Q&A Deck 3 Flashcards
What is the customary progress payment rate for a large business concern?
25%
50%
80%
15%
FAR 32.501-1
80%
What are the two types of contract modifications?
Negotiated and administrative
Limited and unlimited
Enforceable and unenforceable
Unilateral and bilateral
FAR 43.103
Unilateral and bilateral
What types of costs are normally segregable and accountable under the terms of the Change Order Accounting clause?
indirect costs
fringe costs
general and administrative costs
direct costs
FAR 43.203
direct costs
ow should alternates to a given provision or clause be titled per FAR Part 52?
Alternate A, Alternate B, Alternate C
Alternate 1, Alternate 2, Alternate 3
Alternate a, Alternate b, Alternate c
Alternate I, Alternate II, Alternate III
FAR 52.105
Alternate I, Alternate II, Alternate III
Where can executive agencies obtain standard and optional forms?
GSA Forms Library
Acquisition.gov
From the prescribing agency
Via internet search
FAR 53.107
GSA Forms Library
How can an agency working in a specific category of contracts streamline incorporating provisions and clauses?
- Continue to cite the provisions and clauses individually
- Create and reference electronic group listing of provisions and clauses
- Print and collate multiple copies of the necessary provisions and clauses
- Provide provisions and clauses upon request
FAR 52.102
Create and reference electronic group listing of provisions and clauses
What does the introductory text of each provision or clause include?
- cross-reference to the FAR
- identification of modified text
- the full text of the provision or clause
- rationale for inclusion of the provision or clause
FAR 52.101
cross-reference to the FAR
The contracting officer may modify provisions and clauses if:
- substitute words are agreed upon by both parties
- all changes are documented thoroughly
- Â the FAR authorizes their modification
- the situation calls for modification
FAR 52.104(a)
- Â the FAR authorizes their modification
Which of the following is required for the Government to effect a no-cost settlement in lieu of a termination for convenience or default?
- There are no outstanding debts due to the Government
- The price of the contract is less than $5,000
- Government property was furnished
- The contractor has outstanding obligations
FAR 49.109-4
There are no outstanding debts due to the Government
If the contractor does not have an approved purchasing system, consent to subcontract is required for all of the following except which?
- Cost-reimbursement contracts
- Fixed-price contracts below the simplified acquisition threshold
- Time-and-materials contracts
- Letter contracts
FAR 44.201-1(b)
- Fixed-price contracts below the simplified acquisition threshold
Which of the following is true about requests for the use of Government property by international organizations?
- The foreign organization may receive title to the Government-furnished property
- Such requests shall never be granted
- The Government must charge the international organization a rental fee
- Such requests shall be processed in accordance with agency procedures
FAR 45.302
Such requests shall be processed in accordance with agency procedures
Which of the following is not an appropriate use for Standard Form 30?
- A unilateral amendment to a solicitation
- A change order issued under the Changes clause
- The addition of funds to a contract
- A price change, with the amount of the change furnished to the contractor on the form
FAR 43.201
- A price change, with the amount of the change furnished to the contractor on the form
Regarding the authority to use extraordinary contractual actions, agencies shall maintain complete records of all actions taken under FAR 50.1.For request for relief processed, these records shall include, as a minimum the following except:
- Approval above the contracting officer.
- The contractor’s request.
- All relevant memorandums, correspondence, affidavits, and other pertinent documents.
- A copy of the contractual document implementing an approved request.
FAR 50.101-3
- Approval above the contracting officer.
Who oversees government contract quality assurance for seafood?
- Food and Drug Administration
- Department of Agriculture
- National Marine Fisheries Service of the Department of Commerce
- Department of Commerce
FAR 46.408
National Marine Fisheries Service of the Department of Commerce
What is the preferred method of transporting supplies for the Government?
Chartered vessels
Government-leased vehicles
Government-owned vehicles
Commercial carriers
FAR 47
Commercial carriers
The terminating contracting officer shall recommend the release of excess funds to the contracting officer within how long after the receipt of the termination notice?
30 days
3 months
10 days
14 days
FAR 49.105-2
30 days
Property acquired, fabricated, or otherwise provided by the contractor for performing a contract, and to which the Government has title, is called what?
Government-furnished property
Government-leased property
Contractor inventory
Contractor-acquired property
FAR 45.402
Contractor-acquired property
What is the preferred method for acquiring services?
Sealed Bidding procedures
Bundling
Multi-year contracting
Performance-based acquisition
FAR 37.102(a)
Performance-based acquisition
When should agencies utilize modular contracting?
- Whenever practicable.
- When contracting for construction and architect-engineer supplies and services.
- When contracting with industries where technology is not likely to change.
- To acquire major systems of information technology.
FAR 39.103(a)
- To acquire major systems of information technology.
An indirect cost rate established temporarily for interim reimbursement of incurred indirect costs and adjusted as necessary pending establishment of final indirect cost rates is called what?
Billing rate
Prevailing rate
Required rate
Interim rate
FAR 42.7
Billing rate
What is the purpose of the monthly review of utility service invoices?
- To review the financial status of the contract.
- To examine competitive markets for better service offerings.
- To review that the contract remains under the simplified acquisition threshold.
- To ensure the accuracy of the invoices.
FAR 41.401
- To ensure the accuracy of the invoices.
What provides federal agencies with a simplified process of acquiring commercial supplies and services in varying quantities while obtaining discounts associated with volume buying?
Effective competition.
Federal Supply Schedule.
Modular contracting.
Service contract.
FAR 38.101
Federal Supply Schedule.
A legal instrument in which a contractor guarantees performance of the contract, the obligations under the contract are assumed by a successor in interest, and the government recognizes the transfer of the contract and related assets is called what?
Assignment
Novation agreement
Transfer agreement
Change-of-name agreement
FAR 42.12
Novation agreement
What is the primary purpose of a postaward orientation?
- To provide understanding for a contractor that did not understand the work requirements at the time offers were submitted
- To achieve a clear and mutual understanding of all contract requirements and identify and resolve potential problems
- To make adjustments to any subcontracts which may be necessary under the prime contract
- To alter the ?final agreement arrived at in negotiations which led to the contract award
FAR 42.501
To achieve a clear and mutual understanding of all contract requirements and identify and resolve potential problems