CON 170 MIDTERM EXAM QUESTIONS AND CORRECT
ANSWERS 2023 | Defense Acquisition University
1. Which of the following statements most closely summarizes government pricing
objectives? b. Acquire goods and services from responsible sources at fair
and reasonable prices.
2. As a contract specialist, you should be aware that:
a) Different sellers in the same market may have different pricing objectives and
approaches.
b) Sellers in different markets often have different approaches to contract pricing.
c) A single firm may have different objectives and approaches in different contracting
situations.
d) All of the above.
3. In a competitive market, the seller must consider the four “P”s of marketing:
c. Price, product, place, and promotion.
4. Market research information may come from many and varied sources. Prospective
offerors are frequently good sources of information, but care must be taken to
preserve procurement integrity while gathering data. Which of the following
techniques is not a valid method of obtaining market research information from
prospective offerors?
a) Public hearings.
b) One-on-one meetings.
c) Requests for information.
d) Sealed bidding.
5. Considering non-governmental sources of economic and market data, what
organization develops data based on the actual experience and projections of
purchasing managers throughout the country?
a) The Bureau of Labor and Statistics.
b) The Institute for Supply Management.
c) The National Index Register.
d) The Federal Board of Purchasing
This study source was downloaded by 100000866603821 from CourseHero.com on 06-26-2023 06:27:52 GMT -05:00
https://www.coursehero.com/file/199079736/MIDTERM-EXAM-QAdocx/
, 6. The contract specialist must know how to select the best type of contract to be used
in a particular procurement. Which of the following is NOT a consideration when
selecting contract type?
a) Availability of funds.
b) Competitive nature of the requirement.
c) Adequacy of the contractor’s accounting system.
d) Type and complexity of the requirement.
7. What type of fixed- price contract involves a profit-sharing formula?
a) Fixed-price award fee.
This study source was downloaded by 100000866603821 from CourseHero.com on 06-26-2023 06:27:52 GMT -05:00
https://www.coursehero.com/file/199079736/MIDTERM-EXAM-QAdocx/
CON 170 MIDTERM EXAM QUESTIONS AND CORRECT
ANSWERS 2023 | Defense Acquisition University
1. Which of the following statements most closely summarizes government pricing
objectives? b. Acquire goods and services from responsible sources at fair
and reasonable prices.
2. As a contract specialist, you should be aware that:
a) Different sellers in the same market may have different pricing objectives and
approaches.
b) Sellers in different markets often have different approaches to contract pricing.
c) A single firm may have different objectives and approaches in different contracting
situations.
d) All of the above.
3. In a competitive market, the seller must consider the four “P”s of marketing:
c. Price, product, place, and promotion.
4. Market research information may come from many and varied sources. Prospective
offerors are frequently good sources of information, but care must be taken to
preserve procurement integrity while gathering data. Which of the following
techniques is not a valid method of obtaining market research information from
prospective offerors?
a) Public hearings.
b) One-on-one meetings.
c) Requests for information.
d) Sealed bidding.
5. Considering non-governmental sources of economic and market data, what
organization develops data based on the actual experience and projections of
purchasing managers throughout the country?
a) The Bureau of Labor and Statistics.
b) The Institute for Supply Management.
c) The National Index Register.
d) The Federal Board of Purchasing
This study source was downloaded by 100000866603821 from CourseHero.com on 06-26-2023 06:27:52 GMT -05:00
https://www.coursehero.com/file/199079736/MIDTERM-EXAM-QAdocx/
, 6. The contract specialist must know how to select the best type of contract to be used
in a particular procurement. Which of the following is NOT a consideration when
selecting contract type?
a) Availability of funds.
b) Competitive nature of the requirement.
c) Adequacy of the contractor’s accounting system.
d) Type and complexity of the requirement.
7. What type of fixed- price contract involves a profit-sharing formula?
a) Fixed-price award fee.
This study source was downloaded by 100000866603821 from CourseHero.com on 06-26-2023 06:27:52 GMT -05:00
https://www.coursehero.com/file/199079736/MIDTERM-EXAM-QAdocx/
