CAS-003 · Question #959
Which of the following is the BEST way for a company to begin understanding product-based solutions to mitigate a known risk?
The correct answer is B. RFI. The keyword here is 'begin understanding.' An RFI (Request for Information) is a preliminary document sent to vendors to gather general market information about available products, capabilities, and approaches before any formal procurement process. It is the appropriate first…
Question
Which of the following is the BEST way for a company to begin understanding product-based solutions to mitigate a known risk?
Options
- ARFQ
- BRFI
- COLA
- DMSA
- ERFP
How the community answered
(37 responses)- A8% (3)
- B86% (32)
- C3% (1)
- E3% (1)
Explanation
The keyword here is 'begin understanding.' An RFI (Request for Information) is a preliminary document sent to vendors to gather general market information about available products, capabilities, and approaches before any formal procurement process. It is the appropriate first step when a company wants to understand what solutions exist to address a known risk. An RFQ (Request for Quotation) is used when requirements are already defined and pricing is needed. An RFP (Request for Proposal) is used when requirements are known and vendors are asked to formally propose solutions. An OLA (Operational Level Agreement) is an internal agreement between teams, not a vendor engagement tool. An MSA (Master Service Agreement) is a contract framework for ongoing vendor relationships, not an exploratory tool. RFI is the correct starting point for market intelligence before commitment.
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