Villanova Univ VIL 50 Assessment – Module 1 and Module 2

Question:The Competition in Contracting Act changed the rules of government acquisition in all of the following ways exceptA Instituted statutory bid protest proceduresB Established a competition advocate in each federal agencyC Expressed a preference for competitive negotiationsD Required publication of procurement opportunities to the general publicQuestion:A contract can be defined asA A set of terms and conditions that defines precisely what each party is obligated to performB A promise or a set of promises, for which the law provides a remedy in case of a breach by either partyC A properly formatted document containing all the required and applicable terms and conditionsD A promise by one party to pay another party if they perform a serviceQuestion:Contracting officers who determine that a particular contract requires additional monitoring to protect the government may require the contractor to do what before awarding any subcontracts?A Obtain consent to subcontractB Prepare a determination and findingsC Obtain a justification and approvalD Prepare a subcontract justificationQuestion:The Procurement Integrity Act accomplishes all of the following exceptA A ban on disclosing or obtaining procurement informationB Created a criminal law that addresses the disclosure of trade secret information of a contractorC A requirement for procurement officers to report employment contacts by or with a competing contractorD A one-year ban for certain personnel on accepting compensation from the contractorQuestion:Which FAR Part prescribes policies and procedures for including inspection, acceptance, and warranty?A FAR Part 46, Quality AssuranceB FAR Part 42, Contract AdministrationC FAR Part 43, Contract ModificationsD FAR Part 4, Administrative MattersQuestion:Statutes are issued in the FAR throughA The federal register rulemaking processB Each agency’s statutory implementation processC The Office of Management and BudgetD Congressional liasions with executive agenciesQuestion:Price analysis requires a comparison to other prices. Which is the best basis of comparison?A Engineering judgment of should-cost valuesB Cost estimating relationshipsC Government estimatesD Competitive prices offered by a number of qualified competitors on the contract being awardedQuestion:Under the Competition in Contracting Act of 1984, which of the following statements is false?A Competition can be limited to large businesses onlyB Competition cannot be limited unless the contracting officer drafts and signs a specific determination and findingsC When contracting officers limit competition to those contractors who carry a special preference, they may not otherwise limit full and open competition among those preference holdersD “All responsible sources” are permitted to submit bids or proposalsQuestion:The objective of negotiating a contract type is to obtain a result that providesA Reasonable contractor risk and incentive for efficient performanceB Reasonable government risk and incentive for effective performanceC Low government risk and effective contractor performanceD Low contractor risk and incentive for efficient performanceQuestion:Which government employee is authorized to execute a contract modification?A Contracting officerB Program managerC Contract specialistD All of the aboveQuestion:Under FASA, which of the following is now required?A Certification of claims over established thresholdsB Reporting of contacts with federal contractors regarding employmentC Disclosure of patents that cover any contract deliverableD Consideration of a contractor’s past performance in source selection decisionsQuestion:The contracting officer typically delegates certain functions toA Contract administration officeB Contracting officer’s representativeC Contractor’s administration managerD Program administration officeQuestion:The two key pieces of legislation in the federal budget process areA Authorization and AppropriationB Identification and ImplementationC Authorization and IdentificationD Implementation and AppropriationQuestion:The FAR Council has representation from all agencies that must follow the FAR. When the FAR Council decides to change the regulations, which of the following is true?A Each agency must then adopt the FAR change before it is effective on that agencyB If the DOD, NASA, and GSA all agree on a change, the other agencies must follow what the Council has decidedC OFPP serves only an advisory role on the FAR CouncilD Changes to the governing regulations have to proceed through the normal regulatory process of allowing notice and public comment on the rule before it is formally adoptedQuestion:The Vice President of Business Management for ABC company shows up for negotiations with the government. After agreement and signing the contract, the CEO of ABC company calls the contracting officer and explains that the VP who signed the contract was not authorized to sign a contract that large and ABC Company will not honor the contract. Which of the following statements is false?A Apparent