CON 1200 EXAM Questions and
Answers Verified Solutions Latest
Update
Question:
If timeliness of performance is critical, what should the government consider using?
Answer:
A liquidated damages clause.
Question:
What are the three 'Methods of Evaluation' listed for FAR Part 15 source selection?
Answer:
Trade-off; LPTA; Highest Technically Rated with a Fair and Reasonable Price.
Question:
When is a Trade-off method typically used?
Answer:
When the requirement is less definitive/more development is required, performance
risk is greater, and non-price factors may dominate.
Question:
When is LPTA typically used?
Answer:
When the requirement is clearly definable, the risk of unsuccessful performance is
minimal, and cost/price is dominant.
, Question:
When is 'Highest Technically Rated with a Fair and Reasonable Price' used?
Answer:
When the acquisition warrants paying any fair and reasonable price for the highest
quality performance.
Question:
When should the acquisition warrant paying a fair price?
Answer:
When it ensures the highest quality performance.
Question:
What are the necessary elements of a solicitation?
Answer:
Introduction; General Information; description of goods/services; minimum vendor
qualifications; minimum standards of a bid/proposal; required elements of a
bid/proposal; contractual terms/conditions; submittal requirements; evaluation criteria.
Question:
What authorized contract types are listed under SAP/RFQ (FAR Part 12/13)?
Answer:
Firm-Fixed-Price (FFP); Time & Materials (T&M); Labor Hour (LH).
Question:
What basis of award options are listed under an RFQ?
Answer:
Lowest price; price and other factors; technical, price, past performance.
Question:
What contract types are authorized under IFB / Sealed Bidding (FAR Part 14)?
Answer:
Firm-Fixed-Price (FFP); Fixed Price with Economic Price Adjustment (FP/EPA).
Answers Verified Solutions Latest
Update
Question:
If timeliness of performance is critical, what should the government consider using?
Answer:
A liquidated damages clause.
Question:
What are the three 'Methods of Evaluation' listed for FAR Part 15 source selection?
Answer:
Trade-off; LPTA; Highest Technically Rated with a Fair and Reasonable Price.
Question:
When is a Trade-off method typically used?
Answer:
When the requirement is less definitive/more development is required, performance
risk is greater, and non-price factors may dominate.
Question:
When is LPTA typically used?
Answer:
When the requirement is clearly definable, the risk of unsuccessful performance is
minimal, and cost/price is dominant.
, Question:
When is 'Highest Technically Rated with a Fair and Reasonable Price' used?
Answer:
When the acquisition warrants paying any fair and reasonable price for the highest
quality performance.
Question:
When should the acquisition warrant paying a fair price?
Answer:
When it ensures the highest quality performance.
Question:
What are the necessary elements of a solicitation?
Answer:
Introduction; General Information; description of goods/services; minimum vendor
qualifications; minimum standards of a bid/proposal; required elements of a
bid/proposal; contractual terms/conditions; submittal requirements; evaluation criteria.
Question:
What authorized contract types are listed under SAP/RFQ (FAR Part 12/13)?
Answer:
Firm-Fixed-Price (FFP); Time & Materials (T&M); Labor Hour (LH).
Question:
What basis of award options are listed under an RFQ?
Answer:
Lowest price; price and other factors; technical, price, past performance.
Question:
What contract types are authorized under IFB / Sealed Bidding (FAR Part 14)?
Answer:
Firm-Fixed-Price (FFP); Fixed Price with Economic Price Adjustment (FP/EPA).
