, COM 1100 Final Exam Study Guide
EXAM QUESTIONS AND ANSWERS
100% CORRECT!
What are the five key stages of the Contracting Life Cycle? - ANSWER 1. Acquisition
Planning
2. Solicitation
3. Evaluation
4. Award
5. Contract Administration
Which stage includes modifications, performance, payments, and contract closeout? -
ANSWER Contract Administration
The purpose of the Contracting Subway Map is to: - ANSWER Provide generalized
order of events in the acquisition contracting process
When contemplating the business strategy of a procurement, what should the
acquisition team consider when aligning the strategy to the contractor motivations? -
ANSWER Contract type and length, financing arrangements, profit/fee percentages,
performance evaluation, data rights, required warranties, maintenance/sustainment, and
future requirements
What is the role of the contracting professional? - ANSWER Serve as overall business
advisor to acquisition team
T/F: Contract management requires both general and business skills in areas such as
problem solving, critical thinking, costumer focus, communication, and technical
credibility. Successful contract management does not allow for adaptability in a
changing business environment. - ANSWER False
One of the initial steps in Acquisition Planning is to identify the Acquisition Team. How
does FAR 1.102-4(e) describes the role of the Contracting Officer within the Acquisition
Team? - ANSWER Contracting officers should take lead in encouraging business
process innovations and ensuring that business decisions are sound.
EXAM QUESTIONS AND ANSWERS
100% CORRECT!
What are the five key stages of the Contracting Life Cycle? - ANSWER 1. Acquisition
Planning
2. Solicitation
3. Evaluation
4. Award
5. Contract Administration
Which stage includes modifications, performance, payments, and contract closeout? -
ANSWER Contract Administration
The purpose of the Contracting Subway Map is to: - ANSWER Provide generalized
order of events in the acquisition contracting process
When contemplating the business strategy of a procurement, what should the
acquisition team consider when aligning the strategy to the contractor motivations? -
ANSWER Contract type and length, financing arrangements, profit/fee percentages,
performance evaluation, data rights, required warranties, maintenance/sustainment, and
future requirements
What is the role of the contracting professional? - ANSWER Serve as overall business
advisor to acquisition team
T/F: Contract management requires both general and business skills in areas such as
problem solving, critical thinking, costumer focus, communication, and technical
credibility. Successful contract management does not allow for adaptability in a
changing business environment. - ANSWER False
One of the initial steps in Acquisition Planning is to identify the Acquisition Team. How
does FAR 1.102-4(e) describes the role of the Contracting Officer within the Acquisition
Team? - ANSWER Contracting officers should take lead in encouraging business
process innovations and ensuring that business decisions are sound.