authority does not apply in government contracts, so ABC is not bound under the contractB Apparent authority applies against contractors and anyone with a title of VP of business management appears to carry the authority to sign a contractC The law of agency says that it is the principal who bears the risk of its agents actionsD If the VP had limited authority, it was the responsibility of the principal to make that fact known to the third party with whom he was dealingScored 100%Cost analysis differs from price analysis in thatA Only price analysis involves a comparisonB Cost analysis evaluates the various cost elements that comprise the priceC Cost analysis requires no further determination of price reasonablenessD Cost analysis is fact-based while price analysis is judgment-basedQuestion:A prime contract is awarded by the government to company A. Company A awards a subcontract to company B which then awards a subcontract to company C. Which of the following statements is true?A There is privity of contract between company A and company CB There is privity of contract between the government and company CC There is privity of contract between the government and company AD There is privity of contract between the government and company BQuestion:Under FASA, which of the following is now required?A Certification of claims over established thresholdsB Reporting of contacts with federal contractors regarding employmentC Disclosure of patents that cover any contract deliverableD Consideration of a contractor’s past performance in source selection decisionsQuestion:The government’s right to enter into contracts comes fromA The ConstitutionB The PresidentC CongressD The Supreme CourtQuestion:Name the five essential elements of a contract.A Offer, acceptance, meeting of the minds, consideration, and sufficient resources to pay for the goods or servicesB Offer and acceptance coupled with a letter of authority to perform a lawful actC Offer, acceptance, corporate formation, consideration, and lawful proposalsD Offer, acceptance, consideration, capacity of the parties, and a purpose to conduct a lawful acts or enterpriseQuestion:Statutes are issued in the FAR throughA The federal register rulemaking processB Each agency’s statutory implementation processC The Office of Management and BudgetD Congressional liasions with executive agenciesQuestion:Competition requirements in Federal Acquisition Regulation (FAR) part 6 apply toA Contracts awarded using simplified acquisition procedures of FAR part 13B Contracts awarded using procedures in FAR part 15, Contracting by NegotiationC Orders placed under requirements contracts or definite-quantity contractsD Orders placed against task order and delivery order contracts entered into pursuant to FAR Subpart 16.5Question:A feature of the negotiated acquisition process isA Selecting from several contract typesB Using a faster acquisition processC Requiring full and open competitionD Awarding the contract based on low bidQuestion:A law is initially identified by its Public Law number, such as 93-400. What do th
ese two numbers represent?A The first is the calendar year of passage and the second is the sequence of the law within that yearB The first is a sequential number for that session of congress and the second indicates where the law will be codified in the US CodeC The first represents the session of Congress and the second is the sequential number for laws passed in that sessionD The first reflects the number of positive votes in the Senate and the second the positive votes in the House of RepresentativesQuestion:FARA’s restriction on contractor certifications not being required unless Congress mandates it is an example ofA The contracting community prevailing on Congress about the over-criminalization of the procurement processB The integrity of contractors such that formal certifications are not generally requiredC The Department of Justice being overburdened investigating the possibility of false certificationsD The need of federal agencies to have their own unique need for certifications to meet their respective missionsQuestion:A contract can be defined asA A set of terms and conditions that defines precisely what each party is obligated to performB A promise or a set of promises, for which the law provides a remedy in case of a breach by either partyC A properly formatted document containing all the required and applicable terms and conditionsD A promise by one party to pay another party if they perform a serviceQuestion:The Truth In Negotiation Act requires certified cost and pricing data whenA Adequate competition existsB Prices are set by law or regulationC Contracts are awarded without competition or involve the modification of an existing contract above a stipulated valuesD Prices are based on established catalog or market pricingQuestion:The role of the executive branch in the government contracting process is toA Develop plans, programs, and budgetsB Render decisions pertaining to the terms of a contractC Enact laws that impact the contracting processD Identify funding for contract