ACQ 101 Module 08 & Exam Contract
Management Questions with correct answers
Which of the following requirements must an offer meet? (Select all that apply) -
VERIFIED ANSWER✔✔-*Be clear and unambiguous*
*Have complete terms*
*Be communicated*
*Express intent*
Select the element of contract that best fits the definition of "something of equal
value must be exchanged": - VERIFIED ANSWER✔✔-*Consideration*
A mutual assent is when a contract is formed by acceptance of an offer. -
VERIFIED ANSWER✔✔-*True*
In order to be legally bound to a contract, a party must have the capacity to
understand and appreciate the terms of the contract. Which of the essential
elements best fits this description? - VERIFIED ANSWER✔✔-*Competency*
Select each statement that is accurate when binding a contract.(Select all that
apply) - VERIFIED ANSWER✔✔-*Common law requires each party to provide
consideration with a value of greater than one dollar*
*A contract must be for legal purposes only in order to be binding*
*The element that converts any agreement into a true contract is "intention to
create legal relations"*
, Which of the following Government agencies are exempt from complying with the
FAR? (Select all that apply) - VERIFIED ANSWER✔✔-*Federal Aviation
Administration*
*U.S. Mint*
What are the reasons that F&O competition after exclusion of sources may be
used? (Select all that apply) - VERIFIED ANSWER✔✔-*Establishing or maintaining
alternate sources*
*Fulfilling the SBA objectives for its Section 8(a) Program*
*Setting aside work for small business concerns*
Select the tasks that fall under the authority of the Contracting Officer (CO).
(Select all that apply) - VERIFIED ANSWER✔✔-*Administer contracts*
*Ensure acquisition complies with CICA*
*Terminate contracts*
Which of the following positions has the authority to enter into, administer,
and/or terminate contracts and make related determinations and findings? -
VERIFIED ANSWER✔✔-*CO*
Which of the following are examples of a non-materiel solutions? (Select all that
apply.) - VERIFIED ANSWER✔✔-*Change in rulemaking*
*Alternative use of existing assets*
Which of the following statements are correct? (Select all that apply) - VERIFIED
ANSWER✔✔-*The SOW establishes and defines all non-specification
requirements for contractors' efforts either directly or with the use of specific
cited documents.*
Management Questions with correct answers
Which of the following requirements must an offer meet? (Select all that apply) -
VERIFIED ANSWER✔✔-*Be clear and unambiguous*
*Have complete terms*
*Be communicated*
*Express intent*
Select the element of contract that best fits the definition of "something of equal
value must be exchanged": - VERIFIED ANSWER✔✔-*Consideration*
A mutual assent is when a contract is formed by acceptance of an offer. -
VERIFIED ANSWER✔✔-*True*
In order to be legally bound to a contract, a party must have the capacity to
understand and appreciate the terms of the contract. Which of the essential
elements best fits this description? - VERIFIED ANSWER✔✔-*Competency*
Select each statement that is accurate when binding a contract.(Select all that
apply) - VERIFIED ANSWER✔✔-*Common law requires each party to provide
consideration with a value of greater than one dollar*
*A contract must be for legal purposes only in order to be binding*
*The element that converts any agreement into a true contract is "intention to
create legal relations"*
, Which of the following Government agencies are exempt from complying with the
FAR? (Select all that apply) - VERIFIED ANSWER✔✔-*Federal Aviation
Administration*
*U.S. Mint*
What are the reasons that F&O competition after exclusion of sources may be
used? (Select all that apply) - VERIFIED ANSWER✔✔-*Establishing or maintaining
alternate sources*
*Fulfilling the SBA objectives for its Section 8(a) Program*
*Setting aside work for small business concerns*
Select the tasks that fall under the authority of the Contracting Officer (CO).
(Select all that apply) - VERIFIED ANSWER✔✔-*Administer contracts*
*Ensure acquisition complies with CICA*
*Terminate contracts*
Which of the following positions has the authority to enter into, administer,
and/or terminate contracts and make related determinations and findings? -
VERIFIED ANSWER✔✔-*CO*
Which of the following are examples of a non-materiel solutions? (Select all that
apply.) - VERIFIED ANSWER✔✔-*Change in rulemaking*
*Alternative use of existing assets*
Which of the following statements are correct? (Select all that apply) - VERIFIED
ANSWER✔✔-*The SOW establishes and defines all non-specification
requirements for contractors' efforts either directly or with the use of specific
cited documents.*
