AF Contracting Officer Study Guide (unofficial) ACTUAL EXAM
AF Contracting Officer Study Guide (unofficial)
QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ GRADED 100%
Study online at https://quizlet.com/_29qju0
VERIFIED) LATEST VERSION 2025!!
1. *Source Selection* 1. Procedures to safeguard source selection informa-
FAR 1.602-2; 3.104-4; 15.207 tion.
(2016-05-31) 2. Approve access to/release source selection informa-
Q: What are the CO's responsibili- tion.
ties in source selection? 3. Maintain SS evaluation records.
2. *Source Selection* 1. Proper and efficient conduct of SS process.
2016 DoD Source Selection Manu-
al, 1.4.1.2 2. Appoint respective chairpersons.
(2016-05-31)
3. Establish SS team and ensure their knowledge of
Q: What are the SSA responsibili- policy/procedure.
ties?
4. Ensure pace is event and not schedule driven (real-
istic SS schedule).
3. *Financing* 1. Private financing (most preferred).
FAR 32.106
(2016-05-31) 2. Performance based payments.
Q: Name the different types of gov- 3. Customary progress payments.
ernment financing in order of their
4. Guaranteed loans.
preference
5. Unusual progress payments.
6. Advance payments (least preferred).
4. *Acquisition Strategy Panel (ASP)* Program manager, CO or Commodity Council Director
AFFARS 5307.104-92; AFICA MP prepares following the conclusion of the ASP briefing,
5307.104-92 and approved by the ASP chairperson.
(2016-05-31)
Q: Who prepares the ASP minutes,
, AF Contracting Officer Study Guide (unofficial)
Study online at https://quizlet.com/_29qju0
when are they prepared and who
approves them?
*AIR FORCE ONLY*
5. *Cost Analysis* Review and evaluation of separate elements and profit
FAR 15.404-1 (c) of contractor's proposal. The application of judgment
(2016-05-31) to determine how well proposed costs represent what
the cost of the contract should be assuming reason-
Q: What is cost analysis? able economy and efficiency. Techniques include ver-
ification of cost or pricing data and evaluation of cost
elements; projection of offeror's cost trends based on
current/historical cost/pricing data; audit and negoti-
ated indirect cost, labor and COM rates.
6. *IDIQ* 1. Minimum-Should be more than a nominal quantity
FAR 16.504 (a) but should not exceed amount the Government is fairly
(2016-05-31) certain to order.
Q: How does the PCO compute the 2. Maximum - A reasonable max should be established
minimum and maximum quantity by conducting market research trends on recent con-
on an IDIQ contract? tracts for similar supply/svcs, survey of potential users,
other rational basis.
7. *Estimating Systems* Estimating system is contractor's policies/proce-
FAR 15.407-5 dures/practices for generating estimates. Includes or-
(2016-05-31) ganizational structure, internal controls, and manage-
rial reviews, work flow, est methods, techniques, ac-
Q: Define estimating system and cumulation of historical costs and other analysis. Cost
cost reimbursement. reimbursement - Contractor's ability to accurately and
reliable estimate costs could lead to cost overruns and
increased risk for the Government.
, AF Contracting Officer Study Guide (unofficial)
Study online at https://quizlet.com/_29qju0
8. *Defective Pricing* 1. Information fits the definition of cost and pricing
FAR 15.407-1 data.
(2016-05-31)
2. Accurate data was available to the contractor before
Q: What are six conditions which the agreement on price.
must exist to have defective pric-
ing? 3. Data was not accurate, current, complete as of date
of agreement.
4. Data was not submitted to CO.
5. Government must have relied on the data.
6. An increase in cost as a result of Government reliance
on the data.
9. *Contract Elements* 1. Offer.
Common Law
(2016-05-31) 2. Acceptance.
Q: What are the essential elements 3. Consideration.
of a contract?
4. Lawful purpose.
5. Competency of parties.
6. Certainty of terms.
10. *Economy Act* Allows agencies to procure goods/services from other
31 U.S.C. 1535; FAR 17.502-2 agencies at cost, a D&F is required. Intra-agency, activity
(2016-05-31) within the Dod, you may not need D&F, Inter-agency,
activity outside DoD like DOE, D&F signed by General
Q: Describe the Economy Act or SES. Economy act does not apply to FSS acquisitions
, AF Contracting Officer Study Guide (unofficial)
Study online at https://quizlet.com/_29qju0
under FAR 8 or GSA, FPI, and other required sources of
supplies.
11. *Contract Award* Sufficient funds are available to be obligated for mini-
FAR 32.703-2 mum order quantity.
(2016-05-31)
Q: You have just completed a long
and complex negotiation for a
large IDIQ contract and are ready
to make award. In terms of fund-
ing, what must you ensure before
awarding this contract?
12. *Funds* 1. Current - funds available for obligation.
DoD Financial Management Regu- 2. Expired - funds available only for recording, adjust-
lation, Volume 3, Chapter 10, Ap-
ing and liquidating obligations properly chargeable
pendix C to the appropriation. Funding in this phase remains
(2016-05-31) available for 5 years from the year the appropriation
expires, regardless of the appropriation type.
Q: When speaking of funds, what 3. Cancelled - funds not available for any purpose.
does "Current", "Expired", and
"Cancelled" funds mean?
13. *Finance* Appropriated funds will be obligated for effort that
US Code, Title 31, Section 1502(a); is a current, valid (legitimate) need/requirement that
DoD Financial Management Reg- arises during the FY that the funding was appropriated.
ulation (FMR) 7000.14-R, Volume (i.e. current dollars for current needs). Current needs
11A, Paragraph 020510 typically defined by when agency will use item or re-
(2016-05-31) ceive service. Can have lead-time exceptions.
