need assistance on the following study questions?

TRUE or FALSE (Choose one): When approval of a contractor's purchasing system is withheld or

withdrawn, the Administrative Contracting Officer (ACO) shall within 10 days after completing the

Reference: ____________

18. Which of the following is NOT a necessary element of a binding contract?

a. Addendum

b. Consideration

c. Clear terms and conditions

d. Offer

19. Funds for federal acquisitions are appropriated by the

a. Legislative branch.

b. Judicial branch.

c. Executive branch.

d. Department of the Treasury.

20. The Federal Acquisition Regulatory Council is part of which of the following?

a. Congress

b. The courts

c. The Executive branch

d. The Department of Defense

21. A major role of the judicial branch in the acquisition process is

a. To appropriate funds.

b. To review budget authority.

c. To develop procurement policies.

d. To decide disputes between the government and contractors.

22. Which of the following is not a source of Federal Contract Law?

a. Statutes

b. Constitution

c. Common law

d. Public opinion polls

23. The Federal Acquisition Regulation System was created

a. To provide a single, uniform acquisition regulation for all executive agencies.

b. About the same time as the U.S. Constitution.

c. To confuse government employees and contractors.

d. As a non-binding reference guide.

24. To research recent approved FAR changes, you must consult

a. FedBizOpps.

b. The Office of Management and Budget (OMB) Circulars.

c. The Federal Acquisition Circulars (FACs).

d. Executive Orders.

25. In the federal acquisition process, a contract is awarded and administered by the

a. Program Manager.

b. Comptroller.

c. Contracting Officer (CO).

d. Contracting Officer's Representative (COR).

26. In the federal acquisition process, monitoring the technical performance of government contractors,

inspecting deliverables, and comparing progress with the cost objectives are typical post-award duties

delegated to the

a. Procurement analyst.

b. Quality assurance personnel.

c. Small business advocates.

d. Contracting Officer's Representative (COR).

27. A set-aside is

a. An unsolicited procurement.

b. An acquisition reserved for small business concerns.

c. A procurement reserved for businesses in Chapter 11 status.

d. A procurement that need not be acted upon due to lack of funds.

28. Which of the following is NOT a type of set-aside acquisition?

a. Partial small business

b. Total small business

c. DoD procurements

d. Historically Underutilized Business Zone small business

29. Which of the following methods of procurement is characterized by availability of precise specifications

and the absence of discussions with offerors?

a. Small Purchase procedures

b. Sealed Bidding

c. Two-Step Sealed Bidding

d. Negotiation

30. Which of the following types of contract is typically used when there are minimal risks involved in

contracting for supplies or services?

a. Cost plus fixed fee

b. Firm fixed-price

c. Time and materials

d. Basic ordering agreement

31. Which of the following documents is written when negotiation of a definitive contract is not possible in

time to meet a government requirement?

a. Letter contract

b. Time and materials contract

c. Labor hour contract

d. Basic ordering agreement

32. What is the most common way to publicize a proposed contract action, contract awards, and other

acquisition information?

a. Local newspaper

b. Federal Register

c. Agency websites of business opportunities

d. Governmentwide Point of Entry (GPE)

33. In sealed bidding, which of the following is one of the factors used to determine the lowest evaluated

bid price?

a. Possibility of making multiple awards

b. Firm-bid rule

c. Competitive range

d. Certified price data

34. During the technical evaluation of a proposal or quotation, evaluators must take into account thea.

Instructions for proposal preparation.

b. Requirements documents and related aspects of the schedule.

c. The written language of the quotations or proposals.

d. All of the above.

35. A fair and reasonable price is a price that

a. Is fair to buyers and sellers.

b. Represents the lowest possible price.

c. Limits profits to a maximum of 10%.

d. Is high enough to fully reimburse the contractor for the costs of performance.

36. Which of the following is NOT an acceptable basis on which to file a protest to a solicitation or a

contract award?

a. Allegations that specifications are too restrictive

b. Allegations that a nonresponsible bid was accepted

c. Allegations that award was improperly made

d. Allegations that the Contracting Officer was uncooperative

37. The document that should specify both the contractor and the government's performance milestones

is

a. Acquisition plan.

b. Purchase request.

c. Contract administration plan.

d. Procurement plan.

38. The following is an example of a unilateral contract modification: An administrative change that does

not affect the contract price

a. A contract modification signed by the Contracting Officer and the contractor

b. A negotiated change that results in a supplemental agreement

c. A contract modification issued by the contractor

39. Failure to adhere to contract terms concerning labor rates or subcontracting goals is an example of

what type of contractor performance problems?

a. Schedule

b. Cost

c. Quality

d. Compliance

40. Which of the following is a situation for which a Contracting Officer would typically issue a Stop Work

order?

a. The government cannot furnish property or service per the contract schedule.

b. During technical review of contractor warranties

c. During inspection of contractor's product or services

d. All of the above

41. Which one of the following factors is not considered in determining whether a contractor's invoiced

costs are allowable?

a. Reasonableness

b. Allocability

c. Terms of the contract

d. Loan financing

42. A contractor must submit a certificate that a claim is made in good faith if the claim exceeds

a. $50,00

b. $100,000

c. $150,000

d. $300,000

43. Which of the following is a valid reason for terminating a contract?

a. The government appoints a new Project Officer.

b. The Contracting Officer learns of a lower priced commercial item.

c. The government can finish the work at a lower cost.

d. The government no longer has a requirement for the services.

44. Verifying that all required supplies and services associated with a contract have been delivered and

accepted is a step in

a. Contract closeout

b. Debriefing

c. Technical evaluation

d. Procurement planning

45. Soliciting or accepting any gift, favor, entertainment, loan, or anything of monetary value from

someone who seeks government business with your agency is an example of which of the following?

a. Bribery

b. Kickback

c. Collusive bidding

d. Contingency fee

46. Which of the following is acceptable conduct for government personnel?

a. Conspiring to defraud the government

b. Disclosing source selection information

c. Verifying claims using independent sources

d. All of the above

47. Which of the following is acceptable conduct for contractors?

a. Offering employment to a government employee

b. Engaging in indefinite quantity contracting

c. Paying a brokerage fee to secure a government contract

d. Engaging in collusive bidding

48. Which of the following best states the ultimate goal of cost analysis? Reduce the fee or profit proposed

by the offeror.

a. Reach agreement with the offeror on every element of cost.

b. Reach an overall agreement on price even if the parties disagree on the dollar figure for

indirect costs.

c. Obtain a significant reduction in every proposed element of cost, including fee or profit.

49. Which of the following statutes is NOT one of the four basic statutes that govern the federal

acquisition process?

a. Contract Disputes Act

b. Armed Services Procurement Act

c. Small Business Act

d. Federal Procurement Policy Act

50. A key procurement document prepared by the requiring activity is to provide the Contracting Officer

with the information and approvals necessary for initiating a procurement is the

a. Contract.

b. Purchase request.

c. Source list.

d. Synopsis.