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
o the maximum extent practicable, FAR Part 37 requires the use of what for acquisitions of services?
Cost-reimbursement contracts
Multiyear contracts
Performance-based acquisition
Negotiated extensions to existing contracts
FAR 37
Performance-based acquisition
What kind of contract directly engages the time and effort of a contractor whose primary purpose is to perform an identifiable task rather than to furnish an end item of supply?
Nonpersonal services contract.
Federal Supply Schedule.
Service contract.
Modular contract.
FAR 37.101
Service contract.
Which of the following is NOT true about Advance Agreements?
- In writing, executed by both parties
- Negotiated after the incurrence of costs
- Negotiated before a contract
- Negotiated during a contract
FAR 31.109(b)
- Negotiated after the incurrence of costs
Regarding disputes, the government’s policy is to try to resolve all contractual issues in controversy by mutual agreement at the:
Contracting Officer’s level
Technical Director’s level
Agency Head’s level
Program Manager’s level
FAR 33.204
Contracting Officer’s level
What is a market condition that exists when two or more contractors, acting independently, actively contend for the government’s business in a manner that ensures that the government will be offered the lowest cost or price alternative or best technical design meeting its minimum needs?
National Security System
Non-Personal Services Contract.
Effective Competition
Modular Contracting
FAR 34.001
Effective Competition
Which type of construction contract should be used when the price for materials is likely to fluctuate with market conditions?
- Cost reimbursement
- Firm-fixed-price contract
- Fixed-price contract with economic price adjustment
- Time & Materials contract
FAR 36.207(c)
- Fixed-price contract with economic price adjustment
Payment by the government is made on the _______ day after the designated billing office receives a proper invoice.
30th
13th
3rd
10th
FAR 32.904(b)
30th
Which of the below is the correct order of preference under FAR Part 32: Contract Financing?
- Private financing without government guarantee, loan guarantees, customary contract financing, advance payments, unusual contract financing.
- Customary contract financing, unusual contract financing, loan guarantees, advance payments, private financing without government guarantee.
- Advance payments, loan guarantees, private financing without government guarantee, customary contract financing, unusual contract financing.
- Private financing without government guarantee, customary contract financing, loan guarantees, unusual contract financing, advance payments.
FAR 32.106
- Private financing without government guarantee, customary contract financing, loan guarantees, unusual contract financing, advance payments.
Payment from the government will be based on receipt of a proper invoice and ____________.
Interest
Payment due dates
Delivery criteria
Satisfactory contract performance
FAR 32.905(a)
Satisfactory contract performance
Does a $75,000 claim resulting from a reduction of $350,000 and an increase of $275,000 require certification?
- Yes, because the aggregate value of the claim exceeds $500,000.
- No, because the claimed amount is less than $500,000.
- Yes, the aggregate value of the claim exceeds $100,000.
- No, because the claimed amount is less than $100,000.
FAR 33.207
- Yes, the aggregate value of the claim exceeds $100,000.
______________ means the lead agency responsible for managing, administering, or monitoring overall use of the FFRDC under a multiple sponsorship agreement.
Non-Sponsor
Multiple Sponsor
Primary Sponsor
Sponsor
FAR 35.017(b)
Primary Sponsor
In preparing work statements, technical and contracting personnel shall consider and, as appropriate, provide in the solicitation all of the following EXCEPT:
- a statement of the area of exploration, tasks to be performed, and objectives of the research or development effort.
- reporting requirements and information on any additional items that the contractor is require to furnish as the work progresses.
- information on factors such as personnel, environment, and interfaces that may constrain the results of the effort.
- a precise description of the work and methods.
FAR 35.005
- a precise description of the work and methods.
The policies and procedures for trade agreements, including the World Trade Organization Government Procurement Agreement (WTO GPA), Free Trade Agreements, least developed country designation, the Caribbean Basin Trade Initiative, the Israeli Trade Act, and the Agreement on Trade in Civil Aircraft, do not apply to all the following, except:
- Acquisitions set aside for small businesses.
- Acquisitions under simplified acquisition procedures.
- Acquisitions from the AbilityOne program.
- Acquisitions of end products for resale.
FAR 25.400(a) and FAR 25.401(a).
- Acquisitions under simplified acquisition procedures.
Which of the following is not a reason to allocate a cost to a government contract?
