ACQ 101 Module 08 & Exam: Contract Management (2022/2023) Already Passed

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ACQ 101 Module 08 & Exam: Contract Management (2022/2023) Already Passed Which of the following requirements must an offer meet? (Select all that apply) ✔✔*Be clear and unambiguous* *Have comp... lete 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* *Satisfactory performance record* Who is the only person who can sign a contract for the Government? ✔✔*CO* Which section UCF Table does the SSEB use to evaluate each proposal against the evaluation criteria? ✔✔*Section M* What are the key activities of the award phase? (Select all that apply) ✔✔*Pre-Award Notification to Unsuccessful Offerors* *Award Announcements* *Awarding a Contract* Which entity decides which offer(s) to accept for the contract award? ✔✔*Source Selection Authority (SSA)* Which DoD agencies perform critical contract administration functions in system contracting? (Select all that apply) ✔✔*DCAA* *DCMA* What is the purpose of contract administration? (Select all that apply) ✔✔*Protects the Government's interests* *Avoids or eliminates overlapping and duplication of Government contract administration effort* *Provides consistent treatment of contractors in the administration of Government contracts* What is a basic concept of privity? ✔✔*No contractual relationship exists between the Government and the subcontractor* Which of the following terms must an offer include? ✔✔*Price, quantity, quality, and delivery requirements* Which of the following are methods of contracting? ✔✔*Sealed Bid* Which of the following best describes the purpose of contract administration? ✔✔*Avoiding or eliminating overlap and duplication of Government contract administration effort* The type of contracting officer who handles the procurement from the pre-solicitation phase through contract award is? ✔✔*Procuring Contracting Officer (PCO)* The Federal Acquisition Regulation, 42.302(a), lists functions normally performed by this type of contracting officer? ✔✔*Administrative Contracting Officer (ACO)* Which of the following would typically be found in a requirements package? ✔✔Statement of Work Which of the following is a true statement regarding a contract? ✔✔*Principal purpose is the acquisition of property or services* What is the first key step in the planning phase? ✔✔*Identifying and justifying a mission need that requires a materiel solution* The Termination Contracting Officer (TCO) is responsible for: ✔✔- Performing all administrative functions - Signing the contract - *Negotiating any settlement with the contractor* - Awarding Certificates of Appointment What is the first step in solicitation and award? ✔✔- Meet with potential offerors to refine your statement of work - Determine a list of offerors who should receive the Request for Proposal (RFP) - Contact firms to determine their level of interest in the upcoming Request for Proposal (RFP) - *Notify industry that a contract need exists and identify parameters of that need* Which of the following would typically be found in a requirements package? ✔✔- *Statement of Work (SOW)* - Acquisitions Strategy - Work Breakdown Structure (WBS) - Life Cycle Sustainment Plan Which of the following is part of the Federal Acquisition Regulations System? ✔✔- *Agency Supplements and acquisition regulations* - Competition in Contracting Regulation - DoDD 5000.01 - DoDI 5000.02 Which of the following is a true statement about a contract between the Government and a contractor? ✔✔- Establishes terms and conditions that cannot be modified - *Principal purpose is the acquisition of property, supplies, or services* - Does not require consideration when written for Government acquisition Which is one purpose of contract administration? ✔✔- Protecting the contractor interests - *Avoiding or eliminating overlap and duplication of Government contract administration effort* - Preparing and distributing the Contract Data Requirements List (CDRL) - Ensuring the right contractor is selected. 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