Term
| The point when agency needs are established and includes all activities directly related to the process of fulfilling agency needs by contract is defined as: |
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Definition
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Term
| Which of the following is a commericial item? |
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Definition
| A commericial item which has been minimally modified to meet government requirements.
FAR 2.101 |
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Term
| Consolidating two or more requirements for supplies or services, previously provided or performed under separate smaller contracts, into a solicitation for a single contract is define as: |
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Definition
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Term
| Which of the following are included in the definition of “contracts”? |
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Definition
Letter contracts and job orders issued under Basic Ordering Agreements.
FAR 2.101 |
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Term
| Contracts do include grants and cooperative agreements. |
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Definition
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Term
| The percentage or dollar factor that expresses the ratio of ____ expense incurred in a given period to direct labor cost, manufacturing cost, or another appropriate base for the same period. Final ____ cost rate means the ____ cost rate established and agreed upon by the Government and the Contractor as not subject to change. |
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Definition
Indirect Cost Rate
FAR 2.101 |
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Term
| The micro-purchase threshold is: |
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Definition
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Term
| For acquisition of construction the threshold is $2000. It is subject to what Act? |
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Definition
Davis-Bacon Act
FAR 2.101 |
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Term
| For acquisition of services subject to the Service Contract Act, the threshold is? |
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Definition
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Term
| An agreement that is not binding solely because the government representative who made it lacked the authority to enter into that agreement on behalf of the government. |
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Definition
Unauthorized Commitment
FAR 2.101 |
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Term
| The electronic database maintained and posted by GSA containing the list of all parties suspended, proposed for debarment, debarred, declared ineligible, or excluded or disqualified under the nonprocurement common rule by agencies, Government corporations, or by the GAO is called: |
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Definition
Excluded Parties List System
FAR 2.1 |
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Term
| Acquiring by contract with appropriated funds of supplies or services (including construction) by and for the use of the Federal Government through purchase or lease, whether the supplies or services are already in existence or must be created, developed, demonstrated, and evaluated is |
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Definition
Acquisition
FAR 2.101(b)(2) |
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Term
| The expected outcome of an acquisition that, in the government's estimation, provides the greatest overall benefit in response to the requirement is: |
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Definition
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Term
| An acquisition structured around the results to be achieved as opposed to the manner by which the work is to be performed is known as: |
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Definition
Performance-Based Acquisition
FAR 2.101 |
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Term
| Best value is the expected outcome of an acquisition that in the government estimation, provide the __________ overall benefit in response to the requirement. |
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Definition
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Term
| Any item, other than real property, that is customarily used for nongovernmental purposes and that has been sold, leased, or licensed to the general public; or has been offered for sale, lease, or license to the general public is considered to be a __________ item. |
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Definition
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Term
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Definition
Agency needs are established
FAR 2.1 |
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Term
| It is: 1. Management and professional Support Services, 2. Studies, analyses, and evaluations and 3. Engineering and technical services: |
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Definition
Types of Advisory and Assistance Services
FAR Part 2 |
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Term
| An "offer" in response to an RFP: |
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Definition
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Term
| A "certified" written demand [per FAR 33.206(a)] seeking, as a matter of right, payment of money in a sum certain, or adjustment of contract terms: |
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Definition
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