Contracting officer co Study guides, Class notes & Summaries

Contracting Officer Representative Course Latest Update Graded A+ FAR Federal Acquisition Regulation FAR must follow 1) commit to fair and open competition 2) ensure responsible use of taxpayer money 3) maintain highest ethical standards COR general responsibilities 1) acquisition planning 2) market research 3) contract/performance management COR traits technical expertise and familiarity with all aspects of the contract COR specific duties 1) furnish technical direction and monitor contract...

Performance-base acquisition offers __________, which can be used to adjust payment to reflect the degree of performance success and to motivate superior performance correct answer: incentives ___________ contracts are characterized by the employer-employee relationship it creates between the Government and the Contractor's personnel correct answer: Personal Service When deciding how to measure and manage performance, the contracting officer (CO) should consider all of the following co...

Certified Federal Contracts Manager (CFCM) Questions and Answers 100% Pass A cost is reasonable if, in its nature and amount, it does not exceed that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated after the incurrence of the costs involved. Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if it meets all but which of the following? The contract specifies paym...

CFCM Practice Test Questions and Answers Graded A+ - Latest Updated 2024/2025 (Solved) How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - answerEvery 5 years A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - answer-determination and findings Contracting officers below the level of ___ shall be selected and appointed - an...

The Federal Acquisition System was established for the codification and publication of uniform policies and procedures for acquisition by all legislative agencies. True or False? False. " . . .for acquisition by all EXECUTIVE agencies." What is the primary document (and agency regulations that implement or supplement this document) of the Federal Acquisition Regulations System? a. Code of Federal Regulations (CFR) b. The Defense Acquisition Regulations (DAR) c. The U.S. Code (U.S....

Dispositon correct answer: The act of moving goods out of one's internal organization to another organization due to loss of value. A contracting officer is preparing to award a contract for Advisory & Assistance Services to a small business. The contracting officer wants to make sure the small business is financially capable of performing and managing the contract. The Contracting Officer requests the contractors Balance Sheet from the most recently completed fiscal year. What is an exampl...

Cost or Pricing - FAR 15.4 Latest Update Graded A+ Definition of Certified Cost or Pricing Data All facts, that as of the date of price agreement, or if applicable, an earlier date agreed upon between the parties that's as close as practicable to the date of agreement on price, prudent buyers and sellers would reasonably expect to affect price negotiations significantly. Cost or pricing data are factual, not judgmental; and are verifiable. Pricing Policy PCO shall purchase from res...

The Federal Acquisition System was established for the codification and publication of uniform policies and procedures for acquisition by all legislative agencies. True or False? False. " . . .for acquisition by all EXECUTIVE agencies." FAR 1.1 What is the primary document (and agency regulations that implement or supplement this document) of the Federal Acquisition Regulations System? a. Code of Federal Regulations (CFR) b. The Defense Acquisition Regulations (DAR) c. The U.S....

CPCM Wk 2 - Management Practice Exam Questions & Answers 2024/2025 Dispositon - ANSWERSThe act of moving goods out of one's internal organization to another organization due to loss of value. A contracting officer is preparing to award a contract for Advisory & Assistance Services to a small business. The contracting officer wants to make sure the small business is financially capable of performing and managing the contract. The Contracting Officer requests the contractors Balance Sheet...

CFCM Practice Test Questions and Answers Latest Updated 2024/2025. A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - answer-determination and findings Contracting officers below the level of ___ shall be selected and appointed - answer-a head of a contracting activity According to the FAR conventions at Subpart 1.1, each authority is delegable unless - answer-specifi...