Quiz_ Reverse Auction Quiz

Quiz_ Reverse Auction Quiz - Quiz: Reverse Auction Quiz

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Reverse Auction Quiz Submitted by cmd5150 on 2/8/2010 9:55:18 PM Points Awarded 16 Points Missed 0 Percentage 100% 1. When setting up a reverse auction, a buyer should not place more than ________ individual line items in one auction. A. 4-6 B. 2-4 C. 1-2 D. There is no limit Points Earned: 1/1 Correct Answer: B Your Response: B 2. A reverse auction is an online, real time, increasing price auction between multiple buying organizations and a pre-qualified supplier. Points Earned: 1/1 Correct Answer: False Your Response: False 3. In order to prevent bidders from placing a bid during the last seconds of the auction, without giving other bidders a chance to respond, you can do what? A. Set the auction parameters so all can see the lowest bid B. Set up auction parameters so bidders can see the rank only (not the lowest bid amount) C. Use terms and conditions that would make the auction a non-binding event D. Use auto-extension Points Earned: 1/1 Correct Answer: D Your Response: D 4. If you are the buyer of the following three items, and you are going to begin using reverse auctions, which would you select for your first reverse auction? A. An item that represents 50% of your purchase volume and you have one qualified vendor. B. A commodity item that represents 1% of your total purchases. C.
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Quiz_ Reverse Auction Quiz - Quiz: Reverse Auction Quiz

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