FAC 023 EXAM STUDY QUESTIONS WITH 100%
CORRECT ANSWERS, GRADED A+
True or False? The procedures for buying open market items, as prescribed at
FAR 8.402(f), are not applicable to items
purchased under OLM procedures. Answer - False.
Select the three correct responses. When putting together the acquisition plan,
ordering activities should also consider how
much and what types of Other Direct Costs (ODCs) are going to be needed to
meet the requirement. Which of the following is a type of ODC: Answer -
Ancillary Supplies and Services
Open Market Items
Travel Reimbursements
Select the three correct responses. When preparing an RFQ with OLMs, the
RFQ should state that: Answer - OLMs must be in support of the order
Quoter must identify indirect cost as a fixed amount (if applicable)
OLMs shall not exceed 33 33% of the total cost of the order
, True or False? According to FAR subpart 8.4, ordering activities should place
orders on a "best value" basis. Answer - True.
Select the correct response. Which is not a "best value factor" for Procurement
of Services? Answer - Incapable key personnel
True or False? Order administration focuses on obtaining quality services and
supplies on time and within budget. Answer - True.
True or False? Utilizing a best value determination eliminates the consideration
of price. Answer - False.
Credit towards an agency's socioeconomic goals can be met through the GSA
Multiple Award Schedules Program. Select the correct response. Answer -
True.
Ordering activities cannot require a MAS Schedule contractor to submit a re-
representation of business size at the order
level. Select the correct response Answer - False.
The Multiple Award Schedule (MAS) contract size standard certification is
generally valid for 5 years. Select the correct response. Answer - True.
Contracting Officers may, at their discretion, set-aside Schedule orders or BPAs
for small business concems. Select the correct response. Answer - True.
True or False? All orders under the BPA shall specify a price for the
performance of the tasks identified in the statement of work. True False
Answer - True.
CORRECT ANSWERS, GRADED A+
True or False? The procedures for buying open market items, as prescribed at
FAR 8.402(f), are not applicable to items
purchased under OLM procedures. Answer - False.
Select the three correct responses. When putting together the acquisition plan,
ordering activities should also consider how
much and what types of Other Direct Costs (ODCs) are going to be needed to
meet the requirement. Which of the following is a type of ODC: Answer -
Ancillary Supplies and Services
Open Market Items
Travel Reimbursements
Select the three correct responses. When preparing an RFQ with OLMs, the
RFQ should state that: Answer - OLMs must be in support of the order
Quoter must identify indirect cost as a fixed amount (if applicable)
OLMs shall not exceed 33 33% of the total cost of the order
, True or False? According to FAR subpart 8.4, ordering activities should place
orders on a "best value" basis. Answer - True.
Select the correct response. Which is not a "best value factor" for Procurement
of Services? Answer - Incapable key personnel
True or False? Order administration focuses on obtaining quality services and
supplies on time and within budget. Answer - True.
True or False? Utilizing a best value determination eliminates the consideration
of price. Answer - False.
Credit towards an agency's socioeconomic goals can be met through the GSA
Multiple Award Schedules Program. Select the correct response. Answer -
True.
Ordering activities cannot require a MAS Schedule contractor to submit a re-
representation of business size at the order
level. Select the correct response Answer - False.
The Multiple Award Schedule (MAS) contract size standard certification is
generally valid for 5 years. Select the correct response. Answer - True.
Contracting Officers may, at their discretion, set-aside Schedule orders or BPAs
for small business concems. Select the correct response. Answer - True.
True or False? All orders under the BPA shall specify a price for the
performance of the tasks identified in the statement of work. True False
Answer - True.
