100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
CPCM 17 Test Questions and Answers All Correct CA$18.87   Add to cart
Quickly navigate to
Preview
  2.  
  3. CPCM 17
  4.  
  5. CPCM 17

Exam (elaborations)

CPCM 17 Test Questions and Answers All Correct
 10 views  0 purchase
  • Course
  • CPCM 17
  • Institution
  • CPCM 17

CPCM 17 Test Questions and Answers All Correct The Service Contract Act - Answer-This legislation requires contractors and subcontractors performing services on covered federal or District of Columbia contracts over a certain dollar threshold to pay service employees in various classes no less tha...

[Show more]

Preview 2 out of 7  pages

Document information

  • August 3, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • cpcm 17
  • the service contract act
  • cpcm 17 test questions and answers all correct

Written for

  • CPCM 17
  • CPCM 17

Seller

avatar-seller
Scholarsstudyguide

Reviews received

Content preview

CPCM 17 Test Questions
and Answers All Correct
The Service Contract Act - Answer-This legislation requires contractors and
subcontractors performing services on covered federal or District of Columbia contracts
over a certain dollar threshold to pay service employees in various classes no less than
the monetary wage rates and to furnish fringe benefits found prevailing in the locality or
in a collective bargaining agreement:

service Contract Act and Davis-Bacon Act - Answer-A determination by the Department
of Labor that a certain scale of wages is the prevailing wage for a locality is called a
"wage determination" and is issued under the:

Performance work statement - Answer-What is the portion of a contract describing the
actual work to be done in terms of desired performance results, often including specific
measurable objectives?

Performance statement of work - Answer-A document that defines requirements in
terms that relate to the minimum acceptable standard or ranges of performance is
called a:

Ad valorem - Answer-This term describes a customs duty usually charged on the value
only of goods that are dutiable, irrespective of quality, weight, or any other
considerations:

Offset agreement - Answer-One of the various industrial and commercial compensation
practices required of defense contractors by foreign governments as a condition for the
purchase of defense articles/services in either government-to- government or direct
commercial sales is called:

Which of the following must a contracting professional consider when negotiating an
international contract? - Answer-Import issues, export issues, and currency differences.

Countertrade is: - Answer-A requirement imposed by a country on a foreign exporter to
purchase materials in the receiving country

Export-Import Bank - Answer-This is an independent U.S. government agency that
provides loans, loan guarantees, and credit risk insurance coverage to U.S. exporters
and foreign importers.

, When there are equal low bids the contracting officer should award the contract to the
bidder that - Answer-is a small business in a labor surplus area.

Which of the following is NOT an example of a competitive acquisition method -
Answer-Commercial item acquisition

Negotiation is a method of contracting that - Answer-may be done competitively or
noncompetitively.

Cost reimbursement contracts typically do NOT include - Answer-cost redetermination
contracts.

This type of contract provides for the partial reimbursement of the contractor's allowable
costs with no allowances for profit or fees. - Answer-cost-sharing contracts

This type of contract is sometimes used when it is difficult to include other incentives
because contractor performance cannot be measured objectively. It establishes a fixed
price, including normal profit that will be paid for satisfactory contract performance. It
also establishes an additional fee the contractor can earn for higher performance. -
Answer-fixed price with award fee

Direct labor is - Answer-all work that is obviously related and specifically and
conveniently traceable to specific products.

This type of accounting recognizes important concepts—such as receivables due from
customers, payables due to vendors, interest due from investments, and other matching
concepts—as a means of providing an accurate picture of a company's financial
position. - Answer-accrual accounting

The need for acquisition planning occurs - Answer-once a need or requirement has
been identified.

Concerning acquisition planning, which of the following statements is true - Answer-It
should be viewed as a team effort, including the talents and input from contracting
personnel, customers, finance experts, technical experts, and legal counsel.

Which of the following tools and techniques are NOT used in procurement planning? -
Answer-negotiation

The company submitting the lowest ___________ and ___________ bid wins the
contract award. - Answer-responsive; responsible

What is the term describing a market structure where a single buyer purchases a good
or service? - Answer-monopsony

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Scholarsstudyguide. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$18.87. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77254 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$18.87
  • (0)
  Add to cart