CLC 011 Contracting for the Rest of Us Exam
questions and answers Graded A+
Which one of the following is a characteristic common to fixed-price contract
types? - ✅✅The contractor is obligated to deliver a specific supply or service
(CORRECT)
Federal regulations require that contracting officers publicize proposed contract
actions expected to exceed which of the following dollar thresholds? -
✅✅$25,000 (CORRECT)
You and your team are asked to conduct market research on a specific upcoming
requirement for computers. You will be conducting: - ✅✅Requirements market
research (CORRECT)
Select the TWO statements from the choices below that are accurate statements
(select two): - ✅✅Contract bundling often results in an increase in revenue for
small businesses (WRONG)
Contract bundling often results in a more efficient award process for the
Government (CORRECT)
The contracting officer representative (COR): - ✅✅assists the contracting
officer with ensuring that the contractor is performing the work requirements of
the contract (WRONG)
can be delegated the authority (in writing) to terminate the contract of a
contractor that is not performing in accordance with contract requirements
(WRONG)
, Alternate Dispute Resolution (ADR) procedures: - ✅✅are the Government's
preferred method for dealing with a dispute with a contractor (WRONG)
Which one of the following situations is least likely to lead to a breach of the
contract? - ✅✅The Government issues a unilateral change order for a contract
to correct a minor administrative error (CORRECT)
Cost analysis is: - ✅✅the review and evaluation of the separate cost elements
in a proposal, excluding profit (WRONG)
the review and evaluation of the bottom-line price in an offeror's proposal
(WRONG)
the evaluation of the separate cost elements and profit in an offeror's proposal
(CORRECT)
Which THREE of the following statements are correct? - ✅✅The Government
Commercial Purchase Card can be used for purchases at or below the micro-
purchase threshold
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
(CORRECT)
Progress payments? - ✅✅are a form of contract financing payable before the
deliverables are accepted (WRONG)
Cannot exceed 50% of the costs incurred by the contractor at a specified point
during contract performance (WONRG)
questions and answers Graded A+
Which one of the following is a characteristic common to fixed-price contract
types? - ✅✅The contractor is obligated to deliver a specific supply or service
(CORRECT)
Federal regulations require that contracting officers publicize proposed contract
actions expected to exceed which of the following dollar thresholds? -
✅✅$25,000 (CORRECT)
You and your team are asked to conduct market research on a specific upcoming
requirement for computers. You will be conducting: - ✅✅Requirements market
research (CORRECT)
Select the TWO statements from the choices below that are accurate statements
(select two): - ✅✅Contract bundling often results in an increase in revenue for
small businesses (WRONG)
Contract bundling often results in a more efficient award process for the
Government (CORRECT)
The contracting officer representative (COR): - ✅✅assists the contracting
officer with ensuring that the contractor is performing the work requirements of
the contract (WRONG)
can be delegated the authority (in writing) to terminate the contract of a
contractor that is not performing in accordance with contract requirements
(WRONG)
, Alternate Dispute Resolution (ADR) procedures: - ✅✅are the Government's
preferred method for dealing with a dispute with a contractor (WRONG)
Which one of the following situations is least likely to lead to a breach of the
contract? - ✅✅The Government issues a unilateral change order for a contract
to correct a minor administrative error (CORRECT)
Cost analysis is: - ✅✅the review and evaluation of the separate cost elements
in a proposal, excluding profit (WRONG)
the review and evaluation of the bottom-line price in an offeror's proposal
(WRONG)
the evaluation of the separate cost elements and profit in an offeror's proposal
(CORRECT)
Which THREE of the following statements are correct? - ✅✅The Government
Commercial Purchase Card can be used for purchases at or below the micro-
purchase threshold
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
(CORRECT)
Progress payments? - ✅✅are a form of contract financing payable before the
deliverables are accepted (WRONG)
Cannot exceed 50% of the costs incurred by the contractor at a specified point
during contract performance (WONRG)
