COR Government-Furnished Property & Equipment 2

Question 1

Which of the following is NOT a type of Government property as defined in FAR Part 45?

Accepted Answer

Contractor's commercial tooling used exclusively on a Government contract

Answer

Contractor-owned commercial tooling used on a Government contract remains contractor property and is not classified as Government property under FAR Part 45.

Question 2

A contractor's property management system must include all of the following elements EXCEPT:

Accepted Answer

Contractor's profit and loss statements for GFP usage

Answer

A contractor's property management system addresses acquisition, records, physical inventory, and other stewardship controls, but does not include financial profit/loss statements for GFP.

Question 3

How often must contractors typically conduct a physical inventory of Government property?

Accepted Answer

Annually or as required by contract terms

Answer

FAR 52.245-1 requires contractors to conduct physical inventories of Government property at least annually or as otherwise specified in the contract.

Question 4

When the COR observes a contractor using Government-Furnished Equipment for work NOT covered under the contract, what should the COR do?

Accepted Answer

Document the observation and report it to the contracting officer for appropriate action

Answer

The COR should document the unauthorized use and report it to the contracting officer, who has the authority to take corrective action.

Question 5

Government-Furnished Material (GFM) differs from Government-Furnished Equipment (GFE) primarily in that GFM is:

Accepted Answer

Material intended to be incorporated into or consumed during contract performance, not reused after contract end

Answer

GFM is material consumed or incorporated into the end product during performance, while GFE is equipment expected to be returned or transferred after contract completion.

(COR) Contracting Officer's Representative Certification Practice Test

(COR) Contracting Officer's Representative Certification Practice Test

COR Government-Furnished Property & Equipment 2