Contracting governments - Study guides, Class notes & Summaries

Contracting Officer Unlimited Warrant Board|Complete Questions with A+ Graded Answers What is an option? An option is a unilateral right in a contract, for a specific period of time, where the Government may elect to purchase additional supplies or services called for by the contract, or extend the period of performance. The PCO should use options when (1) in the Governments best interest, (2) there is a need for service beyond the initial period, and (3) to ensure continuity of service. The...

Natural Event Geological or atmospheric processes involving the release of energy and has nothing to do with people. Geological is due to the hot interior of the Earth and can be expressed as volcanoes. Atmospheric type of energy is the product of solar energy which can be expressed as tornadoes. Characteristics of a Natural Disaster (5) geological, atmospheric, magnitude, frequency, duration, areal extent Recurrence interval time between same sized events (150 years) frequency 1/recurrenc...

Methods of Vendor Selection - ️️1. Competitive Sealed Bidding 2. Competitive Contracting 3. Competitive Quotations 4. Proprietary Purchases 5. Emergency Purchases Contract - ️️Agreement which is legally binding relationship enforceable by law, between a vendor who agrees to provide or perform goods or services and a conbtracting unit which agrees to compensate a vendor as defined by and subject to the terms of the agreement. Forms of NJ Municipal Government - ️️1. Boroughs ...

CFCM Practice Test Questions and Answers Graded A+ - Latest Updated 2024/2025 (Solved) How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - answerEvery 5 years A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - answer-determination and findings Contracting officers below the level of ___ shall be selected and appointed - an...

Contracting Officer Unlimited Warrant Board|Complete Questions with A+ Graded Answers What is an option? An option is a unilateral right in a contract, for a specific period of time, where the Government may elect to purchase additional supplies or services called for by the contract, or extend the period of performance. The PCO should use options when (1) in the Governments best interest, (2) there is a need for service beyond the initial period, and (3) to ensure continuity of service. The...

How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? (a) Annually (b) Bi-annually (c) Every five years (d) Only as required - ANSWER-(c) Every five years (FAR 1.109) A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actions is defined as: (a) A ratification (b) Determination and Findings (c) The Contracting Officer's Final Decision (d) A wa...

CFCM Practice Test Questions and Answers Latest Updated 2024/2025. A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - answer-determination and findings Contracting officers below the level of ___ shall be selected and appointed - answer-a head of a contracting activity According to the FAR conventions at Subpart 1.1, each authority is delegable unless - answer-specifi...

CFCM Prep Questions With Complete Solutions 100% Verified How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? (a) Annually (b) Bi-annually (c) Every five years (d) Only as required - answer(c) Every five years (FAR 1.109) A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actions is defined as: (a) A ratification (b) Determination and Findings (...

How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - ️️Every 5 years A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - ️️determination and findings Contracting officers below the level of ___ shall be selected and appointed - ️️a head of a contracting activity According to the FAR conventions at Subpart 1.1, ...

Contracting Officer Unlimited Warrant Board|Complete Questions with A+ Graded Answers What is an option? An option is a unilateral right in a contract, for a specific period of time, where the Government may elect to purchase additional supplies or services called for by the contract, or extend the period of performance. The PCO should use options when (1) in the Governments best interest, (2) there is a need for service beyond the initial period, and (3) to ensure continuity of service. The...