Part 1 Chat GPT FAR Questions

Question 1

10. Which of the following is not considered commercial off-the-shelf (COTS) items?
    A) An item custom-made to the Government’s specifications
    B) A product sold in substantial quantities in the commercial marketplace
    C) A product that requires no unique modifications
    D) A product generally available to the public

Answer 1

Answer: A) An item custom-made to the Government’s specifications
Reference: FAR 2.101

Question 2

8. What action should be taken if a contractor fails to comply with the Buy American statute?
   A) The contractor should be removed from all future contracts
   B) The Contracting Officer may terminate the contract for default
   C) The contractor should be fined
   D) The contract will automatically convert to a foreign procurement

Answer 2

Answer: B) The Contracting Officer may terminate the contract for default
Reference: FAR 25.102

Question 3

6. What is the minimum wage rate requirement for contracts under the Davis-Bacon Act?
   A) Federal minimum wage
   B) State minimum wage
   C) Prevailing wage rates as determined by the Secretary of Labor
   D) Union wage rates

Answer 3

Answer: C) Prevailing wage rates as determined by the Secretary of Labor
Reference: FAR 22.403-1

Question 4

3. What is the simplified acquisition threshold for most contracts?
   A) $100,000
   B) $250,000
   C) $500,000
   D) $1,000,000

Answer 4

nswer: B) $250,000
Reference: FAR 2.101

Question 5

4. Under FAR 2.101, the term “acquisition” refers to:
   A) The act of soliciting bids.
   B) The purchasing, contracting, and procurement process for goods and services.
   C) The process of issuing task orders.
   D) The legal transfer of property to the Government.

Answer 5

B) The purchasing, contracting, and procurement process for goods and services.

Question 6

6. FAR 2.101 defines “nondevelopmental item” as:
   A) An item developed exclusively for government use.
   B) An item that is already available in the commercial marketplace.
   C) An item that requires additional research and development before procurement.
   D) An item that has been used previously by the government.

Answer 6

B) An item that is already available in the commercial marketplace.

Question 7

9. What does the term “contracting officer” refer to, as defined in FAR 2.101?
   A) Any government employee involved in procurement.
   B) An individual with the authority to enter into, administer, and terminate contracts.
   C) A legal advisor for contract disputes.
   D) A project manager responsible for contract oversight.

Answer 7

B) An individual with the authority to enter into, administer, and terminate contracts.

Question 8

11. What is a “delivery order” under FAR 2.101?
    A) A purchase agreement between the Government and a contractor for a specific period.
    B) An order for supplies or services placed against an established contract.
    C) A modification issued to expedite delivery.
    D) A contract that allows for open-ended delivery dates.

Answer 8

B) An order for supplies or services placed against an established contract.

Question 9

13. According to FAR 2.101, what is a “task order”?
    A) A modification to extend the contract period.
    B) An order for services placed against an indefinite-delivery contract.
    C) A preliminary agreement before a formal contract.
    D) An informal arrangement between a contractor and subcontractor.

Answer 9

B) An order for services placed against an indefinite-delivery contract.

Question 10

1. What is the primary purpose of the System for Award Management (SAM) according to FAR 4.1102?
   A) To provide a marketplace for government contracts.
   B) To allow contractors to register and report on federal contracts.
   C) To assist contractors in preparing contract bids.
   D) To issue contract modifications.

Answer 10

B) To allow contractors to register and report on federal contracts.

Question 11

2. According to FAR 4.102, what is required to bind the Government to a contract?
   A) A signed invoice.
   B) Oral communication from an authorized official.
   C) Signature of a duly authorized contracting officer.
   D) A purchase order.

Answer 11

C) Signature of a duly authorized contracting officer.

Question 12

3. Which of the following is NOT a purpose of FAR 4.000 as it relates to administrative and information matters?
   A) Determining the proper identification of contracts.
   B) Managing records retention requirements.
   C) Conducting evaluations of contractor performance.
   D) Establishing source selection procedures.

