FCCM Study Set Questions and Correct Answers the Latest Update and Recommended Version
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Course
FCCM
Institution
FCCM
Seven Stages of Public Procurement?
(1) Need Identification, (2) Pre-solicitation, (3) Solicitation Preparation, (4) Solicitation,
(5) Response Evaluation, (6) Contract Award, (7) Contract Management
Stage One of Procurement includes:
Known as the Identification stage:
Need Identification
...
✓ Non-competitive; Delaying procurement would cause substantial loss to the state or an
immediate danger to public health, safety, or welfare
Exceptional Purchases
✓ Non-competitive; have a statutory or rule mandate for agencies to purchase from specific
entities according to specific contracts; includes RESPECT, PRIDE, State Term Contract,
Alternative Contract Source, Single Source, Exempt Commodities and Contractual
Services
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Competitive Solicitations
✓ Total cost of the commodities or contractual services exceeds $35,000 (Category 2)
Pre-Solicitation Process
✓ Describe the pre-solicitation process
✓ Identify the methods of competitive solicitation and when each is most appropriate to use
What are the Solicitation Team Functions?
✓ Ensure the competitive solicitation is conducted properly
✓ Ensure that the solicitation will successfully meet the procurement need
✓ Identify critical business requirements or public purpose
✓ Define the scope of the procurement need
✓ Conduct a market analysis
✓ Estimate potential costs
What are the three Payment Methods?
✓ Cost reimbursement, Fixed Price, Fixed Rate
Cost Reimbursement
✓ The provider submits a request for reimbursement and is reimbursed for allowable cost
incurred that are directly related to the commodities or services in the contract/grant.
Cost can only be reimbursed if payment has been made.
Fixed Price
✓ The project is divided into specified intervals and payment is distributed at those intervals
as long as the provider meet the required minimum performance at each interval. This
method of payment should only be used with competitive procurement projects and or
when there are historical costs available to provide a baseline for price.
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Fixed Rate
✓ Payments are based on a fixed rate
What are the three competitive solicitation methods?
✓ Invitation to bid (ITB), Requests for Proposals (RFP), Invitation to Negotiate (ITN)
What is the Focus of an ITB?
✓ Price
What is the focus of RFP?
✓ Price + Quality
What is the focus of ITN?
✓ Best Value
What is cost analysis?
✓ Reviews and evaluates each budget line item to determine if each item is: Allowable
✓ Reasonable
✓ Necessary
✓ Allocable
When is a cost analysis required?
✓ Legally required for agreements awarded on a noncompetitive basis. Best practice when
competitively procured for agreements with recipients/sub-recipients and cost
reimbursement agreements.
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