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CON 091 EXAM | QUESTIONS & ANSWERS WITH COMPLETE SOLUTION

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CON 091 EXAM | QUESTIONS & ANSWERS WITH COMPLETE SOLUTION

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CON 091 EXAM | QUESTIONS &
ANSWERS (VERIFIED) | LATEST
UPDATE | GRADED A+




The FAR and What it Covers

Correct Answer: Part of a system established for the codification and publication of

uniform policies and procedures for acquisition.

*Federal Acquisition Regulation ( primary Doc)

*Agency Acquisition Regulations (implement and supplement)

* FAr is found in Charpter 1 of Title 48 of CFR



What are the Essence of the FAR?

Correct Answer: *Rules

*Polices and Procedures

* General Standards

* Not a "how to" guide for Acquiring goods and setvices.

-sound Business judgment

-Framed, or informrd, by rules, policies , and guidelines in the FAR



Where can you find the FAR?




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, Correct Answer: *www.aquisition.gov/

*www.ecfr.gov/

*in print from the GPO or private publishers



What agencies are subject to the FAR?

Correct Answer: The FAR applies to most executive agencies. The FAR does not

apply to legislative branch agencies or judicial branch agencies, although agencies in

the other branches of government (or otherwise not subject to the FAR) may adopt the

FAR as a matter of policy, or promulgate or otherwise be subject to requirements like

those in the FAR.The FAR does not directly regulate federal contractors or would-be

federal contractors, although such vendors are affected by the application of the FAR's

definitions, policies, procedures, and requirements by contracting officers



What purchases are subject to the FAR?

Correct Answer: The FAR covers the acquisition of supplies and services with

appropriated funds for most Executives agenice.

-FAR 2.101, acquisition

-FAR 2.101, the term supplies

-FAR 37.101 Services



Appropriated Funds

Correct Answer: Funds paid out of the U.S. Treasury that are charged to an

appropriation provided by or Derived from an act of congress {GAO red Book. 4TH ed.}




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