Answer 12

D) Establishing source selection procedures.

Question 13

4. FAR 4.804-1 states that the administrative closeout of a contract should begin when:
   A) The final payment has been made.
   B) The contract is terminated for default.
   C) All contract deliverables have been received.
   D) The contract is awarded.

Answer 13

C) All contract deliverables have been received.

Question 14

5. Under FAR 4.1201, when must contractors complete and submit representations and certifications through SAM?
   A) Before submitting a proposal.
   B) After contract award.
   C) During the post-award conference.
   D) Before the contract modification is issued.

Answer 14

A) Before submitting a proposal.

Question 15

6. What is the purpose of the Contract Action Report (CAR) under FAR 4.604?
   A) To document a contractor’s performance.
   B) To provide a summary of all actions associated with a particular contract.
   C) To report the contract action in the Federal Procurement Data System (FPDS).
   D) To track modifications made to the original contract.

Answer 15

C) To report the contract action in the Federal Procurement Data System (FPDS).

Question 16

8. Which part of FAR 4 covers the safeguarding of classified information?
   A) FAR 4.102
   B) FAR 4.401
   C) FAR 4.804
   D) FAR 4.1202

Answer 16

B) FAR 4.401

Question 17

9. According to FAR 4.1102, what is the threshold for contractors to be registered in SAM prior to contract award?
   A) $25,000
   B) $100,000
   C) $250,000
   D) $500,000

Answer 17

C) $250,000

Question 18

10. Which form is used to document a contract’s completion under FAR 4.804-5?
    A) SF 1449
    B) DD Form 250
    C) SF 1034
    D) DD Form 1597

Answer 18

D) DD Form 1597

Question 19

11. Under FAR 4.1801, what does the Unique Entity Identifier (UEI) replace?
    A) Data Universal Numbering System (DUNS).
    B) Commercial and Government Entity (CAGE) code.
    C) Contractor Performance Assessment Reporting System (CPARS) number.
    D) Contractor invoice number.

Answer 19

A) Data Universal Numbering System (DUNS).

Question 20

12. What must contracting officers ensure before awarding contracts according to FAR 4.1103?
    A) Contractors are registered in SAM.
    B) Contractors have submitted certified cost or pricing data.
    C) Contractors have completed past performance evaluations.
    D) Contractors have been pre-approved by the agency head

Answer 20

A) Contractors are registered in SAM

Question 21

13. Under FAR 4.1901, what is the objective of the Prohibition on Contracting with Inverted Domestic Corporations?
    A) To prevent foreign companies from acquiring U.S. contracts.
    B) To ensure that companies incorporated outside the U.S. are not awarded contracts.
    C) To avoid contracts with U.S. companies that relocate abroad for tax purposes.
    D) To increase competition among domestic contractors.

Answer 21

C) To avoid contracts with U.S. companies that relocate abroad for tax purposes.

Question 22

14. What does FAR 4.804-1 recommend for the contract closeout process in terms of time?
    A) It should be completed within 6 months after physical completion of the contract.
    B) It must begin immediately after final payment is made.
    C) It should be delayed until all audits are complete.
    D) It must be completed within 12 months.

Answer 22

A) It should be completed within 6 months after physical completion of the contract.

Question 23

5. Under FAR 4.2101, the Basic Safeguarding of Covered Contractor Information Systems clause applies to:
   A) Contracts over $1,000,000.
   B) Contracts involving classified information.
   C) Contracts that require contractors to safeguard unclassified systems.
   D) Commercial item contracts only.

Answer 23

C) Contracts that require contractors to safeguard unclassified systems.

Question 24

16. What is the primary role of FPDS (Federal Procurement Data System) as described in FAR 4.6?
    A) To store contract documents for public access.
    B) To collect, develop, and disseminate procurement data.
    C) To assist in evaluating contractor past performance.
    D) To facilitate contract payments.