Q: What is the Bona Fide Need
rule?
AF Contracting Officer Study Guide (unofficial)
QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ GRADED 100%
Study online at https://quizlet.com/_29qju0
VERIFIED) LATEST VERSION 2025!!
1. *Source Selection* 1. Procedures to safeguard source selection informa-
FAR 1.602-2; 3.104-4; 15.207 tion.
(2016-05-31) 2. Approve access to/release source selection informa-
Q: What are the CO's responsibili- tion.
ties in source selection? 3. Maintain SS evaluation records.
2. *Source Selection* 1. Proper and efficient conduct of SS process.
2016 DoD Source Selection Manu-
al, 1.4.1.2 2. Appoint respective chairpersons.
(2016-05-31)
3. Establish SS team and ensure their knowledge of
Q: What are the SSA responsibili- policy/procedure.
ties?
4. Ensure pace is event and not schedule driven (real-
istic SS schedule).
3. *Financing* 1. Private financing (most preferred).
FAR 32.106
(2016-05-31) 2. Performance based payments.
Q: Name the different types of gov- 3. Customary progress payments.
ernment financing in order of their
4. Guaranteed loans.
preference
5. Unusual progress payments.
6. Advance payments (least preferred).
4. *Acquisition Strategy Panel (ASP)* Program manager, CO or Commodity Council Director
AFFARS 5307.104-92; AFICA MP prepares following the conclusion of the ASP briefing,
5307.104-92 and approved by the ASP chairperson.
(2016-05-31)
Q: Who prepares the ASP minutes,
, AF Contracting Officer Study Guide (unofficial)
Study online at https://quizlet.com/_29qju0
when are they prepared and who
approves them?
*AIR FORCE ONLY*
5. *Cost Analysis* Review and evaluation of separate elements and profit
FAR 15.404-1 (c) of contractor's proposal. The application of judgment
(2016-05-31) to determine how well proposed costs represent what
the cost of the contract should be assuming reason-
Q: What is cost analysis? able economy and efficiency. Techniques include ver-
ification of cost or pricing data and evaluation of cost
elements; projection of offeror's cost trends based on
current/historical cost/pricing data; audit and negoti-
ated indirect cost, labor and COM rates.
6. *IDIQ* 1. Minimum-Should be more than a nominal quantity
FAR 16.504 (a) but should not exceed amount the Government is fairly
(2016-05-31) certain to order.
Q: How does the PCO compute the 2. Maximum - A reasonable max should be established
minimum and maximum quantity by conducting market research trends on recent con-
on an IDIQ contract? tracts for similar supply/svcs, survey of potential users,
other rational basis.
7. *Estimating Systems* Estimating system is contractor's policies/proce-
FAR 15.407-5 dures/practices for generating estimates. Includes or-
(2016-05-31) ganizational structure, internal controls, and manage-
rial reviews, work flow, est methods, techniques, ac-
Q: Define estimating system and cumulation of historical costs and other analysis. Cost
cost reimbursement. reimbursement - Contractor's ability to accurately and
reliable estimate costs could lead to cost overruns and
increased risk for the Government.
, AF Contracting Officer Study Guide (unofficial)
Study online at https://quizlet.com/_29qju0
8. *Defective Pricing* 1. Information fits the definition of cost and pricing
FAR 15.407-1 data.
(2016-05-31)
2. Accurate data was available to the contractor before
Q: What are six conditions which the agreement on price.
must exist to have defective pric-
ing? 3. Data was not accurate, current, complete as of date
of agreement.
4. Data was not submitted to CO.
5. Government must have relied on the data.
6. An increase in cost as a result of Government reliance
on the data.
9. *Contract Elements* 1. Offer.
Common Law
(2016-05-31) 2. Acceptance.
Q: What are the essential elements 3. Consideration.
of a contract?
4. Lawful purpose.
5. Competency of parties.
6. Certainty of terms.
10. *Economy Act* Allows agencies to procure goods/services from other
31 U.S.C. 1535; FAR 17.502-2 agencies at cost, a D&F is required. Intra-agency, activity
(2016-05-31) within the Dod, you may not need D&F, Inter-agency,
activity outside DoD like DOE, D&F signed by General
Q: Describe the Economy Act or SES. Economy act does not apply to FSS acquisitions
, AF Contracting Officer Study Guide (unofficial)
Study online at https://quizlet.com/_29qju0
under FAR 8 or GSA, FPI, and other required sources of
supplies.
11. *Contract Award* Sufficient funds are available to be obligated for mini-
FAR 32.703-2 mum order quantity.
(2016-05-31)
Q: You have just completed a long
and complex negotiation for a
large IDIQ contract and are ready
to make award. In terms of fund-
ing, what must you ensure before
awarding this contract?
12. *Funds* 1. Current - funds available for obligation.
DoD Financial Management Regu- 2. Expired - funds available only for recording, adjust-
lation, Volume 3, Chapter 10, Ap-
ing and liquidating obligations properly chargeable
pendix C to the appropriation. Funding in this phase remains
(2016-05-31) available for 5 years from the year the appropriation
expires, regardless of the appropriation type.
Q: When speaking of funds, what 3. Cancelled - funds not available for any purpose.
does "Current", "Expired", and
"Cancelled" funds mean?
13. *Finance* Appropriated funds will be obligated for effort that
US Code, Title 31, Section 1502(a); is a current, valid (legitimate) need/requirement that
DoD Financial Management Reg- arises during the FY that the funding was appropriated.
ulation (FMR) 7000.14-R, Volume (i.e. current dollars for current needs). Current needs
11A, Paragraph 020510 typically defined by when agency will use item or re-
(2016-05-31) ceive service. Can have lead-time exceptions.
Q: What is the Bona Fide Need
rule?
