Newest 2026 Questions and Correct Detailed
Answers Already Graded A+
market research planning - CORRECT ANSWER-1) potential solutions in
marketplace and govt
2) availability of commercial services
3) current market price
4) terms and conditions
5) industry standards
6) specific requirements
7) potential risks
technical skills for market research - CORRECT ANSWER-comparative analysis,
quantitative data, qualitative data, financial analysis
performance based acquisition strategy - CORRECT ANSWER-at least 40%
performance indicator
,Statement of Work (SOW) - CORRECT ANSWER-1) describes work to be
performed or services rendered
2) defines responsibilities of gov't and contractor
3) provides objectives measure of completed work
Performance Work Statement (PWS) - CORRECT ANSWER-1) emphasizes
outcomes
2) usually, simplified contract administration
3) may include positive/negative incentives
4) shifts responsibilities for achieving acceptable performance to the contractor
technical requirements must be SMART, which stands for - CORRECT ANSWER-
specific, measurable, attainable, relevant, timely
recurring requirements - CORRECT ANSWER-repetitive purchase of the same
product or service over a set time period
types of contracts - CORRECT ANSWER-1) fixed-price (FFP)
2) cost-reimbursement (CPFF)
3) incentive
,4) indefinite-delivery
5) time and materials, labor-hour, and letter
FFP key features - CORRECT ANSWER-- price wont change with contractors
cost increase
- risk and responsibility for costs mainly on contractor
- gov't contract administration minimized
- preferred contract type
FFP contract is best used when - CORRECT ANSWER-- work can be clearly
defined
- reasonable price comparisons
- realistic estimates are possible
- stable environment/requirements
FAR - CORRECT ANSWER-Federal Acquisition Regulation
FAR must follow - CORRECT ANSWER-1) commit to fair and open competition
2) ensure responsible use of taxpayer money
3) maintain highest ethical standards
, COR general responsibilities - CORRECT ANSWER-1) acquisition planning
2) market research
3) contract/performance management
COR traits - CORRECT ANSWER-technical expertise and familiarity with all
aspects of the contract
COR specific duties - CORRECT ANSWER-1) furnish technical direction and
monitor contract performance
2) maintain independent relationship
3) ensure contractors are paid for authorized services/materials only
4) review, accept, and reject deliverables
OFPP - CORRECT ANSWER-Office of Federal Procurement Policy
mission of FAI - CORRECT ANSWER-ensure the development of a federal
acquisition workforce
COR planning purpose - CORRECT ANSWER-1) validate identified need