Answer 24

B) To collect, develop, and disseminate procurement data.

Question 25

7. FAR 4.1303 prohibits agencies from awarding a contract to any entity unless the entity has a valid:
   A) Commercial and Government Entity (CAGE) code.
   B) Small Business Administration certification.
   C) Past performance rating.
   D) Unique Entity Identifier (UEI).

Answer 25

D) Unique Entity Identifier (UEI).

Question 26

18. Under FAR 4.902, contractors are required to submit which of the following?
    A) Certified payroll records.
    B) Written progress reports.
    C) Individual subcontracting reports.
    D) Taxpayer Identification Number (TIN).

Answer 26

D) Taxpayer Identification Number (TIN).

Question 27

19. FAR 4.403(c) requires the use of which form for the protection of classified information?
    A) SF 312
    B) SF 33
    C) SF 1449
    D) DD 250

Answer 27

A) SF 312

Question 28

20. FAR 4.804 discusses contract closeout procedures. When is a contract considered physically complete?
    A) When all deliverables have been accepted.
    B) When the final payment has been made.
    C) When the contract is officially terminated.
    D) When the contractor submits a final report.

Answer 28

A) When all deliverables have been accepted.

Question 29

21. According to FAR 4.703(b), if a contract involves environmental hazards, how long must records be retained?
    A) 3 years after final payment.
    B) 5 years after contract completion.
    C) 10 years after contract completion.
    D) Until the issue is resolved.

Answer 29

D) Until the issue is resolved.

Question 30

22. Under FAR 4.1102, when must a contractor be registered in SAM?
    A) At the time of contract award.
    B) Prior to submitting an offer.
    C) Within 30 days of award.
    D) After contract closeout.

Answer 30

B) Prior to submitting an offer.

Question 31

23. Which of the following is exempt from the requirements of FAR 4.1102 regarding SAM registration?
    A) Contracts for commercial items.
    B) Micro-purchases using the government purchase card.
    C) Service contracts above the simplified acquisition threshold.
    D) Research and development contracts.

Answer 31

B) Micro-purchases using the government purchase card.

Question 32

5. Under FAR 4.804-5, what is the purpose of a contract completion statement?) To verify that all contract requirements have been fulfilled.
   B) To notify the contractor that payment has been made.
   C) To request a final audit from the Government.
   D) To modify the contract for closeout purposes.

Answer 32

A) To verify that all contract requirements have been fulfilled.

Question 33

26. FAR 4.902(a) mandates the collection of which information from contractors?
    A) Corporate tax returns.
    B) Sales receipts.
    C) Taxpayer Identification Number (TIN).
    D) Commercial invoice numbers.

Answer 33

C) Taxpayer Identification Number (TIN).

Question 34

27. What does FAR 4.2104 require to be included in solicitations when the contract involves covered information systems?
    A) Basic Safeguarding of Covered Contractor Information Systems clause.
    B) Data management plan.
    C) Terms of non-disclosure.
    D) Software security policy.

Answer 34

A) Basic Safeguarding of Covered Contractor Information Systems clause.

Question 35

28. When can a contracting officer use an agency-specific identifier instead of a Procurement Instrument Identifier (PIID) under FAR 4.1601?
    A) For simplified acquisition purchases.
    B) For classified contracts.
    C) For contracts that do not involve delivery.
    D) For contracts under $10,000.

Answer 35

B) For classified contracts.

Question 36

29. What does FAR 4.605 require to be reported to FPDS?
    A) Contractor past performance data.
    B) All contract actions over the micro-purchase threshold.
    C) Classified contracts.
    D) Only contracts awarded to small businesses.

Answer 36

B) All contract actions over the micro-purchase threshold.

