CON 1300 EXAM STUDY GUIDE QUESTIONS
WITH CORRECT ANSWERS 2025
What is an offer? -VCORRECT ANSWER -
AVresponse to a solicitation that, if accepted, would bind the offeror to perform the resultant contract.
Does a quotation include specs, technical, and past performance on a quote? - CORRECT ANSWER -
No, that's a proposal (A quote has money, proposal has other stuff in it)
LPTA, Do we have anything we tradeoff in an LPTA? - CORRECT ANSWER -
No, Tradeoff process if you are trading anything off. LPTA, look at if it is yes or no for technically accepta
ble, if yes - get the lowest price
What risk is associated with a contractor not meeting objectives? -VCORRECT ANSWER -
Performance Risk
What is not a Key Risk Element: cost, schedule, subcontracting, performance? - CORRECT ANSWER -
Subcontracting
(Cost, Schedule, and Performance are Key Risk Elements)
True or False:
We use proposal analysis to determine if final price is fair and reasonable? - CORRECT ANSWER -True
If we are performing price analysis, do we compare separate line item prices? - CORRECT ANSWER -
No we don't, that is cost analysis
Is government furnished property a priced related factor? - CORRECT ANSWERV-Yes
What is the price adjustment for HUB Zones? - CORRECT ANSWER -10% price adjustment to all non-
small and non HUBZone businesses.
, When we aren't doing tradeoff, what price do we go with? - CORRECT ANSWER -
Lowest Price Technically Acceptable (LPTA)
When we have certified cost of pricing data, what type of analysis are we going to do? -
CORRECT ANSWER -Cost Analysis
What are the exemptions to Truth in Negotiations Act (TINA)? - CORRECT ANSWER -
Commercial, Competition, and Waiver (Slide 62)
What is direct cost? - CORRECT ANSWER -
Definition: any cost directly identified with a single, final cost objective. (Slide 64) (Material and labor)
What are the steps to using cost analysis? - CORRECT ANSWER -
1. get a good proposal, 2. enlist the help of others, 3. Review the proposal, 4. Model the proposal, 5. Fa
ct-find the proposal, 6. Evaluate the proposal
What is a Price Negotiation memorandum (PNM)? - CORRECT ANSWER -A PNM must be a stand-
alone document that tells the whole story and will pass scrutiny for review/approval of your negotiation
position and subsequent contract award.
What are clarifications? - CORRECT ANSWER -
Limited exchanges between the GovernmentVand offerors that may occur when the Government anticip
ates making an award without discussions.
Can you alter a contractor's price to determine Most Probable Cost (MPC) when evaluating contracts? -
CORRECT ANSWER -Yes, for evaluation purposes only.
Can you use cost realism for fixed price contracts if the requirements are not fully understood? -
CORRECT ANSWER -Yes
What document is used for fair and reasonable? - CORRECT ANSWER -
Price Negotiation Memorandum (PNM)
WITH CORRECT ANSWERS 2025
What is an offer? -VCORRECT ANSWER -
AVresponse to a solicitation that, if accepted, would bind the offeror to perform the resultant contract.
Does a quotation include specs, technical, and past performance on a quote? - CORRECT ANSWER -
No, that's a proposal (A quote has money, proposal has other stuff in it)
LPTA, Do we have anything we tradeoff in an LPTA? - CORRECT ANSWER -
No, Tradeoff process if you are trading anything off. LPTA, look at if it is yes or no for technically accepta
ble, if yes - get the lowest price
What risk is associated with a contractor not meeting objectives? -VCORRECT ANSWER -
Performance Risk
What is not a Key Risk Element: cost, schedule, subcontracting, performance? - CORRECT ANSWER -
Subcontracting
(Cost, Schedule, and Performance are Key Risk Elements)
True or False:
We use proposal analysis to determine if final price is fair and reasonable? - CORRECT ANSWER -True
If we are performing price analysis, do we compare separate line item prices? - CORRECT ANSWER -
No we don't, that is cost analysis
Is government furnished property a priced related factor? - CORRECT ANSWERV-Yes
What is the price adjustment for HUB Zones? - CORRECT ANSWER -10% price adjustment to all non-
small and non HUBZone businesses.
, When we aren't doing tradeoff, what price do we go with? - CORRECT ANSWER -
Lowest Price Technically Acceptable (LPTA)
When we have certified cost of pricing data, what type of analysis are we going to do? -
CORRECT ANSWER -Cost Analysis
What are the exemptions to Truth in Negotiations Act (TINA)? - CORRECT ANSWER -
Commercial, Competition, and Waiver (Slide 62)
What is direct cost? - CORRECT ANSWER -
Definition: any cost directly identified with a single, final cost objective. (Slide 64) (Material and labor)
What are the steps to using cost analysis? - CORRECT ANSWER -
1. get a good proposal, 2. enlist the help of others, 3. Review the proposal, 4. Model the proposal, 5. Fa
ct-find the proposal, 6. Evaluate the proposal
What is a Price Negotiation memorandum (PNM)? - CORRECT ANSWER -A PNM must be a stand-
alone document that tells the whole story and will pass scrutiny for review/approval of your negotiation
position and subsequent contract award.
What are clarifications? - CORRECT ANSWER -
Limited exchanges between the GovernmentVand offerors that may occur when the Government anticip
ates making an award without discussions.
Can you alter a contractor's price to determine Most Probable Cost (MPC) when evaluating contracts? -
CORRECT ANSWER -Yes, for evaluation purposes only.
Can you use cost realism for fixed price contracts if the requirements are not fully understood? -
CORRECT ANSWER -Yes
What document is used for fair and reasonable? - CORRECT ANSWER -
Price Negotiation Memorandum (PNM)
