AF Contracting Officer Study Guide with all questions answered correct 100% REVISED 2023/2024

AF Contracting Officer Study Guide with all questions answered correct 100% REVISED 2023/2024 *Source Selection* FAR 1.602-2; 3.104-4; 15.207 () Q: What are the CO's responsibilities in source selection? - ANSWER 1. Procedures to safeguard source selection information. 2. Approve access to/release source selection information. 3. Maintain SS evaluation records. *Source Selection* 2016 DoD Source Selection Manual, 1.4.1.2 () Q: What are the SSA responsibilities? - ANSWER 1. Proper and efficient conduct of SS process. 2. Appoint respective chairpersons. 3. Establish SS team and ensure their knowledge of policy/procedure. 4. Ensure pace is event and not schedule driven (realistic SS schedule). *Financing* FAR 32.106 () Q: Name the different types of government financing in order of their preference - ANSWER 1. Private financing (most preferred). 2. Performance based payments. 3. Customary progress payments. 4. Guaranteed loans. 5. Unusual progress payments. 6. Advance payments (least preferred). *Acquisition Strategy Panel (ASP)* AFFARS 5307.104-92; AFICA MP 5307.104-92 () Q: Who prepares the ASP minutes, when are they prepared and who approves them? *AIR FORCE ONLY* - ANSWER Program manager, CO or Commodity Council Director prepares following the conclusion of the ASP briefing, and approved by the ASP chairperson. *Cost Analysis* FAR 15.404-1 (c) () Q: What is cost analysis? - ANSWER Review and evaluation of separate elements and profit of contractor's proposal. The application of judgment to determine how well proposed costs represent what the cost of the contract should be assuming reasonable economy and efficiency. Techniques include verification of cost or pricing data and evaluation of cost elements; projection of offeror's cost trends based on current/historical cost/pricing data; audit and negotiated indirect cost, labor and COM rates. *IDIQ* FAR 16.504 (a) () Q: How does the PCO compute the minimum and maximum quantity on an IDIQ contract? - ANSWER 1. Minimum-Should be more than a nominal quantity but should not exceed amount the Government is fairly certain to order. 2. Maximum - A reasonable max should be established by conducting market research trends on recent contracts for similar supply/svcs, survey of potential users, other rational basis. *Estimating Systems* FAR 15.407-5 () Q: Define estimating system and cost reimbursement. - ANSWER Estimating system is contractor's policies/procedures/practices for generating estimates. Includes organizational structure, internal controls, and managerial reviews, work flow, est methods, techniques, accumulation of historical costs and other analysis. Cost reimbursement - Contractor's ability to accurately and reliable estimate costs could lead to cost overruns and increased risk for the Government. *Defective Pricing* FAR 15.407-1 () Q: What are six cond