COR 2 Test Prep | Questions and Answers 100%
Verified
/. What does it mean by "an agent of the Government has only the actual authority, not
apparent authority? - Answer-Government representative can not legally commit the
Government beyond the limits of his authority.
/.Who usually has actual authority in Government contracting? - Answer-Contracting
Officer (CO)
/.(p35,36,39) Acquisition planning includes... - Answer-Process where work/effort of all
people/personnel responsible for an acquisition are coordinated and integrated through
a plan.
/."Contract type" identifies which party, Government or contractor, bears what? -
Answer-Liability for performance problems including
1) subquality work,
2) delinquent performance,
3) and cost growth.
/.What is "Performance Based Acquisition" - Answer-Under performance-based
acquisitions, the IRS pays for results, not effort or process, and contractors are free to
determine the best and most cost effective ways to fulfill the need. Performance-based
acquisitions also reduce unnecessary contract administration costs by trending away
from cost-reimbursement and level-of-effort contracts to fixed price, results oriented
contracts.
/.What is "Sources Sought Announcement"? - Answer-Identify qualified sources.
/.What is "Request for Information (RFI)"? - Answer-Seeks the industry's expression of
interest, current commercial capabilities, and requirement feasibility.
/.What is "Request for Comment (RFC)"? - Answer-Invites industry feedback on a draft
work statement or solicitation
/.What are the two major families of contract type? - Answer-1) Fixed price contract and
2)
/.What is "cost reimbursement (CR) contract"? - Answer-cost reimbursement (CR)
contract, the contractor pledges to deliver only its
best efforts to perform to the contract's requirements. Short of contractor fraud, willful
misconduct, abandonment, or refusal to perform, the contractor will escape legal liability
for
Verified
/. What does it mean by "an agent of the Government has only the actual authority, not
apparent authority? - Answer-Government representative can not legally commit the
Government beyond the limits of his authority.
/.Who usually has actual authority in Government contracting? - Answer-Contracting
Officer (CO)
/.(p35,36,39) Acquisition planning includes... - Answer-Process where work/effort of all
people/personnel responsible for an acquisition are coordinated and integrated through
a plan.
/."Contract type" identifies which party, Government or contractor, bears what? -
Answer-Liability for performance problems including
1) subquality work,
2) delinquent performance,
3) and cost growth.
/.What is "Performance Based Acquisition" - Answer-Under performance-based
acquisitions, the IRS pays for results, not effort or process, and contractors are free to
determine the best and most cost effective ways to fulfill the need. Performance-based
acquisitions also reduce unnecessary contract administration costs by trending away
from cost-reimbursement and level-of-effort contracts to fixed price, results oriented
contracts.
/.What is "Sources Sought Announcement"? - Answer-Identify qualified sources.
/.What is "Request for Information (RFI)"? - Answer-Seeks the industry's expression of
interest, current commercial capabilities, and requirement feasibility.
/.What is "Request for Comment (RFC)"? - Answer-Invites industry feedback on a draft
work statement or solicitation
/.What are the two major families of contract type? - Answer-1) Fixed price contract and
2)
/.What is "cost reimbursement (CR) contract"? - Answer-cost reimbursement (CR)
contract, the contractor pledges to deliver only its
best efforts to perform to the contract's requirements. Short of contractor fraud, willful
misconduct, abandonment, or refusal to perform, the contractor will escape legal liability
for