actionsQuestion:What method of acquisition is used to buy commercial items?A SimplifiedB Sealed bidC NegotiatedD All of the aboveQuestion:The Truth In Negotiation Act provides which of the following remedies when the act is violated?A The contract price can be adjusted in the amount of the defective pricingB The company will be suspended and possibly debarred for the violationC The violating company will have to appoint an independent internal auditor to prevent future violationsD The contractor’s past performance rating will be decrementedQuestion:The Prompt Payment Act states that if the government fails to make a payment in time, they are required toA Pay interest automaticallyB Provides for accelerated payments to small businessesC Requires an agency to pay interest on late payments upon contractor requestD Requires payment of interest for commercial items at the current “Treasury credit card average rate,” usually around 18 percentQuestion:The acquisition team consists ofA All participants in government acquisitionB The contracting officer and the auditorC The technical representative and the customerD The contractor and the contracting officerQuestion:Which FAR Part prescribes policies and procedures for including inspection, acceptance, and warranty?A FAR Part 46, Quality AssuranceB FAR Part 42, Contract AdministrationC FAR Part 43, Contract ModificationsD FAR Part 4, Administrative MattersQuestion:Name the five essential elements of a contract.A Offer, acceptance, meeting of the minds, consideration, and sufficient resources to pay for the goods or servicesB Offer and acceptance coupled with a letter of authority to perform a lawful actC Offer, acceptance, corporate formation, consideration, and lawful proposalsD Offer, acceptance, consideration, capacity of the parties, and a purpose to conduct a lawful acts or enterpriseQuestion:The Truth In Negotiation Act requires certified cost and pricing data whenA Adequate competition existsB Prices are set by law or regulationC Contracts are awarded without competition or involve the modification of an existing contract above a stipulated valuesD Prices are based on established catalog or market pricingQuestion:FAR Part 3 provides that “Transactions relating to the expenditure of public funds require the highest degree of public trust and”A An impeccable standard of conductB Fair and reasonably-priced contractsC Full and open competition for all acquisitionsD Fair and honest contracting officersQuestion:This special contracting method provides a unilateral right for the government to elect to purchase additional supplies and servicesA OptionB Multi-year contractingC ExtensionD Extra-year contractingQuestion:The objective of negotiating a contract type is to obtain a result that providesA Reasonable contractor risk and incentive for efficient performanceB Reasonable government risk and incentive for effective performanceC Low government risk and effective contractor performanceD Low contractor risk and incentive for efficient performanceQuestion:In order to receive a government contract, a company must beA ResponsibleB ResponsiveC DependableD ReliableQuestion:FARA’s restriction on contractor certifications not being required unless Congress mandates it is an example ofA The contracting community prevailing on Congress about the over-criminalization of the procurement processB The integrity of contractors such that formal certifications are not generally requiredC The Department of Justice being overburdened investigating the possibility of false certificationsD The need of federal agencies to have their own unique need for certifications to meet their respective missionsQuestion:A contract can be defined asA A set of terms and conditions that defines precisely what each party is obligated to performB A promise or a set of promises, for which the law provides a remedy in case of a breach by either partyC A properly formatted document containing all the required and applicable terms and conditionsD A promise by one party to pay another party if they perform a serviceQuestion:Award of a sealed bid contract is done on the basis ofA Price and price related factorsB Cost/technical tradeoffC Highest technical scoreD Stated evaluation factorsQuestion:It is improper, under the Procurement Integrity Act, forA Any federal employee to discuss future employment with a contractor unless and until such contact is approved by the agencyB Any employee to accept compensation from a federal contractor for one year after leaving government employmentC Any employee to disclose source selection informationD To retaliate against any person due to their actions as a whistleblowerQuestion:Competition requirements in Federal Acquisition Regulation (FAR) part 6 apply toA Contracts awarded using simplified acquisition procedures of FAR part 13B Contracts awarded using procedures in FAR part 15, Contracting by NegotiationC Orders placed under requirements contracts or definite-quantity contractsD Orders placed against task order and delivery order contracts entered into pursuant to FAR Subpart 16.5