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Acquisition Course Module 1 > Contracting Test #2 > Flashcards

Contracting Test #2 Flashcards

1
Q

Problem

A

…is simply the difference between what you have and what you want

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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.

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3
Q

Decision Making

A

…used to select the best course of action

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4
Q

Basic Problem Solving/Decision Making Steps (6)

A
  1. DEFINE the Problem:
  2. ANALYZE Potential Causes
  3. IDENTIFY Possible Solutions:
  4. ANALYZE and compare alternatives
  5. SELECT an alternative(s)
  6. IMPLEMENT the selected alternative(s) and Evaluate Progress
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5
Q

Problem Statement is comprised of what three parts?

A

Current situation
Impact
Desired status

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6
Q

3 Types of Brainstorming

A

Structured Brainstorming
Free-form Brainstorming
Silent Brainstorming

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7
Q

Advantage(s) of Silent Brainstorming

A

Prevents disruptive analysis

More open if anonymous

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8
Q

Disadvantage(s) of Silent Brainstorming

A

Group loses synergy that comes from open session

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9
Q

What “type of statement” includes three parts: Current Situation, Impact and Desired Status?

A

Problem Statement

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10
Q

What are the TWO types of contracts

A

Fixed Type

Cost Reimbursable Type

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11
Q

Define Fixed Type Contract

A

Technical requirements and cost are certain
Work can be clearly defined
Deliver or Default

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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”

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13
Q

Line of Accounting is how many characters?

A

65

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14
Q

a document, sent to prospective offerors to request information

A

Solicitation

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15
Q

What are the THREE SOLICITATION types?

A

Request for Quotation
Invitation for Bid
Request for Proposal

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16
Q

Where can you find Request for Quotation in the FAR?

A

FAR Part 13

Simplified Acquisition Procedures

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17
Q

Where can you find Invitation for Bid in the FAR?

A

FAR Part 14

Sealed Bidding

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18
Q

Where can you find Request for Proposal in the FAR?

A

FAR Part 15

Negotiation

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19
Q

FAR Part 13

A

Simplified Acquisition Procedures

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20
Q

FAR Part 14

A

Sealed Bidding

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21
Q

FAR Part 15

A

Negotiation

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22
Q

Simplified Acquisition Choices

A

Micro-purchases
Purchases orders
Agreements

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23
Q

Multi purpose pocket size purchase order form

A

SF 44

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24
Q

TWO types of Agreements

A

Basic Order Agreement

Blanket Purchase Agreement

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25
Q

When is a BPA appropriate?

A

Repetitive Need

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26
Q

Preferred Method of Procurement

A

Sealed Bidding

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27
Q

Sealed Bidding requires what type of contract?

A

Firm Fixed Price with an Economic Price Adjustment (FP-EA)

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28
Q

Solicitation method for simplified acquisition procedures

A

Request for Quote

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29
Q

Solicitation method for sealed bidding

A

Invitation for Bid

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30
Q

Solicitation method for contracting by negotiation

A

Request for Proposal

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31
Q

Which type of contract requires a vendor to give their “best effort”?

A

Cost Reimbursement

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32
Q

What are two most common types of best value evaluations?

A

Lowest Price Technically Acceptable (LPTA) and Trade Off

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33
Q

Define Best Value

A

The award will be made based on factors other than just cost or price

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34
Q

FAR Part 16

A

Contract Types

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35
Q

Factors in Determining Contract Type

A
  • 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
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36
Q

Preferred contract type

A

Fixed Price Contract

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37
Q

Different Types of Fixed Price Contracts

A
  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)
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38
Q

A Fixed Price Contract type allows for upward and downward revision of the stated contract price upon the occurrence of SPECIFIED CONTINGENCIES

A

Fixed Price Contracts with Economic Price Adjustment

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39
Q

Government reimburses ALLOWABLE and ALLOCABLE incurred costs, to the extent prescribed in the contract

A

Cost Reimbursement Contracts

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40
Q

Different Types of Cost Reimbursement Contracts

A
  1. Cost Plus Incentive Fee (CPIF)
  2. Cost Plus Fixed Fee (CPFF)
  3. Cost Plus Award Fee (CPAF)
  4. Time and Material
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41
Q

Type of Cost Reimbursement contract tied to Cost, Schedule and Performance

A

CPIF: Cost Plus Incentive Fee

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42
Q

Requirements may not be clearly defined which results in which type of contract

A

Cost Reimbursement Contract

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43
Q

Which type of contracts require vendors to provide their best effort?

A

Cost Reimbursement Contract

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44
Q

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?

A

Fixed Price with an Economic Price Adjustment

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45
Q

Which type of contract arrangement puts the risk 100% on the contractor?

A

Firm Fixed Price

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46
Q

Which type of contract arrangement puts the risk 100% on the Government?

A

Cost Reimbursement

47
Q

What type of contract must be awarded for a commercial item?

A

Firm Fixed Price

48
Q

How long do you have to definitize a letter contract?

A

180 days or 40% complete

49
Q

What is needed to award a time and materials contract?

A

Determination and Findings

50
Q

FAR Part 17

A

Special Contracting Methods

51
Q

Define multi-year contract

A

a contract for the purchase of supplies OR services for more than 1, but not more than 5, program years;
requires congressional approval

52
Q

Multi-year contracts require…

A

Congressional approval

53
Q

Does not require congressional approval

A

Multiple Year Contracts

54
Q

Types of Indefinite Delivery Contracts

A

Definite Quantity
Requirements
Indefinite Quantity

55
Q

Indefinite Delivery Indefinite Quantity (IDIQ) Contract require

A

a stated minimum and stated maximum

56
Q

A contract for supplies that does not procure or specify a firm quantity

A

Delivery Order Contract

57
Q

A contract for services that does not procure or specify a firm quantity of services

A

Task Order Contract

58
Q

What FAR covers Multi-year and Multiple year contracts?

