What is the purpose of cost principles under FAR Part 31?

To determine the allowability, allocability, and reasonableness of costs

How does FAR Part 15 define discussions?

Negotiations with intent to allow proposal revisions

What is the government's right under FAR Part 46 regarding inspection?

Inspect supplies and services before acceptance

What is a key benefit of commercial item acquisition under FAR Part 12?

Streamlined procedures and reduced administrative burden

Which type of item qualifies under commercial item acquisition?

Items available to the general public and sold in substantial quantities

A Justification & Approval (J&A) document is not required when:

Acquiring using Simplified Acquisition Procedures under FAR Part 13

What is a key requirement under the Small Business Act for federal agencies?

Provide maximum practicable opportunity to small businesses

What is the purpose of the Federal Acquisition Regulation (FAR)?

To standardize the federal acquisition process

The Davis-Bacon Act applies to:

Construction contracts over $2,000

According to FAR Part 2, what is an 'offer'?

A response to a solicitation that, if accepted, binds the offeror

Which of the following is true regarding Requests for Proposals (RFPs)?

Include evaluation criteria for negotiated procurements

When should a letter contract be used under FAR Part 17?

When urgency will not permit negotiation of a definitive contract

What defines a small business under FAR Part 19?

NAICS-based size standards set by SBA

What is the government's right under quality assurance?

Inspect deliverables before acceptance

What is a termination for convenience?

The government ends the contract when it is in its best interest

What is a distinguishing feature of a time-and-materials contract?

Payment for labor hours and materials at specified rates

An allowable cost must be:

Reasonable, allocable, and compliant with cost principles

What is the priority order for sources of supplies according to FAR Part 8?

AbilityOne, Federal Prison Industries, Commercial Sources

The government may terminate a contract for convenience when:

Requirements change or are no longer needed

When may an agency limit competition under FAR Part 6?

One responsible source exists/ no other will satisfy the agency’s need

Which of the following is typically an unallowable cost under FAR Part 31?

