Sealed bidding - Study guides, Class notes & Summaries

CON 170 Fundamentals of Cost and Price Analysis MIDTERM EXAM_2023. 1. Which of the following statements most closely summarizes government pricing objectives? b. Acquire goods and services from responsible sources at fair and reasonable prices. 2. As a contract specialist, you should be aware that: a) Different sellers in the same market may have different pricing objectives and approaches. b) Sellers in different markets often have different approaches to contract pricing. c) A single fir...

What is a Contracting Officer Representative? - ACCURATE ANSWERA technical representative that is appointed by the contracting officer through a designation letter The procuring Contracting Officer, Administrative Contracting Officer, Termination Contracting Officer, and the Contracting Officer's Representative are key players in the acquisition process. From the following statements, choose the correct answer: - ACCURATE ANSWERThe contracting officer appoints the contracting officer's repr...

What is a Contracting Officer Representative? : A technical representative that is appointed by the contracting officer through a designation letter The procuring Contracting Officer, Administrative Contracting Officer, Termination Contracting Officer, and the Contracting Officer's Representative are key players in the acquisition process. From the following statements, choose the correct answer: : The contracting officer appoints the contracting officer's representative in writing I...

The major categories of acquisition: correct answers1. Supplies and equipment 2. Services 3. Construction 4. Research and Development What is the source of the Government's contracting powers? correct answersConstitution The three major phases of contracting: correct answers1. Contract Planning (Working w/customer) 2. Contract Formation (Execution) 3. Contract Administration (Assessment) What is conducted during Contract Planning? correct answers1. Market research 2. Planning for...

NIGP CPPO Certification Exam Questions & Answers 2024/2025 Surety - ANSWERSa pledge or guarantee by an insurance company, bank, individual or corporation on behalf of a bidder or offeror which protects against default or failure of the principal to satisfy the contractual obligations. accountability - ANSWERSThe principle that employees who accept an assignment and the authority to carry it out are answerable to a superior or a higher authority for the outcome. acceptance - ANSWERS1. ...

Which one of the following contract types is considered an incentive type contract? 1. Cost Contract 2. Firm Fixed Price 3. Time and Material Contracr 4. Cost Plus Award Fee Contract - ANSWER Cost Plus Award Fee Contract (FAR 16.401(e)) Which one of the following is a characteristic of cost reimbursable type contracts? 1. Requires Maximum Gov Surveillance 2. The contractor shall deliver or risk default 3. Profit is not limited 4. The risk to the contractor is high - ANSWER 1. Require...

Used to award negotiated contracts in which signatures of both parties on a single document is appropriate. - ANSWERSF 26 Used to amend any solicitation or modify any contract. - ANSWERSF 30 May be used to award either negotiated contracts or contracts utilizing sealed bidding. - ANSWERSF 33 Used for simplified acquisitions at or below the micro-purchase threshold, except for purchases under unusual and compelling urgency or in support of contingency operations. - ANSWERSF 44 Prescribed for ...

A cost is reasonable if, in its nature and amount, it does not exceed - correct answer that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated - correct answer after the incurrence of the costs involved. Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if it meets all but which of the following? - correct answer The contract specifies payments aggregating $10...

What is a Contracting Officer Representative? : A technical representative that is appointed by the contracting officer through a designation letter The procuring Contracting Officer, Administrative Contracting Officer, Termination Contracting Officer, and the Contracting Officer's Representative are key players in the acquisition process. From the following statements, choose the correct answer: : The contracting officer appoints the contracting officer's representative in writing I...

WARRANT BOARD EXAM 6|COMPLETE QUESTIONS WITH A+ GRADED ANSWERS As a Warranted Contracting Officer, what is your primary responsibility? Contracting officers are responsible for ensuring performance of all necessary actions for effective contracting, ensuring compliance with the terms of the contract, and safeguarding the interests of the United States in its contractual relationships. Why is market research important in the acquisition process? Market research is used to help identify so...