FAC 023 Exam study
True or False? The procedures for buying open market items, as prescribed at FAR 8.402(f), are not
applicable to items
purchased under OLM procedures. - Answer-False.
Select the three correct responses. When putting together the acquisition plan, ordering activities
should also consider how
much and what types of Other Direct Costs (ODCs) are going to be needed to meet the requirement.
Which of the following is a type of ODC: - Answer-Ancillary Supplies and Services
Open Market Items
Travel Reimbursements
Select the three correct responses. When preparing an RFQ with OLMs, the RFQ should state that: -
Answer-OLMs must be in support of the order
Quoter must identify indirect cost as a fixed amount (if applicable)
OLMs shall not exceed 33 33% of the total cost of the order
, True or False? According to FAR subpart 8.4, ordering activities should place orders on a "best value"
basis. - Answer-True.
Select the correct response. Which is not a "best value factor" for Procurement of Services? - Answer-
Incapable key personnel
True or False? Order administration focuses on obtaining quality services and supplies on time and
within budget. - Answer-True.
True or False? Utilizing a best value determination eliminates the consideration of price. - Answer-False.
Credit towards an agency's socioeconomic goals can be met through the GSA Multiple Award Schedules
Program. Select the correct response. - Answer-True.
Ordering activities cannot require a MAS Schedule contractor to submit a re-representation of business
size at the order
level. Select the correct response - Answer-False.
The Multiple Award Schedule (MAS) contract size standard certification is generally valid for 5 years.
Select the correct response. - Answer-True.
Contracting Officers may, at their discretion, set-aside Schedule orders or BPAs for small business
concems. Select the correct response. - Answer-True.
True or False? All orders under the BPA shall specify a price for the performance of the tasks identified in
the statement of work. True False - Answer-True.
True or False? The procedures for buying open market items, as prescribed at FAR 8.402(f), are not
applicable to items
purchased under OLM procedures. - Answer-False.
Select the three correct responses. When putting together the acquisition plan, ordering activities
should also consider how
much and what types of Other Direct Costs (ODCs) are going to be needed to meet the requirement.
Which of the following is a type of ODC: - Answer-Ancillary Supplies and Services
Open Market Items
Travel Reimbursements
Select the three correct responses. When preparing an RFQ with OLMs, the RFQ should state that: -
Answer-OLMs must be in support of the order
Quoter must identify indirect cost as a fixed amount (if applicable)
OLMs shall not exceed 33 33% of the total cost of the order
, True or False? According to FAR subpart 8.4, ordering activities should place orders on a "best value"
basis. - Answer-True.
Select the correct response. Which is not a "best value factor" for Procurement of Services? - Answer-
Incapable key personnel
True or False? Order administration focuses on obtaining quality services and supplies on time and
within budget. - Answer-True.
True or False? Utilizing a best value determination eliminates the consideration of price. - Answer-False.
Credit towards an agency's socioeconomic goals can be met through the GSA Multiple Award Schedules
Program. Select the correct response. - Answer-True.
Ordering activities cannot require a MAS Schedule contractor to submit a re-representation of business
size at the order
level. Select the correct response - Answer-False.
The Multiple Award Schedule (MAS) contract size standard certification is generally valid for 5 years.
Select the correct response. - Answer-True.
Contracting Officers may, at their discretion, set-aside Schedule orders or BPAs for small business
concems. Select the correct response. - Answer-True.
True or False? All orders under the BPA shall specify a price for the performance of the tasks identified in
the statement of work. True False - Answer-True.
