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- Multi-year contracting is a special contracting method. Special contracting methods are found in FAR part ____. (exam) 16 17 12 13 - Correct Answer- Which Indefinite delivery contract requires the customer to order and the seller to furnish a guaranteed minimum? (exam) Definite Quantity Contract Requirements Contract Indefinite Delivery/ Indefinite Quantity Contract Basic Ordering Agreement - Correct Answer-Indefinite Delivery/ Indefinite Quantity Contract A Synopsis should be posted on: (exam) CCR ORCA FedBizOps CPARS - Correct Answer-FedBizOps Which of the following is the Government's preferred method of describing agencies requirements? (exam) Design specification Statement of work Performance work statement All of the answers are wrong - Correct Answer-Performance work statement What type of data is not included in the synopsis? (exam) Estimated quantity Place of performance Names of vendors bidding
Description of action - Correct Answer-Names of vendors bidding Contracting Officers must establish a response time that will afford potential offerors a reasonable opportunity to respond to each proposed contract action. The normal response time for Research and Development actions that exceed the Simplified Acquisition Threshold is: (exam) 15 days 30 days 45 days 60 days - Correct Answer-45 days Contract actions between $______ and $25,000 must be posted in a public display area for advertisement. (synopsis in GPE) (exam) $10, $15, $20, None of the answers are right - Correct Answer-$15, Which contract type provides for upward and downward revision of stated contract price upon the occurrence of specified contingencies Cost Plus-Incentive-Fee Fixed Price With an Economic Price Adjustment Firm Fixed Price, Level of Effort Term Time and Materials - Correct Answer-Fixed Price With an Economic Price Adjustment If a contracting officer wants to exercise an option and it is in the best interest of the government, the contracting officer must include in the contract file a written justification known as a/an ________. Justification and Approval Determination and Findings Waiver Deviation - Correct Answer-Determination and Findings What contract type is appropriate for sealed bidding? Cost-Plus-Fixed-Fee (CPFF) Cost-Plus-Award-Fee (CPAF)
Best value Value engineering Cost realism Cost analysis - Correct Answer-Best Value Which type of contract requires the vendor to give their "Best Effort"? Firm Fixed Price BPA IDIQ Cost Reimbursable - Correct Answer-Cost Reimbursable The act of approving an unauthorized commitment by an official that has the authority to do so is known as a/an: Award Ratification Amendment Lawful Purpose - Correct Answer-Ratification Past performance information may be used in a source selection as a means of evaluating contractors. TRUE FALSE - Correct Answer-True There are __ elements of a legally binding contract. 4 5 6 2 - Correct Answer- An agreement that is not binding solely because the Government representative who made it lacked the authority to enter into that agreement is called a/an: Synopsis Contract Modification Unauthorized Commitment - Correct Answer-Unauthorized Commitment A party having the ability to understand and appreciate the terms and conditions of a contract is known as:
Mutual Assent Consideration Capacity Coordination - Correct Answer-Capacity There are only _____ provisions and _____ clauses that are mandatory for commercial item solicitations. You may need more depending upon your procurement. two; four two; two four; four None of the answers are right - Correct Answer-two; two A "meeting of the minds" is also known as: Capacity Consideration Mutual Assent a Contract - Correct Answer-Mutual Assent A term or condition used in both solicitations and contracts is known as a: Provision Clause Matrix FAR Part - Correct Answer-Clause A party that receives something of value and gives something of value is known as: Consensus Consideration Capacity Lawful Purpose - Correct Answer-Consideration Which type of modification requires only the contracting officer's signature. Bilateral Unilateral Letter contract Time and materials contract - Correct Answer-Unilateral What is the first thing you should do with a contract when one is assigned to you? a. A modification b. Read it
3 types of solicitations: - Correct Answer-1. Requests for Quotations (RFQs) - FAR 13
- Invitation for Bids (IFBs) - FAR 14
- Requests for Proposals (RFPs) - FAR 15 A written term or condition used only in Solicitations and applies only before contract award. - Correct Answer-Provision Bids _______ be submitted so that they will be received in the office designated in the invitation for bids not later than the ____________ set for the opening of bids. - Correct Answer-shall; exact time The objective of source selection is to select the ________. - Correct Answer-best value When is an indefinite delivery contract appropriate? - Correct Answer-Under certain conditions the Government may not be able to specify its required delivery and/or quantity or may not have sufficient funds for obligation of the entire needed quantity at that time Multiple Year Contracts does not require ______. - Correct Answer-Congressional Approval Indefinite Delivery Contracts (exam) - Correct Answer-Under certain conditions the Government may not be able to specify its required delivery and/or quantity or may not have sufficient funds for obligation of the entire needed quantity at that time. IDIQ (exam) - Correct Answer-An IDIQ contract provides for the procurement of an indefinite quantity of supplies and/or services : a. FAR requires the customer to order and the seller to furnish a Guaranteed Minimum Amount b. Contains Maximum or "Ceiling Price" limiting total value of the contract c. More than one vendor Task order contract (exam) - Correct Answer-A contract for services that does not procure or specify a firm quantity of services and that provides for the issuance of orders for the performance of tasks during the period of the contract
