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2025/2026 Complete 100 Questions And Correct
Answers (Verified Answers)|Already Graded A+
1. Implied authority occurs when?
a) Inferences and reasonable deductions based on conduct
are made.
b) Explicit language grants authority;
c) Codified language is used to delegate responsibility and
authority to a given party;
d)The illusion of authority is allowedANSWERS a) Inferences and
reasonable deductions based on conduct are made.
2. Apparent authority occurs when?
a)An individual functions in the capacity that leads others
to believe he/she is an authorized agent of the principle.
b) Explicit language grants authority.
c) A logical extension of expression authority conferred
upon a given party.
d) Codified language delegating responsibility and authority
to a given party.ANSWERS a) An individual functions in the capacity that
leads others to believe he/she is an authorized agent of the principle.
3. In 1890, Congress passed this Antitrust Act. It has been
,the linchpin of an- titrust law. In Section 1 of this Act, it
statesANSWERS Every contract, combination in the form of
trust or otherwise, or conspiracy, in restraint of trade or
commerce among the several States, or with foreign
nations, is declared to be illegal. Every person who
shall make any contract or engage in any combination
or conspiracy hereby declared to be illegal shall be deemed
guilty of a felony, and, on conviction thereof, shall be
punished by fine not exceeding $100,000,000
If a corp., or, if any person, $1,000,000, or by
imprisonment not exceeding 10 years, or by both said
punishments, in the discretion of the court. Section 2 of thi
Act, makes interstate monopolies a felony. This Act
isANSWERS
a) The Clayton Act
b) The Federal Trade Commission Act
c) The Sherman Act
d) The Robinson-Patman Price Discrimination ActANSWERS c)
The Sherman Act
4. Theprocurement officer has noticed several suspicious
pricing patterns and supplier behaviors, including
,identical bids and a lack of bids from some ex- pected
bidders for an open solicitation. On detecting this
suspicous activity, the procurement officer should
immediatelyANSWERS
, a) Alert all suppliers that the solicitation will be canceled
and resolicited
b)Alert their superiors and the antitrust lawyers in the state
attorney general's office
c) Alert the suppliers in question about potential violations
d) Alert the DOJ about potential antitrust violationsANSWERS b)
alert their superiors and the antitrust lawyers in the state attorney general's
oflce
5. Whichof the following procurement laws are not
considered one of the primary sources used in
governmental jurisdictions?
a) Administrative Law
D) Federal Law
c) Common Law
d) Legislative LawANSWERS d) Federal Law
6. Socioeconomic goals, such as "set-asides", can come
with a variety of bene- fits; however, there are also
challenges associated with the use of "set-asides". These
challenges may include which of the followingANSWERS
2025/2026 Complete 100 Questions And Correct
Answers (Verified Answers)|Already Graded A+
1. Implied authority occurs when?
a) Inferences and reasonable deductions based on conduct
are made.
b) Explicit language grants authority;
c) Codified language is used to delegate responsibility and
authority to a given party;
d)The illusion of authority is allowedANSWERS a) Inferences and
reasonable deductions based on conduct are made.
2. Apparent authority occurs when?
a)An individual functions in the capacity that leads others
to believe he/she is an authorized agent of the principle.
b) Explicit language grants authority.
c) A logical extension of expression authority conferred
upon a given party.
d) Codified language delegating responsibility and authority
to a given party.ANSWERS a) An individual functions in the capacity that
leads others to believe he/she is an authorized agent of the principle.
3. In 1890, Congress passed this Antitrust Act. It has been
,the linchpin of an- titrust law. In Section 1 of this Act, it
statesANSWERS Every contract, combination in the form of
trust or otherwise, or conspiracy, in restraint of trade or
commerce among the several States, or with foreign
nations, is declared to be illegal. Every person who
shall make any contract or engage in any combination
or conspiracy hereby declared to be illegal shall be deemed
guilty of a felony, and, on conviction thereof, shall be
punished by fine not exceeding $100,000,000
If a corp., or, if any person, $1,000,000, or by
imprisonment not exceeding 10 years, or by both said
punishments, in the discretion of the court. Section 2 of thi
Act, makes interstate monopolies a felony. This Act
isANSWERS
a) The Clayton Act
b) The Federal Trade Commission Act
c) The Sherman Act
d) The Robinson-Patman Price Discrimination ActANSWERS c)
The Sherman Act
4. Theprocurement officer has noticed several suspicious
pricing patterns and supplier behaviors, including
,identical bids and a lack of bids from some ex- pected
bidders for an open solicitation. On detecting this
suspicous activity, the procurement officer should
immediatelyANSWERS
, a) Alert all suppliers that the solicitation will be canceled
and resolicited
b)Alert their superiors and the antitrust lawyers in the state
attorney general's office
c) Alert the suppliers in question about potential violations
d) Alert the DOJ about potential antitrust violationsANSWERS b)
alert their superiors and the antitrust lawyers in the state attorney general's
oflce
5. Whichof the following procurement laws are not
considered one of the primary sources used in
governmental jurisdictions?
a) Administrative Law
D) Federal Law
c) Common Law
d) Legislative LawANSWERS d) Federal Law
6. Socioeconomic goals, such as "set-asides", can come
with a variety of bene- fits; however, there are also
challenges associated with the use of "set-asides". These
challenges may include which of the followingANSWERS
