Contracting Test #2 Flashcards
1
Q
Problem
A
…is simply the difference between what you have and what you want
2
Q
Problem solving
A
….is the act of defining a problem; determining the cause of the problem; identifying, prioritizing and selecting alternatives for a solution; and implementing a solution.
3
Q
Decision Making
A
…used to select the best course of action
4
Q
Basic Problem Solving/Decision Making Steps (6)
A
- DEFINE the Problem:
- ANALYZE Potential Causes
- IDENTIFY Possible Solutions:
- ANALYZE and compare alternatives
- SELECT an alternative(s)
- IMPLEMENT the selected alternative(s) and Evaluate Progress
5
Q
Problem Statement is comprised of what three parts?
A
Current situation
Impact
Desired status
6
Q
3 Types of Brainstorming
A
Structured Brainstorming
Free-form Brainstorming
Silent Brainstorming
7
Q
Advantage(s) of Silent Brainstorming
A
Prevents disruptive analysis
More open if anonymous
8
Q
Disadvantage(s) of Silent Brainstorming
A
Group loses synergy that comes from open session
9
Q
What “type of statement” includes three parts: Current Situation, Impact and Desired Status?
A
Problem Statement
10
Q
What are the TWO types of contracts
A
Fixed Type
Cost Reimbursable Type
11
Q
Define Fixed Type Contract
A
Technical requirements and cost are certain
Work can be clearly defined
Deliver or Default
12
Q
Cost Reimbursable
A
Costs cannot be estimated with any certainty
Work may not be clearly defined
Amount of tasks may not be known
Contractor is required to deliver “best effort”
13
Q
Line of Accounting is how many characters?
A
65
14
Q
a document, sent to prospective offerors to request information
A
Solicitation
15
Q
What are the THREE SOLICITATION types?
A
Request for Quotation
Invitation for Bid
Request for Proposal
16
Q
Where can you find Request for Quotation in the FAR?
A
FAR Part 13
Simplified Acquisition Procedures
17
Q
Where can you find Invitation for Bid in the FAR?
A
FAR Part 14
Sealed Bidding
18
Q
Where can you find Request for Proposal in the FAR?
A
FAR Part 15
Negotiation
19
Q
FAR Part 13
A
Simplified Acquisition Procedures
20
Q
FAR Part 14
A
Sealed Bidding
21
Q
FAR Part 15
A
Negotiation
22
Q
Simplified Acquisition Choices
A
Micro-purchases
Purchases orders
Agreements
23
Q
Multi purpose pocket size purchase order form
A
SF 44
24
Q
TWO types of Agreements
A
Basic Order Agreement
Blanket Purchase Agreement
25
When is a BPA appropriate?
Repetitive Need
26
Preferred Method of Procurement
Sealed Bidding
27
Sealed Bidding requires what type of contract?
Firm Fixed Price with an Economic Price Adjustment (FP-EA)
28
Solicitation method for simplified acquisition procedures
Request for Quote
29
Solicitation method for sealed bidding
Invitation for Bid
30
Solicitation method for contracting by negotiation
Request for Proposal
31
Which type of contract requires a vendor to give their "best effort"?
Cost Reimbursement
32
What are two most common types of best value evaluations?
Lowest Price Technically Acceptable (LPTA) and Trade Off
33
Define Best Value
The award will be made based on factors other than just cost or price
34
FAR Part 16
Contract Types
35
Factors in Determining Contract Type
- Price competition
- Price Analysis
- Cost Analysis
- Type and complexity of the requirement
- Urgency of the requirement
- Period of performance or length of production run
- Contractor's technical capability and financial responsibility
- Adequacy of contractor's accounting system
- Concurrent contracts
- Extent and nature of proposed subcontract
- Acquisition history
36
Preferred contract type
Fixed Price Contract
37
Different Types of Fixed Price Contracts
1. Firm Fixed Price (FFP)
2. Fixed Price with Economic Price Adjustment (FP-EPA)
3. Firm Fixed Price, Level of Effort Term (FFP LOE)
4. Fixed Price Incentive Firm (FPIF)
38
A Fixed Price Contract type allows for upward and downward revision of the stated contract price upon the occurrence of SPECIFIED CONTINGENCIES
Fixed Price Contracts with Economic Price Adjustment
39
Government reimburses ALLOWABLE and ALLOCABLE incurred costs, to the extent prescribed in the contract
Cost Reimbursement Contracts
40
Different Types of Cost Reimbursement Contracts
1. Cost Plus Incentive Fee (CPIF)
2. Cost Plus Fixed Fee (CPFF)
3. Cost Plus Award Fee (CPAF)
4. Time and Material
41
Type of Cost Reimbursement contract tied to Cost, Schedule and Performance
CPIF: Cost Plus Incentive Fee
42
Requirements may not be clearly defined which results in which type of contract
Cost Reimbursement Contract
43
Which type of contracts require vendors to provide their best effort?
Cost Reimbursement Contract
44
There’s a serious doubt about the stability of market or labor and conditions during an extended period during a specified contingency, a recommended fixed price contract type to use is what?
Fixed Price with an Economic Price Adjustment
45
Which type of contract arrangement puts the risk 100% on the contractor?
Firm Fixed Price
46
Which type of contract arrangement puts the risk 100% on the Government?
Cost Reimbursement
47
What type of contract must be awarded for a commercial item?
