FAC 023 Exam Questions with Verified Answers Latest Update 2025/2026
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. - Answers 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: - Answers 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: - Answers 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. - Answers True.
Select the correct response. Which is not a "best value factor" for Procurement of Services? -
Answers Incapable key personnel
True or False? Order administration focuses on obtaining quality services and supplies on time
and within budget. - Answers True.
True or False? Utilizing a best value determination eliminates the consideration of price. -
Answers False.
Credit towards an agency's socioeconomic goals can be met through the GSA Multiple Award
Schedules Program. Select the correct response. - Answers 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 - Answers False.
The Multiple Award Schedule (MAS) contract size standard certification is generally valid for 5
years. Select the correct response. - Answers True.
Contracting Officers may, at their discretion, set-aside Schedule orders or BPAs for small
business concems. Select the correct response. - Answers 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 - Answers True.
Select the correct response. Which is NOT a benefit of a Blanket Purchase Agreement (BPA)? -
Answers Contractors join together to provide a total solution to meet an agency's requirements
Question 24 of 60. Select the correct response. Which party is responsible for identifying
ordering activity requirements in the RFQ? - Answers The MAS Contractor
Select the correct response. Which is NOT a part of the evaluation process? - Answers Closeout
Evaluation
Select the correct response. The ordering activity Contracting Officer can terminate a Schedule
contract for cause: - Answers When the contractor fails to comply with any of the contract
terms and conditions
Select the three correct responses. What requirements does a CO need fulfill prior to
terminating a contract for cause? - Answers Review contract to identify any applicable clauses
Include in order file a record of dates the contractor received notices
Include in order file copies of all documentation to and from the contractor
Select the two correct responses. An ordering activity must notify GSA when the following
occurs. - Answers When fraud is suspected related to a Schedule contract
A Schedule order is terminated for cause
Select the correct response. According to FAR subpart 8.406-5, the ordering activity has the
right to terminate all or part of
an order when it is in the Govemment's best interest. What type of termination is this? - Answers
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. - Answers 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: - Answers 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: - Answers 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. - Answers True.
Select the correct response. Which is not a "best value factor" for Procurement of Services? -
Answers Incapable key personnel
True or False? Order administration focuses on obtaining quality services and supplies on time
and within budget. - Answers True.
True or False? Utilizing a best value determination eliminates the consideration of price. -
Answers False.
Credit towards an agency's socioeconomic goals can be met through the GSA Multiple Award
Schedules Program. Select the correct response. - Answers 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 - Answers False.
The Multiple Award Schedule (MAS) contract size standard certification is generally valid for 5
years. Select the correct response. - Answers True.
Contracting Officers may, at their discretion, set-aside Schedule orders or BPAs for small
business concems. Select the correct response. - Answers 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 - Answers True.
Select the correct response. Which is NOT a benefit of a Blanket Purchase Agreement (BPA)? -
Answers Contractors join together to provide a total solution to meet an agency's requirements
Question 24 of 60. Select the correct response. Which party is responsible for identifying
ordering activity requirements in the RFQ? - Answers The MAS Contractor
Select the correct response. Which is NOT a part of the evaluation process? - Answers Closeout
Evaluation
Select the correct response. The ordering activity Contracting Officer can terminate a Schedule
contract for cause: - Answers When the contractor fails to comply with any of the contract
terms and conditions
Select the three correct responses. What requirements does a CO need fulfill prior to
terminating a contract for cause? - Answers Review contract to identify any applicable clauses
Include in order file a record of dates the contractor received notices
Include in order file copies of all documentation to and from the contractor
Select the two correct responses. An ordering activity must notify GSA when the following
occurs. - Answers When fraud is suspected related to a Schedule contract
A Schedule order is terminated for cause
Select the correct response. According to FAR subpart 8.406-5, the ordering activity has the
right to terminate all or part of
an order when it is in the Govemment's best interest. What type of termination is this? - Answers
