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1.  You are the project manager of a business that sells software contracting services to Banks. Recently, Fourth National bank has requested you to submit a proposal for their mortgage project that has been published for the bid. They have also requested you to register the name of your business on the list of qualified sellers. Which of the following statement about qualified sellers list is true?

   A) Qualified sellers list is the list generated from procurement negotiations and represents an output of the conduct procurements process
   B) Qualified sellers list gives the listing of vendors who have been selected to perform the work with the organization and represents an input to the plan procurements process
   C) Qualified sellers list gives the listing of vendors who have been pre-selected for their past experience with the organization and represents an input to the conduct procurements process
   D) Qualified sellers list is the list generated out of bidder conferences and represents an output of the conduct procurements process
   

2.  You have been chosen by a program management office (PMO) to write a purchase order for your expertise in business writing. You have learned that the PMO has already selected a seller for a software product and would like to award the procurement contract to the selected seller as a purchase order which you must prepare. In this scenario, the PMO is administering:

   A) The close procurements process
   B) The administer procurements process
   C) The plan procurements process
   D) The conduct procurements process
   

3.  A seller was notified that they were one of the selected sellers based on their proposal. The seller immediately circulated an internal newsletter stating that they had just been awarded a large contract for a term of 5 years. Would the newsletter be factually correct?

   A) The newsletter is likely to be factually incorrect. A selected seller is one whose proposal has been accepted and a contract has been completed pending signatures of the authorized parties.
   B) It is likely that the newsletter is factually incorrect. While the seller has been selected for the work, it is unlikely that the term of the project would have been 5 years.
   C) It is likely that the newsletter is factually incorrect. A selected seller is one whose proposal has been judged to be in a competitive range. It does not mean they have been awarded the work.
   D) The newsletter is likely to be factually correct. A selected seller is one who has been awarded a contract based on the procurement process.
   

4.  Which of the following is NOT a common name for one of the various types of procurement documents?

   A) Request for quotation
   B) Seller proposal
   C) Invitation to bid
   D) Tender notice
   

5.  For many procurement items, the procuring organization can either prepare its own independent estimates or have an estimate of costs prepared by an outside professional estimator. This estimate serves as a:

   A) Potential-cost estimate
   B) Expected-cost estimate
   C) Benchmark estimate
   D) Must-cost estimate