(CONT 1300 Exam Review: 2026 Test Preparation)
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Terms in this set (57)
Page 1 3/30/2026, 4:48:56 PM
, (CONT 1300 Exam Review: 2026 Test Preparation)
Offer
A response to a solicitation that, if accepted,
would bind the offeror to perform the resultant
contract.
Two Types of Offers
1. Bid - An offer to perform the work described in
a contract at a specified cost. Government bids
are generally cost-specific, based on the cost of
labor, materials, profit, and overhead
2. Proposal - A government proposal, sometimes
called a government contract proposal, is a
response written by a private company to a
public government agency for the purchasing of
goods or services
Quote
Used to obtain pricing for a specific number of
well-defined items (This is a quotation, not an
Offer)
Solicitations
Used in negotiated acquisitions to communicate
your requirements to prospective contractors
and to solicit proposals
The Lowest Price Technically Acceptable (LPTA)
includes
1. Evaluation factors and sub factors shall be in
the solicitation
2. Based on Lowest Price and Technically
Acceptable Offer
3. Solicitations shall specify that award will be
made on basis of LPTA
Risk
A measure of future uncertainties in achieving
program goals and objectives within defined
cost, schedule, and performance constraints
Page 2 3/30/2026, 4:48:56 PM
Save
C
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T
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a
m
R
e
vi
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Terms in this set (57)
Page 1 3/30/2026, 4:48:56 PM
, (CONT 1300 Exam Review: 2026 Test Preparation)
Offer
A response to a solicitation that, if accepted,
would bind the offeror to perform the resultant
contract.
Two Types of Offers
1. Bid - An offer to perform the work described in
a contract at a specified cost. Government bids
are generally cost-specific, based on the cost of
labor, materials, profit, and overhead
2. Proposal - A government proposal, sometimes
called a government contract proposal, is a
response written by a private company to a
public government agency for the purchasing of
goods or services
Quote
Used to obtain pricing for a specific number of
well-defined items (This is a quotation, not an
Offer)
Solicitations
Used in negotiated acquisitions to communicate
your requirements to prospective contractors
and to solicit proposals
The Lowest Price Technically Acceptable (LPTA)
includes
1. Evaluation factors and sub factors shall be in
the solicitation
2. Based on Lowest Price and Technically
Acceptable Offer
3. Solicitations shall specify that award will be
made on basis of LPTA
Risk
A measure of future uncertainties in achieving
program goals and objectives within defined
cost, schedule, and performance constraints
Page 2 3/30/2026, 4:48:56 PM
