©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
ACQ 101 Module 08: Contract Management.
Exam Questions And Answers |Latest 2025 |
Guaranteed Pass
Which of the following requirements must an offer meet? (Select all that apply) - Answer✔*Be
clear and unambiguous*
*Have complete terms*
*Be communicated*
*Express intent*
Select the element of contract that best fits the definition of "something of equal value must be
exchanged": - Answer✔*Consideration*
A mutual assent is when a contract is formed by acceptance of an offer. - Answer✔*True*
In order to be legally bound to a contract, a party must have the capacity to understand and
appreciate the terms of the contract. Which of the essential elements best fits this description?
- Answer✔*Competency*
Select each statement that is accurate when binding a contract.(Select all that apply) -
Answer✔*Common law requires each party to provide consideration with a value of greater
than one dollar*
*A contract must be for legal purposes only in order to be binding*
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
*The element that converts any agreement into a true contract is "intention to create legal
relations"*
Which of the following Government agencies are exempt from complying with the FAR? (Select
all that apply) - Answer✔*Federal Aviation Administration*
*U.S. Mint*
What are the reasons that F&O competition after exclusion of sources may be used? (Select all
that apply) - Answer✔*Establishing or maintaining alternate sources*
*Fulfilling the SBA objectives for its Section 8(a) Program*
*Setting aside work for small business concerns*
Select the tasks that fall under the authority of the Contracting Officer (CO). (Select all that
apply) - Answer✔*Administer contracts*
*Ensure acquisition complies with CICA*
*Terminate contracts*
Which of the following positions has the authority to enter into, administer, and/or terminate
contracts and make related determinations and findings? - Answer✔*CO*
Which of the following are examples of a non-materiel solutions? (Select all that apply.) -
Answer✔*Change in rulemaking*
*Alternative use of existing assets*
Which of the following statements are correct? (Select all that apply) - Answer✔*The SOW
establishes and defines all non-specification requirements for contractors' efforts either directly
or with the use of specific cited documents.*
*The PWS is a statement of work for performance-based acquisitions that describe the required
results.*
*The Acquisition Plan serves as the basis for contractual implementation*
2
ACQ 101 Module 08: Contract Management.
Exam Questions And Answers |Latest 2025 |
Guaranteed Pass
Which of the following requirements must an offer meet? (Select all that apply) - Answer✔*Be
clear and unambiguous*
*Have complete terms*
*Be communicated*
*Express intent*
Select the element of contract that best fits the definition of "something of equal value must be
exchanged": - Answer✔*Consideration*
A mutual assent is when a contract is formed by acceptance of an offer. - Answer✔*True*
In order to be legally bound to a contract, a party must have the capacity to understand and
appreciate the terms of the contract. Which of the essential elements best fits this description?
- Answer✔*Competency*
Select each statement that is accurate when binding a contract.(Select all that apply) -
Answer✔*Common law requires each party to provide consideration with a value of greater
than one dollar*
*A contract must be for legal purposes only in order to be binding*
1
, ©FYNDLAY 2025 ALL RIGHTS RESERVED 5:17 PM A+
*The element that converts any agreement into a true contract is "intention to create legal
relations"*
Which of the following Government agencies are exempt from complying with the FAR? (Select
all that apply) - Answer✔*Federal Aviation Administration*
*U.S. Mint*
What are the reasons that F&O competition after exclusion of sources may be used? (Select all
that apply) - Answer✔*Establishing or maintaining alternate sources*
*Fulfilling the SBA objectives for its Section 8(a) Program*
*Setting aside work for small business concerns*
Select the tasks that fall under the authority of the Contracting Officer (CO). (Select all that
apply) - Answer✔*Administer contracts*
*Ensure acquisition complies with CICA*
*Terminate contracts*
Which of the following positions has the authority to enter into, administer, and/or terminate
contracts and make related determinations and findings? - Answer✔*CO*
Which of the following are examples of a non-materiel solutions? (Select all that apply.) -
Answer✔*Change in rulemaking*
*Alternative use of existing assets*
Which of the following statements are correct? (Select all that apply) - Answer✔*The SOW
establishes and defines all non-specification requirements for contractors' efforts either directly
or with the use of specific cited documents.*
*The PWS is a statement of work for performance-based acquisitions that describe the required
results.*
*The Acquisition Plan serves as the basis for contractual implementation*
2
