ACO CORB Exam Questions With 100% Correct Answers

ACO CORB Exam Questions With 100% Correct Answers What are the responsibilities of an ACO? - answerThe ACO is responsible to ensure the best interest of the Government is protected by ensuring the terms and conditions of the contracts are appropriate and that all parties execute the contract according to the terms and conditions of the contract. The ACO is responsible for ensuring the DCMA mission of providing Contract Administration services to DOD activities and its partners of the delivery of quality products and services to the warfighter, on time and on cost, by properly administrating FAR 42.302 and other applicable regulations and instructions. FAR 1.602-2 - "Contracting officers are responsible for ensuring performance of all necessary actions for effective contracting, ensuring compliance with the terms of the contract, and safeguarding the interests of the United States in its contractual relationships." What is the difference between an ACO and a CA? - answera. The ACO has a warrant that binds the government. The ACO decisions and documents are binding. b. The CA prepares documents up to signature but cannot bind the government. c. FAR 1.602-1 - "(a) Contracting officers have authority to enter into, administer, or terminate contracts and make related determinations and findings. Contracting officers may bind the Government only to the extent of the authority delegated to them. Contracting officers shall receive from the appointing authority (see 1.603-1) clear instructions in writing regarding the limits of their authority. Information on the limits of the contracting officers' authority shall be readily available to the public and agency personnel." What is the relationship between the prime and subcontractor? - answerThe prime is responsible to see that the subcontractor performs IAW with the terms and conditions of the contract. Our relationship is with the prime (privity of contract). What are the basic sections of a contract under the Uniform Contract Format (UCF)? - answerPart I is the "Schedule" including the following sections: A - Contract Form B - Supplies/Services with Prices/Cost/Quantities/Delivery C - Specifications/SOW/SOO/ORD D - Packaging & Marking E - Inspection & Acceptance F - Delivery or Performance G - Contract Administration Data including Line of Accounting H - Special Contract Provisions Part II are the "Contract Clauses" (Section I) Part III is the "List of Attachments (Section J) Part IV are the "Representations & Certifications" K - Reps and Certs (These are now on-line in ORCA) L - Instructions to Offerors (if applicable) M - Evaluation Factors for Award (if applicable) What are the characteristics of a contract line item (CLIN)? - answerCharacteristics of CLIN are: Separately Identifiable, One fund citation, Separate Delivery Schedule, Single Unit Price. Explain what an Informational Subline Item is, and explain what a Separately Identified Subline Item is. - answera. An informational subline item is used to provide information about the CLIN, like parts of a kit, but it shouldn't have a delivery information tied to it for shipment or pricing information tied to it to for payment purposes. Use Info CLINs to identify each accounting classification citation (ACRN) that is assigned to a single line item. Uses numeric suffix. b. A separately identifiable subline item (subclin) has the same characteristics of a CLIN so it would be used in situations with similar characteristics. Use Sub CLINs to establish ACRNs for severable quantities associated with a single accounting classification. It can be scheduled or priced separately. Uses alpha suffix. What are the duties of an ACO? - answerThe duties of an ACO includes being responsible for the administration (including closeout) of various types of contracts. ACO's organize team members' work to ensure overall mission success - supporting the warfighter. Perform administration functions such as determining eligibility and verifying evidence for contract financing such as progress payments, PBP, reviewing and making recommendations on pricing reports, reviewing and negotiating orders, monitoring contractor performance and compliance with contract (and regulations). ACO's also monitor performance and take corrective actions as necessary when problems arise regarding schedules, GFP, quality assurance, or other issues. Assure contractor compliance with CAS via reviews of disclosure statements and negotiate cost impacts of accounting system changes. Determine allowability and allocability of costs. What is the objective of proposal analysis? - answerTo ensure the final agreed upon price is fair and reasonable. What is the difference between cost, and price analysis? - answerPrice analysis is the process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profit. FAR 15.404-1(b)(2) Cost analysis is the review and evaluation of any of the separate cost elements and profit or fee to determine a fair and reasonable price or to determine cost realism. It is also the application of judgment to determine how well the proposed costs represent what the cost of the contract should be assuming reasonable economy and efficiency. FAR 15.404-1(c) You are assigned negotiation of an unpriced order consisting of urgently needed spare parts. After receipt of the contractor's proposal it is evident you will need more funding. You immediately call the PCO who is out of the office for two weeks. The Contracting Officer's Technical Representative tells you they talked with funding personnel, that there is plenty of funding, to proceed and negotiate with the contractor and that the PCO will provide additional funds when they return. How would you handle this? - answerTo avoid anti-deficiency act violation ensure you get something in writing showing availability of funds. Ask the COTR for a POC in the finance office and advise that you are unable to proceed without written confirmation of funding availability. What is the difference between a PNOM & PNM? - answerThe Pre-Negotiation Objective (PNO) establishes the Government's initial negotiation parameters before conducting the negotiation and document the Assigned Individual's determination of a fair and reasonable price. The Assigned Individual shall document the pre-negotiation objectives in a PNOM and must consider the results of the cost and pricing analysis report or other reports provided. The Price Negotiation Memorandum (PNM) is documentation of the results of the negotiation. The Assigned Individual shall clearly state in the PNM how the negotiated price was determined fair and reasonable. If the total negotiated price exceeds the total pre-negotiation objective, the PNM shall include sufficient rationale for determining the price fair and reasonable. How many days does DCMA have to review a contract and ensure data integrity? - answer30 days What 7 items should the ACO pay special attention to during CRR? - answer1. Financing clauses 2. Payment instructions that conflict w/ regulatory requirements 3. Whether the contract is CAS covered 4. Billing and invoicing terms