CON1200 EXAM STUDY GUIDE REVISION
QUESTIONS NEWEST UPDATE
What are the two types of contract modifications? - ANS bilateral and unilateral
T/F: Overriding goal of a private sector-for-profit company is to maximize value of company to
shareholders. - ANS True
T/F: Best way to win a contract award is to start the proposal process when the solicitation is
released. There is little value to be gained by starting before then. - ANS False
T/F: There are many barriers to entry for companies wanting to do business with the
Government. - ANS True
Usually recovered as indirect costs on current and future Government contracts. - ANS Bid
and proposal costs.
Business Pipeline - ANS Process for measuring and enhancing business development
efforts
Which of the following statements about incumbent contractors is false? - ANS If incumbent
contractor is performing satisfactorily, Government can issue a sole source award to the
incumbent.
Involves identifying, acquiring, and managing resources and suppliers that are essential to the
operations of a company. - ANS Supplier Management
T/F: The more risk the company assumes, the more profit they expect to earn. - ANS True
What companies are included in the "Big 5"? - ANS Lockheed Martin, Boeing, Northrop
Grumman, Raytheon, and General Dynamics
What is driving small business suppliers, "an engine of innovation," out of the defense sector? -
ANS Uneven funding
Nontraditional Defense Contractor (NDC) - ANS Firms of all sizes and types that do not
provide defense-specific goods or services
What is the DoD goal? - ANS Fast delivery of cutting-edge innovation and new technologies
to keep its fighting forces equipped with the best weapon and support systems available.
,The DoD Office of Small Business Programs (OSBP) - ANS Helps small businesses
overcome barriers to entry and maximize opportunities for small businesses to contribute to
national security.
CMS - ANS Contract Management Standard
Two domains of the CMS: - ANS Domain A - Develop Solicitation
Domain B - Develop Offer
Pre-Award portion of the contract life cycle for industry is segmented into 3 phases, although
there is often overlapping between these phases: - ANS Business Development
Capture
Proposal Development
Core Competencies - ANS Capabilities or advantages that a business may have that
distinguish it from competition.
Develop Solicitation - ANS Buyer (Government agency) determines customer requirements,
then describes those requirements and other relevant terms/conditions through a solicitation to
the sellers.
What two competencies is Develop Solicitation made up of? - ANS Plan Solicitation and
Request Offers
Develop Offer - ANS Seller (industry) develops business practices/strategies in response to
solicitations, intending to win contract
What two competencies is the Pre-Award Phase and Develop Offer made up of? - ANS Plan
Sales and Prepare Offer
The following are strategic questions that a company must answer for itself: - ANS - What
business are we in?
- Who do we answer to?
- What differentiates us?
- What is our competency?
While ____ is about determining a corporate strategy, ____ is building the foundation for
opportunity assessment. - ANS Market Intelligence; Market Research
Market Intelligence - ANS Information about the market itself and is wider in scope
OFPP - ANS Office of Federal Procurement Policy
, Overriding goal of a private sector company: - ANS - Maximize company value to
shareholders
- Maximize profits or returns
- Minimize expenses
Motivations for companies to seek government contracts: - ANS - Market size
- Reliable revenue
- Mission outcome contribution
- Advantages for small, minority, veteran, women owned companies
Solutions identified by Government leaders to address the barriers: - ANS - Engage
suppliers early
- Simplify requirements
- Target programs for new/innovative suppliers
- Simplify and cost manage procurement process
- Invest in marketing and outreach to suppliers
What does transparency in business imply? - ANS Openness, communication, and
accountability
Differing perspectives between Government and Industry when it comes to transparency and
access to information: - ANS - Rules
- Risk
- Communication
- Competition
- Making the deal
- Opportunity
Teaming Agreements used in Conduct Procurements - ANS Generally, only apply to one
solicitation or specific Government program, limiting parties' obligations to one another.
Privity of Contract - ANS Contract may not confer rights/impose obligations except for
specific parties that have formed contract
Strategic Alliances - ANS Arrangement between two companies to undertake a mutually
beneficial project or achieve common business goals, while remaining independent.
Companies form a ______ that can be established to cover multiple solicitations and contracts. -
ANS Separate legal entity
Consortia - ANS - Entities agreeing to participate under common rule set.
- Organized along focused, product-oriented portfolios commonly associated with Other
Transaction Agreements.
