1|Page
FAC-C PROCTORED EXAM BANK 2025/2026 | 800 ACCURATE REAL
EXAM QUESTIONS WITH VERIFIED ANSWERS AND A STUDY GUIDE |
ALL 150 QUESTIONS VERSIONS ARE TAKEN FROM THIS TEST BANK
| GUARANTEED PASS | LATEST UPDATE
When is a time and materials contract appropriate? - ANSWER-When it is
not possible at the time of placing the contract or order to accurately estimate
the extent or duration of the work or to anticipate costs.
What contract type can be used when award is based on price only,
discussions not necessary with offerors and likely will will receive multiple
offerors? - ANSWER-Sealed bidding
What contract format is used for sealed bidding invitation for bids? -
ANSWER-Uniform Contract format (UCF)
What contract method has the 4 pre-requisites of: sufficient time, award
based on price or price-related factors, well-defined specifications, adequate
competition - ANSWER-Sealed Bidding
What contracting method requires technical and price proposals are
separate and holds discussions with offerors in the competitive range? -
ANSWER-Contracting by Negotiation
,2|Page
Are proposal revisions accepted in Contracting by Negotiation? - ANSWER-
Yes, after discussions and before award.
What contracting method uses a Request for Proposal (RFP)? - ANSWER-
Contracting by Negotiation
What contracting method uses Invitation for Bids (IFB)? - ANSWER-Sealed
Bidding
What is the difference in price evaluation between Sealed Bidding and
Contract by Negotiation? - ANSWER-In Sealed Bidding, only price is
considered and bids are opened publicly. In Contract by Negotiations, price
and other factors are considered and proposals are not opened publicly.
A contract awarded using other than sealed bidding procedures is a
__________ contract. - ANSWER-Negotiated
T or F 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-T
,3|Page
If a portion of a contract is material or labor, what type of contract can help
address things a contractor can't control such as fluctuations in material
costs instead of using straight FFP? - ANSWER-Fixed-Price Economic Price
Adjustment Contracts
What are the 3 types of adjustments in Fixed Price contracts with economic
price adjustments? A. Established Prices B. Actual costs of labor or materials
C. costs based on historical prices D. cost index of labor or material -
ANSWER-A B D
What FFP contract is based on contractor effort rather than results? -
ANSWER-Firm-Fixed-Price Level-of-Effort Term Contracts
T or F Incentives in contracts can be used for cost, performance or delivery.
- ANSWER-T (FAR 16)
What are the 2 types of incentive contracts? - ANSWER-fixed price incentive
contract, cost reimbursement incentive contact
A fixed-price contract that provide for the adjustment of profit and
establishment of the final contract price by a formula based on the
relationship of final negotiated total cost to the total target cost. - ANSWER-
fixed price incentive contract
, 4|Page
A cost-reimbursement contract that provides for an initially negotiated fee to
be adjusted later by a formula based on the relationship of total allowable
costs to total target costs. - ANSWER-Cost-Plus-Incentive-Fee Contracts
The contracting process consists of three Contract Life Cycle Phases: -
ANSWER-Pre-award, Award, and Post-award
Which Cntract Life Cycle phase involves all the work performed by both the
buyer (Government or prime contractor) and seller (contractor or
subcontractor) in communicating the buyer's requirements and providing a
solution to those requirements. - ANSWER-Pre-award
The pre-award phase consists of two primary activities: - ANSWER-Develop
solicitation, Develop Offer
What part of the FAR coves closeout of government contracts? - ANSWER-
FAR Part 4.8
Who develops a solicitation? - ANSWER-The government and the buyer
Who prepares an offer? - ANSWER-The contractor and the seller
FAC-C PROCTORED EXAM BANK 2025/2026 | 800 ACCURATE REAL
EXAM QUESTIONS WITH VERIFIED ANSWERS AND A STUDY GUIDE |
ALL 150 QUESTIONS VERSIONS ARE TAKEN FROM THIS TEST BANK
| GUARANTEED PASS | LATEST UPDATE
When is a time and materials contract appropriate? - ANSWER-When it is
not possible at the time of placing the contract or order to accurately estimate
the extent or duration of the work or to anticipate costs.
What contract type can be used when award is based on price only,
discussions not necessary with offerors and likely will will receive multiple
offerors? - ANSWER-Sealed bidding
What contract format is used for sealed bidding invitation for bids? -
ANSWER-Uniform Contract format (UCF)
What contract method has the 4 pre-requisites of: sufficient time, award
based on price or price-related factors, well-defined specifications, adequate
competition - ANSWER-Sealed Bidding
What contracting method requires technical and price proposals are
separate and holds discussions with offerors in the competitive range? -
ANSWER-Contracting by Negotiation
,2|Page
Are proposal revisions accepted in Contracting by Negotiation? - ANSWER-
Yes, after discussions and before award.
What contracting method uses a Request for Proposal (RFP)? - ANSWER-
Contracting by Negotiation
What contracting method uses Invitation for Bids (IFB)? - ANSWER-Sealed
Bidding
What is the difference in price evaluation between Sealed Bidding and
Contract by Negotiation? - ANSWER-In Sealed Bidding, only price is
considered and bids are opened publicly. In Contract by Negotiations, price
and other factors are considered and proposals are not opened publicly.
A contract awarded using other than sealed bidding procedures is a
__________ contract. - ANSWER-Negotiated
T or F 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-T
,3|Page
If a portion of a contract is material or labor, what type of contract can help
address things a contractor can't control such as fluctuations in material
costs instead of using straight FFP? - ANSWER-Fixed-Price Economic Price
Adjustment Contracts
What are the 3 types of adjustments in Fixed Price contracts with economic
price adjustments? A. Established Prices B. Actual costs of labor or materials
C. costs based on historical prices D. cost index of labor or material -
ANSWER-A B D
What FFP contract is based on contractor effort rather than results? -
ANSWER-Firm-Fixed-Price Level-of-Effort Term Contracts
T or F Incentives in contracts can be used for cost, performance or delivery.
- ANSWER-T (FAR 16)
What are the 2 types of incentive contracts? - ANSWER-fixed price incentive
contract, cost reimbursement incentive contact
A fixed-price contract that provide for the adjustment of profit and
establishment of the final contract price by a formula based on the
relationship of final negotiated total cost to the total target cost. - ANSWER-
fixed price incentive contract
, 4|Page
A cost-reimbursement contract that provides for an initially negotiated fee to
be adjusted later by a formula based on the relationship of total allowable
costs to total target costs. - ANSWER-Cost-Plus-Incentive-Fee Contracts
The contracting process consists of three Contract Life Cycle Phases: -
ANSWER-Pre-award, Award, and Post-award
Which Cntract Life Cycle phase involves all the work performed by both the
buyer (Government or prime contractor) and seller (contractor or
subcontractor) in communicating the buyer's requirements and providing a
solution to those requirements. - ANSWER-Pre-award
The pre-award phase consists of two primary activities: - ANSWER-Develop
solicitation, Develop Offer
What part of the FAR coves closeout of government contracts? - ANSWER-
FAR Part 4.8
Who develops a solicitation? - ANSWER-The government and the buyer
Who prepares an offer? - ANSWER-The contractor and the seller
