L3ABR6C031 Contracting Apprentice Block 2 exam

L3ABR6C031 Contracting Apprentice Block
2 exam


☆7A-123.) Which FAR Part dictates how the federal government conducts market
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research? - answer-FAR Part 10, Market Research
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☆7A-123.) What is "market research" IAW FAR Subpart 2.101? - answer-Market
c c c c c c c c c c


research is "collecting and analyzing information about capabilities within the market to
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satisfy agency needs"
c c c




☆7A-123.) How shall market research be conducted according to FAR Subpart 10.001?
c c c c c c c c c c c


- answer-1.) Appropriate to the circumstances
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2.)Before developing new requirements c c c




3.) On an ongoing basis
c c c c




4.) Over the SAT - before soliciting offers
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5.) Below the SAT - before soliciting offers when adequate information is not available
c c c c c c c c c c c c c


and the circumstances justify the cost
c c c c c c




7A-124.) (True/False) "Tablet" is a sufficient enough description to proceed with market
c c c c c c c c c c c


research. - answer-False. Your "description of need" should include as much context as
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possible to ensure that the government has an idea of what to look for.
c c c c c c c c c c c c c c




☆7A-124.) FAR Subpart 10.002(b)(1) explains that market research will vary depending
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on _________________, _________________, _________________, and
c c c c c


_________________. - answer-1.) urgency
c c c c




2.) estimated dollar value
c c c




3.) complexity
c




4.) and past experiences
c c c




☆7A-124.) What are the four techniques available to perform market research according
c c c c c c c c c c c


to FAR Subpart 10.002(b)(2)? - answer-1.) Contacting knowledgeable individuals in
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government and industry
c c c

, 2.) Review the results of recent market research
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3.) Publish formal request for information
c c c c c




4.) Query the government-wide database of contracts
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☆7A-125.) The FAR requires contracting professionals to do what with market
c c c c c c c c c c


research? - answer-To "use the results of their market research to make acquisition
c c c c c c c c c c c c c


planning decisions."
c c




☆7B-127.) What is the DPAP? - answer-The Defense Procurement and Acquisition
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Policy.
c




☆7B-127.) According to the DPAP, what is strategic sourcing? - answer-Strategic
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sourcing is the collaborative and structured process of critically analyzing an
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organization's spending and using this information to make business decisions.
c c c c c c c c c c




7B-127.) What is supply chain management? - answer-Supply chain management is a
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system involving various functions that come together for complex and large scale
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acquisitions.
c




7B-127.) Name the common functions in the supply chain. - answer-1.) Procurement
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2.) logistics
c




3.) inventory control
c c




4.) product life-cycle management
c c c




5.) demand management
c c




7B-127.) Strategic sourcing is focused on large, complex acquisitions. What is
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operational contracting focused on? - answer-Purchasing, and involves only the
c c c c c c c c c c


procurement function.
c c




7B-128.) How does strategic sourcing benefit contracting professionals? - answer-1.) It
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creates an exponentially more efficient work environment.
c c c c c c c




2.) Strategic sourcing saves both tangible and intangible costs.
c c c c c c c c




7B-128.) What is the difference between tangible and intangible cost? - answer-Tangible
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costs are realized when buying in bulk, thereby reducing individual item price. Intangible
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cost savings are captured alongside the benefit of higher level efficiency. (Time saved is
c c c c c c c c c c c c c c


money saved)
c c