1
FAC 023 EXAM QUESTIONS WITH
CORRECT SOLUTIONS 2026
True or False? When forming a Contractor Team Arrangement in response to a
small business set-aside all team members must meet the socioeconomic status
for the set-aside. - correct-answer - True.
Select the three correct responses. Ordering activities must provide limited
sources justifications when: - correct-answer - An urgent and compelling needs
exists, and following the procedures would result in unacceptable delays
Limiting order to a specific brand name because the products or services are
unique or highly specialized
, 2
New work is a logical follow-on to an original MAS order, provided that the
original order was a competitive Schedule order
True or False? Schedule orders may be awarded on a sole-source or brand-name
basis as required by the order activity. - correct-answer - True.
True or False? For orders up to $750,000 it is required that an Agency senior
procurement executive approves the purchase. - correct-answer - False.
True or False? As required by FAR subpart 4.501, the ordering activity must
publish a notice after placing an order or establishing a BPA exceeding the
Simplified Acquisition Threshold that is supported by a limited sources
justification. - correct-answer - False.
, 3
Select the three correct responses. What processes/procedures are appropriate
for an order exceeding the micro-purchase threshold, but not the Simplified
Acquisition Threshold (SAT) when a Statement of Work is NOT required? - correct-
answer - Survey prices from at least three Schedule contractors
If competition is restricted, ensure the restriction is justified with a Limited
Sources Justification
Complete best value determination
When is a statement of work required for services? Select the correct response. -
correct-answer - When the type of order (i.e.; firm-fixed price, labor-hour) is
specified for the services identified in the SOW
FAC 023 EXAM QUESTIONS WITH
CORRECT SOLUTIONS 2026
True or False? When forming a Contractor Team Arrangement in response to a
small business set-aside all team members must meet the socioeconomic status
for the set-aside. - correct-answer - True.
Select the three correct responses. Ordering activities must provide limited
sources justifications when: - correct-answer - An urgent and compelling needs
exists, and following the procedures would result in unacceptable delays
Limiting order to a specific brand name because the products or services are
unique or highly specialized
, 2
New work is a logical follow-on to an original MAS order, provided that the
original order was a competitive Schedule order
True or False? Schedule orders may be awarded on a sole-source or brand-name
basis as required by the order activity. - correct-answer - True.
True or False? For orders up to $750,000 it is required that an Agency senior
procurement executive approves the purchase. - correct-answer - False.
True or False? As required by FAR subpart 4.501, the ordering activity must
publish a notice after placing an order or establishing a BPA exceeding the
Simplified Acquisition Threshold that is supported by a limited sources
justification. - correct-answer - False.
, 3
Select the three correct responses. What processes/procedures are appropriate
for an order exceeding the micro-purchase threshold, but not the Simplified
Acquisition Threshold (SAT) when a Statement of Work is NOT required? - correct-
answer - Survey prices from at least three Schedule contractors
If competition is restricted, ensure the restriction is justified with a Limited
Sources Justification
Complete best value determination
When is a statement of work required for services? Select the correct response. -
correct-answer - When the type of order (i.e.; firm-fixed price, labor-hour) is
specified for the services identified in the SOW