Question 37

30. FAR 4.604 requires contracting officers to submit a Contract Action Report (CAR) within how many days of contract award?
    A) 3 days
    B) 10 days
    C) 30 days
    D) 90 days

Answer 37

B) 10 days

Question 38

31. What system is used to track contracts involving classified information according to FAR 4.402?
    A) Contractor Performance Assessment Reporting System (CPARS)
    B) National Industrial Security Program (NISP)
    C) Federal Procurement Data System (FPDS)
    D) System for Award Management (SAM)

Answer 38

B) National Industrial Security Program (NISP).

Question 39

33. What identifier is assigned to each contract by the Federal Government under FAR 4.1603?
    A) Data Universal Numbering System (DUNS)
    B) Commercial and Government Entity (CAGE) code
    C) Procurement Instrument Identifier (PIID)
    D) Unique Entity Identifier (UEI)

Answer 39

C) Procurement Instrument Identifier (PIID).

Question 40

5. Under FAR 4.603, what is the purpose of the Federal Procurement Data System (FPDS)?
   A) To record and report contract actions.
   B) To ensure contractor compliance with performance measures.
   C) To track payment records for all contracts.
   D) To monitor classified information related to government contracts.

Answer 40

A) To record and report contract actions.

Question 41

36. Under FAR 4.1201, how often must contractors update their representations and certifications in SAM?
    A) Every 6 months.
    B) Every year.
    C) Every 5 years.
    D) Every time they submit a proposal.

Answer 41

B) Every year.

Question 42

37. FAR 4.703 addresses the retention of records. What is the primary consideration for determining the retention period for a specific contract?
    A) The size of the contract award.
    B) The type of contract and associated risks.
    C) The contract’s performance period.
    D) Whether the contract is for commercial or non-commercial items.

Answer 42

B) The type of contract and associated risks.

Question 43

38. What document does FAR 4.804-5 require for contracts under simplified acquisition procedures during closeout?
    A) A closeout modification.
    B) A final invoice.
    C) A contract completion statement.
    D) A final audit report

Answer 43

C) A contract completion statement.

Question 44

40. FAR 4.1601 specifies that a Procurement Instrument Identifier (PIID) must be used to:
    A) Track all procurement actions.
    B) Replace the need for contractor DUNS numbers.
    C) Identify performance issues.
    D) Provide a legal basis for contract termination.

Answer 44

A) Track all procurement actions

Question 45

41. Which form must be used for a release of claims under FAR 4.804-5?
    A) SF 30
    B) SF 1449
    C) SF 1034
    D) DD Form 1594

Answer 45

D) DD Form 1594

Question 46

42. FAR 4.201 requires which of the following to be documented in the contract file?
    A) The contractor’s proposal.
    B) The final payment amount.
    C) A contract performance review.
    D) The contracting officer’s determination and findings.

Answer 46

D) The contracting officer’s determination and findings.

Question 47

43. FAR 4.603 requires that agencies report contract actions to FPDS within how many days of award?
    A) 10 days
    B) 30 days
    C) 45 days
    D) 60 days

Answer 47

A) 10 days

Question 48

46. What does FAR 4.1202 require regarding representations and certifications submitted in SAM?
    A) They must be submitted with each offer.
    B) They must be updated before the contract is closed.
    C) They are used to establish contractor eligibility.
    D) They are used for compliance with environmental regulations.

Answer 48

C) They are used to establish contractor eligibility.

Question 49

49. What must be included in a contractor’s annual update of SAM registration as required by FAR 4.1201?
    A) Executive compensation report.
    B) List of previous contract awards.
    C) Contract performance data.
    D) Past performance reviews.

Answer 49

A) Executive compensation report.

Question 50

1. What is the primary purpose of FAR Part 15?
   A) To establish rules for simplified acquisition procedures.
   B) To govern sealed bidding procedures.
   C) To establish policies for contracting by negotiation.
   D) To regulate micro-purchases.

Answer 50

C) To establish policies for contracting by negotiation.

Question 51

2. Under FAR 15.201, when are exchanges with industry before receipt of proposals encouraged?
   A) Only after receipt of proposals.
   B) Only if no other procurement options are available.
   C) When it helps clarify requirements and promote competition.
   D) Never, as it compromises fairness.

