QUESTIONS AND CORRECT ANSWERS
Which of the following is a guiding principle of the Federal Acquisition System? -
CORRECT ANSWER Maximizing the use of commercial products and services
What is FAR 1.102 titled? - CORRECT ANSWER Statement of Guiding Principles for
the Federal Acquisition System
What is the vision of the Federal Acquisition System? - CORRECT ANSWER Deliver
the best value product or service in a timely manner while maintaining public trust and
fulfilling public policy objectives
Which of the following is NOT a guiding principle of the Federal Acquisition System? -
CORRECT ANSWER Awarding contracts only to the lowest-priced offeror
Who makes up the Acquisition Team? - CORRECT ANSWER Government personnel
(technical, supply, and procurement), contractors, and the customers they serve
How many parts are in the Federal Acquisition Regulation (FAR)? - CORRECT
ANSWER 53
What authority must the contracting officer have regarding the application of rules,
regulations, and policies on a specific contract? - CORRECT ANSWER Authority to
the maximum extent practicable and consistent with law
At what point does acquisition officially begin? - CORRECT ANSWER When agency
needs are established
Which FAR Part contains definitions that generally apply throughout the FAR? - CORRECT
ANSWER FAR Part 2
,A word or term defined in FAR Part 2 applies: - CORRECT ANSWER Throughout the
FAR unless the context clearly requires a different meaning or another FAR part provides an
alternate definition
What is Acquisition in government contracting? - CORRECT ANSWER The process
the government uses to get supplies or services by contract
When does Acquisition begin in government contracting? - CORRECT
ANSWER When agency needs are identified, requirements are described, and planning
starts to fulfill those needs through a contract
What does Bundling mean in government contracting? - CORRECT
ANSWER Combining multiple requirements into one contract, which may limit small
business competition
How can Bundling affect small businesses? - CORRECT ANSWER It can reduce
opportunities for small businesses because large contracts may exceed their capabilities
Who must review and approve Bundling decisions in federal agencies? - CORRECT
ANSWER Agency senior management or small business officials to ensure
justification and compliance with regulations
When must agencies provide a Bundling Justification? - CORRECT ANSWER When
combining two or more requirements into a single contract that could limit small business
participation
What is bundling in government contracting? - CORRECT ANSWER When
combining two or more requirements into a single contract that could limit small business
participation.
Why is bundling a concern in government contracting? - CORRECT ANSWER It may
make it harder for small businesses to compete, reducing competition and potentially
increasing costs.
, What is a claim in government contracting? - CORRECT ANSWER A written request
by a contractor for payment, adjustment, or relief under a contract, usually due to a dispute or
change in requirements.
When can a contractor submit a claim? - CORRECT ANSWER Whenever they believe
they are entitled to additional payment, time, or other relief due to a contract issue, dispute, or
change.
According to FAR, what is the monetary threshold for a claim that must be certified by the
contractor? - CORRECT ANSWER $100,000.
How does the government handle a contractor claim under FAR? - CORRECT
ANSWER The contracting officer must provide a written decision, which can be
appealed to the Board of Contract Appeals or the Court of Federal Claims if disputed.
What is a commercial product? - CORRECT ANSWER A product sold or offered to
the general public for business use.
What is a commercial product under FAR? - CORRECT ANSWER A product that is
sold or offered to the general public for business use and is not created solely to meet
government requirements.
Why does FAR emphasize the use of commercial products? - CORRECT
ANSWER They reduce development time and costs by using items already available in
the marketplace.
What is an indirect cost? - CORRECT ANSWER Costs that support multiple contracts,
like utilities or admin salaries.
What is an indirect cost under FAR? - CORRECT ANSWER A cost incurred for
common or joint purposes that cannot be easily assigned to one contract, such as utilities,
rent, or administrative salaries.