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CONTRACTING OFFICER WARRANT BOARD EXAM LATEST 2025
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||PROFESSOR VERIFIED||
||BRANDNEW!!!||
What is consideration? How would you address consideration on
a Fixed Price type contract being modified to include additional
Government Furnished Property (GFP) (e.g., not part of the
original contract), and what is your reasoning? How would you
address consideration on a Cost type contract being modified to
include additional GFP (e.g. not part of the original contract), and
what is your reasoning?
legal/010 - ANSWER-Consideration is the inducement to a
contract: the cause, motive, price, or impelling influence that leads
a party to enter a contract. A binding contract requires an offer,
acceptance of the offer, and consideration. Consideration
generally requires two elements: (1) something must be given that
the law regards as of sufficient legal value for the purpose - either
a benefit to the seller or a detriment to the buyer, and (2) the
something (benefit or detriment of legal value) must be dealt with
by the parties as the agreed-uponm price or exchange for the
promise - there must be a "bargained-for exchange." The
,2|Page
requirement for consideration does not require that what is relied
upon for consideration be equivalent in value to the promise; the
consideration need only have "some value."
For Fixed Price: After determining the estimated value of the
GFP, you would add something of value to the contract (i.e.,
additional within scope capability, an additional study, additional
hours) in order to re-establish the original "balance" of the
contractual consideration.
For Cost Type: Textbook answer and preference is to reduce the
base fee. After determining the extimated value of the GFP, you
would get a reduction in the base fee on a cost type contract (if
there is a base fee). This is because the GFP, in effect, reduces
the estimated cost of the contract and therefore the fee
associated with it should also be reduced. This re-establishes the
original "balance" of the contractual consideration. In real life, if
the value of the GFP is nominal and it is impractical to reduce the
fee - you have a few other alternatives: requesting something of
nominal value (additional copies of a report), documenting the file
that your produce will be enhanced given the use of GFP or
document the file that consideration was obtained through "cos
,3|Page
You are working a $100M acquisition. The price analyst has
received business clearance with 5% latitude. You reach a point
where you don't feel you can go any further but are still well within
your latitude. The PM suggests the team should just use the rest
of our latitude in order to get it done. What do you do?
clearance/question 009 - ANSWER-Just because you have the
latitude doesn't mean you should use it. The price still has to be
fair and reasonable. Any move you make regarding price should
be related to additional information you receive from the
contractor or changes in risk. You have to be able to write to and
support your final price agreement.
What are MIRTs/Peer Reviews, tell me all you know. What are
they, Purpose, threshold, team composition, and when required?
clearance/question 009 - ANSWER-Multi-functional Integrated
Review Teams are now required by AFMC policy (subpart
5301.90) to augment clearance procedures. The MIRTs are
required at specified Critical Decision Points (CDPs): a) to review
DRAFT ASP or Acq Plan, b) to review DRAFT Sections L & M, c)
to review DRAFT IEB or DRAFT Award document (if awarding
, 4|Page
w/out discussions, d) to review DRAFT FPR request, and e) to
review DRAFT SSDD. Membership must be made of cross-
functional experts such as: technical or requirements activity
(PM/EN/A1/A5), Legal representative, contracting activity (CO,
chief of policy, etc). Membership shall not consist of anyone on
the SSET. Typically no A&AS are included on MIRTs. AFFARS
MPs 5301.9001(b) (2) - competitive acquisitions >=$50M meeting
the criteria at AFFARS 5301.90 or whenever the CAA wants a
MIRT, but mostly just pre-award and competitive actions. Peer
reviews are a DoD policy, issued by DPAP for >=$1B efforts,
applies to pre and post-award actions.
You are the PCO for an ACAT 1 competition estimated at $1.5B.
The PM is drafting the source selection schedule. Talk about what
independent and clearance review are required and when.
clearance/question 009 - ANSWER-You will have MIRT at the five
Critical Decision Points: 1) Review Draft ASP/AP; 2) Review RFP;
3) Review Draft Competitive Range Briefing or Award w/o
Discussion; 4) Review Draft FPR and 5) Review Draft SSD Brief.
