Exam (elaborations)
ACQ 101 Module 08 & Exam: Contract Management/40 q/a
ACQ 101 Module 08 & Exam: Contract Management/40 q/a
[Show more]
Content preview
ACQ 101 Module 08 & Exam:Contract Management/40 q/a
Which of the following requirements must an offer meet? (Select all that
apply) - -*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": - -*Consideration*
-A mutual assent is when a contract is formed by acceptance of an offer. - -
*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? - -*Competency*
-Select each statement that is accurate when binding a contract.(Select all
that apply) - -*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) - -*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) - -*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) - -*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? -
-*CO*
, -Which of the following are examples of a non-materiel solutions? (Select all
that apply.) - -*Change in rulemaking*
*Alternative use of existing assets*
-Which of the following statements are correct? (Select all that apply) - -
*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? - -*A sealed bidding award is based on price
and price-related factors*
-What is the first step in the sealed bidding process? - -*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? - -*Requirements*
-Which of the following are critical sections of a solicitation? (Select all that
apply) - -*Section B, Supplies or services and prices/costs*
*Section M, Evaluation factors for award*
-What standard format is used to prepare Solicitations? - -*UCF*
-Which of the following are key players with major roles in the Source
Selection process? (Select all that apply) - -*Co*
*SSEB*
-What are the key activities of the evaluation phase? (Select all that apply) -
-*Establish the Source Selection Process*
*Determine Source Selection Participants*
*Determine if Price is Fair and Reasonable*
*Complete the Source Selection Process*
-A responsible offeror has or can obtain sufficient financial resources to
satisfy which of the following contract requirements? (Select all that apply) -
-*Organization, experience, and talent*
*Necessary equipment and facilities*
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 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 Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.52. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76658 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now