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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.

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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

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