PEER Reviews are also required on actions > $1B. They would
CONTRACTING OFFICER WARRANT BOARD EXAM LATEST 2025
ACTUAL EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS (100% VERIFIED ANSWERS) |ALREADY
GRADED A+| ||PROFESSOR VERIFIED||
||BRANDNEW!!!||
What is consideration? How would you address consideration on
a Fixed Price type contract being modified to include additional
Government Furnished Property (GFP) (e.g., not part of the
original contract), and what is your reasoning? How would you
address consideration on a Cost type contract being modified to
include additional GFP (e.g. not part of the original contract), and
what is your reasoning?
legal/010 - ANSWER-Consideration is the inducement to a
contract: the cause, motive, price, or impelling influence that leads
a party to enter a contract. A binding contract requires an offer,
acceptance of the offer, and consideration. Consideration
generally requires two elements: (1) something must be given that
the law regards as of sufficient legal value for the purpose - either
a benefit to the seller or a detriment to the buyer, and (2) the
something (benefit or detriment of legal value) must be dealt with
by the parties as the agreed-uponm price or exchange for the
promise - there must be a "bargained-for exchange." The
,2|Page
requirement for consideration does not require that what is relied
upon for consideration be equivalent in value to the promise; the
consideration need only have "some value."
For Fixed Price: After determining the estimated value of the
GFP, you would add something of value to the contract (i.e.,
additional within scope capability, an additional study, additional
hours) in order to re-establish the original "balance" of the
contractual consideration.
For Cost Type: Textbook answer and preference is to reduce the
base fee. After determining the extimated value of the GFP, you
would get a reduction in the base fee on a cost type contract (if
there is a base fee). This is because the GFP, in effect, reduces
the estimated cost of the contract and therefore the fee
associated with it should also be reduced. This re-establishes the
original "balance" of the contractual consideration. In real life, if
the value of the GFP is nominal and it is impractical to reduce the
fee - you have a few other alternatives: requesting something of
nominal value (additional copies of a report), documenting the file
that your produce will be enhanced given the use of GFP or
document the file that consideration was obtained through "cos
,3|Page
You are working a $100M acquisition. The price analyst has
received business clearance with 5% latitude. You reach a point
where you don't feel you can go any further but are still well within
your latitude. The PM suggests the team should just use the rest
of our latitude in order to get it done. What do you do?
clearance/question 009 - ANSWER-Just because you have the
latitude doesn't mean you should use it. The price still has to be
fair and reasonable. Any move you make regarding price should
be related to additional information you receive from the
contractor or changes in risk. You have to be able to write to and
support your final price agreement.
What are MIRTs/Peer Reviews, tell me all you know. What are
they, Purpose, threshold, team composition, and when required?
clearance/question 009 - ANSWER-Multi-functional Integrated
Review Teams are now required by AFMC policy (subpart
5301.90) to augment clearance procedures. The MIRTs are
required at specified Critical Decision Points (CDPs): a) to review
DRAFT ASP or Acq Plan, b) to review DRAFT Sections L & M, c)
to review DRAFT IEB or DRAFT Award document (if awarding
, 4|Page
w/out discussions, d) to review DRAFT FPR request, and e) to
review DRAFT SSDD. Membership must be made of cross-
functional experts such as: technical or requirements activity
(PM/EN/A1/A5), Legal representative, contracting activity (CO,
chief of policy, etc). Membership shall not consist of anyone on
the SSET. Typically no A&AS are included on MIRTs. AFFARS
MPs 5301.9001(b) (2) - competitive acquisitions >=$50M meeting
the criteria at AFFARS 5301.90 or whenever the CAA wants a
MIRT, but mostly just pre-award and competitive actions. Peer
reviews are a DoD policy, issued by DPAP for >=$1B efforts,
applies to pre and post-award actions.
You are the PCO for an ACAT 1 competition estimated at $1.5B.
The PM is drafting the source selection schedule. Talk about what
independent and clearance review are required and when.
clearance/question 009 - ANSWER-You will have MIRT at the five
Critical Decision Points: 1) Review Draft ASP/AP; 2) Review RFP;
3) Review Draft Competitive Range Briefing or Award w/o
Discussion; 4) Review Draft FPR and 5) Review Draft SSD Brief.
PEER Reviews are also required on actions > $1B. They would