Delivery order contract (exam) - Correct Answer-A contract for supplies that does not procure or specify a firm quantity of supplies and that provides for the issuance of orders for the delivery of supplies during the period of the contract What FAR covers multi-year and multiple year contracts? - Correct Answer- To exercise an option you need what written justification? - Correct Answer-D&F What is an option? - Correct Answer-The governments' unilateral right in the contract whereby, for a specified time, the government may choose to purchase additional supplies or services or extend the term of the contract. What are the three types of indefinite delivery contracts? - Correct Answer-1. Definite Quantity Contract
- Requirements Contract
- Indefinite Quantity Contra When can an option be exercised? - Correct Answer-The KO must exercise the option prior to end date of the current period of performance. What requirements must be fulfilled to exercise an option? - Correct Answer-Contracting officer may exercise options only after determining that: a. Funds are available b. Option fulfills an existing need c. Option is the most advantageous method of fulfilling the need d. Option was synopsized IAW FAR Part 5 e. Determination and Findings What is a multi-year contract? (exam) - Correct Answer-Multi-year contract" means a contract for the purchase of supplies or services for more than 1, but not more than 5, program years. What does best value mean? - Correct Answer-The expected outcome of an acquisition that, in the Government's estimation, provides the greatest overall benefit in response to the requirement. Posting requirement of a Simplified Acquisition Threshold (SAT) (currently $150K): - Correct Answer-a. >$5.0- $15K advertised locally b. $15- $25K Public Display c. Over $25K advertised on FedBizOpps The ________ is the preferred method for micro-purchases
FAR Part 14 (exam) - Correct Answer-Sealed Bidding FAR PART 16 - Correct Answer-Types of Contracts Fixed Price puts the risk on the _______, while cost reimbursable puts the risk on the _________. (exam) - Correct Answer-contractor; government __________ contracts shall be firm-fixed price or fixed-price economic price adjustmen
- Correct Answer-Sealed bid D&Fs are commonly required in the following instances : - Correct Answer-a. Options b. Modifications, c. Time and Material Contracts No contract may be awarded before the execution of a __________ if required. - Correct Answer-Determination and Findings (D&F) FFP Is appropriate for: - Correct Answer-a. Commercial items b. Detailed specifications or engineering drawings a. Provides for upward and downward revision of the stated contract price upon the occurrence of specified contingencies. b. This contract type might be used when you had an item that contained a commodity that fluctuated over time such as petroleum. c. Gives both parties the right to re-adjust total contract amount. - Correct Answer-Fixed Price Contracts with Economic Price Adjustment A contract typically used for research. - Correct Answer-Firm Fixed Price, Level of Effort Term Contract _________ contracts provide for acquiring supplies or services on the basis of direct labor hours at specified fixed hourly rates that include wages, overhead, general and administrative expenses, and profit; and profit. What contract is used when it is not possible, at the time of award, to accurately estimate the extent or duration of the work or to anticipated future costs with a degree of confidence? (exam) - Correct Answer-Time and Materials Contracts
A written preliminary contractual instrument that authorizes the contractor to begin immediately manufacturing supplies or performing services; Must be definitized within 180 days or 40% completion - Correct Answer-Letter Conracts COST Reimbursable contracts require vendors to provide what time of outcome? - Correct Answer-Best effort What document must be completed prior to awarding a Time and Materials contract? - Correct Answer-D&F Special Contracting Methods - Correct Answer-Part 17 Three different types of brainstorming and advantages & disadvantages: (exam) - Correct Answer-Structured Brainstorming - Solicit one idea from each person in sequence A: Equal participation, regardless of rank or personality D: Lacks spontaneity and can be rigid
- Free-Form Brainstorming - Participants contribute ideas as they come to mind A: Participants build on each other's ideas in a relaxed atmosphere D: Less assertive (lower ranking participants may not contribute)
- Silent Brainstorming - sticky notes and post papers A: Prevents disruptive analysis and more open if anonymous D: Group loses synergy that comes from open session What are the 6 basic problem/decision making steps? (exam) - Correct Answer-1. Define the problem
- Analyze potential causes
- Identify possible solutions
- Analyze and compare alternatives
- Select an alternative
- Implement the selected alternatives and evaluate progress At the end, using the problem-solving steps will help to develop what conclusion? - Correct Answer-Problem Statement or Win Win situation What is a Commercial Item? - Correct Answer-Item that has been or will be sold to the general public; may require minor government directed modifications.
