CPPB EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+| latest update 2024/25|

CPPB EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ Radio frequency identification (RFID) - -New approaches to distribution and inventory managements. Vendor Managed Inventory - -Mostly in private sector, where vendor manages inventory. Electronic signatures - -Digital signatures that permit sending authentic electronic documents. Uses a complex mathematical formula to calculate and attach a certificate to the message that verifies the signers identity. Joint use ventures - -Agreement between various governmental agencies that may involve the joint use of public property such as buildings and equipment These agreements max the value for the taxpayer but jurisdictional/territorial rights are diminished.. Code of Ethics - -Based on three concepts - Impartiality Demands that all suppliers and contractors are treated equally without discrimination. Honesty - Demands truth in all dealing, both with contractor and the public. Loyalty - Be faithful and dedicated to the entity and remain free from contract of interest, etc. ethics ARE AN IMPORTANT COMPONENT OF PROGESSIONALISM AND SHOULD BE EXTENDED BEYOND THE WORKING ENVIRONMENT, S/B LIFESTYLE. Challenges of globalization - -Cultural differences, lead time, trade agreements, Governmental processes, Transportation, Legal considerations, Communications, etc. Globalization - -WTO - World trade organization, NAFTA - North American Free Trade Agreement. Procurement Card, p-card - -Helps reduce the overall small purchases by reducing admin. cost, increase productivity, improving cash management, supplier flexibility, convenience. Green procurement - -Now pursuing environmentally friendly products. Product with recycled content. Established orgs. that set standards - -Underwriters Laboratories (UL), Canadian Standards Assoc. (CSA), American National Standards Institute (ANSI) Pan American Standards Commission 9COPANT), etc. Invitation to Bid aka Competitive Sealed Bid - -Preferred method for acquitting some good and or services and construction for public use in which award is made to the lowest responsive and responsible bidder. Does not include negotiation. More on invitation to bid - -Perceived to be the most impartial means of awarding a public contract. Open, fair and allows competition. How is the best value of an award achieved? - -Through the Request for proposal method. What is (ITN) Invitation to negotiate? - -Similar to RFP process, Two negotiation methods are allowed: single negotiation and concurrent negotiation. Name the four conditions that disallow the use of completive sealed bidding. - -1, Situation in which it is impossible to estimate cost with a high degree of certainly 2. Situation in which price is not the only variable. 3. Procurement anticipates a need to made a change in specifications or some other aspect of the purchasing contract 4. Situation in which special tools or setup cost are factors. Name the 7 rights of procurement. - -Right time,