CAPM (Certified Associate in Project Management) Practice Exam

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Prepare for the CAPM (Certified Associate in Project Management) exam with our informative quiz. Test your knowledge through multiple-choice questions and detailed explanations to boost your confidence and readiness for the certification.

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What does 'single source' mean in procurement?

Using only one part in the manufacturing of a product
Selecting a seller without competition
Buying supplies from only one country
A contract with only one specific clause

The correct answer is: Selecting a seller without competition

Selecting a seller without competition is what 'single source' means in procurement. This practice implies that the buyer chooses a specific seller or supplier without considering or exploring other potential options. It can be beneficial in situations where the selected seller has a unique or specialized product or service that cannot be easily substituted by alternatives. The other options are not accurate definitions of 'single source' in the context of procurement: - Using only one part in the manufacturing of a product is not related to the procurement process. - Buying supplies from only one country does not necessarily reflect 'single source' procurement. - A contract with only one specific clause does not define the concept of 'single source' in the procurement context.