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CON 3900 CONTRACTING FINAL EXAM | ACCURATE CURRENTLY
TESTING VERSIONS WITH 400 QUESTIONS WITH DETAILED
ANSWERS AND A COMPREHENSIVE EXAM PREP STUDY GUIDE |
ACCURATE FOR GUARANTEED PASS
What does [FAR part 15 Contracting by negotiation] prescribes? - ANSWER-
[FAR part 15] prescribes policies and procedures governing competitive and
noncompetitive negotiated acquisitions
What is a negotiated contract? - ANSWER-A contract awarded using other
than sealed bidding procedures is a negotiated contract
What is contract called when it is awarded using other than sealed bidding
procedures? - ANSWER-A negotiated contract
Commercial product means - ANSWER-- Any product, other than real
property, that is of a type customarily used by the general public or by non-
governmental entities for purposes other than governmental purposes.
- Any product that has been sold, leased, or licensed to the general public.
- Any product that has been offered for sale, lease, or license to the general
public
FAR part 12 does not apply to the acquisition of commercial items: -
ANSWER-- At or below the micro-purchase threshold
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Using the Standard Form 44
- Using the GPC as a method of purchase rather than only as a method of
payment.
- Directly from another Federal agency
FAR part 13 prescribes Simplified Acquisition Procedures in order to: -
ANSWER-- Reduce administrative costs.
- Improve opportunities for small, small disadvantaged, women-owned,
veteran-owned, HUBZone, and service-disabled veteran-owned small
business concerns to obtain a fair proportion of Government contracts.
- Promote efficiency and economy in contracting.
- Avoid unnecessary burdens for agencies and contractors.
Agencies shall use Simplified Acquisition Procedures to the maximum extent
practicable for all purchases of supplies or services not exceeding the
Simplified Acquisition Threshold (including purchases at or below the Micro-
purchase Threshold). - ANSWER-True
Contracting officers shall solicit sealed bids if - ANSWER-1. Time permits the
solicitation, submission, and evaluation of sealed bids.
2. The award will be made on the basis of price and other price-related
factors.
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3. It is not necessary to conduct discussions with the responding offerors
about their bids.
4. There is a reasonable expectation of receiving more than one sealed bid.
IAW FAR part 15, after evaluation of offers the contracting officer may hold
negotiations with offerors in the competitive range, advising each of the
deficiencies in its proposal, and request final proposal revisions. - ANSWER-
True
Contracts resulting from sealed bidding shall be: - ANSWER-- firm-fixed-
price contracts
- firm-fixed-price contracts with economic price adjustment.
The cost-plus-a-percentage-of-cost system of contracting shall not be used
- ANSWER-TRUE
FAR Part 16 Types of Contacts stipulates what about the D&F? - ANSWER-
No contract may be awarded before the execution of any determination and
findings (D&F's)
What are the two broad categories of contracts? - ANSWER-- Fixed Price
- Cost Reimbursement
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Under the Firm-Fixed-Price Contract who carries the full responsibility for the
performance costs and resulting profit (or loss)? - ANSWER-Contractor has
full responsibility
Which contract carries a minimal responsibility, for contractor, for the
performance costs? - ANSWER-Cost-Plus-Fixed-Fee
The basic types of contracts authorized by the FAR may be used in
combination unless otherwise prohibited. - ANSWER-True
What is the "HYBRID" contract? - ANSWER-It is a contract which has both
fixed price and cost type contract line item numbers
When can the "HYBRID" contract be used? - ANSWER-If the said contract
promote the best interests of the Government
Why do Cost-reimbursement types of contracts establish an estimate of total
cost? - ANSWER-For the purpose of obligating funds and establish a ceiling
that the contractor may not exceed (except at its own risk) without the
approval of the contracting officer.
CON 3900 CONTRACTING FINAL EXAM | ACCURATE CURRENTLY
TESTING VERSIONS WITH 400 QUESTIONS WITH DETAILED
ANSWERS AND A COMPREHENSIVE EXAM PREP STUDY GUIDE |
ACCURATE FOR GUARANTEED PASS
What does [FAR part 15 Contracting by negotiation] prescribes? - ANSWER-
[FAR part 15] prescribes policies and procedures governing competitive and
noncompetitive negotiated acquisitions
What is a negotiated contract? - ANSWER-A contract awarded using other
than sealed bidding procedures is a negotiated contract
What is contract called when it is awarded using other than sealed bidding
procedures? - ANSWER-A negotiated contract
Commercial product means - ANSWER-- Any product, other than real
property, that is of a type customarily used by the general public or by non-
governmental entities for purposes other than governmental purposes.
- Any product that has been sold, leased, or licensed to the general public.
- Any product that has been offered for sale, lease, or license to the general
public
FAR part 12 does not apply to the acquisition of commercial items: -
ANSWER-- At or below the micro-purchase threshold
,2|Page
Using the Standard Form 44
- Using the GPC as a method of purchase rather than only as a method of
payment.
- Directly from another Federal agency
FAR part 13 prescribes Simplified Acquisition Procedures in order to: -
ANSWER-- Reduce administrative costs.
- Improve opportunities for small, small disadvantaged, women-owned,
veteran-owned, HUBZone, and service-disabled veteran-owned small
business concerns to obtain a fair proportion of Government contracts.
- Promote efficiency and economy in contracting.
- Avoid unnecessary burdens for agencies and contractors.
Agencies shall use Simplified Acquisition Procedures to the maximum extent
practicable for all purchases of supplies or services not exceeding the
Simplified Acquisition Threshold (including purchases at or below the Micro-
purchase Threshold). - ANSWER-True
Contracting officers shall solicit sealed bids if - ANSWER-1. Time permits the
solicitation, submission, and evaluation of sealed bids.
2. The award will be made on the basis of price and other price-related
factors.
,3|Page
3. It is not necessary to conduct discussions with the responding offerors
about their bids.
4. There is a reasonable expectation of receiving more than one sealed bid.
IAW FAR part 15, after evaluation of offers the contracting officer may hold
negotiations with offerors in the competitive range, advising each of the
deficiencies in its proposal, and request final proposal revisions. - ANSWER-
True
Contracts resulting from sealed bidding shall be: - ANSWER-- firm-fixed-
price contracts
- firm-fixed-price contracts with economic price adjustment.
The cost-plus-a-percentage-of-cost system of contracting shall not be used
- ANSWER-TRUE
FAR Part 16 Types of Contacts stipulates what about the D&F? - ANSWER-
No contract may be awarded before the execution of any determination and
findings (D&F's)
What are the two broad categories of contracts? - ANSWER-- Fixed Price
- Cost Reimbursement
, 4|Page
Under the Firm-Fixed-Price Contract who carries the full responsibility for the
performance costs and resulting profit (or loss)? - ANSWER-Contractor has
full responsibility
Which contract carries a minimal responsibility, for contractor, for the
performance costs? - ANSWER-Cost-Plus-Fixed-Fee
The basic types of contracts authorized by the FAR may be used in
combination unless otherwise prohibited. - ANSWER-True
What is the "HYBRID" contract? - ANSWER-It is a contract which has both
fixed price and cost type contract line item numbers
When can the "HYBRID" contract be used? - ANSWER-If the said contract
promote the best interests of the Government
Why do Cost-reimbursement types of contracts establish an estimate of total
cost? - ANSWER-For the purpose of obligating funds and establish a ceiling
that the contractor may not exceed (except at its own risk) without the
approval of the contracting officer.
