CON 1200|Unit 7 |Developing an Effective Contract Strategy|100% Verified| Updated Solution

CON 1200 Unit 7: Developing an Effective Contract Strategy


Points: 50/50




Correct 3/3 Points

1. Which one of the following contract types is considered an incentive type
contract?

Time and Material Contract

Cost Contract

Cost Plus Award Fee Contract
Feedback: Correct, see FAR 16.401(e) and FAR 16.405-2. See U07

student slide 105. Firm-Fixed Price




Correct 3/3 Points

2. Which of the following statements correctly identifies when an indefinite-delivery
contract is appropriate to use?

When the specifications/work statement is clearly defined.

When it is possible to estimate accurately the extent of and duration of the
work.

When the exact times and/or quantities of future deliveries are not known at time of
award.
Feedback: Correct, see FAR 16.501-2(a). See U07 student slides 15 and 16.

, When uncertainties involved in contractor performance do not permit costs to
be estimated.

Correct 3/3 Points

3. Which one of the following is a characteristic of cost reimbursable type contracts?


Requires maximum government surveillance.
Feedback: Correct, see FAR 16.301-3(a)(4). See U07 student slide 9.

The contractor shall deliver or risk default.

Profit is not limited.

The risk to the contractor is high.




Correct 3/3 Points

4. Contracting may employ simplified acquisition procedures for acquisitions of
commercial items not exceeding:

$7,500,000
Feedback: Correct, see FAR 13.500(a) . See U07 student slides 34 through 37.

$1,000,000

$250,000

$2,500




Correct 3/3 Points

5. Select the statement that is INCORRECT when it comes to the requirement to use
sealed bidding: