COR Government-Furnished Property & Equipment

Question 1

Which FAR Part primarily governs the management of Government property provided to contractors?

Accepted Answer

FAR Part 45

Answer

FAR Part 31

Answer

FAR Part 42

Answer

FAR Part 52

Question 2

What is Government-Furnished Property (GFP) as defined in the FAR?

Accepted Answer

Property in the possession of, or acquired by, the Government and subsequently furnished to a contractor for performance of a contract

Answer

Property purchased by the contractor using Government funds

Answer

All equipment located at a Government installation

Answer

Property that the contractor acquires with the intent to transfer ownership to the Government

Question 3

Which clause is typically incorporated into contracts to address Government property requirements?

Accepted Answer

FAR 52.245-1

Answer

FAR 52.232-25

Answer

FAR 52.215-10

Answer

FAR 52.243-1

Question 4

What is the COR's primary responsibility regarding Government-Furnished Property?

Accepted Answer

Monitoring the contractor's use, care, and accountability of GFP throughout contract performance

Answer

Signing property transfer documents on behalf of the PCO

Answer

Approving the contractor's property management system

Answer

Determining the replacement cost of lost or damaged GFP

Question 5

Under FAR Part 45, who bears the risk of loss for Government property in the contractor's possession when the contractor has an approved property management system?

Accepted Answer

The Government assumes the risk of loss unless the contractor is found negligent or has committed willful misconduct

Answer

The contractor bears full risk in all cases

Answer

Risk is split equally between the Government and contractor

Answer

The surety company bears the risk through the performance bond

Question 6

What document must a contractor submit to the Government when property is lost, damaged, destroyed, or stolen?

Accepted Answer

A report of loss, damage, or destruction to the contracting officer

Answer

DD Form 250 (Material Inspection and Receiving Report)

Answer

SF-30 (Amendment of Solicitation/Modification of Contract)

Answer

DD Form 1155 (Order for Supplies or Services)

Question 7

What is the purpose of a plant clearance proceeding at contract completion?

Accepted Answer

To determine the proper disposition of Government property remaining with a contractor after contract performance ends

Answer

To conduct a final security inspection of contractor facilities

Answer

To clear all contractor personnel from Government installations

Answer

To audit the contractor's final invoice