals of the same value. SPD - ANSWER-The entity that delegates purchasing authority to state agencies for non-IT goods and services Purchasing Authority - ANSWER-The ability of an agency to purchase goods and services using state funds Delegation of Purchasing Authority - ANSWER-Assigning purchasing authority to an agency. NOTE: Some agencies already have purchasing authority given by statute, or rule of certain procurements.