Question One: Choose the correct answer from a, b, c and d for each of the following: YOU CAN CHOOSE MORE THAN ONE ANSWER! 1. All of the following are benefits of reverse auctions to contractors except: a) Convenience of bidding anywhere. b) An opportunity to submit more than one bid price. c) Easy comparison of bids. d) Ease of access to project information. 2. Advertising the proposed project, submitting offers and bid evaluation' are steps involved in: a) Open bidding. b) Direct negotiation. c) Reverse auction. d) Closed bidding. 3. All of the following are benefits of reverse auctions to owners except: a) Retaining control over specifications. b) Increase competitiveness. c) Ease of communication. d) Time benefits. 4. Which of the following is a disadvantage of a closed tendering procedure? a) The tender process generally eliminates the opportunity for negotiation. b) The detailed design must be finalized before tender documents can be prepared. c) The tender process is time consuming. d) None of the above. 5. Which of the following is a benefit for both owner and contractor in using reverse auctions: a) Provide platform to develop specifications. b) The owner does not pre-qualify contractors. c) No contract terms and conditions are required. d) None of the above