1.Which incentive contract provides for the adjustment of profit and the establishment of the final contract prices by applying a formula based on the relationship of final negotiated cost to total target cost?

a.fixed-price incentive contract

b.fixed-price incentive (firm target) contract

c.fixed-price incentive (successive targets) contract

d.cost-plus-incentive-fee contract

2.Which is a concern that affects the use of incentive contracts?

a.risk to the government

b.increased cost

c.increased contract management

d.all of the above

3.Which is true of an acquisition that provides government property (GP)?

a.The government does not have to consider any cost savings maintained by an incumbent competing for a contract.

b.The government must eliminate any potential competitive advantage of any contractor possessing government-furnished property.

c.The government may not adjust offers of contractors proposing to use government-furnished property.

d.none of the above

4.What impact does government policy have on the provision of GP during acquisition planning?

a.Appropriate documents must be included in the request for quotation (RFQ) that identifies that GP will be available.

b.All proposals must be treated equally if GP is available.

c.Proposals submitted by vendors must reflect the use of GP, and cost should be adjusted as appropriate.

d.all of the above

5.Which statement is correct regarding government contracting and damaged or unreturned GP?

a.The government can take funds away from the contractor in the form of contract debt for damaged or unreturned GP.

b.The government does not have to pay a contractor at all if GP is damaged or unreturned.

c.The government can withhold payment to the contractor until damaged or unreturned property is replaced.

d.none of the above

21. The government meets socioeconomic objectives in the procurement process through a(n) __________.

a.8(a) program

b.small business set-aside

c.both A and B

none of the above