CIPS Exam L4M3 Topic 8 Question 8 Discussion

Actual exam question for CIPS's L4M3 exam

Question #: 8
Topic #: 8

[All L4M3 Questions]

Which of the following are true statements about RFQ process? Select TWO that apply.

ABuying organisation should only send RFQ to pre-qualified suppliers

BRFQ process requires the suppliers to submit their technical proposals

CRFQ process creates heavier administrative burdens than tendering process

DPrice is often the only variable in the RFQ and quotations

ERFQ process is not suitable for low value purchase

Show Suggested Answer

Suggested Answer: A, D

Request for quotations is often used when the only variable is price and the purchase value is under a financial threshold. This process is less formal than ITT. RFQ should be used in the following circumstances:

- Low-value, low-risk purchases

- When the specifications are sufficiently defined or the product/service is standardised

- Where the suppliers are pre-qualified

- Where there is a framework agreement which specifies the contract terms and conditions.

LO 1, AC 1.1

by Dulce at Nov 15, 2022, 05:53 PM

Limited Time Offer

25%

Off

Get Premium L4M3 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Currently there are no comments in this discussion, be the first to comment!