CON 3990 UPDATED FINAL EXAMS QUESTIONS AND
ANSWERS FIRM A+
✔✔What are the basic elements required for a contract to be legally binding (4) -
✔✔mutual assent (valid offer and acceptance)
adequate consideration
capacity
legality
✔✔What is implied actual authority? - ✔✔authority to do what is usual, customary and
necessary to accomplish the action
Implied actual authority differs from express actual authority in that no express
agreement is executed
(e.g., when an individual is assigned a task to accomplish but the minor details are not
spelled out either verbally or in writing, this is an example of implied actual authority).
✔✔What is express actual authority? - ✔✔is created by explicit language, either in
writing or verbal.
It should be noted that the spoken word is generally as binding as the written word;
however it is sometimes more difficult to prove.
✔✔What is apparent authority? - ✔✔Apparent authority exists when someone
reasonably believes an individual has the authority to act on behalf of the Government,
based on his or her conduct, even though that individual has no actual authority to bind
the Government.
✔✔What is consideration? - ✔✔Something of value that a promisor receives from the
promisee in return for his or her offer.
aka the reason a party would seek to enter into a contract Can be money, action, non
action or property
✔✔A contract is not enforceable without - ✔✔consideration
✔✔What is lawful purpose? - ✔✔A contract is unenforceable if any term is contrary to
public policy / against the law
✔✔What is capacity? - ✔✔the ability to understand and appreciate the terms of the
contract
✔✔what is mutual assent? - ✔✔when each party makes a promise or begins to render
performance
offer placed by one party and acceptance by the other
✔✔What is a commercial product? - ✔✔a product that is used by the general public for
purposes other than governmental purposes or
,a product evolved from the above which is not yet available to the market,
or a product like the above, slightly modified for gov use or
a nondevelopmental item
✔✔What is a commercial service? - ✔✔includes installation, maintenance, repair,
training if procured in support of commercial product and/or are provided to the general
public as well
✔✔What is a commercially available off the shelf (COTS) item? - ✔✔supply that is a
commercial product, sold in substantial quantities, offered to the Gov without any
modifications needed
✔✔What exchanges can take place in the pre award phase between the KTR and Gov?
- ✔✔Clarifications and communications and discussions
✔✔what activities are completed in the pre award phase? - ✔✔Develop Solicitation and
Develop Offer
✔✔What considerations are needed when planning a solicitation? - ✔✔What is the
need/requirement
Are the outcomes measurable?
Are the outcomes properly incentivized
Are their available funds?
✔✔Are there any sources that should be excluded when the agency is describing its
needs in a Solicitation - ✔✔No, we want full and open competition
✔✔What risks should be analyze when planning a soliciation? - ✔✔Make or buy
descision
conducting a supply or services determination
what is the schedule/need of the customer
is intellectual property needed?
✔✔Unnecessarily short delivery/performance schedules should be avoided when
creating a solicitation because they can - ✔✔restrict competition
inconsistent with SB policies
may result in higher prices
✔✔What is the Gov policy on acquiring tech data for commercial items? - ✔✔only
acquire data that is customarily provided to the public unless it is tech data relating to
form, fit, or function or is required for repair and maintenance, describe modifications
made by Gov
, ✔✔What is the Gov policy on acquiring tech date for non-commercial items? - ✔✔Only
acquire data to satisfy agency needs
✔✔What shall the soliciation include regarding tech data? - ✔✔the tech date to be
delivered under contract and schedule
establish procedure for determining acceptability of data
establish separate CLINs for tech data to be delivered (priced separately)
require offerors to identify tech data to be furnished with restrictions
✔✔Generally speaking, which contracts utilize cost type vs fp type contracts? - ✔✔Cost
type is for unknown parameters (R&D, no definite schedule or quantity)
FP type is for known parameters and costs (production)
✔✔An offeror builds an offer based off of its own - ✔✔business strategy and operating
procedures even though they are aware the Gov must follow laws and regulations
✔✔The post award phase is comprised of (2) - ✔✔Perform contract
Close contract
✔✔Who is responsible for administering the contract after award? - ✔✔The Gov and the
Contractor
✔✔What is the main area of focus during the contract administration phase? -
✔✔quality of contract performance
✔✔What does quality include? - ✔✔schedule
cost
successful delivery of services or items
✔✔Who is responsible for quality? - ✔✔the seller, contractor
✔✔Why should the buyer provide quality oversight when it is the contractors
responsibility to ensure quality? - ✔✔The buyer has a responsibility to the stakeholders
to protect their interest
✔✔Should the contracting system focus on risk management or risk performance? -
✔✔Risk management
✔✔How should contractors be treated? - ✔✔fairly and impartially but need not be
treated the same
✔✔In terms of the Federal Acquisition Regulation System, the actions of each member
of the contracts team must reflect - ✔✔integrity, fairness, and openness
ANSWERS FIRM A+
✔✔What are the basic elements required for a contract to be legally binding (4) -
✔✔mutual assent (valid offer and acceptance)
adequate consideration
capacity
legality
✔✔What is implied actual authority? - ✔✔authority to do what is usual, customary and
necessary to accomplish the action
Implied actual authority differs from express actual authority in that no express
agreement is executed
(e.g., when an individual is assigned a task to accomplish but the minor details are not
spelled out either verbally or in writing, this is an example of implied actual authority).
