Contracting DAWIA Certification Exam Prep Course
Pt 2 Pre-Award questions with accurate answers
_______ means a cash fund of a fixed amount established by an advance
of funds, without charge to an appropriation, from an agency finance or
disbursing officer to a duly appointed cashier, for disbursement as
needed from time to time in making payment in cash for relatively small
amounts. Ans✓✓✓ imprest fund
__________ means collecting and analyzing information about
capabilities within the market to satisfy agency needs Ans✓✓✓ market
research
___________ is a method of contracting that employs competitive bids,
public openings of bids, and awards. Ans✓✓✓ sealed bidding
A _________ may only be used if it is not possible at the time of placing
the contract or order to accurately estimate the extent or duration of the
work or to anticipate costs with any reasonable degree of confidence
Ans✓✓✓ Time and Materials Contract
A __________ identifies and characterizes gaps in existing capabilities
that are impediments to achieving the mission area objectives. This can
help the Gov revalidate and review existing needs, or be an initial step
toward a new development or process Ans✓✓✓ Needs assessment
A change to solicitation is called a(n) Ans✓✓✓ amendment c
,A chosen contract type should result in a reasonable degree of risk
between the Gov and KTR, and at a minimum, the appraisal of cost risk
should consider two areas of particular concern --- ________ risk and
______ risk Ans✓✓✓ contract performance risk and market risk
A contract awarded using other than sealed bidding procedures is a
_______________ Ans✓✓✓ negotiated contract
A contract clause might?
a. require a KTR to deliver an item by a specific date
b. tell an offeror the max number of pages that can be included in a
proposal
c. announce the time and place for a pre-proposal conference
d. establish a bid opening time and date Ans✓✓✓ require the KTR to
deliver an item by a specific date
A fixed-price contract with economic price adjustment might be
applicable when:
a. Market or labor conditions are stable
b. Market or labor conditions are volatile
c. Contingencies that would otherwise be included in the contract price
can be identified and covered separately in the contract
d. Contingencies that would otherwise be included in the contract price
cannot be identified and covered separately in the contract Ans✓✓✓ b.
Market or labor conditions are volatile
, c. Contingencies that would otherwise be included in the contract price
can be identified and covered separately in the contract
A fixed-price incentive (firm target) (FPI(F)) contract specifies a target
cost, a target profit, a price ceiling (but not a profit ceiling or floor), and
a profit adjustment formula. When the contractor completes
performance, the parties negotiate the final cost, and the final price is
established by applying the formula. When the final cost is less than the
target cost, application of the formula results in a final profit _______
than the target profit Ans✓✓✓ greater
A KTR is developing their pricing strategy in a competitive
environment. Knowing the required effort will result in follow-on
contracts, the KTR submits an offer below anticipated costs with the
plan to recover any losses by increasing the price on follow-on efforts.
This pricing strategy is referred to as: Ans✓✓✓ Buying in
A product, other than real property, that is of a type customarily used by
the general public or by nongovernmental entities for purposes other
than governmental purposes, and-(i) Has been sold, leased, or licensed to
the general public; or(ii) Has been offered for sale, lease, or license to
the general public; is known as a Ans✓✓✓ commercial product
A requirements analysis is essential for establishing high level
objectives, and assist in writing the _____ and producing the _____
Ans✓✓✓ Performance Work Statement and Quality Assurance
Surveillance Plan
Pt 2 Pre-Award questions with accurate answers
_______ means a cash fund of a fixed amount established by an advance
of funds, without charge to an appropriation, from an agency finance or
disbursing officer to a duly appointed cashier, for disbursement as
needed from time to time in making payment in cash for relatively small
amounts. Ans✓✓✓ imprest fund
__________ means collecting and analyzing information about
capabilities within the market to satisfy agency needs Ans✓✓✓ market
research
___________ is a method of contracting that employs competitive bids,
public openings of bids, and awards. Ans✓✓✓ sealed bidding
A _________ may only be used if it is not possible at the time of placing
the contract or order to accurately estimate the extent or duration of the
work or to anticipate costs with any reasonable degree of confidence
Ans✓✓✓ Time and Materials Contract
A __________ identifies and characterizes gaps in existing capabilities
that are impediments to achieving the mission area objectives. This can
help the Gov revalidate and review existing needs, or be an initial step
toward a new development or process Ans✓✓✓ Needs assessment
A change to solicitation is called a(n) Ans✓✓✓ amendment c
,A chosen contract type should result in a reasonable degree of risk
between the Gov and KTR, and at a minimum, the appraisal of cost risk
should consider two areas of particular concern --- ________ risk and
______ risk Ans✓✓✓ contract performance risk and market risk
A contract awarded using other than sealed bidding procedures is a
_______________ Ans✓✓✓ negotiated contract
A contract clause might?
a. require a KTR to deliver an item by a specific date
b. tell an offeror the max number of pages that can be included in a
proposal
c. announce the time and place for a pre-proposal conference
d. establish a bid opening time and date Ans✓✓✓ require the KTR to
deliver an item by a specific date
A fixed-price contract with economic price adjustment might be
applicable when:
a. Market or labor conditions are stable
b. Market or labor conditions are volatile
c. Contingencies that would otherwise be included in the contract price
can be identified and covered separately in the contract
d. Contingencies that would otherwise be included in the contract price
cannot be identified and covered separately in the contract Ans✓✓✓ b.
Market or labor conditions are volatile
, c. Contingencies that would otherwise be included in the contract price
can be identified and covered separately in the contract
A fixed-price incentive (firm target) (FPI(F)) contract specifies a target
cost, a target profit, a price ceiling (but not a profit ceiling or floor), and
a profit adjustment formula. When the contractor completes
performance, the parties negotiate the final cost, and the final price is
established by applying the formula. When the final cost is less than the
target cost, application of the formula results in a final profit _______
than the target profit Ans✓✓✓ greater
A KTR is developing their pricing strategy in a competitive
environment. Knowing the required effort will result in follow-on
contracts, the KTR submits an offer below anticipated costs with the
plan to recover any losses by increasing the price on follow-on efforts.
This pricing strategy is referred to as: Ans✓✓✓ Buying in
A product, other than real property, that is of a type customarily used by
the general public or by nongovernmental entities for purposes other
than governmental purposes, and-(i) Has been sold, leased, or licensed to
the general public; or(ii) Has been offered for sale, lease, or license to
the general public; is known as a Ans✓✓✓ commercial product
A requirements analysis is essential for establishing high level
objectives, and assist in writing the _____ and producing the _____
Ans✓✓✓ Performance Work Statement and Quality Assurance
Surveillance Plan
