Contracting Exam 2 questions correctly answered to pass

Contracting Exam 2 questions
correctly answered to pass

Should begin as soon as the agency need is identified - correct answer ✔✔ *ROLL TIDE*

When does Acquisition planning begin?



FAR Part 7 - correct answer ✔✔ Where are Acquisition plans found in the FAR?



collecting and analyzing information about capabilities within the market to satisfy agency
needs - correct answer ✔✔ What is market research?



It depends upon factors such as:

- Urgency

- Estimated dollar value

- Complexity

- Past experience

- Amount of info already available - correct answer ✔✔ *ROLL TIDE*

How much market research should we do?



1) Strategic market research

- On-going

- Not specific

2) Tactical market research

- Focused

- Specific - correct answer ✔✔ *ROLL TIDE*

, What are the two types of market research and how do they differ?



- System for Award Management-www.sam.gov

- FedBizOps

- Catalogs

- Trade shows

- Historical acquisition data

- GSA Advantage - Federal Supply Schedules

- Electronic Document Access (EDA) - correct answer ✔✔ What are some potential sources for
conducting market research?



Commercial off-the-shelf - correct answer ✔✔ *ROLL TIDE*

Gov't preferred approach to acquisition



51% - correct answer ✔✔ *ROLL TIDE*

The product is considered commercial if it retains ____ of its original functionality



Describing Agency Needs - correct answer ✔✔ *ROLL TIDE*

FAR Part 11



Acquisition of Commercial Items - correct answer ✔✔ *ROLL TIDE*

FAR Part 12



- Agency Inventories

- Excess from other agencies

- Federal Prison Industries, Inc. (Also known as UNICOR)