FAC 023 EXAM PREP QUESTIONS ANSWERS STUDY GUIDE VERIFIED SOLUTION
Question:
● T03.E03a You are the contracting office for a firm-fixed-price purchase order for commercial
supplies with a value of $565,000. Two weeks after delivery and acceptance of the items, the user
complains that the goods are not functioning as expected. You Investigate and determine that the
items are not fully compliant with the specification in the contract. who would bear the cost of
correcting the nonconforming supplies that were accepted by the Government?
Answer:
The Contractor
Question:
● T02.E05b You just made a purchase for supplies in the amount of $22,300. You solicited
quotations orally from four local sources. Which of the following statements is correct regarding
providing notice to the unsuccessful suppliers?
Answer:
Notice to the unsuccessful suppliers will only be given if requested.
Question:
● T02.E04 You are the contracting officer for a requirement for commercial services with and
estimated value of $780,000. Four quotations were received in response to the solicitation and
market pricing is available. Which one of the following statements about the price reasonableness
determination is most appropriate?
Answer:
Market research must be conducted or obtained to support the fair and reasonable determination.
Question:
, ● T03.E02 You are the contracting officer for a firm-fixed-priced services contract valued at
$105,975. Which one of the following statements about closeout is correct?
Answer:
The contract is considered closed once you've received evidence of receipt of service and final
payment.
Question:
● T02.E03a Which one of the following is NOT one of the first steps taken when questions are
received in response to a solicitation using SAP.
Answer:
Reviewing the quotations for responsibility (1 of 3 known answers)
Question:
● T01.E04 You have a requirement for administrative support with an estimated value of
$1,500,000. Market research shows numerous potential offerors that are competitive in terms of
market price quality, and delivery. That list of potential offerors includes 4 small businesses and 8
large businesses.
Answer:
The entire acquisition must be set aside exclusively for small business.
Question:
● T02.E01d You are the contracting officer for a construction requirement with and estimated value
of $20,600. Access to the written solicitation will not be provided in the GPE, and none of the
exceptions are FAR 5.202 apply. Which one of the following correctly describes the requirement for
publicizing this proposed contract action.?
Answer:
Notice of the solicitation, or copy of the solicitation, must be posted in a public place.
Question:
Question:
● T03.E03a You are the contracting office for a firm-fixed-price purchase order for commercial
supplies with a value of $565,000. Two weeks after delivery and acceptance of the items, the user
complains that the goods are not functioning as expected. You Investigate and determine that the
items are not fully compliant with the specification in the contract. who would bear the cost of
correcting the nonconforming supplies that were accepted by the Government?
Answer:
The Contractor
Question:
● T02.E05b You just made a purchase for supplies in the amount of $22,300. You solicited
quotations orally from four local sources. Which of the following statements is correct regarding
providing notice to the unsuccessful suppliers?
Answer:
Notice to the unsuccessful suppliers will only be given if requested.
Question:
● T02.E04 You are the contracting officer for a requirement for commercial services with and
estimated value of $780,000. Four quotations were received in response to the solicitation and
market pricing is available. Which one of the following statements about the price reasonableness
determination is most appropriate?
Answer:
Market research must be conducted or obtained to support the fair and reasonable determination.
Question:
, ● T03.E02 You are the contracting officer for a firm-fixed-priced services contract valued at
$105,975. Which one of the following statements about closeout is correct?
Answer:
The contract is considered closed once you've received evidence of receipt of service and final
payment.
Question:
● T02.E03a Which one of the following is NOT one of the first steps taken when questions are
received in response to a solicitation using SAP.
Answer:
Reviewing the quotations for responsibility (1 of 3 known answers)
Question:
● T01.E04 You have a requirement for administrative support with an estimated value of
$1,500,000. Market research shows numerous potential offerors that are competitive in terms of
market price quality, and delivery. That list of potential offerors includes 4 small businesses and 8
large businesses.
Answer:
The entire acquisition must be set aside exclusively for small business.
Question:
● T02.E01d You are the contracting officer for a construction requirement with and estimated value
of $20,600. Access to the written solicitation will not be provided in the GPE, and none of the
exceptions are FAR 5.202 apply. Which one of the following correctly describes the requirement for
publicizing this proposed contract action.?
Answer:
Notice of the solicitation, or copy of the solicitation, must be posted in a public place.
Question:
