Exam (elaborations)
CON 3990 PREP EXAM QUESTIONS AND ANSWERS 2024
- Course
- Institution
CON 3990 PREP EXAM QUESTIONS AND ANSWERS 2024
[Show more]
Content preview
CON 3990 PREP EXAMWhen a contracting professional determines that a price is reasonable, what does
that mean? - ANSWERS-They made a decision based on what a prudent and
competent buyer would be willing to pay
Price analysis is used: - ANSWERS--when certified cost or pricing data are not
required
-to verify that the overall price offered is fair and reasonable
Cost analysis is used: - ANSWERS-Gain insight into individual cost elements that
make up a product
According to FAR 2.101, cost or pricing data... - ANSWERS-Is factual
A prices based on adequate price competition wHen... - ANSWERS--in receipt of
offers from two or more responsible offerors
-In receipt of offers from two or more offerors competing independently
When a contractor submit a certificate of current cost of Bryson data, they are
certifying at the data is? - ANSWERS-Current, accurate and complete
Which of the following are exceptions to obtaining certified cost or pricing data?
,-Adequate price competition
-Commercial items
-Prices set by law
-Modifying a non-commercial contract - ANSWERS--Adequate price competition
-Commercial items
-Prices set by law
When certified cost or pricing data are not required, why would you obtain data
other than certified cost or pricing data? - ANSWERS-As necessary to establish a
fair and reasonable price
Before burdening contractors with providing data, where shall the CO first obtain
data to determine fair and reasonable price? - ANSWERS-The Government or
other secondary sources
When a CO request data other than certified cost or pricing data, whose format
for submitting the data should be used? - ANSWERS-The contractors
A contractor assumes the greatest cost risk in a which type of contract? -
ANSWERS-Firm fixed price contracts
A contractor assumes the least cost risk in which type of contract? - ANSWERS-
Cost plus fixed fee contracts
,Unbalanced pricing occurs when the overall price appears reasonable but
___________ indicates the price of one or more contract line items is significantly
over or understated - ANSWERS-cost or price analysis
Discussions take place after establishment of competitive range. True or false -
ANSWERS-True
True or false. The contracting officer may limit the number of proposals in the
competitive range to the greatest number that will permit and efficient
competition among the most highly rated proposals. - ANSWERS-True
Communications may be conducted to enhance government understanding of
proposals; allow reasonable interpretation of the proposal; or facilitate the
governments evaluation process. True or false - ANSWERS-True
Clarifications allow an offer the opportunity to clarify certain aspects of their
proposal. True or false - ANSWERS-True
True or false. The pre-negotiation objective assists in the CO determination of a
fair and reasonable price - ANSWERS-True
True or False. A PNM shall only include the purpose of the negotiation -
ANSWERS-False
, True or False. The CO shall establish pre-negotiation objectives before the
negotiation of any pricing action - ANSWERS-True
Request for Proposals are used to? - ANSWERS-Solicit proposals
In the UCF, information on inspection is found in? - ANSWERS-Section E
In the UCF, information regarding a company's size status is found in? - ANSWERS-
Section K
Who is responsible for making the best value decision? - ANSWERS-SSA-Source
selection authority
Who serves as the primary business advisor for a source selection? - ANSWERS-
PCO
Which two evaluation factors shall be evaluated in every source selection? -
ANSWERS-Price or cost quality
A protest is an __________________ by an _______________ - ANSWERS-
Written objection by an interested party
An interested party is an _________ or ____________ offerors - ANSWERS-Actual
or prospective offeror
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Teacher101. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now