Answer 51

C) When it helps clarify requirements and promote competition

Question 52

4. According to FAR 15.404-1, which of the following methods is NOT used for price analysis?
   A) Comparison of proposed prices received in response to the solicitation.
   B) Comparison with independent government cost estimates.
   C) Evaluation of the contractor’s direct labor hours.
   D) Comparison of proposed prices with historical prices paid for similar items.

Answer 52

C) Evaluation of the contractor’s direct labor hours.

Question 53

5. What does FAR 15.306(e) prohibit during discussions with offerors?
   A) Offering clarifications on ambiguities in the solicitation.
   B) Favoring one offeror over another.
   C) Discussing deficiencies in the offeror’s proposal.
   D) Negotiating on price and technical terms.

Answer 53

B) Favoring one offeror over another.

Question 54

6. Under FAR 15.404-3, which of the following is the primary purpose of a cost realism analysis?
   A) To determine if the offeror’s costs are unreasonably high.
   B) To assess if the costs reflect the offeror’s understanding of the work.
   C) To ensure the lowest possible cost.
   D) To compare prices between offerors.

Answer 54

B) To assess if the costs reflect the offeror’s understanding of the work

Question 55

8. FAR 15.305 emphasizes the importance of evaluating which three factors during source selection?
   A) Cost, past performance, and quality control.
   B) Technical capability, cost or price, and past performance.
   C) Price, small business participation, and technical requirements.
   D) Contract administration, cost, and schedule.

Answer 55

B) Technical capability, cost or price, and past performance.

Question 56

10. What is the purpose of the weighted guidelines method discussed in FAR 15.404-4?
    A) To determine the best offeror based on technical capabilities.
    B) To analyze price competitiveness between offerors.
    C) To evaluate past performance.
    D) To establish profit or fee objectives for negotiations.

Answer 56

D) To establish profit or fee objectives for negotiations.

Question 57

1. Which of the following is NOT a condition under which certified cost or pricing data is required according to FAR 15.403-4?
   A) When awarding a contract over the Truthful Cost or Pricing Data threshold.
   B) When the price is based on adequate price competition.
   C) When modifying a contract to increase the price by more than the threshold.
   D) When the price is based on cost analysis.

Answer 57

B) When the price is based on adequate price competition.

Question 58

12. What action must the Government take under FAR 15.306(d) during discussions with offerors?
    A) Accept all proposals without negotiation.
    B) Point out significant weaknesses or deficiencies in the offeror’s proposal.
    C) Only discuss price-related matters.
    D) Disclose other offerors’ prices.

Answer 58

B) Point out significant weaknesses or deficiencies in the offeror’s proposal.

Question 59

4. Under FAR 15.506, after award, the contracting officer must provide unsuccessful offerors with what?
   A) A detailed evaluation of their technical proposal.
   B) A copy of the winning proposal.
   C) A post-award debriefing.
   D) A letter of intent for future contracts

Answer 59

C) A post-award debriefing

Question 60

17. What is the purpose of FAR 15.305’s evaluation of past performance?
    A) To verify an offeror’s compliance with small business regulations.
    B) To assess the likelihood of the offeror successfully performing the contract.
    C) To determine the most cost-effective proposal.
    D) To establish whether the offeror has adequate facilities.

Answer 60

B) To assess the likelihood of the offeror successfully performing the contract.

Question 61

19. What is the “competitive range” according to FAR 15.306(c)?
    A) The number of proposals considered for award.
    B) The proposals with the lowest prices.
    C) Proposals that have a reasonable chance of being selected for award.
    D) Proposals that meet the Government’s technical standards.

Answer 61

C) Proposals that have a reasonable chance of being selected for award.

Question 62

20. According to FAR 15.404-4, profit should be determined based on:
    A) The offeror’s direct costs.
    B) The complexity of the work and the risk to the contractor.
    C) The offeror’s past performance record.
    D) The overall cost of the project.

