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Question 1

If defective pricing is discovered after award:

Options :

A : The Government has no recourse

B : The contractor determines the amount of increase and bills the Government

C : The Government is entitled to a price adjustment if the amount is significant

D : A 15% penalty applies to any overpayment attributable to the contractor-s error

Answer: C

Question 2

Which of the following is an example of a contract under which contractors could be authorized to use Government supply sources?

Options :

A : Government firm-fixed price contract

B : Contract under the Javits-Wagner-O'Day Act

C : A negotiated contract with a contractor that has no other Government cost-reimbursement type contracts

D : Time and materials contracts for repair of commercial equipment

Answer: B

Question 3

Which of these is NOT a normal function of a contract administration office?

Options :

A : Review the Contractor-s compensation structure and insurance plans

B : Conduct post-award orientation conferences

C : Assist the contractor in management of its subcontractors

D : Determine the Contractor-s compliance with Cost Accounting Standards

Answer: C

Question 4

There are two value engineering approaches, the:

Options :

A : Contractor approach and the Government program

B : Government approach and the contractor program

C : Incentive approach and the mandatory program

D : Mandatory approach and the incentive program

Answer: C

Question 5

The process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profit is called:

Options :

A : Technical analysis

B : Price analysis

C : Field pricing support analysis

D : Informal analysis

Answer: B