CON 3900 Questions & Answers!!

What type of contract shall not be used in Government contracting? - ANSWERSCost-plus-a-percentage-of-cost Contract What types of contracts can be awarded when acquiring commercial items of supply? - ANSWERSFirm-fixed-price contracts or fixed-price contracts with economic price adjustment Which form is used by DoD to apply a structured profit/fee? - ANSWERSDD Form 1547, Weighted Guidelines Method What is a Procurement Instrument Identifier (PIID)? - ANSWERSA unique number identifying each solicitation, contract, agreement, or order and related procurement instrument When using invitations for bids (IFBs), what type(s) of contracts can be awarded? - ANSWERSFirm-fixed-price contracts or fixed-price contracts with economic price adjustment Time-and-materials (T&M) contract can be used: - ANSWERSOnly when it is not possible at the time of placing the contract to estimate accurately the extent or duration of the work or to anticipate costs Communications, discussions, and clarifications are: - ANSWERSTerms that address specific types of exchanges with offerors after receipt of proposals What are life-cycle costs? - ANSWERSThe total cost to the Government of acquiring, operating, supporting, and (if applicable) disposing of the items being acquired What is an exception to obtaining certified cost or pricing data? - ANSWERSAdequate price competition The two broad categories of government contract types are: - ANSWERSFixed-price contracts and cost-reimbursement contracts