FAC Contracting Principles & Regulations 2

Question 1

Which FAR part establishes the policy that acquisition planning must begin as soon as an agency need is identified?

Accepted Answer

FAR Part 7

Answer

FAR Part 7 (Acquisition Planning) requires planning to begin as soon as a need is identified to promote competition and prevent unnecessary sole-source awards.

Question 2

Under the FAR, what is the simplified acquisition threshold (SAT) for most acquisitions as of recent regulations?

Accepted Answer

$250,000

Answer

The simplified acquisition threshold (SAT) is $250,000 for most acquisitions, allowing use of simplified acquisition procedures below this dollar value.

Question 3

A contracting officer discovers a vendor submitted a false certification during source selection. Which statute primarily addresses this fraud?

Accepted Answer

The False Claims Act

Answer

The False Claims Act imposes civil liability on parties who submit fraudulent claims to the government, including false certifications during contracting.

Question 4

What is the primary purpose of the Procurement Integrity Act (PIA)?

Accepted Answer

To restrict disclosure of contractor bid/proposal information and restrict post-employment activities

Answer

The PIA prohibits disclosure of contractor bid or proposal information and source selection information, and restricts certain post-government employment activities.

Question 5

Which of the following actions is NOT a proper basis for issuing a sole-source contract under FAR Part 6?

Accepted Answer

A contractor offers the lowest possible price

Answer

Price alone is never a valid justification for a sole-source award; competition is required unless one of the statutory exceptions in FAR 6.302 applies.

(FAC) Federal Acquisition Certification Practice Test

(FAC) Federal Acquisition Certification Practice Test

FAC Contracting Principles & Regulations 2