CON 1200 - U04 Developing an Effective Contract Strategy |Questions and Answers | 2025 Update|100%
Correct-Defense Acquisition University
1. Which one of the following contract types is considered an incentive type contract?
Firm-Fixed Price
Cost Plus Award Fee Contract
Feedback:Correct, see FAR 16.401(e) and FAR 16.405-2. See student slide 102.
Time and Material Contract
Cost Contract
Correct 4/4 Points
2. Which of the following statements correctly identifies when an indefinite-delivery contract is
appropriate to use?
When uncertainties involved in contractor performance do not permit costs to be estimated.
When the specifications/work statement is clearly defined.
When the exact times and/or quantities of future deliveries are not known at time of award.
Feedback:Correct, see FAR 16.501-2(a). See student slides 13 and 14.
When it is possible to estimate accurately the extent of and duration of the work.
Correct 4/4 Points
3. Which one of the following is a characteristic of cost reimbursable type contracts?
Profit is not limited.
Requires maximum government surveillance.
Feedback:Correct, see FAR 16.301-3(a)(4). See student slide 9.
The risk to the contractor is high.
The contractor shall deliver or risk default.
, Correct 4/4 Points
4. Contracting may employ simplified acquisition procedures for acquisitions of commercial
items not exceeding:
$7,500,000
Feedback:Correct, see FAR 13.500(a) . See student slides 34 through 37.
$250,000
$1,000,000
$2,500
Correct 4/4 Points
5. Select the statement that is INCORRECT when it comes to the requirement to use sealed
bidding:
Time permits the solicitation, submission, and evaluation of sealed bids.
There is a reasonable expectation of receiving more than one sealed bid.
It is necessary to conduct discussions with the responding offerors about their bids.
Feedback:Correct, see FAR 6.401(a)(3). See student slide 41.
The award will be made on the basis of price and other price-related factors.
Correct 4/4 Points
6. The Competition in Contracting Act requires .
That all government requirements be solicited under full and open competition without exception.
Requirements to be written in a manner that promote full and open competition, in order to obtain
maximum competition in obtaining the agency's needs.
Feedback:Correct, see FAR 6.101 and FAR 11.002(a)(1)(i). See student slide 20.
Contracting officers to make the decision on what is considered legal competition.
Correct-Defense Acquisition University
1. Which one of the following contract types is considered an incentive type contract?
Firm-Fixed Price
Cost Plus Award Fee Contract
Feedback:Correct, see FAR 16.401(e) and FAR 16.405-2. See student slide 102.
Time and Material Contract
Cost Contract
Correct 4/4 Points
2. Which of the following statements correctly identifies when an indefinite-delivery contract is
appropriate to use?
When uncertainties involved in contractor performance do not permit costs to be estimated.
When the specifications/work statement is clearly defined.
When the exact times and/or quantities of future deliveries are not known at time of award.
Feedback:Correct, see FAR 16.501-2(a). See student slides 13 and 14.
When it is possible to estimate accurately the extent of and duration of the work.
Correct 4/4 Points
3. Which one of the following is a characteristic of cost reimbursable type contracts?
Profit is not limited.
Requires maximum government surveillance.
Feedback:Correct, see FAR 16.301-3(a)(4). See student slide 9.
The risk to the contractor is high.
The contractor shall deliver or risk default.
, Correct 4/4 Points
4. Contracting may employ simplified acquisition procedures for acquisitions of commercial
items not exceeding:
$7,500,000
Feedback:Correct, see FAR 13.500(a) . See student slides 34 through 37.
$250,000
$1,000,000
$2,500
Correct 4/4 Points
5. Select the statement that is INCORRECT when it comes to the requirement to use sealed
bidding:
Time permits the solicitation, submission, and evaluation of sealed bids.
There is a reasonable expectation of receiving more than one sealed bid.
It is necessary to conduct discussions with the responding offerors about their bids.
Feedback:Correct, see FAR 6.401(a)(3). See student slide 41.
The award will be made on the basis of price and other price-related factors.
Correct 4/4 Points
6. The Competition in Contracting Act requires .
That all government requirements be solicited under full and open competition without exception.
Requirements to be written in a manner that promote full and open competition, in order to obtain
maximum competition in obtaining the agency's needs.
Feedback:Correct, see FAR 6.101 and FAR 11.002(a)(1)(i). See student slide 20.
Contracting officers to make the decision on what is considered legal competition.