A

FAR Part 17

59
Q

Multiyear supply/service contracts will not exceed how many years?

A

5 years; Base year + 4 option years

60
Q

To exercise an option you need what written justification?

A

Determination and Findings (D&F)

61
Q

What Indefinite delivery contract requires a guaranteed minimum and a maximum?

A

IDIQ

62
Q

Key thing for an indefinite delivery contract?

A

May not be able to specify required delivery/quantity

63
Q

What is an option?

A

Unilateral right by the Government to extend contract for another year

64
Q

When can an option be exercised?

A

D&F, funds available

65
Q

What is a multiple year contract?

A

Base + options, does not need congressional approval

66
Q

FAR Part 11

A

Describing Agency Needs

67
Q

What is a requirements document?

A

Document(s) attached to the purchase request that describes and/or specifies the requirement to be acquired

68
Q

Purchase request form

A

DA 3953

69
Q

Define Commercial Item

A

Item that has been or will be sold to the general public

70
Q

5 Types of Requirements Documents

A
  1. Commercial Item Descriptions
  2. Performance Work Statement
  3. Specifications
  4. Government Standard
  5. Industry Standard
71
Q

Who is responsible in a SOW, if the result is unacceptable?

A

the Government

72
Q

Three types of Specifications

A
  1. Design specifications
  2. Functional specifications
  3. Performance specification
73
Q

Documents that describe a performance outcome rather than how to achieve that outcome?

A

Performance Work Statement

74
Q

Preferred contracting method

A

Performance Based Contracting

75
Q

Act that applies if the SERVICE contract exceeds $2,500

A

Service Contract Act of 1965

76
Q

Service Contract Act of 1965 requires that ___________ are included

A

wage rates

77
Q

Primary/preferred method of contract for construction is?

A

Sealed Bidding

78
Q

A performance evaluation must be prepared for contracts when?

A
  1. ALL contracts over $700,000 AND

2. any construction contract, regardless of value, if terminated for default

79
Q

What is required for certain construction contracts that are in excess of $250,000

A

Independent Government Estimate (IGE)

80
Q

A construction specification must conform to which part of the FAR?

A

FAR Part 11

81
Q

What act support US socio-economic goals?

A

Buy American Act

82
Q

Which amendment states that the DoD must buy textiles, fibers, yarns, fabrics or materials grown, reprocessed, reused or produced in the US

A

Berry amendment

83
Q

What is bundling?

A

Consolidating two or more requirements into a solicitation for a single contract

84
Q

When is J&A required?

A

Sole Source Requirement

85
Q

Performance Work Statements are the preferred method of describing agency requirements. True or False

A

True

86
Q

FAR Part 5

A

Publicizing Contract Actions

87
Q

Why must Contracting Officers publicize contract actions?

A
  • Increase competition
  • Broaden industry participation
  • Assist small business concerns
88
Q

What is a synopsis?

A

a SNAPSHOT of the requirement that the government is trying to fulfill

89
Q

Where is a synopsis posted?

A

FedBizOpps

90
Q

What is FedBizOpps?

A

designated Government-wide electronic point of entry (GPE) where agencies post information on procurements over $25,000

91
Q

What is the response time for solicitations on non commercial items?

A

30 days

92
Q

What is the response time for solicitations for R and D actions that exceed $250,000?

A

45 days

93
Q

What are exceptions to publicizing?

A
  • Unusual and compelling urgency
  • Foreign military sales
  • Required by statute
  • Compromise national security
94
Q

Synopsis time requirement for non-commercial items

A

15 days

95
Q

KO has the OPTION to publish a synopsis/solicitation for ____________ items.

A

commercial

96
Q

Type of contract that allows reimbursement of direct labor and the cost of material

A

Time and Material

97
Q

FAR Part 1

A

Federal Acquisitions Regulations System

98
Q

What act applies to construction contracts that states if in excess of $2000, wage rates must be included

A

Davis Bacon Act

99
Q

What is Determination and Findings?

A

a rationale business decision that happens after the contract has been awarded

100
Q

What is a CLIN?

A

Contract Line Item Number

101
Q

What elements go into a CLIN structure?

A
  • Unit Price
  • Item Description
  • Delivery Schedule
  • Accounting classification
102
Q

Are all sub-lined items prices?

A

NO.

103
Q

When a CLIN is sent out, what part(s) is left blank for the contractor to fill out?

A

unit price

amount

104
Q

Threshold to post on FedBizOps

A

exceeds $25,000

105
Q

Contracts between $_______ - ________are publicly displayed

A

$15,000 - $25,000

106
Q

Fixed Price Incentive Fee encourages the contractor to________.

A

Reduce costs

107
Q

Preferred statement = _______________.

A

Performance Work Statement

108
Q

Statement of work is the ________ preferred.

A

Least

109
Q

If we terminate for default on a construction contract, regardless of dollar amount, what must happen?

A

a performance evaluation

110
Q

Document required for publication of commercial items

A

Combined synopsis solicitation

111
Q

Information required for a synopsis

A 
Place of performance
Description
Competition requirement
Quantity
Date Solicitation will Be Published
112
Q

How long is a synopsis posted on FedBizOps?

A

15 days

113
Q

What do CLINs specify?

A

Products or services being procured

Acquisition Course Module 1 (18 decks)

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