CON 3900 Quizzes : Questions & Answers: Updated A+ Guide Solution

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What type of contract shall not be used in Government contracting? (Ans- Cost-plus-a-percentage-of-cost Contract What types of contracts can be awarded when acquiring commercial items of supply? ... (Ans- Firm-fixed-price contracts or fixed-price contracts with economic price adjustment Which form is used by DoD to apply a structured profit/fee? (Ans- DD Form 1547, Weighted Guidelines Method What is a Procurement Instrument Identifier (PIID)? (Ans- A 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? (Ans- Firm-fixed-price contracts or fixed-price contracts with economic price adjustment Time-and-materials (T&M) contract can be used: (Ans- Only 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 clarific [Show More]

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