For a contract cost to be considered “allowable,” it must meet certain criteria. If the cost can be attributed to a specific contract, which one of the following criteria is met?
Reasonable
Consistent with Government Cost Accounting Standards
Allocable
Consistent with the terms of the contract
The Navy gets some negative past performance information from the Marine Corps about a defense contractor who was late in delivering items on a contract last year. This contractor’s proposal was one of five received in response to the Navy’s Request for Proposal. The Contracting Officer plans on holding discussions with each of the offerors in the competitive range, once that range is established next week. What form of information exchange would the Navy use to find out more about the contractor’s late deliveries?
Communications
Negotiations
Solicitations
Clarifications
Which of the following is something you should NOT do during negotiations?
Probe and question until satisfied with the result.
Identify and prioritize discussion items and concerns.
Listen attentively while others contribute to the discussion.
Reveal specific findings or numbers to the contractor.
A company’s organizational structure supports its business strategy by:
Focusing resources where needed to achieve corporate goals and objectives
Using only the divisional organizational structure
Having as many managers as possible
Focusing on only one area
Negotiations cannot take place until after the Source Selection Authority has awarded the contract.
True
False
An effective organizational structure facilitates rapid responsiveness to change by:
Concentrating solely on profit
Ensuring that top management makes all key decisions
Delegating decision making to the lowest level possible
Focusing on stability and resistance to change
During source selection, who is the focal point when answering questions from potential offerors?
Program Manager
Contracting Officer
Lead Systems Engineer
Deputy Program Manager
For a cost in a contract to be considered allowable, it must meet certain criteria. One of the criteria that must be met is that ______________________.
The cost must be exempt from compliance with the Federal Acquisition Regulations
The cost need not be in compliance with industry accounting standards
The cost must exceed what a prudent business person would incur
The cost must be reasonable
In Government contracting, one criterion for cost allowability is that the contractor’s costs must comply with Generally Accepted Accounting Principles (GAAP) and _________________.
Government Cost Accounting Standards (CAS)
Cost as an Independent Variable (CAIV) Principles
Lean Manufacturing Principles
ISO 9001 Principles
During fact finding, the proposal reviewers submit their questions to the ________________.
Program Manager
Subcontractor
Contractor
Contracting Officer
___________ companies often centralize staff functions to support all business units; __________ companies often decentralize staff functions, dedicating them to each business or product organization.
Divisional/functional
Divisional/matrix
Larger/smaller
Smaller/larger
Forward Pricing Rates Agreements are written negotiation agreements between the contractor and Government that provide ______________________.
Reasonable projections of easily identified specific costs
Consistency in proposal pricing and save time
Forward pricing rates that are estimated by using exact costs and prices
Pricing rates for an undefined period of time
Overhead and general and administrative (G&A) costs are examples of:
Indirect costs
Cost objectives
Soft money costs
Direct costs
ScholarMatic: Explanation & Answer
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