FAC C PROCTORED EXAM SCRIPT
COMPLETE QUESTIONS AND CORRECT
ANSWERS WITH ACCURATE RATIONALES
GRADED A+
⩥ What are incentive contracts designed to do?
Answer: Motivate contractor efforts that might not otherwise be
emphasized.
⩥ What is the price strategy called when a contractor submits an offer
below anticipated costs?
Answer: Buying in.
⩥ Is government business required to be conducted with complete
impartiality?
Answer: True.
⩥ Can contractor bid or proposal information be disclosed to
unauthorized persons?
Answer: False.
⩥ Are federal employees allowed to accept gifts offered because of their
position?
,Answer: False.
⩥ What is a personal conflict of interest?
Answer: A situation where an individual may lack objectivity due to
personal financial interests.
⩥ What are the broad categories of Organizational Conflicts of Interest
(OCI)?
Answer: Unequal Access, Impaired Objectivity, and Biased Ground
Rules.
⩥ What are the three basic approaches to dealing with OCI issues?
Answer: Avoid, neutralize, and mitigate.
⩥ What does the vision of the Federal Acquisition System consist of?
Answer: Delivering best-value products and services timely while
maintaining public trust.
⩥ What does contracting lifecycle cost consist of?
Answer: Acquisition cost, supporting cost, disposal cost, and operating
cost.
⩥ When should market research be conducted?
, Answer: On an ongoing basis and appropriate to the circumstances.
⩥ Who is authorized to award, change, or terminate a contract?
Answer: Contracting Officer.
⩥ What is the purpose of post-award orientation?
Answer: To achieve a clear and mutual understanding of all contract
requirements.
⩥ What authority is legally binding in government contracting?
Answer: Actual authority.
⩥ Is each authority delegable unless specifically stated otherwise?
Answer: False.
⩥ What are essential elements of a contract?
Answer: Capacity, consideration, mutual assent, and lawful purpose.
⩥ Is a contract defined as a mutually binding legal relationship?
Answer: True.
⩥ Can market research be both strategic and tactical?
COMPLETE QUESTIONS AND CORRECT
ANSWERS WITH ACCURATE RATIONALES
GRADED A+
⩥ What are incentive contracts designed to do?
Answer: Motivate contractor efforts that might not otherwise be
emphasized.
⩥ What is the price strategy called when a contractor submits an offer
below anticipated costs?
Answer: Buying in.
⩥ Is government business required to be conducted with complete
impartiality?
Answer: True.
⩥ Can contractor bid or proposal information be disclosed to
unauthorized persons?
Answer: False.
⩥ Are federal employees allowed to accept gifts offered because of their
position?
,Answer: False.
⩥ What is a personal conflict of interest?
Answer: A situation where an individual may lack objectivity due to
personal financial interests.
⩥ What are the broad categories of Organizational Conflicts of Interest
(OCI)?
Answer: Unequal Access, Impaired Objectivity, and Biased Ground
Rules.
⩥ What are the three basic approaches to dealing with OCI issues?
Answer: Avoid, neutralize, and mitigate.
⩥ What does the vision of the Federal Acquisition System consist of?
Answer: Delivering best-value products and services timely while
maintaining public trust.
⩥ What does contracting lifecycle cost consist of?
Answer: Acquisition cost, supporting cost, disposal cost, and operating
cost.
⩥ When should market research be conducted?
, Answer: On an ongoing basis and appropriate to the circumstances.
⩥ Who is authorized to award, change, or terminate a contract?
Answer: Contracting Officer.
⩥ What is the purpose of post-award orientation?
Answer: To achieve a clear and mutual understanding of all contract
requirements.
⩥ What authority is legally binding in government contracting?
Answer: Actual authority.
⩥ Is each authority delegable unless specifically stated otherwise?
Answer: False.
⩥ What are essential elements of a contract?
Answer: Capacity, consideration, mutual assent, and lawful purpose.
⩥ Is a contract defined as a mutually binding legal relationship?
Answer: True.
⩥ Can market research be both strategic and tactical?
