CFCM Winter Week 10 Quiz Questions and Answers (Graded A)

CFCM Winter Week 10 Quiz Questions and Answers (Graded A)CFCM Winter Week 10 Quiz Questions and Answers (Graded A)CFCM Winter Week 10 Quiz Questions and Answers (Graded A)CFCM Winter Week 10 Quiz Questions and Answers (Graded A) For a contract with which of the following would the DCAA generally not be the responsible audit agency? Federal Prison Industries An 8(a) small business An educational institution Any contractor providing architect-engineer services FAR 42.101(b) - ANSWER-The correct answer is: An educational institution What is the primary purpose of a postaward orientation? To provide understanding for a contractor that did not understand the work requirements at the time offers were submitted To achieve a clear and mutual understanding of all contract requirements and identify and resolve potential problems To make adjustments to any subcontracts which may be necessary under the prime contract To alter the final agreement arrived at in negotiations which led to the contract award FAR 42.501 - ANSWER-The correct answer is: To achieve a clear and mutual understanding of all contract requirements and identify and resolve potential problems n indirect cost rate established temporarily for interim reimbursement of incurred indirect costs and adjusted as necessary pending establishment of final indirect cost rates is called what? Billing rate Prevailing rate Required rate Interim rate - ANSWER-The correct answer is: Billing rate What are the two types of contract modifications? Negotiated and administrative