Contracting Study guides, Class notes & Summaries

Contracting Exam 1 Questions and Answers 3 phases of contracting - Answer️️ -contract planning, contract formation, contract administration source of the government's contracting powers - Answer️️ -The Constitution The constitution is the heart of the - Answer️️ -American legal system 3 branches of government - Answer️️ -legislative, executive, judicial 3 types of contracting officers - Answer️️ -PCO, ACO, TCO KO primarily engaged in awarding contracts - Answer️️ ...

L3ABR6C031 Contracting Apprentice Block 2 Exam Questions With Verified Answers 7A-123.) Which FAR Part dictates how the federal government conducts market research? - answerFAR Part 10, Market Research 7A-123.) What is "market research" IAW FAR Subpart 2.101? - answerMarket research is "collecting and analyzing information about capabilities within the market to satisfy agency needs" 7A-123.) How shall market research be conducted according to FAR Subpart 10.001? - answer1.) Appropriate...

Contracting_Test_3_Final Exam Questions With Verified Answers How many provisions and clauses are required in a commercial items contract? - answerThere are only two provisions and two clauses that are mandatory for commercial items. Why provide contract financing? - answer- High dollar production - Expedited performance - Broadening of the production base - Increased competition - Aid to small businesses - Fosters liberal lending by private lending institutions • Meets contractors ...

Contracting Officer Warrant Board Questions With Verified Answers You are the PCO for a major competitive negotiated source selection. The RFP, which reflects the user's requirements and is based on the user's budget, has a requirement for 220 cargo loaders to be delivered at 55 per year over the next four years. One offeror proposes to deliver all 220 loaders in the first year at a dramatically reduced price. Can you accept the offeror's proposal? What factors should you consider in yo...

Contracting Final Exam Questions With 100% Correct Answers 6 essential elements of a contract. - answerMutual Assent Consideration Capacity Lawful Purpose Certainty of Terms Form Provided by Law Mutual Assent - answerat least two people, meetings of the minds o Consideration - answerEach party receives something of value and gives something of value, everybody benefits, Must be mutual. o Capacity- - answerIn order to be legally bound to a contract, a party must have the capacity to u...

Last Contracting Exam 6 Questions With 100% Correct Answers Essential Contract Elements: - answer-Mutual Assent: (Valid Offer & Acceptance "Meeting of the Minds"). -Consideration (Each party receives something of value and gives something of value) -Capacity (a party must have the capacity to understand and appreciate the terms of the contract) -Lawful Purpose(Obey the FAR & Statutes, Anti Deficiency) -Certainty of Terms (Clear terms) -Form provided by law (Written, Oral, Implied throu...

Contracting Exam 3 Questions With 100% Correct Answers Know the 6 essential elements of a contract: - answer1. Mutual Assent: (Valid Offer & Acceptance "Meeting of the Minds"). 2. Consideration (Each party receives something of value) 3. Capacity (Competence & Authority) 4. Lawful Purpose(Obey the FAR & Statutes, Anti Deficiency) 5. Certainty of Terms (Clear terms) - Must include the following: • Price • Delivery schedule • Quantity • PWS/SOW 6. Form provided by law (Writte...

Contracting Exam Final Questions With 100% Correct Answers The 3-in-1 Tool automates the following form - answerSF 44 All contract requirements over the Simplified Acquisition Threshold (SAT) require - answerAn independent government estimate All purchase requests must meet two requirements - answerGood item description, certified funds Although LDs are commonly used on ____________ contracts, they can also be used on other contracts except ______________ contracts - answerFFP, Servic...

Contracting Officer Unlimited Warrant Board Exam Questions With Verified Answers What is an option? - answerAn option is a unilateral right in a contract, for a specific period of time, where the Government may elect to purchase additional supplies or services called for by the contract, or extend the period of performance. The PCO should use options when (1) in the Governments best interest, (2) there is a need for service beyond the initial period, and (3) to ensure continuity of servic...

Contracting Officer warrant board questions.