Firm Fixed Price
48
How long do you have to definitize a letter contract?
180 days or 40% complete
49
What is needed to award a time and materials contract?
Determination and Findings
50
FAR Part 17
Special Contracting Methods
51
Define multi-year contract
a contract for the purchase of supplies OR services for more than 1, but not more than 5, program years;
requires congressional approval
52
Multi-year contracts require...
Congressional approval
53
Does not require congressional approval
Multiple Year Contracts
54
Types of Indefinite Delivery Contracts
Definite Quantity
Requirements
Indefinite Quantity
55
Indefinite Delivery Indefinite Quantity (IDIQ) Contract require
a stated minimum and stated maximum
56
A contract for supplies that does not procure or specify a firm quantity
Delivery Order Contract
57
A contract for services that does not procure or specify a firm quantity of services
Task Order Contract
58
What FAR covers Multi-year and Multiple year contracts?
FAR Part 17
59
Multiyear supply/service contracts will not exceed how many years?
5 years; Base year + 4 option years
60
To exercise an option you need what written justification?
Determination and Findings (D&F)
61
What Indefinite delivery contract requires a guaranteed minimum and a maximum?
IDIQ
62
Key thing for an indefinite delivery contract?
May not be able to specify required delivery/quantity
63
What is an option?
Unilateral right by the Government to extend contract for another year
64
When can an option be exercised?
D&F, funds available
65
What is a multiple year contract?
Base + options, does not need congressional approval
66
FAR Part 11
Describing Agency Needs
67
What is a requirements document?
Document(s) attached to the purchase request that describes and/or specifies the requirement to be acquired
68
Purchase request form
DA 3953
69
Define Commercial Item
Item that has been or will be sold to the general public
70
5 Types of Requirements Documents
1. Commercial Item Descriptions
2. Performance Work Statement
3. Specifications
4. Government Standard
5. Industry Standard
71
Who is responsible in a SOW, if the result is unacceptable?
the Government
72
Three types of Specifications
1. Design specifications
2. Functional specifications
3. Performance specification
73
Documents that describe a performance outcome rather than how to achieve that outcome?
Performance Work Statement
74
Preferred contracting method
Performance Based Contracting
75
Act that applies if the SERVICE contract exceeds $2,500
Service Contract Act of 1965
76
Service Contract Act of 1965 requires that ___________ are included
wage rates
77
Primary/preferred method of contract for construction is?
Sealed Bidding
78
A performance evaluation must be prepared for contracts when?
1. ALL contracts over $700,000 AND
| 2. any construction contract, regardless of value, if terminated for default
79
What is required for certain construction contracts that are in excess of $250,000
Independent Government Estimate (IGE)
80
A construction specification must conform to which part of the FAR?
FAR Part 11
81
What act support US socio-economic goals?
Buy American Act
82
Which amendment states that the DoD must buy textiles, fibers, yarns, fabrics or materials grown, reprocessed, reused or produced in the US
Berry amendment
83
What is bundling?
Consolidating two or more requirements into a solicitation for a single contract
84
When is J&A required?
Sole Source Requirement
85
Performance Work Statements are the preferred method of describing agency requirements. True or False
True
86
FAR Part 5
Publicizing Contract Actions
87
Why must Contracting Officers publicize contract actions?
- Increase competition
- Broaden industry participation
- Assist small business concerns
88
What is a synopsis?
a SNAPSHOT of the requirement that the government is trying to fulfill
89
Where is a synopsis posted?
FedBizOpps
90
What is FedBizOpps?
designated Government-wide electronic point of entry (GPE) where agencies post information on procurements over $25,000
91
What is the response time for solicitations on non commercial items?
30 days
92
What is the response time for solicitations for R and D actions that exceed $250,000?
45 days
93
What are exceptions to publicizing?
- Unusual and compelling urgency
- Foreign military sales
- Required by statute
- Compromise national security
94
Synopsis time requirement for non-commercial items
15 days
95
KO has the OPTION to publish a synopsis/solicitation for ____________ items.
commercial
96
Type of contract that allows reimbursement of direct labor and the cost of material
Time and Material
97
FAR Part 1
Federal Acquisitions Regulations System
98
What act applies to construction contracts that states if in excess of $2000, wage rates must be included
Davis Bacon Act
99
What is Determination and Findings?
a rationale business decision that happens after the contract has been awarded
100
What is a CLIN?
Contract Line Item Number
101
What elements go into a CLIN structure?
- Unit Price
- Item Description
- Delivery Schedule
- Accounting classification
102
Are all sub-lined items prices?
NO.
103
When a CLIN is sent out, what part(s) is left blank for the contractor to fill out?
unit price
| amount
104
Threshold to post on FedBizOps
exceeds $25,000
105
Contracts between $_______ - ________are publicly displayed
$15,000 - $25,000
106
Fixed Price Incentive Fee encourages the contractor to________.
Reduce costs
107
Preferred statement = _______________.
Performance Work Statement
108
Statement of work is the ________ preferred.
Least
109
If we terminate for default on a construction contract, regardless of dollar amount, what must happen?
a performance evaluation
110
Document required for publication of commercial items
Combined synopsis solicitation
111
Information required for a synopsis
```
Place of performance
Description
Competition requirement
Quantity
Date Solicitation will Be Published
```
112
How long is a synopsis posted on FedBizOps?
15 days
113
What do CLINs specify?
Products or services being procured
