Con 3990 prep Exam Questions With 100% Correct Answers

What are the three contracting life cycle phases - Answer Pre-award, Award, and Postaward Define the pre-award phase - Answer Invokes all work performed by both the buyer (Gov't or Prime Contractor) and seller (contractor or sub) in communicating the buyer's requirements and providing a solution to those requirements What typically starts before the contracting process? - Answer Requirement definition, budgeting/funding process, and acquisition planning. The pre-award phase consist of what two primary activities? - Answer Develop Solicitation (for our purpose, this is done by the Gov't or the contractor) and develop offer (this is done by the contractor or sub) In planning the solicitation - Answer The buying activity must assess the need and analyze the requirement as well make sure that contract outcomes will be measurable and properly incentivized. They buying activity must also verify availability of funds. Buying activities must also - Answer Conduct market research to identify potential suppliers, evaluate if the requirement is achievable, and perform any pre-offer conferences or communication Market Research happens in what phases of contracting life cycle? - Answer Is a process continuous through out all phases of the contracting life cycle In planning the solicitation... - Answer Buying activities should analyze risk that can take the form of performing make or by decisions, conducting a supply or service determination, and understanding the required schedule or needs of the customer. Before finalizing the solicitation... - Answer The contract manager will participate in choosing a contract type and contracting method, help determine applicable regulations, and assist in building an evaluation strategy for offers. In response to a solicitation... - Answer The seller will submit an offer The sellers offer should include - Answer The offer must've line with the offerers overall sales plan and overall risk category. determining which parts of the contractperformance the offer will need assistance from partners, subcontractors, or vendors. Communicate with the buying activity to make sure all information has been provided What is the award phase? - Answer The second contract life cycle phase is award. The word phase involves all work performed by both the buyer and seller that produces an award contract. What is one activity in the ward phase? - Answer Form the contract When the government receives offers they must analyze proposals for what? - Answer In terms of risk, review for price of reasonableness, and document the results of the analysis. Based on the analysis of proposal, to plan for negotiations the government may ask for? - Answer Clarification from offers and then develop negotiation objectives. The offer will respond to the request for clarification and prepare for negotiations as well. True or false; the buyer and seller may exchange ideas or have discussions, they may be informal or highly structured as needed during the award phase - Answer True After reviewing proposals and analyzing the proposals and having exchanges with the sellers, the buyer will then? - Answer Select a source What is the third contract life cycle phase? - Answer Post award phase What are the two primary elements of the post ward phase? - Answer Perform contract and Close Contract What is involved in the post award phase? - Answer Involves all the work performed by both the buyer and seller during contract performance, to include changes to the contract, contract close out, and sometimes termination of a contract. What happens during post award phase activity perform the contract? - Answer During this phase, we are monitoring risk in assessing its impact on contract performance ensuring compliance with one contractual terms and conditions and two contract technical requirements during contract performance up to contract close out or termination True or False: Both the buyer and seller must administer the contract? - Answer True What is an important focus during post-award contract administration? - Answer Quality of contract performance What is included in quality of contract performance? - Answer This quality includes schedules, cost, and successful delivery of services or items.Who is responsible for quality? - Answer The seller has the responsibility for quality, however the buyer must have proper oversight to protect the interest of stake holders Most sellers have a supply chain of support for their contract performance, they are know as? - Answer Sub contractors How can changes contract arrangements during contract performance be made? - Answer Buyer and seller negotiations for a contract modification or a unilateral modification of provisions are met. Sometimes, contract termination will be needed. What is Contract close out? - Answer The process of verifying all the requirements of the contract are satisfied, settling unresolved matters, and reconciling the contract to make final payment. What tasks are included in contract close out? - Answer Validation of completion of contract requirements, disposition of property, settling sub-contractor issues, funds reconciliation and final payment. KO stands for? - Answer Contracting Officer KO plays what role throughout contracting life cycle? - Answer Requirements identification through contract close-out, the KO's responsibilities change and evolve from phase to phase. Acquisition definition - Answer The acquiring by contract with appropriate funds of supplies or services by and for the use of federal government through the purchase or lease, whether the supplies or services are already in existence or must be created, develop, demonstrated, and evaluated Acquisition team members definition - Answer Consing of all participants and government acquisition including not only representatives of the technical, supply, emperment communities but also customers they serve, and the contractors who provide the products and services KO's role on the acq team is to? - Answer The contracting officer must have the authority to the maximum extent practical and consistent with law, to determine the application of rules, regulations, and policies, on the specific contract What is required for KO appointments? - Answer Requires a pointing officials, selecting contracting officers, to consider the complexity and dollar value of the acquisitions to be assigned and the candidates experience, training, education, business acumen, judgment, character, and reputation What is the Contracting officer responsible for? - Answer Ensuring performance of all necessary actions for effecti