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CORB Study Set 1 – 40 Question and answers 100% correct
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CORB Study Set 1 – 40 Question and answers 100% correct Address the importance of acquisition planning. What are some things that you, as a KO, can do to assist the customer in acquisition planning? Additionally, discuss when formal acquisition planning is required. - correct answers To ensure...

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  • March 6, 2025
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  • 2024/2025
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  • Questions & answers

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CORB Study Set 1 – 40 Question and
answers 100% correct
Address the importance of acquisition planning. What are some things that
you, as a KO, can do to assist the customer in acquisition planning?
Additionally, discuss when formal acquisition planning is required. - correct
answers To ensure that the Government meets its needs in the most effective,
economical, and timely manner. An acquisition plan is required at the
following thresholds: $50M or more for production or services for all years, or
$25M or more for any fiscal year; $10M or more for development.


How do you determine what clauses to include in a solicitation / contract? -
correct answers The start is the matrix at FAR 52. This shows which clauses
to incorporate based off dollar value, contract type, and specific situations.
Each clause has a prescription which describes when it is incorporated. There
are also DFARS, and agency clauses, provisions that are sometimes
applicable.


Name as many techniques as you can to promote early exchange of
information with industry? - correct answers RFIs; Sources Sought;
Pre-sol/pre-proposal Conferences; Industry conferences; public hearings;
Market Research; One-On-One Meetings with Potential Offerors; Pre-sol
Notices; Draft RFPs. (FAR 15.201(c))


A legally binding contract must contain what elements? - correct answers An
offer and an acceptance. Must involve two or more parties that have the
capacity to contract. Must show agreement, including offer, acceptance, and
mutual assent. Must show something of value changing hands between the
parties to a contract, or other inducement that leads a person to make a
promise. Must be for a legal purpose. Must be in the correct form.


What is a Blanket Purchase Agreement? - correct answers ▪ Not a formal
contract

, ▪ Simplified method of filling anticipated repetitive needs for supplies/services
against pre-negotiated price list
▪ Can only be used if no existing requirements contract exists for same
supply/service
▪ Avoids writing numerous purchase orders
▪ Establish parameters to limit purchases to individual items or commodity
groups or classes, or permit the supplier to furnish unlimited supplies or
services
▪ Does not exempt agency/individual from keeping obligations and
expenditures within available funds (Money is only obligated upon issuance of
"call" rather than when BPA is established


What FAR Part covers claims? - correct answers FAR Part 33 Protests,
Disputes, and Appeals


After the accrual of a claim, how long does a contractor have to file their
claim? - correct answers Under the Contract Disputes Act ("CDA"), a
contractor must file a claim within 6 years of accrual of the claim.


Does the Govt incur interests on claims? Explain (CLASS III) - correct
answers The Government shall pay interest on a contractor's claim on the
amount found due and unpaid from the date that the KO receives the claim,
payment, otherwise would be due, if that date is later, until the date of
payment.


When closeout occurs? Why is contract closeout so important? What actions
need to be taken in closeout? - correct answers Closeouts is required per
FAR 4.804, it is necessary to ensure all actions under contract are complete,
final payment is processed, and left-over funds are deobligated. Closeout
actions are; Required deliveries completed/all services performed and
accepted by Gov't (COR), All option provisions if any expired, Completion
settlement and final invoice submitted, Release of Claims signed, DD 1594
Contract Completion Statement and DD 1597.

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