FCC Federal Acquisition Regulations & Policies 5

Question 1

Under the FAR, what is the difference between a 'Termination for Convenience' (T4C) and a 'Termination for Default' (T4D)?

Accepted Answer

T4C compensates the contractor for work performed; T4D may hold the contractor liable for reprocurement costs

Answer

In a T4C, the Government compensates the contractor for allowable costs and a reasonable profit; in a T4D, the contractor may be liable for excess reprocurement costs if the default is not excusable.

Question 2

Which statutory authority specifically authorizes the use of Other Transaction Agreements (OTAs) for prototype projects by the Department of Defense?

Accepted Answer

10 U.S.C. § 4022 (formerly 10 U.S.C. § 2371b)

Answer

10 U.S.C. § 4022 authorizes DoD to enter into OTAs for prototype projects, allowing agreements not subject to the standard FAR procurement regulations.

Question 3

Under FAR 15.403-1, which of the following is an adequate price competition circumstance that exempts a contractor from submitting certified cost or pricing data?

Accepted Answer

Two or more responsible offerors compete independently based on price and the award will be made to the low offeror

Answer

FAR 15.403-1(c)(1) establishes that adequate price competition—defined as two or more independent competing offers on price—exempts contractors from submitting certified cost or pricing data.

Question 4

The Service Contract Labor Standards (formerly Service Contract Act) applies to contracts principally for services performed in the United States that exceed what dollar threshold?

Accepted Answer

$2,500

Answer

The Service Contract Labor Standards statute (41 U.S.C. § 6702) applies to service contracts exceeding $2,500, requiring payment of prevailing wages and fringe benefits.

Question 5

When a contracting officer issues a solicitation using FAR Part 12 (Commercial Products and Commercial Services), which simplified approach may be used to evaluate offerors?

Accepted Answer

Streamlined evaluation based on a best-value tradeoff using simplified procedures per FAR 12.602

Answer

FAR 12.602 allows COs to use streamlined evaluation procedures for commercial acquisitions, reducing documentation burdens compared to traditional FAR Part 15 source selection.

(FCC) Federal Contracting Certification Practice Test

(FCC) Federal Contracting Certification Practice Test

FCC Federal Acquisition Regulations & Policies 5