Which one of the following contract types is considered an incentive type contract?

1. Cost Contract
2. Cost Plus Award Fee Contract
3. Firm-Fixed Price
4. Time and Material Contract

Which of the following statements correctly identifies when an indefinite-delivery contract is appropriate to use?)

1. When the specifications/work statement is clearly defined.
2. When it is possible to estimate accurately the extent of and duration of the work.
3. When the exact times and/or quantities of future deliveries are not known at time of award.
4. When uncertainties involved in contractor performance do not permit costs to be estimated.

Which one of the following is a characteristic of cost reimbursable type contracts?

1. The risk to the contractor is high.
2. The contractor shall deliver or risk default.
3. Profit is not limited.
4. Requires maximum government surveillance.

Contracting may employ simplified acquisition procedures for acquisitions of commercial items not exceeding:

1. $7,500,000
2. $2,500
3. $250,000
4. $1,000,000

Select the statement that is INCORRECT when it comes to the requirement to use sealed bidding:

1. It is necessary to conduct discussions with the responding offerors about their bids.
2. The award will be made on the basis of price and other price-related factors.
3. Time permits the solicitation, submission, and evaluation of sealed bids.
4. There is a reasonable expectation of receiving more than one sealed bid.

The Competition in Contracting Act requires _____________.

1. Requirements to be written in a manner that promote full and open competition, in order to obtain maximum competition in obtaining the agency's needs.
2. That all government requirements be solicited under full and open competition without exception.
3. Contracting officers to make the decision on what is considered legal competition.
4. The government to compete all requirements.

Which one of the following is NOT an exception to Other Than Full and Open Competition?

1. Authorized by the Head of the Contracting Activity.
2. Only one responsible source.
3. International agreement.
4. Industrial mobilization.

Which of the following are common elements of a purchase request package? (select all that apply)

1. Contractors Proposal
2. DD Form 2579 Small Business Coordination Record
3. Requirements Documents, SOO,PWS or SOW
4. Independent Government Estimate

In the required sources order of priority, what is the first source for supplies?

1. Wholesale supply sources
2. Federal Prison Industries
3. Inventories of the requiring agency
4. Commercial sources.

The Anti-Deficiency Act prohibits _______________ (select all that apply)

1. Spending money for the purpose approved by Congress.
2. Spending more money than Congress provided.
3. Spending money before Congress provides it.
4. Spending money for purposes other than those approved by Congress.

Enter your answer in the Blanks below "Terms"

• In contract funding terminology, _______________is defined as "the amount representing orders placed, contacts awarded, services received, and similar transactions during an accounting period that will require payment during the same or a future period."
• In contract funding terminology, _______________is defined as "an administrative reservation of funds based on firm procurement request."
• In contract funding terminology, _______________ is defined as "the statutory authority to incur obligations and to make payments out of the US Treasury for specified purposes.
• In contract funding terminology, _______________ is defined as "an actual disbursement of funds in return for goods or services."

In a competitive acquisition under FAR part 15 anticipated to exceed the simplified acquisition threshold, the evaluation criteria must include which of the following

1. Cost, quality (technical), and past experience.
2. Price, quality (technical), and current performance.
3. Cost or price, quality (technical), and past performance.
4. Cost or price, quality (technical), and past experience.

If the requirement's goal is to increase the on orbit life and performance of a Global Positioning Satellite (GPS) through improved battery life, what type of incentive is most appropriate?

1. Cost incentive.
2. Performance incentive.
3. Delivery incentive.
4. Subcontracting incentive.

Select the source selection role that has the following responsibility:

"Selects the source whose proposal offers the best value to the Government in accordance with the evaluation criteria and basis for award stated in the solicitation.

1. Source Selection Advisory Council (SSAC)
2. Procuring Contracting Officer (PCO)
3. Source Selection Authority (SSA)
4. Source Selection Evaluation Board (SSEB)

Select the source selection role that has the following responsibility:

"Conducts a comprehensive review and evaluation of proposals based solely on the evaluation criteria outlined in the RFP."

1. Procuring Contracting Officer (PCO)
2. Source Selection Advisory Council (SSAC)
3. Source Selection Authority (SSA)
4. Source Selection Evaluation Board (SSEB)