- It is necessary to the overall operation of the business.
- Bona fide need.
- It benefits both the contract and other work, and can be distributed to them in a reasonable manner.
- It is incurred specifically for the contract.
FAR 31.201-4
Bona fide need.
What bond secures fulfillment of the Contractor’s obligations under a patent provision?
Advance payment bond
Annual bid bond
Performance bond
Patent infringement bond
FAR 28.001(4)
Patent infringement bond
The Contracting Officer shall not award a CAS-covered contract until the _____________ has made a written determination that the required disclosure statement is adequate.
Program Manager
Agency Head
Cognizant Federal Agency Official
Contracting Activity
FAR 30.202-6
Cognizant Federal Agency Official
Application of Cost Principles to ____________ contracts and subcontracts shall not be construed as a requirement to negotiate agreements on individual elements of cost in arriving at agreement on total price.
Fixed Price
Architectural
Time and Material
Construction
FAR 31.102
Fixed Price
Total cost equals _________ plus indirect costs allocable to the contract.
fixed costs
overhead costs plus fringe costs
cost of goods sold
direct
FAR 31.201-1
direct
When data is developed at private expense and that data is delivered to the Government, the Government should acquire what type of rights to it?
- If it is cost effective, the - Government should always negotiate for unlimited rights as this provides the most benefit to the Government.
- The Government should acquire only those rights essential to its needs.
-The Government cannot acquire any rights to data developed at private expense.
- Prospective contractors usually must provide unlimited rights in data as a condition of the procurement, regardless of how the data was originally developed.
FAR 27.102(d) and FAR 27.406-1(c).
- The Government should acquire only those rights essential to its needs.
What does CASB stand for?
C-ontract Administration Standards Bulletin
-Citizen Accounting Standards Board
-Cost Accounting Standards Board
-None of the above
FAR 30.000
-Cost Accounting Standards Board
What law specifies how agencies shall make their records available upon public request, imposes strict time standards for agency responses, and exempts certain records from public disclosure?
Paperwork Reduction Act
Federal Records Act
Freedom of Information Act
Privacy Act of 1974
FAR 24.203(a)
Freedom of Information Act
Which bond type secured performance and fulfillment of the contractor’s obligation under a contract?
Payment bond
Performance bond
Advance payment bond
Bid guarantee
FAR 28.001(6)
Advance payment bond
The Government prefers to issue multiple awards for which of the following?
- Requirement contracts
-Basic Ordering Agreements
-Indefinite Delivery Indefinite
Quantity Contracts
- Letter Contracts
FAR 16.5
-Indefinite Delivery Indefinite
Quantity Contracts
The contracting officer shall set aside any acquisition over the simplified acquisition threshold for small business participation when there is a reasonable expectation that- (1) Offers will be obtained from at least _________ responsible small business concerns; and (2) Award will be made at _________ prices.
seven, reasonable
three, average
four, cost-plus-percentage-of-cost
two, fair market
FAR 19.5
two, fair market
This law provides that federal contracts in excess of $2,000 to which the United States or the District of Columbia is a party for construction, alteration, or repair (including painting and decorating) of public buildings or public works within the United States, shall contain a clause that no laborer or mechanic employed directly upon the site of the work shall receive less than the prevailing wage rates as determined by the Secretary of Labor.
Wage Rate Requirements (Construction)
Contract Work Hours and Safety Standards Act
Minimum Wage Act
Kickbacks statute
FAR 22.404-1(b)
Wage Rate Requirements (Construction)
Except for information technology contracts and unless otherwise approved in accordance with agency procedures, the total of the basic and option periods shall not exceed ___ years in the case of services, and the total of the basic and option quantities shall not exceed the requirement for ___ years in the case of supplies.
10; 10
10; 5
5; 10
5; 5
FAR 17.204(e)
5; 5
The Service Contract Labor Standards includes which of the following statutory exceptions where it does not apply.
- Any contract for janitorial services.
- Any contract for nonseverable services.
- Any contract for severable services.
- Any contract for public utility services.
FAR 22.1003-3 and 22.604
- Any contract for public utility services.
Each acquisition of supplies or services that has an anticipated dollar value above the _______________, but not over the ___________, shall be set aside for small business unless the contracting officer determines there is not a reasonable expectation of obtaining offers from two or more responsible small business concerns that are competitive in terms of fair market prices, quality, and delivery.