Documents attached to the purchase request that describe and/or specify the requirement to be acquired. (exam) - Correct Answer-Requirements Documents Documents that describe a performance outcome rather than how to achieve that outcome. (exam) - Correct Answer-Performance Work Statement (PWS)/Statement of Objectives (SOO) Specifications describe a technical requirement for a material or product that includes the criteria for determining whether these requirements are met. There are three types of specs: (exam) - Correct Answer-1. Design specifications
- Functional specifications
- Performance specification A United States Defense Standard, often called a military standard, _________ is used to help achieve standardization objectives by the U.S. Department of Defense. - Correct Answer-"MIL-STD", "MIL-SPEC", or (informally) "MilSpecs" Service Contract Act of 1965 applies if: (exam) - Correct Answer-a. Contract exceeds $2, b. Service contract c. Performance by other than executive, admin or professional employees d. Performed in the United States Primary method of contract for construction is ________. (exam) - Correct Answer- sealed bidding Must prepare a performance evaluation for all contracts over _________ and for any construction contract, regardless of value, if terminated for default. (exam) - Correct Answer-$700, Purchase Request (PR ) (exam) - Correct Answer-Customer created - forwarded to contracting PRs should contain the following: A description of what is to be acquired Fund citation Required delivery dates Delivery or performance location
Requiring activity point of contact 5 types of Requirements Documents (exam) - Correct Answer-Commercial Item Descriptions Performance Work Statement Specifications Government standard Industry Standard Performance Based contracting (exam) - Correct Answer-preferred contracting method How many steps to Performance Based Contracting? (exam) - Correct Answer--There are 7
- Establish the Team
- Decide what problem needs to be solved
- Examine private-sector and public sector solutions
- Develop a PWS or SOO
- Decide how to measure and manage performance
- Select the right contractor
- Manage performance Construction (exam) - Correct Answer-means construction, alteration, or repair (including dredging, excavating and painting) of buildings, structures, or other real property SF 25 - Performance Bond (exam) - Correct Answer-performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor Davis Bacon Act - Correct Answer-$2, If work that will alter or repair a public building, the _________ (exam) - Correct Answer-Davis Bacon applies ($2,000) Buy American Act (exam) - Correct Answer-Buy U.S. products over foreign manufacture Supports U.S. socio-economic goals Exceptions to the Act: -Are for use outside the US -Unreasonable cost -Domestic preference inconsistent with public interest -Are not mined, produced or manufactured in the US in sufficient quantities
What are exceptions to Publicizing? (exam) - Correct Answer-FAR 5. Synopsis cannot be worded to preclude disclosure of an agency's needs and disclosure would compromise national security Unusual and compelling urgency Foreign Military Sales (if source directed) Required by statute What is CLINs? - Correct Answer-Contract Line Item Numbers What information goes into a CLIN? What are the four elements that every CLIN must have? - Correct Answer-Unit price Item Description Delivery schedule Accounting Classification Contract Line Item Number (CLINs) specify what? - Correct Answer-the products or services being procured. Are all Sub-Lines priced? - Correct Answer-No they can be informational Types of Contracts? - Correct Answer-Fixed price cost reimbursement According to the FAR, unless otherwise approval in accordance with the agency procedures, the total of the basic and option periods shall not exceed _____________years in the case of services, and the total of the basic and option quantities shall not exceed the requirements for the ______years in the case of supplies. These limitations do not apply to information technology contracts. (exam) - Correct Answer-5; 5 Problem statement is divided into 3 parts? - Correct Answer-Current, impact, desired Structured Brainstorming - Solicit one idea from each person in sequence. What are the advantage and disadvantage. (exam) - Correct Answer-A: Equal participation, regardless of rank or personality D: Lacks spontaneity and can be rigid
Free-Form Brainstorming - Participants contribute ideas as they come to mind. What are the advantages and disadvantages? - Correct Answer-A: Participants build on each other's ideas in a relaxed atmosphere D: Less assertive (lower ranking participants may not contribute) Silent Brainstorming - sticky notes and post papers. What are the advantages and disadvantages? - Correct Answer-A: Prevents disruptive analysis and more open if anonymous D: Group loses synergy that comes from open session Statement of Work - Correct Answer-Detailed descriptions telling the contractor what to do and how to do it.
