Federal Acquisition Regulations & Policies Flashcards
7 cards from real FCC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Federal Acquisition Regulations & Policies flashcards as text
A contracting officer determines that a contractor's proposed price is unreasonably high. Under FAR 15.405, what is the CO's next step?
Answer: Document the finding and negotiate to reach a fair and reasonable price
FAR 15.405 directs the CO to document the basis for the price-unreasonableness determination and negotiate a fair and reasonable price before awarding the contract.
Which type of contract places the most cost risk on the contractor?
Answer: Firm-Fixed-Price (FFP)
A Firm-Fixed-Price contract requires the contractor to perform at the agreed price regardless of actual costs, placing maximum risk on the contractor.
Under FAR Part 9, a contractor that has been debarred is excluded from receiving federal contracts for a period not to exceed:
Answer: 3 years
FAR 9.406-4 states that a period of debarment generally should not exceed three years, though longer periods are permitted in certain circumstances.
What FAR subpart requires contracting officers to conduct market research before developing requirements or acquiring supplies and services?
Answer: FAR Subpart 10.001
FAR Subpart 10.001 establishes the policy that agencies must conduct market research appropriate to the circumstances before developing new requirements or acquiring supplies and services.
Which of the following is a correct description of an Indefinite-Delivery, Indefinite-Quantity (IDIQ) contract?
Answer: It provides for an indefinite quantity of supplies or services within a stated range of minimum and maximum quantities during a fixed period
FAR 16.504 defines an IDIQ contract as one that provides for an indefinite quantity within stated limits during a fixed period, with orders placed for individual requirements.
Under the FAR, which acquisition planning document identifies how the Government will obtain supplies or services, including competition strategy and contract type selection?
Answer: Acquisition Plan (AP)
FAR 7.105 requires acquisition plans to address competition, contract type, sources, cost, and schedule considerations for significant acquisitions.
Under FAR 52.232-25, a contractor is entitled to interest on an overdue payment beginning how many days after the invoice is received?
Answer: 30 days
The Prompt Payment Act and FAR 52.232-25 require agencies to pay interest on amounts due after the 30-day payment due date has passed.