Advertising and public relations

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Questions 98

Answers

1
What is the minimum percentage of work a small business must perform in a set-aside contract?
50%
20%
25%
75%
2
What kind of contract is best suited for well-defined requirements?
Indefinite-delivery
Time-and-materials
Cost-reimbursement
Firm-fixed-price
3
What is the purpose of cost principles under FAR Part 31?
To determine the allowability, allocability, and reasonableness of costs
To establish profit margins
To determine allowable labor hours
To compare commercial prices
4
Which FAR Part deals with Simplified Acquisition Procedures (SAP)?
FAR Part 15
FAR Part 12
FAR Part 13
FAR Part 7
5
How does FAR Part 15 define discussions?
Award memo preparation
Clarifications without revisions
Negotiations with intent to allow proposal revisions
Public negotiation
6
What is the government's right under FAR Part 46 regarding inspection?
Inspect only when the contractor agrees
Inspect only for contracts over $10 million
Inspect supplies and services before acceptance
Inspect all records related to commercial sales
7
What is the term for any individual authorized to enter into and administer contracts?
Contracting Specialist
Acquisition Advisor
Program Manager
Contracting Officer
8
Which FAR Part governs required sources of supplies and services?
FAR Part 13
FAR Part 6
FAR Part 8
FAR Part 12
9
What is a key benefit of commercial item acquisition under FAR Part 12?
Streamlined procedures and reduced administrative burden
No requirement for fair opportunity
Mandatory set-aside
Reduced competition
10
Which of the following is an acquisition milestone?
Contract closeout
Contractor debrief
Acquisition Plan approval
Purchase Order generation
11
Which FAR part establishes the structure and applicability of the FAR system?
FAR Part 2
FAR Part 15
FAR Part 1
FAR Part 12
12
Which contract type provides for a price that is not subject to adjustment based on the contractor's cost experience?
Cost-plus-incentive-fee
Fixed-price
Indefinite-delivery
Time-and-materials
13
FAR Part 31 applies mostly to which contract type?
Time and materials
Firm-fixed-price
Sealed bidding
Cost-reimbursement
14
What planning process ensures that government requirements are met in a timely and cost-effective manner?
Source selection
Budget forecasting
Contract administration
Acquisition planning
15
FAR Part 49 emphasizes fair treatment of:
The subcontractor
The contracting officer
The public
The terminated contractor
16
Which type of item qualifies under commercial item acquisition?
Items used only in federal facilities
Classified technology
Items available to the general public and sold in substantial quantities
Items developed exclusively for the government
17
Which FAR Part defines commonly used words and terms?
FAR Part 1
FAR Part 2
FAR Part 13
FAR Part 15
18
A Justification & Approval (J&A) document is not required when:
Awarding a sole-source contract over $1M
Conducting a public-private partnership
Citing urgency as a reason for limiting competition
Acquiring using Simplified Acquisition Procedures under FAR Part 13
19
What is a key requirement under the Small Business Act for federal agencies?
Provide full and open competition for all contracts
Award at least 10% of contracts to large businesses
Avoid contracting with non-domestic firms
Provide maximum practicable opportunity to small businesses
20
What is the purpose of the Federal Acquisition Regulation (FAR)?
To provide tax guidelines for contractors
To provide uniform policies and procedures for acquisition
To ensure agencies get the lowest possible price
To standardize the federal acquisition process
21
The Davis-Bacon Act applies to:
IT service contracts
GSA schedule contracts
Service contracts over $2,500
Construction contracts over $2,000
22
What is the micro-purchase threshold under SAP for most acquisitions?
$10,000.00
$20,000.00
$2,500.00
$5,000.00
23
The Contracting Officer must document fair market price determination for:
Competitive sealed bids only
Construction only
Small business set-asides
All acquisitions
24
According to FAR Part 2, what is an 'offer'?
A counter-proposal from the CO
A verbal commitment
A response to a solicitation that, if accepted, binds the offeror
An invoice submitted by a contractor
25
Which FAR Part addresses special contracting methods?
FAR Part 13
FAR Part 17
FAR Part 12
FAR Part 19
26
Which FAR Part covers types of contracts?
FAR Part 13
FAR Part 14
FAR Part 15
FAR Part 16
27
What is the typical use of an RFQ?
Complex source selections
Construction contracts
Negotiated procurements
SAP and FSS buys
28
Which of the following is true regarding Requests for Proposals (RFPs)?
Are only used for simplified acquisition
Include evaluation criteria for negotiated procurements
Only involve sealed bidding
Used under FAR Part 14
29
A contracting officer must use Part 12 procedures when:
Procuring non-commercial services
Acquiring utility services
Issuing a task order
Procuring commercial items
30
When should a letter contract be used under FAR Part 17?
For micro-purchases
For recurring services
For construction contracts only
When urgency will not permit negotiation of a definitive contract
31
What defines a small business under FAR Part 19?
Self-certification only
Less than $1 million revenue
NAICS-based size standards set by SBA
Under 100 employees
32
Which of the following is a feature of Part 15 contracting by negotiation?
No exchanges allowed with offerors
Award without discussions
Lowest price always wins
Best value determination
33
Which Part would govern a simplified purchase of a commercial item?
All of the above
FAR Part 12
