CON 3990V Exam Prep Questions All Correct with Verified Answers
A cost reimbursement type Contract Place is upon the contractor, maximum risk and responsibility for all cost and resulting profit or loss. True or false
Correct Answer:
False
Call Sarah advertisement types of contracts are required. The contractor to put forth the best effort to perform, and provide for payment of the contractors, allowable, allocable, and reasonable incurred cost. true or false.
Correct Answer:
True
a cost plus a percentage of cost system of contracting is prohibited. True or false
Correct Answer:
True
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What are elements of a fixed price incentive firm contract?
Correct Answer:
-Target cost -Target profit -Ceiling price -Profit adjustment formula
A cost person of the contract specifies a Target cost, a target fee, a minimum and maximum fees, and a free adjustment formula. True or false
Correct Answer:
True
What are the two forms of cost plus fix fee contracts?
Correct Answer:
Term and completion
A Kermit instrument identifier is a unique number, identifying each solicitation, contract, agreement, or order and related procurement instrument.True or false
Correct Answer:
True
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Supplementary P I,IDS, are used to identify amendments to solicitations and modifications to contracts, orders, and agreements. True false
Correct Answer:
True
What are the four parts of the uniform contract format?
Correct Answer:
1-the schedule 2-contract causes 3-list of documents, exhibits, and other attachments 4-representations and instructions
Upon award, contracting officer's shall not physically include part for in the resulting contract, but shall retain it in the contract file. The representations and certifications are Inc. by reference in the contract by using 52.204-19, or for acquisition of commercial items. True or false
Correct Answer:
One reason the FAR encourages exchanges with industry before receipt of proposal is to?
Correct Answer:
To improve the governments, understanding of industry capabilities
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Prior to receipt of the proposals, one on one meeting with potential offers are?
Correct Answer:
Encouraged
Define department of the defense acquisition apartment, so they can be met with commercial items is?
Correct Answer:
Highly encourage
Industry participation in improving military acquisition requirements is?
Correct Answer:
Encouraged
Market research helps CO devils solicitation provisions and contract clauses.Information from market research can?
Correct Answer:
-uncover best commercial practices that business use to acquire similar goods and services -highlight commercial specifications that may meet military needs -identify restrictive terms that will reduce competition -deepen our understanding of the best criteria for selecting a company for contract award
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