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Exam (elaborations)

ABCC EXAM #1 QUESTIONS WITH COMPLETE SOLUTIONS!!

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ABCC EXAM #1 QUESTIONS WITH COMPLETE SOLUTIONS!!

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ABCC
Course
ABCC

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ABCC EXAM #1
QUESTIONS WITH
COMPLETE
SOLUTIONS!!
ABCC

Evatee 9/3/24 ABCC

, ABCC EXAM #1 QUESTIONS WITH COMPLETE
SOLUTIONS!!


What is the basic reference guide for Government pricing? Answer - Contract
Pricing Reference Guide (CPRG)


What are the three elements of the Basic Pricing Policy? Answer - Purchase
from responsible sources at Fair & Reasonable Prices. Price each contract
separately and independently. Exclude contingencies.


What is fair and reasonable price? Answer - Fair to both parties; too high or
too low; to a prudent & competent buyer


What is a contingency? Answer - Future event or condition we did not expect
to happen


What is the dollar threshold for TINA? Answer - $750K


Exceptions to TINA Answer - adequate price competition (2 or more)
price set by law/regulated price
Commercial item
waiver - from head of the contracting agency


What is it called when TINA is violated? Answer - Defective Pricing
Report Copyright Violation

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Institution
ABCC
Course
ABCC

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Uploaded on
September 3, 2024
Number of pages
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Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

Subjects

  • what is a continge
  • abcc exam 1 questions with complete solutions
  • what is the basic reference guide for government p
  • what are the three elements of the basic pricing p
  • what is fair and reasonable price
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