FAR Part 13
FAR Part 8
34
What is the government's right under quality assurance?
Accept all work without inspection
Pay immediately upon delivery
Modify contractor internal controls
Inspect deliverables before acceptance
35
What is one of the required elements of an acquisition plan?
The invoice template
A statement of need
The award fee criteria only
A list of contractor names
36
What is a termination for convenience?
The contractor requests to end the contract due to lack of interest
The parties agree to mutual cancellation with a penalty
The contract ends because the contractor failed to deliver
The government ends the contract when it is in its best interest
37
What is a distinguishing feature of a time-and-materials contract?
Payment based only on outcome
Payment for labor hours and materials at specified rates
No labor hour tracking required
Cost-plus-fixed-fee clause
38
Which FAR Part addresses labor laws and standards?
FAR Part 46
FAR Part 31
FAR Part 12
FAR Part 22
39
Which FAR part governs the Service Contract Labor Standards (SCLS)?
FAR Part 44
FAR Part 22
FAR Part 31
FAR Part 15
40
An allowable cost must be:
Reasonable, allocable, and compliant with cost principles
Approved by contractor management
Unbudgeted
Quoted in prior proposals
41
What is the priority order for sources of supplies according to FAR Part 8?
Commercial Sources, Federal Prison Industries, AbilityOne
GSA Advantage, AbilityOne, Commercial Sources
AbilityOne, Federal Prison Industries, Commercial Sources
Federal Supply Schedules, Commercial Sources, AbilityOne
42
Which program under FAR Part 19 is designed to help economically disadvantaged women-owned small businesses?
WOSB Program
Service-Disabled Veteran-Owned Small Business Program
8(a) Business Development
HUBZone Program
43
Under FAR Part 6, what is the preferred method of contracting?
Price-based contracting
Limited competition
Sole source contracting
Full and open competition
44
Who certifies small business size standards?
DCAA
GAO
SBA
CO
45
The government may terminate a contract for convenience when:
The contractor defaults
The CO prefers another vendor
Funding increases
Requirements change or are no longer needed
46
When may an agency limit competition under FAR Part 6?
One responsible source exists/ no other will satisfy the agency’s need
The CO prefers one vendor
During post-award audits
It simplifies administrative work
47
Which document outlines how an agency will acquire a specific supply or service?
Memorandum of Understanding
Purchase Request
Request for Quotation
Acquisition Plan
48
Which of the following is typically an unallowable cost under FAR Part 31?
Depreciation of equipment
Advertising and public relations
Travel costs
Indirect labor
49
Which FAR Part governs contract cost principles and procedures?
FAR Part 12
FAR Part 49
FAR Part 31
FAR Part 46
50
What is FAR Part 12 primarily concerned with?
Small business contracting
Simplified acquisition procedures
Negotiated contracts
Commercial item acquisition
51
FAR Part 22 ensures contractors adhere to which principle?
Lowest price
Labor law compliance
Efficiency bonuses
Commercial terms
52
What is required before executing a multi-year contract?
Funds available for the full term
Determination that it is in the government's best interest
J&A for non-competitive procurement
Approval from the OMB
53
What is a responsibility of the source selection authority (SSA)?
Conduct inspections
Prepare solicitations
Administer GSA schedule orders
Make final decision based on evaluation team input
54
Which action follows a termination for default?
Final invoice approval
Reprocurement at contractor expense
Award fee payment
Deobligation of all funds
55
Which labor act applies to service contracts over $2,500?
Copeland Act
Service Contract Act
Davis-Bacon
Fair Labor Standards Act
56
FAR Part 13 allows oral solicitations if:
The acquisition does not exceed the SAT and promotes efficiency
The value exceeds the SAT
Written documentation is required
It is for GSA schedule buys
57
Which FAR Part governs termination of contracts?
FAR Part 49
FAR Part 31
FAR Part 12
FAR Part 15
58
What is the simplified acquisition threshold (SAT) for most purchases?
$25,000.00
$100,000.00
$150,000.00
$250,000.00
59
How are contract types selected under FAR Part 16?
Random assignment
Based on contractor request
Based on pricing policy
Based on the nature of work, performance risk, and acquisition objectives
60
What is a termination for default?
A mutual decision to end a contract early
When the contractor fails to perform according to the contract
When the government cannot pay on time
When the contractor requests a change order
61
What must the CO issue to formally end a contract?
Contracting Officer Memo
Letter of Dispute
Default Warning
Termination Notice
62
Price realism analysis is used in:
Negotiated acquisitions to assess risk
Fixed-price contracts only
Cost-type contracts
Labor-hour contracts
63
What kind of contract may be used under SAP for recurring services?
Requirements Contract
Cost Plus Fixed Fee
Fixed Price Incentive
Letter Contract
64
Which of the following may result from a termination for default?
The contractor is paid for all delivered work
The government may seek reprocurement costs
The contractor is exempt from any penalties
The contractor receives full payment regardless of performance
65
What defines a reasonable cost under FAR Part 31?
Approved by subcontractor
Always under $50K
Within contractor’s budget
Consistent with market practices and prudent business judgment
66
Which of the following is a special contracting method under FAR Part 17?
Multi-year Contracting
Indefinite-Delivery Contracts
All of the above
