2024 CONTRACTING OFFICER UNLIMITED
WARRANT BOARD REAL NEWEST EXAM
VERSION WITH DETAILED ANSWERS
GRADED A+
What must the PCO do for any change and/or modification
estimated to be $1M or more? - CORRECT ANSWER✔✔
Obtain legal review of the proposed action and document
the review in the contract file
Where can a PCO look to help determine if a change is in-
scope? - CORRECT ANSWER✔✔Various source
documents to include: SOO/SOW/PWS, synopsis, RFP,
exchanges with industry, market surveys, RFIs, etc.
What is "scope creep?" - CORRECT ANSWER✔✔Scope
creep occurs when a series of in-scope changes make the
contract as a whole out-of-scope. The PCO must remain
cognizant of scope creep when changing/modifying
existing contracts.
What is a T&M contract? - CORRECT ANSWER✔✔
Limitations. A time-and-materials contract may be used
only if—
(1) The contracting officer prepares a determination and
findings that no other contract type is suitable. The
determination and finding shall be—
,(i) Signed by the contracting officer prior to the execution
of the base period or any option periods of the contracts;
and
(ii) Approved by the head of the contracting activity prior to
the execution of the base period when the base period
plus any option periods exceeds three years; and
(2) The contract includes a ceiling price that the contractor
exceeds at its own risk. The contracting officer shall
document the contract file to justify the reasons for and
amount of any subsequent change in the ceiling price.
Also see 12.207(b) for further limitations
on use of Time-and-Materials or Labor Hour contracts for
acquisition of commercial items.
Can a T&M contract be used for a commercial service? -
CORRECT ANSWER✔✔a) Except as provided in
paragraph (b) of this section, agencies shall use firm-fixed-
price contracts or fixed-price contracts with economic price
adjustment for the acquisition of commercial items.
(b) (1) A time-and-materials contract or labor-hour contract
(see Subpart 16.6) may be used for the acquisition of
commercial services when—
(i) The service is acquired under a contract awarded
using— Competitive Procedures, Fair Opportunity, with an
executed D&F
Define Certified Cost or Pricing Data. - CORRECT
ANSWER✔✔All facts, that as of the date of price
agreement, or if applicable, an earlier date agreed upon
between the parties that's as close as practicable to the
date of agreement on price, prudent buyers and sellers
,would reasonably expect to affect price negotiations
significantly.
When is Certified Cost and Pricing data required? -
CORRECT ANSWER✔✔When executing actions over
$750,000 with the exception of prices established by
statute, commercial items, with adequate price
competition, and when a TINA waiver is granted.
What is the "Bona Fide Needs" Rule? - CORRECT
ANSWER✔✔The Bona Fide Needs Rule basically means
that a federal agency must have a legitimate or bona fide
need for the requirement during the time period that the
appropriation is available. Pursuant to 31 U.S.C. 1502(a),
"The balance of an appropriation limited for obligation to a
definite period is available only for payment of expenses
incurred during the period of availability, or to complete
contracts properly made during the period of availability
and obligated consistent with Section 1501 of this title.." In
other words, the basic rule states that a fiscal year's (FY)
appropriation may be obligated to meet a legitimate or
bona fide need existing in the FY for which the
appropriation was made. This aspect of fund availability
seeks to ensure that only appropriations, which are
available for a specific FY are used to meet the legitimate
needs of that FY. The bona fide needs rule applies to both
multiple year and annual appropriations. TIME,
PURPOSE, AMOUNT
You have just awarded 3 contract actions. You remember
something in FAR Part 5 about synopsizing contract
, awards. The first action was a Small Business Innovation
Research contract for $99,978. The second action was a
$3M new delivery order under an existing IDIQ contract
and the third action was a purchase order for $12,995. As
a PCO, would you synopsize these contract actions? -
CORRECT ANSWER✔✔SBIRs, delivery orders under
existing IDIQ contracts and actions under the simplified
acquisition threshold ($150K) do not require an award
synopsis. However the dollar threshold is not a prohibition
against publicizing an award of a smaller amount when
publicizing would be advantageous to industry or to the
Government.
What is the requirement for obligating funds when
awarding indefinite-quantity contracts? - CORRECT
ANSWER✔✔For ID/IQ contracts all supplies and services
to be furnished shall be obtained via delivery order(s) or
task order(s) issued by individuals designated in the
contract. Upon execution of the contract, an obligation
shall be recorded based upon the issuance of a delivery or
task order for the cost/price of the minimum quantity
specified. Obtaining a certification of availability of funding
from the finance office does not satisfy the requirement to
record an obligation in the official accounting records of
the Government for the minimum order amount
established by the award of an IDIQ contract. The
Government's actual obligation must be recorded at the
time of contract award. Recording and subsequently
reporting the required obligation using anything other than
a delivery or task order will result in the action not being
reported in FPDS-NG. The Recording of Obligations Act is
WARRANT BOARD REAL NEWEST EXAM
VERSION WITH DETAILED ANSWERS
GRADED A+
What must the PCO do for any change and/or modification
estimated to be $1M or more? - CORRECT ANSWER✔✔
Obtain legal review of the proposed action and document
the review in the contract file
Where can a PCO look to help determine if a change is in-
scope? - CORRECT ANSWER✔✔Various source
documents to include: SOO/SOW/PWS, synopsis, RFP,
exchanges with industry, market surveys, RFIs, etc.
