Vendor Selection Procedure Quiz
The Vendor Selection Procedure Quiz assesses knowledge on selecting appropriate vendors, focusing on criteria evaluation, confidentiality agreements, and RFP deadlines. It is essential for professionals involved in procurement and vendor management.
- 1.
Which of the following is an example criteria for a potential vendor in a Rating Chart?
- A.
Gut Feel
- B.
Proximity
- C.
Years Active
- D.
All of the above
Correct Answer
D. All of the aboveExplanation
*##*CORRECT! These are all example criteria for a potential vendor in a Rating Chart. The criteria will change for every selection process based on the vendor type. *##*INCORRECT: These are all example criteria for a potential vendor in a Rating Chart. The criteria will change for every selection process based on the vendor type.Rate this question:
-
- 2.
During the planning and discovery stage, you must review requirements, timelines, approach and rating criteria with the Managing Director.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
*##*CORRECT! During the planning and discovery stage, you must review requirements, timelines, approach and rating criteria with the Managing Director.*##*INCORRECT: During the planning and discovery stage, you must review requirements, timelines, approach and rating criteria with the Managing Director.Rate this question:
-
- 3.
How many companies are recommended for review with the Managing Director?
- A.
All of them
- B.
Top 1
- C.
Top 3
- D.
Top 5
Correct Answer
C. Top 3Explanation
*##*CORRECT! The top 3 companies with the highest ratings are recommended for review with the Managing Director. *##*INCORRECT: The top 3 companies with the highest ratings are recommended for review with the Managing Director.Rate this question:
-
- 4.
A Non-Disclosure Agreement must be signed by a potential vendor before talking about confidential information.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
*##*CORRECT! A Non-Disclosure Agreement must be signed by a potential vendor before talking about confidential information. *##*INCORRECT: A Non-Disclosure Agreement must be signed by a potential vendor before talking about confidential information.Rate this question:
-
- 5.
The RFP does not need a provided deadline for when the response needs to be received by CWD from the vendor.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
*##*CORRECT! The RFP must include a deadline for when the response needs to be received by CWD from the vendor. *##*INCORRECT: The RFP must include a deadline for when the response needs to be received by CWD from the vendor.Rate this question:
-
Quiz Review Timeline +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
-
Current Version
-
Feb 03, 2023Quiz Edited by
ProProfs Editorial Team -
May 31, 2017Quiz Created by
Tamara Ramsden
Back to top