GSA Specialist Federal Acquisition Regulations

Question 1

What is the Federal Acquisition Regulation (FAR)?

Accepted Answer

The main set of rules for government procurement

Answer

A budgetary tracking system

Answer

A government accounting manual

Answer

An internal agency policy

Question 2

Which agency maintains the FAR?

Accepted Answer

GSA, DoD, and NASA

Answer

IRS

Answer

EPA

Answer

HHS

Question 3

What part of the FAR addresses contract administration?

Accepted Answer

Part 42

Answer

Part 15

Answer

Part 4

Answer

Part 33

Question 4

FAR Part 6 covers what procurement topic?

Accepted Answer

Competition requirements

Answer

Simplified acquisition procedures

Answer

Small business programs

Answer

Contract financing

Question 5

What is the purpose of FAR clauses in contracts?

Accepted Answer

To establish contract terms and responsibilities

Answer

To simplify payments

Answer

To define technical manuals

Answer

To describe personnel benefits

Question 6

What tool helps users navigate the FAR system online?

Accepted Answer

Acquisition.gov

Answer

FedBizOps

Answer

SAM.gov

Answer

FBO.gov