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ACQ 101 Module 08 & Exam Contract Management fully solved graded A+ 2023
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ACQ 101 Module 08 & Exam Contract Management
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ACQ 101 Module 08 & Exam: Contract ManagementWhich of the following requirements must an offer meet? (Select all that apply) - correct answer *Be clear and unambiguous*
*Have complete terms*
*Be communicated*
*Express intent*
Select the element of contract that best fits the definition of "something of equal value must be exchanged": - correct answer *Consideration*
A mutual assent is when a contract is formed by acceptance of an offer. - correct answer *True*
In order to be legally bound to a contract, a party must have the capacity to understand and appreciate the terms of the contract. Which of the essential elements best fits this description? - correct answer *Competency*
Select each statement that is accurate when binding a contract.(Select all that apply) - correct answer *Common law requires each party to provide consideration with a value of greater than one dollar*
*A contract must be for legal purposes only in order to be binding*
*The element that converts any agreement into a true contract is "intention to create legal relations"*
Which of the following Government agencies are exempt from complying with the FAR? (Select all that apply) - correct answer *Federal Aviation Administration*
*U.S. Mint*
What are the reasons that F&O competition after exclusion of sources may be used? (Select all that apply) - correct answer *Establishing or maintaining alternate sources*
*Fulfilling the SBA objectives for its Section 8(a) Program* *Setting aside work for small business concerns*
Select the tasks that fall under the authority of the Contracting Officer (CO). (Select all that apply) - correct answer *Administer contracts*
*Ensure acquisition complies with CICA*
*Terminate contracts*
Which of the following positions has the authority to enter into, administer, and/or terminate contracts and make related determinations and findings? - correct answer *CO*
Which of the following are examples of a non-materiel solutions? (Select all that apply.) - correct answer *Change in rulemaking*
*Alternative use of existing assets*
Which of the following statements are correct? (Select all that apply) - correct answer *The SOW establishes and defines all non-specification requirements for contractors' efforts either directly or with the use of specific cited documents.*
*The PWS is a statement of work for performance-based acquisitions that describe the required results.*
*The Acquisition Plan serves as the basis for contractual implementation*
*The SOO establishes a broad description of the Government's required performance objectives.*
Which statement is accurate? - correct answer *A sealed bidding award is based on price and price-
related factors*
What is the first step in the sealed bidding process? - correct answer *Prepare invitations for bids*
Which type of contract provides for filling all actual purchase requirements of designated Government activities for supplies or services during a specified contract period, with deliveries or performance to be scheduled by placing orders with the contractor? - correct answer *Requirements*
Which of the following are critical sections of a solicitation? (Select all that apply) - correct answer *Section B, Supplies or services and prices/costs*
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