UNIT 4|CON 1200|Unit 4 Quiz: Developing an effective Contract Strategy|Latest Updated A+ Score Guide

CON 1200 Unit 4 Quiz: Developing an effective
Contract Strategy
1. Which one of the following contract types is considered an incentive type
contract?

Firm-Fixed Price

Cost Plus Award Fee Contract
Feedback:Correct, see FAR 16.401(e) and FAR 16.405-2. See student slide
102.

Time and Material Contract

Cost Contract




Correct4/4 Points

2. Which of the following statements correctly identifies when an indefinite-delivery
contract is appropriate to use?

When uncertainties involved in contractor performance do not permit costs
to be estimated.

When the specifications/work statement is clearly defined.

When the exact times and/or quantities of future deliveries are not known at time
of award.
Feedback:Correct, see FAR 16.501-2(a). See student slides 13 and 14.

, When it is possible to estimate accurately the extent of and duration of the
work.




Correct4/4 Points

3. Which one of the following is a characteristic of cost reimbursable type
contracts?

Profit is not limited.

Requires maximum government surveillance.
Feedback:Correct, see FAR 16.301-3(a)(4). See student slide 9.

The risk to the contractor is high.

The contractor shall deliver or risk default.
Correct4/4 Points

4. Contracting may employ simplified acquisition procedures for acquisitions of
commercial items not exceeding:

$7,500,000
Feedback:Correct, see FAR 13.500(a) . See student slides 34 through 37.

$250,000

$1,000,000

$2,500




Correct4/4 Points