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Contracting Principles & Regulations Flashcards

7 cards from real FAC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Contracting Principles & Regulations flashcards as text

  1. Which of the following best describes a Blanket Purchase Agreement (BPA) under FAR Part 13?

    Answer: A simplified method establishing charge accounts with qualified sources for anticipated repetitive needs

    A BPA is a simplified acquisition tool that establishes charge accounts with suppliers for anticipated repetitive needs but is not itself a contract — it becomes binding when individual calls are placed.

  2. A contracting officer receives an unsolicited proposal. Under FAR Part 15, what is the first required action?

    Answer: Acknowledge receipt and perform an initial review for compliance

    FAR 15.606 requires the agency to acknowledge receipt and conduct an initial review to determine if the proposal meets basic requirements before deciding how to proceed.

  3. What is the 'two-step sealed bidding' process used for?

    Answer: First obtaining technical proposals, then conducting price competition among technically acceptable offerors

    Two-step sealed bidding first solicits unpriced technical proposals to identify qualified offerors, then invites only those offerors to submit sealed bids on price.

  4. Under FAR 52.203-13, which contractors are required to have a Code of Business Ethics and Conduct?

    Answer: Contractors with contracts exceeding $5.5 million with a performance period of 120 days or more

    FAR 52.203-13 requires contractors with contracts exceeding $5.5 million and a performance period of 120 days or more to have a written code of business ethics and conduct.

  5. What is the key distinction between an 'option' and a 'basic contract ordering' in an IDIQ contract?

    Answer: Options extend time or quantity; IDIQ orders call for specific deliveries under the established contract

    Options allow the government to unilaterally extend the contract period or acquire additional quantities; IDIQ task/delivery orders are placed against the established contract ceiling.

  6. Which agency is responsible for publishing the Federal Acquisition Regulation (FAR)?

    Answer: The FAR Council, consisting of DoD, NASA, and GSA

    The FAR is issued and maintained jointly by the FAR Council, comprised of the Department of Defense, NASA, and the General Services Administration.

  7. Under FAR Part 19, what is the primary goal of the small business set-aside program?

    Answer: To reserve certain acquisitions exclusively for small business competition to meet statutory participation goals

    FAR Part 19 set-asides reserve specific acquisitions for small businesses to help agencies meet statutory goals for small business participation in federal contracting.