FAC Policy Analysis & Evaluation 2

Question 1

Which framework is most commonly used by federal agencies to conduct a cost-benefit analysis (CBA) when evaluating acquisition policy alternatives?

Accepted Answer

OMB Circular A-94 guidelines

Answer

OMB Circular A-94 provides the standard guidelines for benefit-cost analysis of federal programs and regulatory proposals.

Question 2

A program manager wants to assess whether a new procurement policy reduced contract award cycle times. Which evaluation method best measures this outcome?

Accepted Answer

Pre/post comparison using historical contracting data

Answer

A pre/post comparison using historical data directly measures changes in cycle time attributable to the policy change.

Question 3

Under the Program Management Improvement Accountability Act (PMIAA), what is required of major federal agencies regarding program management policy?

Accepted Answer

Designate a Program Management Improvement Officer (PMIO)

Answer

PMIAA requires covered agencies to designate a Program Management Improvement Officer to oversee policy implementation and improvement.

Question 4

When evaluating the effectiveness of a sole-source policy waiver, which metric would BEST indicate whether competition was appropriately limited?

Accepted Answer

Comparison of awarded price to independent government cost estimates

Answer

Comparing the awarded price to the independent government cost estimate reveals whether the lack of competition resulted in an unreasonable price.

Question 5

A contracting officer conducts a policy gap analysis and finds that existing regulations do not address cloud service acquisitions. What is the appropriate next step?

Accepted Answer

Proceed under the closest analogous FAR provision and document the rationale

Answer

When a regulatory gap exists, contracting officers should apply the most analogous provision and document their rationale while advocating for updated guidance.

(FAC) Federal Acquisition Certification Practice Test

(FAC) Federal Acquisition Certification Practice Test

FAC Policy Analysis & Evaluation 2