CTCM Certification Exam Latest Update 2024- 2025 300+ Questions and Verified Correct Answers Guaranteed A+ $5k to $25k = __________ bidding - CORRECT ANSWER: Informal A contract with an initial value of $4 million, with three (3) optional, annual renewals of the same amount. What is the contract value? Include formula for the answer. - CORRECT ANSWER: Initial + Renewals (4) + (4+4+4) = $16 Million A contract with an initial value of $200,000, with two (2) optional, annual renewals of the same amount. What is the contract value? Include the formula in your response. - CORRECT ANSWER: Initial + Renewals (200,000) +(200,000+200,000) = $600,000 A debarment check is done by checking the ____ database to establish that the vendor is not debarred by the Texas Comptroller of public accounts - CORRECT ANSWER: CMBL A definitions section is important in an RFP to __________. A. Clarify the meaning of words if used differently than their normal meaning B. Spell out acronyms that are used throughout the solicitation C. Define any technical terms or industry specific language D. All of the above - CORRECT ANSWER: D. All of the above A Direct Publication Purchase consists of all of the following except: A. Commodity or services only available from the Publisher B. Back issues of magazines, journals, and newspapers C. Subscription services for magazines, journals, and newspapers D. Computer software and software maintenance E. Hard and electronic Publications produced by professional societies - CORRECT ANSWER: D. Computer software and software maintenance Reason: Computer software yes, but maintenance no. Hardware and IT may not be purchased as a direct publication. A material change in a proposed contract constitutes a counteroffer, which must be agreed to by the other party for there to be a finding contract between the parties. Also referred to as a "meeting of the minds". This is the description of which element of a contract. A. Legal Purpose B. Consideration C. Acceptance D. Offer E. Competent Parties - CORRECT ANSWER: D. Offer A purchase is being conducted with the following criteria: Lots of competition exist and products are standardized and uniform. Award will be made to the lowest responsible bidder providing best value to the State. Purchase is for product not service. Which is the best purchasing method for this purchase? A. Request for Qualifications B. Invitation for Bid C. Request for Proposals D. Request for Information - CORRECT ANSWER: B. Invitation for Bid (IFB) A Request for Proposal (RFP) consist of all of the following except: A. Is a sealed competitive process B. Contains a negotiation phase C. Is similar to the invitation for bid process D. Includes a best and final offer (BAFO) - CORRECT ANSWER: C. Is similar to the invitation for bid process Reason: The IFB does not allow for negotiations and an RFP's products and services are not necessarilty standardized like an IFB's are; an RFP allows for customized proposals. A specification that focuses on the outcomes or results rather than the process in which the goods and services are produced are known as Performance Based Specifications. TRUE or FALSE. - CORRECT ANSWER: True A statement of work _____________________. A. Helps detail the specifications and outline the project B. Provides details like the agency point of contact and the solicitation number C. Lists major deadlines and events D. Includes the contract terms and conditions E. All of the above - CORRECT ANSWER: Helps detail the specifications and outline the project Affinity - CORRECT ANSWER: Through marriage Agencies are required to post solicitations to ___ if a contract is valued at $______ or more. - CORRECT ANSWER: Electronic state business daily and 25k or more Agency Procurement Plans - CORRECT ANSWER: The plan must be submitted by November 30th annually to SPD for potential contract consolidation All of the following require purchase to be done through a competitive process except: A. Purchase from another Agency B. Purchase of Printing from TCI Print Shop C. Purchase using a Request for Proposal D. Purchase using an Invitation for Bid - CORRECT ANSWER: A. Purchase from another agency An Invitation for Bid consists of all of the following except: A. Based on the lowest bid. B. Must meet the minimum specification C. Allows for negotiations - CORRECT ANSWER: C. Allows for negotiations Can I evaluate a bid from a high school friend that is employed by the bidder? - CORRECT ANSWER: I would need to disclose this information and most likely recuse myself. Can the price of an item be used as an exception from purchasing from the State Use Program? - CORRECT ANSWER: No Centralized Master Bidder's List (CMBL) - CORRECT ANSWER: Online directory that provides public professionals the ability to foster competition between vendors Circumstances where it is necessary to withhold payment - CORRECT ANSWER: Invoice errors, Undocumented and or unsupporting costs, remediating over payments to the vendor, contractor's performance is non-conforming or unacceptable Compensatory Damages - CORRECT ANSWER: Monetary amount necessary to compensate the injured party for the loss. Types of compensatory damages: Expectation damages, reliance damages, consequential damages Consanguinity - CORRECT ANSWER: Blood relationship Contract Advisory Team (CAT) - CORRECT ANSWER: Review and make recommendations on solicitations with an estimated value of at least $5 million CAT reviews recommendations and findings made by the state auditor Contract developers should use this system to review experiences and results from other state agencies on potential contractors - CORRECT ANSWER: Vendor performance tracking system (VPTS) Contract Development - CORRECT 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, evaluation criteria ; prep 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.