GCP GCP Contract Administration & Procurement 2

Question 1

What is the Simplified Acquisition Threshold (SAT) as established under the FAR?

Accepted Answer

$250,000

Answer

$10,000

Answer

$25,000

Answer

$500,000

Question 2

In contract administration, what is a Cure Notice used for?

Accepted Answer

To notify a contractor of a deficiency and provide time to correct it before termination

Answer

To officially close out a completed contract

Answer

To approve a contract extension

Answer

To document contractor past performance

Question 3

Which of the following best describes 'privity of contract'?

Accepted Answer

The direct legal relationship between the government and the prime contractor only

Answer

Confidentiality requirements on contract data

Answer

Subcontractor rights under a prime contract

Answer

The classification level of contract documents

Question 4

What is the purpose of a Past Performance Information Retrieval System (PPIRS) or its successor CPARS?

Accepted Answer

Recording and retrieving contractor performance evaluations for use in source selection

Answer

Tracking contractor invoice submissions

Answer

Managing government property assigned to contractors

Answer

Documenting contractor labor categories

Question 5

An Indefinite Delivery Indefinite Quantity (IDIQ) contract requires the government to order at least:

Accepted Answer

The guaranteed minimum quantity stated in the contract

Answer

The maximum quantity stated in the contract

Answer

No minimum — all orders are optional

Answer

50% of the contract ceiling value

Question 6

Which of the following is a key responsibility of a Contracting Officer's Representative (COR)?

Accepted Answer

Monitoring contractor technical performance and reporting to the contracting officer

Answer

Signing contract modifications

Answer

Obligating government funds

Answer

Approving contractor invoices without CO review