Answer 62

B) The complexity of the work and the risk to the contractor

Question 63

21. Under FAR 15.305, the best value continuum ranges from:
    A) Price to technical considerations.
    B) Lowest price technically acceptable (LPTA) to tradeoffs.
    C) Cost-plus-fixed-fee to fixed-price contracts.
    D) Sealed bidding to negotiated procurement.

Answer 63

B) Lowest price technically acceptable (LPTA) to tradeoffs

Question 64

23. When are discussions mandatory in negotiated procurements under FAR Part 15?
    A) When all proposals exceed the estimated budget.
    B) When only one offer is received.
    C) When the contracting officer establishes a competitive range.
    D) When the procurement is for commercial items.

Answer 64

C) When the contracting officer establishes a competitive range

Question 65

24. What does FAR 15.406-1 require the contracting officer to prepare after negotiations are completed?
    A) A price negotiation memorandum (PNM).
    B) A contract modification.
    C) A cost-benefit analysis.
    D) A contract performance evaluation.

Answer 65

A) A price negotiation memorandum (PNM)

Question 66

25. FAR 15.403-1 outlines when certified cost or pricing data is NOT required. Which of the following is an exception?
    A) Contracts awarded through competitive bidding.
    B) Contracts awarded under sealed bids.
    C) Contracts based on adequate price competition.
    D) Contracts exceeding the Truth in Negotiations Act (TINA) threshold.

Answer 66

C) Contracts based on adequate price competition.

Question 67

8. What is the threshold for requiring certified cost or pricing data according to FAR 15.403-4?
   A) $500,000
   B) $750,000
   C) $2 million
   D) $10 million

Answer 67

C) $2 million.

Question 68

29. Under FAR 15.404-2, who is responsible for providing a field pricing report?
    A) The contracting officer.
    B) The contractor’s pricing team.
    C) The Defense Contract Audit Agency (DCAA) or another authorized audit organization.
    D) The offeror’s subcontractors.

Answer 68

C) The Defense Contract Audit Agency (DCAA) or another authorized audit organization.

Question 69

31. Which of the following is true regarding pre-award debriefings under FAR 15.505?
    A) They must always be given before an award is made.
    B) They are optional and at the discretion of the offeror.
    C) They can be requested by any offeror excluded from the competitive range.
    D) They are only provided after contract award.

Answer 69

C) They can be requested by any offeror excluded from the competitive range.

Question 70

33. FAR 15.306 allows for which type of communications with offerors after receipt of proposals but before award?
    A) Sealed bidding.
    B) Oral presentations only.
    C) Discussions and clarifications.
    D) Post-award audits.

Answer 70

C) Discussions and clarifications

Question 71

34. What is the purpose of FAR 15.503’s notice of award?
    A) To provide unsuccessful offerors with feedback on their proposal.
    B) To notify the contractor that contract performance can begin.
    C) To establish the terms and conditions of the contract.
    D) To announce the selected offeror to all participants in the competition.

Answer 71

B) To notify the contractor that contract performance can begin.

Question 72

35. According to FAR 15.304(c)(3), when can cost or price be the least important factor in an evaluation?
    A) Never; cost or price is always the most important factor.
    B) When past performance and technical capability are considered more critical to the Government’s needs.
    C) Only in cost-reimbursement contracts.
    D) When the Government is purchasing commercial items.

Answer 72

B) When past performance and technical capability are considered more critical to the Government’s needs.

Question 73

36. What does FAR 15.308 require the Source Selection Authority (SSA) to provide?
    A) A contract performance review.
    B) A performance-based work statement.
    C) A source selection decision document explaining the rationale for the award.
    D) A price analysis of the winning proposal

Answer 73

C) A source selection decision document explaining the rationale for the award

Question 74

37. What is the minimum number of price or cost proposals required under FAR Part 15 to justify adequate price competition?
    A) One.
    B) Two.
    C) Three.
    D) Five.