QUESTIONS NEWEST UPDATE
What are the two types of contract modifications? - ANS bilateral and unilateral
T/F: Overriding goal of a private sector-for-profit company is to maximize value of company to
shareholders. - ANS True
T/F: Best way to win a contract award is to start the proposal process when the solicitation is
released. There is little value to be gained by starting before then. - ANS False
T/F: There are many barriers to entry for companies wanting to do business with the
Government. - ANS True
Usually recovered as indirect costs on current and future Government contracts. - ANS Bid
and proposal costs.
Business Pipeline - ANS Process for measuring and enhancing business development
efforts
Which of the following statements about incumbent contractors is false? - ANS If incumbent
contractor is performing satisfactorily, Government can issue a sole source award to the
incumbent.
Involves identifying, acquiring, and managing resources and suppliers that are essential to the
operations of a company. - ANS Supplier Management
T/F: The more risk the company assumes, the more profit they expect to earn. - ANS True
What companies are included in the "Big 5"? - ANS Lockheed Martin, Boeing, Northrop
Grumman, Raytheon, and General Dynamics
What is driving small business suppliers, "an engine of innovation," out of the defense sector? -
ANS Uneven funding
Nontraditional Defense Contractor (NDC) - ANS Firms of all sizes and types that do not
provide defense-specific goods or services
What is the DoD goal? - ANS Fast delivery of cutting-edge innovation and new technologies
to keep its fighting forces equipped with the best weapon and support systems available.
,The DoD Office of Small Business Programs (OSBP) - ANS Helps small businesses
overcome barriers to entry and maximize opportunities for small businesses to contribute to
national security.
CMS - ANS Contract Management Standard
Two domains of the CMS: - ANS Domain A - Develop Solicitation
Domain B - Develop Offer
Pre-Award portion of the contract life cycle for industry is segmented into 3 phases, although
there is often overlapping between these phases: - ANS Business Development
Capture
Proposal Development
Core Competencies - ANS Capabilities or advantages that a business may have that
distinguish it from competition.
Develop Solicitation - ANS Buyer (Government agency) determines customer requirements,
then describes those requirements and other relevant terms/conditions through a solicitation to
the sellers.
What two competencies is Develop Solicitation made up of? - ANS Plan Solicitation and
Request Offers
Develop Offer - ANS Seller (industry) develops business practices/strategies in response to
solicitations, intending to win contract
What two competencies is the Pre-Award Phase and Develop Offer made up of? - ANS Plan
Sales and Prepare Offer
The following are strategic questions that a company must answer for itself: - ANS - What
business are we in?
- Who do we answer to?
- What differentiates us?
- What is our competency?
While ____ is about determining a corporate strategy, ____ is building the foundation for
opportunity assessment. - ANS Market Intelligence; Market Research
Market Intelligence - ANS Information about the market itself and is wider in scope
OFPP - ANS Office of Federal Procurement Policy
, Overriding goal of a private sector company: - ANS - Maximize company value to
shareholders
- Maximize profits or returns
- Minimize expenses
Motivations for companies to seek government contracts: - ANS - Market size
- Reliable revenue
- Mission outcome contribution
- Advantages for small, minority, veteran, women owned companies
Solutions identified by Government leaders to address the barriers: - ANS - Engage
suppliers early
- Simplify requirements
- Target programs for new/innovative suppliers
- Simplify and cost manage procurement process
- Invest in marketing and outreach to suppliers
What does transparency in business imply? - ANS Openness, communication, and
accountability
Differing perspectives between Government and Industry when it comes to transparency and
access to information: - ANS - Rules
- Risk
- Communication
- Competition
- Making the deal
- Opportunity
Teaming Agreements used in Conduct Procurements - ANS Generally, only apply to one
solicitation or specific Government program, limiting parties' obligations to one another.
Privity of Contract - ANS Contract may not confer rights/impose obligations except for
specific parties that have formed contract
Strategic Alliances - ANS Arrangement between two companies to undertake a mutually
beneficial project or achieve common business goals, while remaining independent.
Companies form a ______ that can be established to cover multiple solicitations and contracts. -
ANS Separate legal entity
Consortia - ANS - Entities agreeing to participate under common rule set.
- Organized along focused, product-oriented portfolios commonly associated with Other
Transaction Agreements.
