FAC 023 EXAM STUDY WITH
COMPLETE SOLUTIONS
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. - Correct 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: - Correct 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: - Correct 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. - Correct Answers -True.
Select the correct response. Which is not a "best value factor" for Procurement of
Services? - Correct Answers -Incapable key personnel
True or False? Order administration focuses on obtaining quality services and supplies
on time and within budget. - Correct Answers -True.
True or False? Utilizing a best value determination eliminates the consideration of price.
- Correct Answers -False.
Credit towards an agency's socioeconomic goals can be met through the GSA Multiple
Award Schedules Program. Select the correct response. - Correct Answers -True.
True or False? Schedule orders may be awarded on a sole-source or brand-name basis
as required by the order activity. - Correct Answers -True.
, True or False? For orders up to $750,000 it is required that an Agency senior
procurement executive approves the purchase. - Correct Answers -False.
True or False? As required by FAR subpart 4.501, the ordering activity must publish a
notice after placing an order or establishing a BPA exceeding the Simplified Acquisition
Threshold that is supported by a limited sources justification. - Correct Answers -False.
Ordering activities cannot require a MAS Schedule contractor to submit a re-
representation of business size at the order
level. Select the correct response - Correct Answers -False.
The Multiple Award Schedule (MAS) contract size standard certification is generally
valid for 5 years. Select the correct response. - Correct Answers -True.
Contracting Officers may, at their discretion, set-aside Schedule orders or BPAs for
small business concems. Select the correct response. - Correct 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 - Correct Answers -True.
Select the correct response. Which is NOT a benefit of a Blanket Purchase Agreement
(BPA)? - Correct 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? - Correct Answers -The MAS
Contractor
Select the correct response. Which is NOT a part of the evaluation process? - Correct
Answers -Closeout Evaluation
Select the correct response. The ordering activity Contracting Officer can terminate a
Schedule contract for cause: - Correct 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? - Correct 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
COMPLETE SOLUTIONS
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. - Correct 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: - Correct 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: - Correct 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. - Correct Answers -True.
Select the correct response. Which is not a "best value factor" for Procurement of
Services? - Correct Answers -Incapable key personnel
True or False? Order administration focuses on obtaining quality services and supplies
on time and within budget. - Correct Answers -True.
True or False? Utilizing a best value determination eliminates the consideration of price.
- Correct Answers -False.
Credit towards an agency's socioeconomic goals can be met through the GSA Multiple
Award Schedules Program. Select the correct response. - Correct Answers -True.
True or False? Schedule orders may be awarded on a sole-source or brand-name basis
as required by the order activity. - Correct Answers -True.
, True or False? For orders up to $750,000 it is required that an Agency senior
procurement executive approves the purchase. - Correct Answers -False.
True or False? As required by FAR subpart 4.501, the ordering activity must publish a
notice after placing an order or establishing a BPA exceeding the Simplified Acquisition
Threshold that is supported by a limited sources justification. - Correct Answers -False.
Ordering activities cannot require a MAS Schedule contractor to submit a re-
representation of business size at the order
level. Select the correct response - Correct Answers -False.
The Multiple Award Schedule (MAS) contract size standard certification is generally
valid for 5 years. Select the correct response. - Correct Answers -True.
Contracting Officers may, at their discretion, set-aside Schedule orders or BPAs for
small business concems. Select the correct response. - Correct 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 - Correct Answers -True.
Select the correct response. Which is NOT a benefit of a Blanket Purchase Agreement
(BPA)? - Correct 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? - Correct Answers -The MAS
Contractor
Select the correct response. Which is NOT a part of the evaluation process? - Correct
Answers -Closeout Evaluation
Select the correct response. The ordering activity Contracting Officer can terminate a
Schedule contract for cause: - Correct 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? - Correct 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
