Recent Lessons

Show all results for ""

Feature Overview

Ace your exams with our all-in-one platform for creating and sharing quizzes and tests.

Quizzes

Create quizzes and tests automatically from your content using AI.

Flashcards

Automatically turn your notes into digital flashcards.

Share, Export & Embed

Share with classmates or export to Excel and your learning management system.

Stats & Reporting

Auto-grading quizzes and tests with detailed stats and reports.

Mobile Apps

The smarter way to study – wherever you are.

Pricing

Search...

7 Questions

0 Views

Are You a Procurement Pro?

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the micro-purchase method used for?

Purchasing from international suppliers

Purchasing specialized equipment

Purchasing small amounts (correct)

Purchasing large amounts

What are the three elements for proper procurement?

Aggregate purchase amount less than $5,000, equitable distribution, and reasonable cost

Aggregate purchase amount less than $10,000, equitable distribution, and unreasonable cost

Aggregate purchase amount less than $10,000, equitable distribution, and reasonable cost (correct)

Aggregate purchase amount less than $10,000, inequitable distribution, and reasonable cost

Is micro-purchase the primary method of procurement?

It is not mentioned in the text

Yes

No (correct)

It depends on the situation

What should be used to determine appropriate procurement method?

Forecasting and budgeting Signup and view all the answers

Can the micro-purchase threshold be used instead of applicable procurement methods?

No Signup and view all the answers

Do Buy American provisions apply to micro-purchases?

Yes Signup and view all the answers

Is competitive purchasing required for micro-purchases?

No Signup and view all the answers

Study Notes

Micro-purchase method is for purchasing small amounts.
Three elements for proper procurement: aggregate purchase amount less than $10,000, equitable distribution, and reasonable cost.
Micro-purchases are not the primary method of procurement.
Forecasting and budgeting should be used to determine appropriate procurement method.
Micro-purchase threshold cannot be used in lieu of applicable procurement methods.
Buy American provisions apply to micro-purchases.
Competitive purchasing is not required for micro-purchases.
Cost analysis is not required but price must be reasonable.
Purchases must be distributed among qualified suppliers.
Blanket purchase orders can be used.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Test your knowledge on the micro-purchase method and procurement rules with this quiz! Learn about the three elements for proper procurement, the role of forecasting and budgeting, and the application of Buy American provisions. See if you know when competitive purchasing is required and when cost analysis is necessary. This quiz covers the ins and outs of micro-purchases, including the use of blanket purchase orders and distribution among qualified suppliers. Sharpen your skills in procurement with this informative quiz!