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

The Simplified Acquisition Threshold is $250,000, below which agencies may use simplified acquisition procedures.

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

A Cure Notice gives the contractor a specified period (usually 10 days) to cure a contract deficiency before the government may terminate for default.

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

Privity of contract means the legal relationship exists only between the two contracting parties — the government has no direct legal relationship with subcontractors.

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

CPARS (Contractor Performance Assessment Reporting System) records past performance evaluations that are used to assess contractors in future source selections.

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

IDIQ contracts require the government to order at least the guaranteed minimum quantity, which gives the contractor certainty of some business.

GCP Test Practice Test

GCP Test Practice Test

GCP GCP Contract Administration & Procurement 2