An Organization Needs a Vendor to Provide a Solution

question 227

Multiple Choice

An organization needs a vendor to provide a solution. The organization can only describe its goals but not how to accomplish the work. Which of the following types of procurement should be used?

• A) Request for information
• B) Request for quote
• C) Request for bid
• D) Request for proposal

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Definitions:

Risk-Free Asset

An investment with a guaranteed return and no risk of default, often represented by government bonds from stable governments.

Strike Price

The predetermined price at which the holder of an option can buy (in the case of a call option) or sell (in the case of a put option) the underlying security or commodity.

Call

An option contract that gives the holder the right to purchase a stock, commodity, or other assets at a specified price within a specific time period.

Intrinsic Value

The fundamental value of a company, stock, currency, or product determined through financial analysis without reference to its market value.