FAC Contracting Principles & Regulations 3

Question 1

A contracting officer awards a contract without obtaining the required written justification for other-than-full-and-open competition. What is the most likely consequence?

Accepted Answer

GAO may sustain a bid protest and recommend corrective action

Answer

GAO can sustain a bid protest challenging the lack of proper J&A documentation and recommend corrective action such as re-competition or termination.

Question 2

Which FAR clause requires contractors to maintain an adequate accounting system as a condition for receiving cost-reimbursement contracts?

Accepted Answer

FAR 52.215-2

Answer

FAR 52.215-2 (Audit and Records — Negotiation) requires contractors to maintain adequate accounting records accessible to government auditors for cost-reimbursement work.

Question 3

Under FAR Part 9, a contractor is debarred. What is the standard debarment period?

Accepted Answer

Up to 3 years

Answer

FAR 9.406-4 limits debarment to a period generally not exceeding three years, though longer periods may apply in certain fraud cases.

Question 4

Which contract type places the MOST financial risk on the government?

Accepted Answer

Cost-Plus-Award-Fee (CPAF)

Answer

Cost-Plus-Award-Fee contracts place the most risk on the government because the government pays all allowable costs plus an award fee that can vary based on subjective performance evaluations.

Question 5

An agency issues a Request for Proposals (RFP). Under FAR Part 15, which document formally communicates the government's needs and evaluation criteria?

Accepted Answer

The Solicitation

Answer

The solicitation (RFP) is the formal document that communicates requirements, terms, conditions, and evaluation criteria to prospective offerors.

(FAC) Federal Acquisition Certification Practice Test

(FAC) Federal Acquisition Certification Practice Test

FAC Contracting Principles & Regulations 3