✔✔What is express actual authority? - ✔✔is created by explicit language, either in
writing or verbal.
It should be noted that the spoken word is generally as binding as the written word;
however it is sometimes more difficult to prove.
✔✔What is apparent authority? - ✔✔Apparent authority exists when someone
reasonably believes an individual has the authority to act on behalf of the Government,
based on his or her conduct, even though that individual has no actual authority to bind
the Government.
✔✔What is consideration? - ✔✔Something of value that a promisor receives from the
promisee in return for his or her offer.
aka the reason a party would seek to enter into a contract Can be money, action, non
action or property
✔✔A contract is not enforceable without - ✔✔consideration
✔✔What is lawful purpose? - ✔✔A contract is unenforceable if any term is contrary to
public policy / against the law
✔✔What is capacity? - ✔✔the ability to understand and appreciate the terms of the
contract
✔✔what is mutual assent? - ✔✔when each party makes a promise or begins to render
performance
offer placed by one party and acceptance by the other
✔✔What is a commercial product? - ✔✔a product that is used by the general public for
purposes other than governmental purposes or
,a product evolved from the above which is not yet available to the market,
or a product like the above, slightly modified for gov use or
a nondevelopmental item
✔✔What is a commercial service? - ✔✔includes installation, maintenance, repair,
training if procured in support of commercial product and/or are provided to the general
public as well
✔✔What is a commercially available off the shelf (COTS) item? - ✔✔supply that is a
commercial product, sold in substantial quantities, offered to the Gov without any
modifications needed
✔✔What exchanges can take place in the pre award phase between the KTR and Gov?
- ✔✔Clarifications and communications and discussions
✔✔what activities are completed in the pre award phase? - ✔✔Develop Solicitation and
Develop Offer
✔✔What considerations are needed when planning a solicitation? - ✔✔What is the
need/requirement
Are the outcomes measurable?
Are the outcomes properly incentivized
Are their available funds?
✔✔Are there any sources that should be excluded when the agency is describing its
needs in a Solicitation - ✔✔No, we want full and open competition
✔✔What risks should be analyze when planning a soliciation? - ✔✔Make or buy
descision
conducting a supply or services determination
what is the schedule/need of the customer
is intellectual property needed?
✔✔Unnecessarily short delivery/performance schedules should be avoided when
creating a solicitation because they can - ✔✔restrict competition
inconsistent with SB policies
may result in higher prices
✔✔What is the Gov policy on acquiring tech data for commercial items? - ✔✔only
acquire data that is customarily provided to the public unless it is tech data relating to
form, fit, or function or is required for repair and maintenance, describe modifications
made by Gov
, ✔✔What is the Gov policy on acquiring tech date for non-commercial items? - ✔✔Only
acquire data to satisfy agency needs
✔✔What shall the soliciation include regarding tech data? - ✔✔the tech date to be
delivered under contract and schedule
establish procedure for determining acceptability of data
establish separate CLINs for tech data to be delivered (priced separately)
require offerors to identify tech data to be furnished with restrictions
✔✔Generally speaking, which contracts utilize cost type vs fp type contracts? - ✔✔Cost
type is for unknown parameters (R&D, no definite schedule or quantity)
FP type is for known parameters and costs (production)
✔✔An offeror builds an offer based off of its own - ✔✔business strategy and operating
procedures even though they are aware the Gov must follow laws and regulations
✔✔The post award phase is comprised of (2) - ✔✔Perform contract
Close contract
✔✔Who is responsible for administering the contract after award? - ✔✔The Gov and the
Contractor
✔✔What is the main area of focus during the contract administration phase? -
✔✔quality of contract performance
✔✔What does quality include? - ✔✔schedule
cost
successful delivery of services or items
✔✔Who is responsible for quality? - ✔✔the seller, contractor
✔✔Why should the buyer provide quality oversight when it is the contractors
responsibility to ensure quality? - ✔✔The buyer has a responsibility to the stakeholders
to protect their interest
✔✔Should the contracting system focus on risk management or risk performance? -
✔✔Risk management
✔✔How should contractors be treated? - ✔✔fairly and impartially but need not be
treated the same
✔✔In terms of the Federal Acquisition Regulation System, the actions of each member
of the contracts team must reflect - ✔✔integrity, fairness, and openness
