CON 3990V- Pre practice Test 3
Questions
A contractor assumes the greatest cost risk in a which type of contract? - ANS-Firm Fixed
Price Contracts
A contractor assumes the least cost risk in which type of contract? - ANS-Cost Plus Fixed
Fee Contracts
A PNM shall only include the purpose of the negotiation.
True
False - ANS-False
A price is based on adequate price competition when...
(select all that apply)
In receipt of offers from two or more responsible offerors
Only one offer was received, but the action was solicited as full and open competition.
Price is found to be unreasonable
In receipt of offers from two or more offerors competing independently - ANS-In receipt of
offers from two or more responsible offerors
In receipt of offers from two or more offerors competing independently
A protest is a ____________ ____________ by an ______________ ____________ -
ANS-written objection by an interested party
According to FAR 2.101, cost or pricing data...
Is factual
Includes all facts that may or may not affect price negotiations
Is judgmental
May not be verifiable - ANS-Is factual
An interested party is an _____________ or _____________ offeror - ANS-actual or
prospective
Before burdening contractors with providing data, where shall the contracting officer first
obtain data to determine a fair and reasonable price? - ANS-The Government or other
secondary sources
Clarifications allow an offeror the opportunity to clarify certain aspects of their proposal.
, True
False - ANS-True
Communications may be conducted to enhance Government understanding of proposals;
allow reasonable interpretation of the proposal; or facilitate the Government's evaluation
process.
True
False - ANS-True
Cost analysis is used... (select the 2 correct answers):
To evaluate the reasonableness of individual cost elements
When certified cost or pricing data are not required.
To evaluate data other than certified cost or pricing data to determine cost reasonableness
or cost realism
To verify that the overall price offered is fair and reasonable. - ANS-To evaluate the
reasonableness of individual cost elements
To evaluate data other than certified cost or pricing data to determine cost reasonableness
or cost realism
Discussions take place after the establishment of the competitive range.
True
False - ANS-True
How many protest venues are there? - ANS-3
Agency
The government Accountability Office (GAO)
The U.S. Court of Federal Claims
If a contracting officer denies a contractor's claim in a Contracting Officer's Final Decision,
the contractor must continue contract performance.
True
False - ANS-True
If a Contracting Officer receives an agency protest 8 days after contract award, what must
the Contracting Officer do?
Immediately suspend performance
Get a second opinion
Allow performance to proceed - ANS-Immediately suspend performance
Questions
A contractor assumes the greatest cost risk in a which type of contract? - ANS-Firm Fixed
Price Contracts
A contractor assumes the least cost risk in which type of contract? - ANS-Cost Plus Fixed
Fee Contracts
A PNM shall only include the purpose of the negotiation.
True
False - ANS-False
A price is based on adequate price competition when...
(select all that apply)
In receipt of offers from two or more responsible offerors
Only one offer was received, but the action was solicited as full and open competition.
Price is found to be unreasonable
In receipt of offers from two or more offerors competing independently - ANS-In receipt of
offers from two or more responsible offerors
In receipt of offers from two or more offerors competing independently
A protest is a ____________ ____________ by an ______________ ____________ -
ANS-written objection by an interested party
According to FAR 2.101, cost or pricing data...
Is factual
Includes all facts that may or may not affect price negotiations
Is judgmental
May not be verifiable - ANS-Is factual
An interested party is an _____________ or _____________ offeror - ANS-actual or
prospective
Before burdening contractors with providing data, where shall the contracting officer first
obtain data to determine a fair and reasonable price? - ANS-The Government or other
secondary sources
Clarifications allow an offeror the opportunity to clarify certain aspects of their proposal.
, True
False - ANS-True
Communications may be conducted to enhance Government understanding of proposals;
allow reasonable interpretation of the proposal; or facilitate the Government's evaluation
process.
True
False - ANS-True
Cost analysis is used... (select the 2 correct answers):
To evaluate the reasonableness of individual cost elements
When certified cost or pricing data are not required.
To evaluate data other than certified cost or pricing data to determine cost reasonableness
or cost realism
To verify that the overall price offered is fair and reasonable. - ANS-To evaluate the
reasonableness of individual cost elements
To evaluate data other than certified cost or pricing data to determine cost reasonableness
or cost realism
Discussions take place after the establishment of the competitive range.
True
False - ANS-True
How many protest venues are there? - ANS-3
Agency
The government Accountability Office (GAO)
The U.S. Court of Federal Claims
If a contracting officer denies a contractor's claim in a Contracting Officer's Final Decision,
the contractor must continue contract performance.
True
False - ANS-True
If a Contracting Officer receives an agency protest 8 days after contract award, what must
the Contracting Officer do?
Immediately suspend performance
Get a second opinion
Allow performance to proceed - ANS-Immediately suspend performance
