Practice Exam 2021 Flashcards
A description of need, cost targets, delivery or performance requirements, and a plan of action are all components of what?
An acquisition plan
A document in which one party agrees not to make, sue, or sell certain information without first entering into an agreement with the owner of the information to do is called what?
A nondisclosure agreement
A letter or proposal requesting a change to the contract price or schedule is called what
A request for equitable adjustment
A buyer that sends its personnel to a work site to visually check on progress is doing what?
Direct observation
A company accounting for output by identifying specific physical units describes which type of cost system
Job-order
A memorandum of agreement, an intellectual property license, and a letter of intent are examples of what?
Custom terms and conditions
A basic ordering agreement is considered what type of contract?
It is not a contract
A Federal Supply Schedule is
A set of pre-negotiated IDIQ contracts
A potential offeror is preparing a response to a solicitation and needs to know whether separate technical and price proposals are required. Where should the offeror be able to find this information
In the instructions included in the solicitation package
A manager can help ensure that his or her subordinates become strong and effective by avoiding what
Overreliance on personal knowledge
A contractor making a claim against another party to a contract must base that claim on what?
A relief-granting clause in the contract.
A contract that provides evidence that there was an agreement for the sale of goods, is signed by the party to be charged, and specifies a quantity is which of the following?
Enforceable
A fixed sum or formula that the contract provides as a remedy for partial or full breach of the contract is called what?
Liquidated Damages
A funded debt, like a note on mortgage installments, is what kind of liability?
Long-Term
Discussions and concurrent actions, prior course of dealing between the parties, and custom and trade usage are examples of what?
Extrinsic Evidence
