FCCM Training Exam Questions With
Correct Answers
Procurement - answerTerm used in the government for purchasing goods or services, receiving
and inspection, inventory management, contract administration, and disposal/surplus
Seven Stages of Public Procurement - answer1. Need identification
2....
Cost reimbursement - answer✔The service provider is reimbursed for allowable
commodities/services related to the contract/grant
Fixed price - answer✔Payment for a service is distributed at specific intervals (ex: weekly,
monthly)
Fixed rate - answer✔Payments are based on fixed rates, such as hourly rate of pay or per unit
delivered
Solicitation methods - answer✔-Invitation to Bid (ITB): focused on price
-Request for Proposals (RFP): focused on price and quality
-Invitation to Negotiate (ITN): best value
Stage 3: Solicitation Preparation Process - answer✔Preparing a competitive solicitation before it
is released to the vendor community. This stage includes:
-Planning, drafting, and reviewing the solicitation
-Preparing the solicitation documents for posting
-Selecting the evaluation or negotiation teams
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