Letter Contracts
67
Which of the following best represents the intent of full and open competition?
The government awards to the lowest bidder regardless of qualifications
Competition must be avoided in emergencies
All responsible sources may submit bids or proposals
Only three vendors must be considered
68
According to FAR Part 2, what is the definition of 'contracting officer'?
Any federal employee involved in acquisitions
The individual responsible for inventory control
A person who oversees compliance with labor laws
Person with authority to enter into, administer, or terminate contracts
69
What does FAR Part 31 require for cost allocation?
Proportional spread
Benefit to the contract
Contractor preference
Even distribution
70
In a best value tradeoff under FAR Part 15, what factors may be considered?
Technical approach and past performance
Schedule only
Price and non-price factors
Only price
71
What must a contracting officer do before limiting competition under FAR Part 6?
Justify it in writing and obtain proper approvals
Submit a proposal to GSA
Notify the public
Get contractor approval
72
What does the government typically pay for under a termination for convenience?
Only completed deliverables
Completed work and reasonable costs incurred
Remainder of the contract
Full contract value
73
Which act is enforced under FAR Part 22 to ensure minimum wage and overtime pay?
Buy American Act
Davis-Bacon Act
Fair Labor Standards Act
Service Contract Act
74
Which socioeconomic program under FAR Part 19 is not a set-aside?
WOSB
8(a) Program sole-source
SDVOSB
Mentor-Protégé
75
When should acquisition planning begin?
After market research
At contract closeout
After contractor selection
As soon as the agency need is identified
76
What type of inspection is most commonly performed by the contractor under FAR Part 46?
Internal control verification
Post-payment inspection
Pre-delivery inspection
Final government audit
77
What cost must be excluded from a government contract under FAR Part 31?
Contract labor
Overtime premium
Subcontracting costs
Alcoholic beverages
78
Market research is required:
Only during the proposal stage
When using sole-source contracts only
Only for contracts over $1 million
Before developing new requirements
79
Which document communicates evaluation factors for award?
RFP
Statement of Work
PPIRS
J&A
80
Which of the following is not a valid reason for termination for default?
Contractor refusal to perform
Contractor failure to deliver
Poor documentation
Noncompliance with terms
81
Which document is used to justify an exception to full and open competition?
Determination of Responsibility
Simplified Acquisition Request
Justification and Approval (J&A)
Notice of Intent
82
What is the purpose of Simplified Acquisition Procedures?
To acquire commercial items exclusively
To reduce administrative costs and improve efficiency
To bypass competition rules
To increase oversight of large contracts
83
What does a contractor's quality assurance system ensure under FAR Part 46?
They perform regular audits of competitors
Contracts are terminated timely
They use only subcontractors from the GSA list
Products meet requirements before submission to the government
84
What is the primary risk in a cost-reimbursement contract?
The government bears the risk of cost overruns
The contractor bears the risk of cost overruns
There is no risk involved
The contractor controls the funding
85
What is the purpose of FAR Part 19?
To enforce contract clauses
To establish labor law compliance
To implement small business programs
To promote competition
86
What is a constructive termination for default?
When GSA intervenes in award decisions
When the contractor completes work early
When a contract is terminated through mutual agreement
When the government’s actions prevent performance
87
What is the role of the Integrated Product Team (IPT) in acquisition planning?
Write all contracts
Conduct cost analysis
Manage post-award contract audits
Provide input from stakeholders and subject matter experts
88
Under FAR Part 8, which source must be considered before purchasing from a commercial source?
Open Market
GSA Advantage
Local Vendors
AbilityOne
89
An RFQ results in:
A contract
An offer
A quote, not an offer
A final price agreement
90
Who is responsible for ensuring that competition requirements are met?
Program Analyst
Administrative Officer
Contracting Officer
Legal Counsel
91
Which FAR Part addresses quality assurance in government contracts?
FAR Part 31
FAR Part 15
FAR Part 46
FAR Part 49
92
What is the key reason for market research during acquisition planning?
To determine the most suitable approach to acquiring goods and services
To eliminate competition
To draft the award letter
To identify the lowest bidder
93
Which document is commonly used in negotiated procurements under FAR Part 15?
Request for Information (RFI)
Request for Quotation (RFQ)
Statement of Need (SON)
Request for Proposal (RFP)
94
What FAR Part governs contracting by negotiation?
FAR Part 13
FAR Part 12
FAR Part 14
FAR Part 15
95
Which contract type includes both a ceiling price and profit incentive?
Letter contract
Firm-fixed-price
Fixed-price incentive
Cost-reimbursement
96
Which of the following is not a valid exception to competition under FAR 6.302?
Only one responsible source
Public interest
Vendor preference
National security
97
FAR Part 46 emphasizes the need for:
Sole source documentation
Inspection, acceptance, warranty
Price analysis
Procurement Integrity
98
What is the primary focus of FAR Part 7?
Termination procedures
Acquisition planning
Labor compliance
Contractor performance

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