- Copeland (Anti-Kickback) Act threshold, Truthful Cost Or Pricing threshold
- make-or-buy threshold, sale-of-goods threshold
- micro-purchase threshold, simplified acquisition threshold
- nano-purchase threshold, micro-purchase threshold
FAR 19.502-5
- micro-purchase threshold, simplified acquisition threshold
Solicitations to perform contracts or contract modifications that are expected to exceed ___________ ($1M for construction) for which subcontracting possibilities exist, require the apparent successful offeror/bidder to submit an acceptable subcontracting plan prior to award.
$700,000
$500,000
$750,000
$600,000
FAR 19.702
$750,000
An offeror may request a post-award debriefing by submitting a written request for debriefing to the Contracting officer to be received within _____ days after receipt of a notice of contract award.
3
7
5
10
FAR 15.506
3
A pre-bid conference may be used for the following purposes except?
- generally in a complex acquisition.
- as a substitute for amending a defective or ambiguous invitation.
- as a means of getting requirements to prospective bidders as early as possible after the invitation has been issued and before the bids are opened.
- as a means of briefing prospective bidders and explaining complicated specifications.
FAR 14.207
- as a substitute for amending a defective or ambiguous invitation.
Which of the following is an order for supplies or services for which the price is not established at the time of issuance of the order?
Purchase order
Unpriced Purchase Order
Letter Contract
Blanket Purchase Order
FAR 13.302-2
Unpriced Purchase Order
Which of the following is considered an unsolicited proposal?
- Marketing material designed to acquaint the Government with a prospective contractor’s present products, services, and/or capabilities.
- Proposal offered prior to an RFP in hopes to have their product evaluated during the research phase.
- An offer of a commercial item that the vendor wishes to see introduced in the government’s supply system.
- A written proposal for a new or innovative idea that is submitted to an agency on the initiative of the offeror for the purpose of obtaining a contract with the Government, and that is not in response to a request for proposals, Broad Agency Announcement, Small Business Innovation Research topic, Small Business Technology Transfer Research topic, Program Research and Development Announcement, or any other Government-initiated solicitation or program.
FAR 15.603
- A written proposal for a new or innovative idea that is submitted to an agency on the initiative of the offeror for the purpose of obtaining a contract with the Government, and that is not in response to a request for proposals, Broad Agency Announcement, Small Business Innovation Research topic, Small Business Technology Transfer Research topic, Program Research and Development Announcement, or any other Government-initiated solicitation or program.
Which of the following is not a method for simplified acquisition?
- Blanket purchase agreement
- Purchase order
- Governmentwide commercial purchase card
- Advance agreement
FAR 13.3
- Advance agreement
The objective when negotiating contract type and price is to negotiate one that will result in:
- Lowest price for the government
- Reasonable contractor risk and greatest incentive for efficient and economical performance
- Reasonable risk to the government and greatest incentive for cost savings
- Reasonable incentive for fast delivery and lowest risk to the government
FAR 16.103
Reasonable contractor risk and greatest incentive for efficient and economical performance
The use of cost-reimbursement contracts is prohibited for the acquisition of __________.
- Research & Development (R&D)
- Supplies and services below the simplified acquisition threshold
- Services below the micro-purchase threshold
- Commercial items
FAR 16.301-3
- Commercial items
What occurs when the final cost exceeds the price ceiling in a fixed-price incentive fee type contract?
- Contractor absorbs the difference as a loss
- Final costs are recouped at contract closeout
- Final costs are increased through a change order
- Government absorbs the difference as a loss
FAR 16.403
- Contractor absorbs the difference as a loss
What type of contract is a written preliminary contractual instrument that authorizes the contractor to begin immediately manufacturing supplies or performing service?
Labor-Hour Contract
Letter Contract
Times & Materials Contract
Basic Agreement Contract
FAR 16.603
Letter Contract
What is price analysis?
- The review and evaluation of the separate cost elements excluding profit in an offeror’s proposal.
- The process of examining and evaluating a proposed price by evaluating its separate cost elements and proposed profits and is used when cost or pricing data are not required.
- The review and evaluation of the separate elements and profit in an offeror’s proposal.
- The process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profits and is used when cost or pricing data are not required.
FAR 15.404
- The process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profits and is used when cost or pricing data are not required.
