L3ABR6C031 Contracting Apprentice Block 2 Exam
/ Questions With Verified Answers 2025 / A+
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☆7A-123.) Which FAR Part dictates how the federal government conducts market research? -
ANSWER FAR Part 10, Market Research
☆7A-123.) What is "market research" IAW FAR Subpart 2.101? - ANSWER Market research is
"collecting and analyzing information about capabilities within the market to satisfy agency
needs"
☆7A-123.) How shall market research be conducted according to FAR Subpart 10.001? -
ANSWER 1.) Appropriate to the circumstances
2.)Before developing new requirements
3.) On an ongoing basis
4.) Over the SAT - before soliciting offers
5.) Below the SAT - before soliciting offers when adequate information is not available and the
circumstances justify the cost
7A-124.) (True/False) "Tablet" is a sufficient enough description to proceed with market
research. - ANSWER False. Your "description of need" should include as much context as
possible to ensure that the government has an idea of what to look for.
,☆7A-124.) FAR Subpart 10.002(b)(1) explains that market research will vary depending on
_________________, _________________, _________________, and _________________. -
ANSWER 1.) urgency
2.) estimated dollar value
3.) complexity
4.) and past experiences
☆7A-124.) What are the four techniques available to perform market research according to FAR
Subpart 10.002(b)(2)? - ANSWER 1.) Contacting knowledgeable individuals in government and
industry
2.) Review the results of recent market research
3.) Publish formal request for information
4.) Query the government-wide database of contracts
☆7A-125.) The FAR requires contracting professionals to do what with market research? -
ANSWER To "use the results of their market research to make acquisition planning decisions."
☆7B-127.) What is the DPAP? - ANSWER The Defense Procurement and Acquisition Policy.
☆7B-127.) According to the DPAP, what is strategic sourcing? - ANSWER Strategic sourcing is the
collaborative and structured process of critically analyzing an organization's spending and using
this information to make business decisions.
, 7B-127.) What is supply chain management? - ANSWER Supply chain management is a system
involving various functions that come together for complex and large scale acquisitions.
7B-127.) Name the common functions in the supply chain. - ANSWER 1.) Procurement
2.) logistics
3.) inventory control
4.) product life-cycle management
5.) demand management
7B-127.) Strategic sourcing is focused on large, complex acquisitions. What is operational
contracting focused on? - ANSWER Purchasing, and involves only the procurement function.
7B-128.) How does strategic sourcing benefit contracting professionals? - ANSWER 1.) It creates
an exponentially more efficient work environment.
2.) Strategic sourcing saves both tangible and intangible costs.
7B-128.) What is the difference between tangible and intangible cost? - ANSWER Tangible costs
are realized when buying in bulk, thereby reducing individual item price. Intangible cost savings
are captured alongside the benefit of higher level efficiency. (Time saved is money saved)
/ Questions With Verified Answers 2025 / A+
Graded / Success Guaranteed !
☆7A-123.) Which FAR Part dictates how the federal government conducts market research? -
ANSWER FAR Part 10, Market Research
☆7A-123.) What is "market research" IAW FAR Subpart 2.101? - ANSWER Market research is
"collecting and analyzing information about capabilities within the market to satisfy agency
needs"
☆7A-123.) How shall market research be conducted according to FAR Subpart 10.001? -
ANSWER 1.) Appropriate to the circumstances
2.)Before developing new requirements
3.) On an ongoing basis
4.) Over the SAT - before soliciting offers
5.) Below the SAT - before soliciting offers when adequate information is not available and the
circumstances justify the cost
7A-124.) (True/False) "Tablet" is a sufficient enough description to proceed with market
research. - ANSWER False. Your "description of need" should include as much context as
possible to ensure that the government has an idea of what to look for.
,☆7A-124.) FAR Subpart 10.002(b)(1) explains that market research will vary depending on
_________________, _________________, _________________, and _________________. -
ANSWER 1.) urgency
2.) estimated dollar value
3.) complexity
4.) and past experiences
☆7A-124.) What are the four techniques available to perform market research according to FAR
Subpart 10.002(b)(2)? - ANSWER 1.) Contacting knowledgeable individuals in government and
industry
2.) Review the results of recent market research
3.) Publish formal request for information
4.) Query the government-wide database of contracts
☆7A-125.) The FAR requires contracting professionals to do what with market research? -
ANSWER To "use the results of their market research to make acquisition planning decisions."
☆7B-127.) What is the DPAP? - ANSWER The Defense Procurement and Acquisition Policy.
☆7B-127.) According to the DPAP, what is strategic sourcing? - ANSWER Strategic sourcing is the
collaborative and structured process of critically analyzing an organization's spending and using
this information to make business decisions.
, 7B-127.) What is supply chain management? - ANSWER Supply chain management is a system
involving various functions that come together for complex and large scale acquisitions.
7B-127.) Name the common functions in the supply chain. - ANSWER 1.) Procurement
2.) logistics
3.) inventory control
4.) product life-cycle management
5.) demand management
7B-127.) Strategic sourcing is focused on large, complex acquisitions. What is operational
contracting focused on? - ANSWER Purchasing, and involves only the procurement function.
7B-128.) How does strategic sourcing benefit contracting professionals? - ANSWER 1.) It creates
an exponentially more efficient work environment.
2.) Strategic sourcing saves both tangible and intangible costs.
7B-128.) What is the difference between tangible and intangible cost? - ANSWER Tangible costs
are realized when buying in bulk, thereby reducing individual item price. Intangible cost savings
are captured alongside the benefit of higher level efficiency. (Time saved is money saved)
