Vendor Selection Procedure Quiz

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| By Tamara Ramsden

Tamara Ramsden

Community Contributor

Quizzes Created: 6 | Total Attempts: 1,773

Questions: 5 | Attempts: 112 | Updated: Feb 3, 2023

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Questions and Answers

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 above

Explanation
*##*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.

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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. True

Explanation
*##*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.

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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 3

Explanation
*##*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.

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4.

A Non-Disclosure Agreement must be signed by a potential vendor before talking about confidential information.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
*##*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.

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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. False

Explanation
*##*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.

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Current Version
Feb 03, 2023

Quiz Edited by
ProProfs Editorial Team
May 31, 2017

Quiz Created by
Tamara Ramsden

Vendor Selection Procedure Quiz

Which of the following is an example criteria for a potential vendor in a Rating Chart?

During the planning and discovery stage, you must review requirements, timelines, approach and rating criteria with the Managing Director.

How many companies are recommended for review with the Managing Director?

A Non-Disclosure Agreement must be signed by a potential vendor before talking about confidential information.

The RFP does not need a provided deadline for when the response needs to be received by CWD from the vendor.