Question 1

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 2

All of the following are true concerning Project Wage Determinations EXCEPT:

Options :

A : They are issued at the specific request of a contracting agency

B : They are effective for 90 calendar days from the date of determination

C : They are used only when no general wage determination applies

D : They apply only to the contracts for which they were issued

Answer: B

Question 3

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 4

The contracting officer's certification can serve as approval of the justification for other than full and open competition for a proposed contract NOT exceeding

Options :

A : $25,000

B : $550,000

C : 1,500,000

D : $5,000

Answer: B

Question 5

Performance and payment bonds are required or may be required for:

Options :

A : Construction contracts exceeding $2,000

B : Construction contracts exceeding $100,000

C : Services and supply contracts exceeding the simplified acquistion threshold when necessary to protect the Government-s intrest

D : Both b and c

Answer: D

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