What is "scope creep?" - CORRECT ANSWER✔✔Scope
creep occurs when a series of in-scope changes make the
contract as a whole out-of-scope. The PCO must remain
cognizant of scope creep when changing/modifying
existing contracts.
What is a T&M contract? - CORRECT ANSWER✔✔
Limitations. A time-and-materials contract may be used
only if—
(1) The contracting officer prepares a determination and
findings that no other contract type is suitable. The
determination and finding shall be—
,(i) Signed by the contracting officer prior to the execution
of the base period or any option periods of the contracts;
and
(ii) Approved by the head of the contracting activity prior to
the execution of the base period when the base period
plus any option periods exceeds three years; and
(2) The contract includes a ceiling price that the contractor
exceeds at its own risk. The contracting officer shall
document the contract file to justify the reasons for and
amount of any subsequent change in the ceiling price.
Also see 12.207(b) for further limitations
on use of Time-and-Materials or Labor Hour contracts for
acquisition of commercial items.
Can a T&M contract be used for a commercial service? -
CORRECT ANSWER✔✔a) Except as provided in
paragraph (b) of this section, agencies shall use firm-fixed-
price contracts or fixed-price contracts with economic price
adjustment for the acquisition of commercial items.
(b) (1) A time-and-materials contract or labor-hour contract
(see Subpart 16.6) may be used for the acquisition of
commercial services when—
(i) The service is acquired under a contract awarded
using— Competitive Procedures, Fair Opportunity, with an
executed D&F
Define Certified Cost or Pricing Data. - CORRECT
ANSWER✔✔All facts, that as of the date of price
agreement, or if applicable, an earlier date agreed upon
between the parties that's as close as practicable to the
date of agreement on price, prudent buyers and sellers
,would reasonably expect to affect price negotiations
significantly.
When is Certified Cost and Pricing data required? -
CORRECT ANSWER✔✔When executing actions over
$750,000 with the exception of prices established by
statute, commercial items, with adequate price
competition, and when a TINA waiver is granted.
What is the "Bona Fide Needs" Rule? - CORRECT
ANSWER✔✔The Bona Fide Needs Rule basically means
that a federal agency must have a legitimate or bona fide
need for the requirement during the time period that the
appropriation is available. Pursuant to 31 U.S.C. 1502(a),
"The balance of an appropriation limited for obligation to a
definite period is available only for payment of expenses
incurred during the period of availability, or to complete
contracts properly made during the period of availability
and obligated consistent with Section 1501 of this title.." In
other words, the basic rule states that a fiscal year's (FY)
appropriation may be obligated to meet a legitimate or
bona fide need existing in the FY for which the
appropriation was made. This aspect of fund availability
seeks to ensure that only appropriations, which are
available for a specific FY are used to meet the legitimate
needs of that FY. The bona fide needs rule applies to both
multiple year and annual appropriations. TIME,
PURPOSE, AMOUNT
You have just awarded 3 contract actions. You remember
something in FAR Part 5 about synopsizing contract
, awards. The first action was a Small Business Innovation
Research contract for $99,978. The second action was a
$3M new delivery order under an existing IDIQ contract
and the third action was a purchase order for $12,995. As
a PCO, would you synopsize these contract actions? -
CORRECT ANSWER✔✔SBIRs, delivery orders under
existing IDIQ contracts and actions under the simplified
acquisition threshold ($150K) do not require an award
synopsis. However the dollar threshold is not a prohibition
against publicizing an award of a smaller amount when
publicizing would be advantageous to industry or to the
Government.
What is the requirement for obligating funds when
awarding indefinite-quantity contracts? - CORRECT
ANSWER✔✔For ID/IQ contracts all supplies and services
to be furnished shall be obtained via delivery order(s) or
task order(s) issued by individuals designated in the
contract. Upon execution of the contract, an obligation
shall be recorded based upon the issuance of a delivery or
task order for the cost/price of the minimum quantity
specified. Obtaining a certification of availability of funding
from the finance office does not satisfy the requirement to
record an obligation in the official accounting records of
the Government for the minimum order amount
established by the award of an IDIQ contract. The
Government's actual obligation must be recorded at the
time of contract award. Recording and subsequently
reporting the required obligation using anything other than
a delivery or task order will result in the action not being
reported in FPDS-NG. The Recording of Obligations Act is
