WARRANT BOARD 2 EXAM QUESTIONS WITH A+ GRADED ANSWERS
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WARRANT BOARD
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WARRANT BOARD
WARRANT BOARD 2 EXAM QUESTIONS WITH A+ GRADED ANSWERS
What are the 4 steps to minimize defective pricing? FAR 15.4
a. Obtain DCAA audits prior to negotiation
b. Audit work in process
c. Pressure Contractor to correct deficiencies
d. Have Contractor evaluate subcontract proposals properly
...
WARRANT BOARD 2 EXAM QUESTIONS WITH
A+ GRADED ANSWERS
What are the 4 steps to minimize defective pricing? FAR 15.4
a. Obtain DCAA audits prior to negotiation
b. Audit work in process
c. Pressure Contractor to correct deficiencies
d. Have Contractor evaluate subcontract proposals properly
What is the reference for Acq plan (AP) and location of template?
AFFARS 5307.105
Color of Money
3400-O&M-1 year
3600-R&D-2 year
3080-procurement-3 year
What are the elements of a contract?
a. Legal capacity
b. Offer
c. Acceptance
d. Consideration
e. Clear Terms & Conditions
f. Does not include illegal acts
Unilateral change under changes clause (FAR 43.201)
a. Contractor must continue performance unless incremental funded or cost reimbursable
b. Contractor cannot incur costs beyond limits established in limitations of funds or limitation of cost
clauses
What is a change order? (FAR 43.201)
Contractor must continue performance of contracts as changed except that....
In cost or incrementally funded the contractor is not obligated to continue performance or incur cost
beyond limits in limitation of cost or limitations of funds clauses.
Name the Four (4) mod decision principles. (FAR 43)
a. Within Scope
b. Impact on Competition
c. Value change increase, decrease, or no change
d. Correct funds
List factors in selecting contract types. (FAR 16.104)
a. Price competition
b. Price & or cost analysis
c. Type and complexity of requirement
d. Period of performance or length of production
e. Contractor technical capability and financial responsibility
f. Adequacy of contractor accounting system
g. Concurrent contracts
,h. Acquisition history
Name the most common exceptions to synopsizing.
a. National security
b. Country directed sole source
c. Authorized by statute, 8a/JWOD
d. National emergency-"urgent &compelling"
e. Utility services
Cost Analysis techniques. (FAR 31)
a. Verify necessity and reasonableness
Are costs?
Allowable
Allocable
Reasonable
b. Prices previously paid
c. IGE
PK Guide—what are thresholds for SASS and formal Acquisition plan?
a. SASS (150K) </= 10M
b. Formal AP > 10M
AETC OI 64-1—When do you need contract clearance?
a. To award without discussions
b. To request final proposal revisions
c. Award contract (non-competitive actions or only one proposal received)
AETC OI 64-1—When do you need business clearance?
a. Prior to issuance of solicitation
b. To begin negotiations
AFI 63-124—PBSA—What is the dollar threshold?
All service contracts over the SAT (150K)
What are dollar thresholds for SB coordination?
a. SBS reviews all acq > 10K
b. Except those under SAT (150K) that are total set-asides
How long does SBA need to return 2579?
a. 3 Business days under normal circumstances
b. 5 business days for 8(a) offering
Name guidance source & threshold for Multifunctional independent review team (MIRT).
MP 5301.9--$50M or more
What are the mandatory evaluation factors on all SS over 10M?
a. Mission capability
,b. Risk
c. Past Performance
d. Cost/price
What is the purpose of using weighted guidelines?
a. Weighted Guidelines = profit
b. WG is a structured approach
c. Used to develop, analyze & negotiate profit, based on complexity & level of effort
d. Focuses on (4) profit factors:
1. Performance risk
2. Contract type
3. Facilities capital
4. Cost efficiency
Cost Analysis (FAR 31)
a. Review and evaluation of separate cost elements
b. Structured approach to determine fair & reasonable or cost realism
Define Certificate of cost or pricing data & list exceptions. (FAR 31)
--Current, accurate, and complete
>/= 700K
Exceptions:
a. Adequate price competition
b. Prices set by law or regulation
c. Commercial item
d. Waiver has been granted
e. Modifying a contract (commercial)
Cost Realism Analysis (FAR 15.403-1)
a. Are costs allowable, allocable & reasonable
1. Consistent with tech proposal
2. Reflect clear understanding of the requirement
3. Realistic for the work (i.e. manpower etc)
Who is the AETC Ombudsman? What is the ombudsman clause?
a. Mr. David Jones—Appointed Dec 2011
b. AFFARS 5301.9102
--Resolves issues or concerns (ADR-Alternate dispute resolution)
What is the difference between cost and price analysis?
a. Price Analysis—involves overall analysis of total price w/o separate cost elements
b. Cost Analysis—involves evaluation of each separate cost element to include Profit and Fee
What are the differences between apparent, implied, & express authority?
Express: authority is set forth in writing (warrant)
Implied: authority is reasonably necessary to carry out express grant of authority (inferred by
customer, conduct, rules & regs)
--By virtue of duties
Apparent: Authority is lacking of actual authority
, What are the elements of estoppel?
a. Government is aware of true facts
b. Contractor is not aware of true facts
c. Government intends for contractor to rely on Government conduct
d. Contractor relies to its injury
When is it proper to use Fixed price incentive fee (FPIF) type contract?
(Elements of FPIF)
a. In situation when:
1. too much risk for FFP
2. Contractor accounting system is adequate to provide negotiation of final cost & incentive price
revision
b. Elements
1. Target cost
2. Target profit
3. Target price
4. Ceiling price (PTA: point of total assumption)
5. Share ratio
Name four (4) violations of the anti-deficiency act (ADA).
a. Obligation in excess of funds
b. Expenditure in excess of funds
c. Committing the Gov't in advance of appropriations
d. Improper augmentation of appropriations
e. Accepting voluntary services
Name some market research techniques.
a. Request for Information (RFI)
b. Industry Day
c. Internet Search Engines (EZ Query)
d. Historical data
e. Other Gov't contracts
f. Catalogs/trade journals
Causes for suspension? (FAR 9.407-2)
a. Committed fraud or criminal offense
b. Violation of fed or state anti-trust statues
c. Committed theft, forgery, bribery, falsification of records, evasion, or receiving stolen property
d. Intentionally labeling "made in America"
Administrative matters cover the following.... (FAR Part 4)
a. Responsibilities of a CO
b. Distribution of contracts (w/in 10 days)
c. E-commerce
d. Reporting data
e. Contract files admin
f. Procedures for closeout (DFARS 204.804)
FAR 5.3 publicizing contract awards. Name 3 exceptions to posting award in FBO.
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