Answer 74

B) Two.

Question 75

38. According to FAR 15.404-1, which of the following is a valid method of determining price reasonableness?
    A) The offeror’s price is compared to previous offers.
    B) The offeror’s price is compared to the Independent Government Estimate (IGE).
    C) The offeror’s price is compared to the lowest proposed price.
    D) The offeror’s price is compared to industry standards.

Answer 75

B) The offeror’s price is compared to the Independent Government Estimate (IGE)

Question 76

39. Under FAR 15.506, what is the purpose of a post-award debriefing?
    A) To help unsuccessful offerors improve future proposals.
    B) To negotiate new terms for the contract.
    C) To notify the contractor of the start date.
    D) To review the contractor’s performance plan.

Answer 76

A) To help unsuccessful offerors improve future proposals.

Question 77

41. What is the primary difference between FAR 15.101-1 tradeoff process and FAR 15.101-2 lowest price technically acceptable (LPTA)?
    A) LPTA focuses on tradeoffs between price and technical factors.
    B) Tradeoff process requires the lowest price to be technically acceptable.
    C) LPTA selects the lowest price offer that meets minimum technical requirements, while tradeoff considers other factors.
    D) Tradeoff always selects the highest-priced offer.

Answer 77

C) LPTA selects the lowest price offer that meets minimum technical requirements, while tradeoff considers other factors.

Question 78

42. Under FAR 15.305(a)(2)(iii), what happens if a contractor does not have relevant past performance?
    A) It is rated as neutral.
    B) It is automatically disqualified.
    C) It must submit additional references.
    D) It is rated as unsatisfactory.

Answer 78

A) It is rated as neutral.

Question 79

43. FAR 15.402 requires the Government to do what in regard to price negotiations?
    A) Pay the lowest possible price.
    B) Negotiate fair and reasonable prices.
    C) Ensure the contractor is highly profitable.
    D) Avoid discussions on price.

Answer 79

B) Negotiate fair and reasonable prices.

Question 80

44. What must a contracting officer do if certified cost or pricing data is found to be defective after contract award, according to FAR 15.407-1?
    A) Terminate the contract for default.
    B) Withhold future payments.
    C) Adjust the contract price accordingly.
    D) Report the contractor to legal authorities.

Answer 80

C) Adjust the contract price accordingly

Question 81

47. What does FAR 15.506(d) specify should be included in a post-award debriefing?
    A) The names of other offerors.
    B) The agency’s overall evaluation of the successful offeror.
    C) A comparison of all offerors’ prices.
    D) The final price paid by the Government.

Answer 81

B) The agency’s overall evaluation of the successful offeror.

Question 82

48. What does FAR 15.404-1 outline as an acceptable technique for price analysis?
    A) Use of a reverse auction.
    B) Comparison of proposed prices with prices found reasonable on previous purchases.
    C) Conducting a complete cost analysis.
    D) Negotiating price after technical evaluations.

Answer 82

B) Comparison of proposed prices with prices found reasonable on previous purchases.

Question 83

49. What does the term “cost realism” refer to under FAR 15.404-1(d)?
    A) The actual costs that will be incurred by the contractor.
    B) The Government’s estimate of a fair price.
    C) The offeror’s costs reflecting a clear understanding of the requirements.
    D) The lowest possible costs submitted by an offeror.

Answer 83

C) The offeror’s costs reflecting a clear understanding of the requirements.

Question 84

50. According to FAR 15.209, what clause must be included in all solicitations and contracts requiring certified cost or pricing data?
    A) FAR 52.215-10, Price Reduction for Defective Certified Cost or Pricing Data.
    B) FAR 52.215-8, Order of Precedence.
    C) FAR 52.215-2, Audit and Records – Negotiation.
    D) FAR 52.215-20, Requirements for Certified Cost or Pricing Data.

Answer 84

D) FAR 52.215-20, Requirements for Certified Cost or Pricing Data.