CON 1300 PRACTICE EXAM REVIEW
QUESTIONS AND ANSWERS
What is schedule element risk - ANSWER-Is risk that activities will take longer than
expected, & is typically the result of poor planning or unforeseen circumstances
What is performance risk elements - ANSWER-Is the risk that the project will fail to
produce results consistent with project specifications
What is Cost Realism Analysis used for? - ANSWER-Used to mitigate cost risk
According to FAR 16.101, contract types vary according to what two elements -
ANSWER-o The degree & timing of the responsibility assumed by the contractor for the
cost of performance
o The amount & nature of the profit incentive offered to the contractor for achieving or
exceeding specified standards or goals
What is the objective of proposal Analysis - ANSWER-The objective of proposal
analysis is to ensure that the final agreed to price is fair and reasonable.
Who is responsible for evaluating the reasonableness of the offered prices - ANSWER-
The KO is responsible for evaluating the reasonableness of the offered price
What is proposal Analysis - ANSWER-While the FAR does not define what constitutes a
fair & reasonable price, it does establish specific steps we need to take in order to
determine prices proposed as fair & reasonable
What are some proposal analysis techniques - ANSWER-o Price Analysis
o Cost Analysis
o Technical Analysis
o Past Performance
Examples of price- related factors include: - ANSWER-o Multiple Awards vs. Single
Award
o Govt. Furnished Property
o Buy American Act
what is cost analysis - ANSWER-o Shall be used when certified cost & pricing data is
required
o Also used when price analysis alone will not suffice to determine price fair &
reasonable
, What is Cost Realism Analysis - ANSWER-Costs should be realistic for the work to be
performed; reflects a clear understanding of the requirements; and is consistent with the
unique methods of performance & materials described in the offerors technical proposal
What is Price Analysis - ANSWER-o Evaluating proposed total price & not the separate
cost elements & profit
o We use price analysis daily when comparing prices
o Shall be used when certified cost or pricing data are not required
o contract award criteria should address all price-related factors that will have a
significant & measurable effect on the total cost of the acquisition
What are two types of factors under price-related factors for Government Furnished
Property (GFP) - ANSWER-o Eliminate Competitive advantage
o Consider government costs or savings related to providing property
What are the 3 additional steps to conclude the price analysis process - ANSWER-o
Determine lowest evaluated price
o Compare offered prices with other prices
o Account for differences
What are the 4 steps in the evaluating & applying price-related factors - ANSWER-1-
Determine solicitation provisions
2- Determine total price offered
3- Evaluate award combinations
4- Make award decision
What are Price-related factors - ANSWER-Affect the proposed price for evaluation
purposed only, the actual proposed price from the contractor is not changed.
HUBZone does what in price related factors - ANSWER-Adds 10% price evaluation
preference (PEP) to all offers except HUBZone small business or otherwise successful
small business
What is the Buy American Act - ANSWER-Requires Federal agencies to procure
domestic materials and products
o Procurement must be intended for public use within the U.S.
o Items to be procured or the materials from which they are manufactured must be
present in the U.S.
The contractor must submit cost & pricing data and certify that it is _____________,
____________, and ______________________. - ANSWER-Current, Complete, and
Accurate
What is the current Threshold and Exemptions under Truth in Negotiation Act (TINA)? -
ANSWER-Threshold 2M
QUESTIONS AND ANSWERS
What is schedule element risk - ANSWER-Is risk that activities will take longer than
expected, & is typically the result of poor planning or unforeseen circumstances
What is performance risk elements - ANSWER-Is the risk that the project will fail to
produce results consistent with project specifications
What is Cost Realism Analysis used for? - ANSWER-Used to mitigate cost risk
According to FAR 16.101, contract types vary according to what two elements -
ANSWER-o The degree & timing of the responsibility assumed by the contractor for the
cost of performance
o The amount & nature of the profit incentive offered to the contractor for achieving or
exceeding specified standards or goals
What is the objective of proposal Analysis - ANSWER-The objective of proposal
analysis is to ensure that the final agreed to price is fair and reasonable.
Who is responsible for evaluating the reasonableness of the offered prices - ANSWER-
The KO is responsible for evaluating the reasonableness of the offered price
What is proposal Analysis - ANSWER-While the FAR does not define what constitutes a
fair & reasonable price, it does establish specific steps we need to take in order to
determine prices proposed as fair & reasonable
What are some proposal analysis techniques - ANSWER-o Price Analysis
o Cost Analysis
o Technical Analysis
o Past Performance
Examples of price- related factors include: - ANSWER-o Multiple Awards vs. Single
Award
o Govt. Furnished Property
o Buy American Act
what is cost analysis - ANSWER-o Shall be used when certified cost & pricing data is
required
o Also used when price analysis alone will not suffice to determine price fair &
reasonable
, What is Cost Realism Analysis - ANSWER-Costs should be realistic for the work to be
performed; reflects a clear understanding of the requirements; and is consistent with the
unique methods of performance & materials described in the offerors technical proposal
What is Price Analysis - ANSWER-o Evaluating proposed total price & not the separate
cost elements & profit
o We use price analysis daily when comparing prices
o Shall be used when certified cost or pricing data are not required
o contract award criteria should address all price-related factors that will have a
significant & measurable effect on the total cost of the acquisition
What are two types of factors under price-related factors for Government Furnished
Property (GFP) - ANSWER-o Eliminate Competitive advantage
o Consider government costs or savings related to providing property
What are the 3 additional steps to conclude the price analysis process - ANSWER-o
Determine lowest evaluated price
o Compare offered prices with other prices
o Account for differences
What are the 4 steps in the evaluating & applying price-related factors - ANSWER-1-
Determine solicitation provisions
2- Determine total price offered
3- Evaluate award combinations
4- Make award decision
What are Price-related factors - ANSWER-Affect the proposed price for evaluation
purposed only, the actual proposed price from the contractor is not changed.
HUBZone does what in price related factors - ANSWER-Adds 10% price evaluation
preference (PEP) to all offers except HUBZone small business or otherwise successful
small business
What is the Buy American Act - ANSWER-Requires Federal agencies to procure
domestic materials and products
o Procurement must be intended for public use within the U.S.
o Items to be procured or the materials from which they are manufactured must be
present in the U.S.
The contractor must submit cost & pricing data and certify that it is _____________,
____________, and ______________________. - ANSWER-Current, Complete, and
Accurate
What is the current Threshold and Exemptions under Truth in Negotiation Act (TINA)? -
ANSWER-Threshold 2M
