CLC 011 Contracting for the rest of us Exam Complete Solution Top Grade

1) Cost analysis is: [Differentiate between price analysis and cost analysis.] the evaluation of the separate cost elements and profit in an offeror's proposal. the review and evaluation of the bottom-line price in an offeror's proposal. the comparison of all cost proposals to determine the correlation between their proposed profit rates. the review and evaluation of the separate cost elements in a proposal, excluding profit. ________________________________________ 2) In what stage of the acquisition cycle should strategic market research be conducted? [List the considerations involved with meeting the customer's requirement.] Strategic market research is an ongoing process through all phases of the acquisition cycle Prior to contract expiration and before solicitation of the follow-on contract After requirements are completely known Immediately prior to contracting for supplies or services ________________________________________ 3) Alternate Dispute Resolution (ADR) procedures: [Differentiate among the various types of changes to original contract terms and conditions.] [Remediation Accessed :N] are the Government's preferred method for dealing with a dispute with a contractor. are permitted only for disputes involving contract actions over $10 million. are permitted only for disputes involving contract actions over $5 million. are permitted only after the contractor has first taken a contract dispute to the Armed Services Board of Contract Appeals. ________________________________________ 4) The Material Inspection and Receiving Report — the multi-purpose document that serves as evidence of inspection and acceptance, shipping document, receiving document, and contractor invoice — is designated as the: [Identify the steps involved in contract payment and contract closeout.] DD Form 250 SF 26 SF 1449 DD Form 1597 ________________________________________ 5) The administrative contracting officer (ACO) is responsible for: [Select the essential elements of monitoring contract performance.] [Remediation Accessed :N] overseeing contract performance, Government acceptance, and payment. making the actual contract award. ensuring that small businesses receive their fair share of contract awards. determining which supplies or services are needed to meet the customer's mission requirements. ________________________________________ 6) Which THREE of the following statements are correct? (select three) [Identify the source selection issues that contracting officers must consider.] The Governmentwide Commercial Purchase Card can be used for purchases at or below the micro-purchase threshold Price analysis is required for every procurement, regardless of its dollar value At least three competitive quotes must be obtained for purchases at or below the simplified acquisition threshold At least three competitive quotes must be obtained for purchases at or below the micro-purchase threshold ________________________________________ 7) Federal regulations require that contracting officers publicize proposed contract actions expected to exceed which of the following dollar thresholds? [Identify the steps for publicizing the requirement.] $25,000 $50,000 $100,000 $500,000 ________________________________________ 8) Select the TWO statements from the choices below that are accurate statements (select two): [List the relevant issues involved with making contract awards.] [Remediation Accessed :N] Contract bundling often results in the loss of revenue for small businesses Contract bundling often results in a more efficient award process for the Government Contract bundling often results in a less efficient award process for the Government Contract bundling often results in an increase in revenue for small businesses ________________________________________ 9) Which one of these statements is TRUE? [Compare the various contract types and evaluation methodologies.] [Remediation Accessed :N] Fixed-price contracts place more risk on the contractor than do cost-reimbursement contracts Fixed-price contracts place approximately equal risk on the contractor as do cost-reimbursement contracts When using a fixed-price economic price adjustment contract, the limits on price decreases must be twice the limits on price increases The most important factor when selecting a contract type is the business size of the contractor 1) Which one of the following situations is least likely to lead to a breach of the contract? [Differentiate among the various types of changes to original contract terms and conditions.] [Remediation Accessed :N] The Government issues a unilateral change order for a contract to correct a minor administrative error The Government issues a unilateral change order for a construction contract to correct information regarding differing site conditions The contractor fails to deliver at least 50% of the supplies on the contract due to inability to pay its employees a premium for overtime work The contractor fails to provide required data on a system it installed for the Government, although the system is working in accordance with requirements ________________________________________ 2) An unauthorized commitment occurs when: [Select the essential elements of monitoring contract performance.] an agreement is not binding because the Government representative who made it lacked the proper authority. an award is made to a large business when the award should have been set aside for a small business. a contracting officer issues a change order to the contractor without signing it to make it a legally enforceable document. a contracting officer informs a contractor that he/she looks forward to working with the contractor on future Government contracts. ________________________________________ 3) Which one of the following is CORRECT regarding "contract splitting"? [List the relevant issues involved with making contract awards.] It may be permitted to maintain one or more contractors’ null productive capabilities It is permitted for the purpose of making an award to a favored large business It is permitted for the purpose of making one or more awards using simplified acquisition procedures It is permitted for the purpose of making one or more awards below the micropurchase threshold ________________________________________ 4) Which one of the following is a characteristic common to fixed-price contract types? [Compare the various contract types and evaluation methodologies.] The contractor is obligated to deliver a specific supply or service The contractor is obligated to provide "best effort" in attempting to perform the work The Government is obligated to pay all reasonable costs incurred by the contractor The contractor can increase its profit by increasing the cost of performing the work under the contract 1) A cure notice: [Differentiate among the various types of changes to original contract terms and conditions.] provides the contractor a period of 10 days in which to correct a failure in contract performance. advises the contractor of the consequences of a termination, and asks the contractor to explain why the contract should not be terminated. provides the contactor a period of 30 days to correct a failure in contract performance. advises the contractor that the contract will be terminated within 30 days if the failure in contract performance is not corrected within 7 working days.