Vendor Management and Procurement Processes ACCISO Practice Questions (Page 10)

Questions 46–50

1. 46application · medium

   A healthcare organization is selecting a cloud-based EHR vendor. The organization must comply with HIPAA and needs to ensure the vendor can support future integration with a planned telehealth platform. The procurement team has narrowed candidates to two vendors with similar costs. What should be the PRIMARY deciding factor in the final selection?

   • AThe vendor's marketing materials highlighting user-friendly interface and positive customer testimonials
   • BThe vendor's ability to sign a Business Associate Agreement (BAA) and provide a published API roadmap
   • CThe vendor's existing customer base in the healthcare sector
   • DThe vendor's willingness to offer a discounted multi-year contract
   Reveal Solution Discussion Select an answer first
2. 47application · medium

   A company has a long-term contract with a software vendor. The vendor has consistently met all SLAs, but the company's business needs have evolved, and they now require additional features that are not in the current contract. What is the BEST approach to maintain a positive vendor relationship while addressing the new requirements?

   • AThreaten to switch to a competitor if the vendor does not provide the features for free
   • BWait until the contract renewal date to discuss the new requirements
   • CInitiate a collaborative discussion with the vendor to explore options for a contract amendment or a new statement of work
   • DIssue a formal complaint to the vendor for not anticipating the company's needs
   Reveal Solution Discussion Select an answer first
4. 48foundation · easy

   In the procurement process, which activity typically occurs after a vendor has been selected but before the contract is formally signed?

   • ANeeds identification
   • BContract negotiation
   • CRequest for proposal (RFP) issuance
   • DVendor performance monitoring
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5. 49application · medium

   A financial services firm is evaluating a new vendor for fraud detection software. The vendor is a startup with innovative technology but has been operating for only two years. The firm's risk team is concerned about the vendor's long-term viability. What is the MOST appropriate action to mitigate this risk during the procurement process?

   • AAsk the vendor to provide a list of its current customers and request references from them
   • BAccept the risk because the software is innovative and the firm's legal team will review the contract later
   • CNegotiate a lower price to compensate for the perceived risk
   • DRequire a contractual clause that grants the firm access to the software's source code in escrow if the vendor ceases operations
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6. 50application · medium · select all that apply

   A company is evaluating a new vendor that will handle its payroll processing. The vendor is based overseas and will have access to employee personal data. Select all the risk assessments the company should perform before signing the contract.

   • AReview the vendor's marketing materials to assess its brand reputation.
   • BVerify that the vendor has appropriate international data transfer mechanisms in place.
   • CCheck the vendor's employee satisfaction surveys.
   • DEvaluate the vendor's security controls and compliance with relevant data protection regulations.
   • EAssess the vendor's financial stability to ensure it can remain in business for the contract term.
   Check answers Discussion Select an answer first