CON 290 EXAM REVIEW 2024 WITH 100% ACCURATE SOLUTIONS, Exams of Nursing

Download CON 290 EXAM REVIEW 2024 WITH 100% ACCURATE SOLUTIONS and more Exams Nursing in PDF only on Docsity! CON 290 EXAM REVIEW 2024 WITH 100% ACCURATE SOLUTIONS What is the difference between Negotiations and Fact-Finding - ANSWER ☑☑Fact-finding: to obtain a clear understanding of the contractor's proposal, Government requirements, and any alternatives proposed by the contractor In a non-competitive procurement it is tempting to NEGOTIATE DURING FACT-FINDING. However, you should NEVER DO so because this causes the Gov't to lose in two ways: - ANSWER ☑☑i. Issues are negotiated before analysis is completed so may be based on inaccurate or incomplete information ii. Once fact-finding turns into negotiation, it becomes less likely that any remaining fact-finding issues will be clarified What is Position-Based negotiation (PBN)? - ANSWER ☑☑PBN involves each party taking a position and arguing for it without learning the interests of the other party. It focuses on obtaining your position through the use of power and adversarial tactics and techniques without consideration of the other side's interests or needs. What is Interest-Based negotiation? - ANSWER ☑☑Interest-based negotiation (IBN) is a step-by-step approach used to identify common interests of the parties. Identifying common interests promotes solutions that satisfy the needs of both parties. What is your BATNA? - ANSWER ☑☑Best alternative to a negotiated agreement - your absolute bottom line. If an agreement isn't better than your BATNA, it actually makes you worse off. Your BATNA may be an alternative that doesn't involve a contract w/the current offeror What is your reservation price? - ANSWER ☑☑Reservation Price is the value below which you would rather accept impasse and settle for your best alternative. You must sometimes show willingness to walk away from marginal agreements in order to achieve excellent ones. What is an anchor? - ANSWER ☑☑An initial number or position offered, purposely or inadvertently, by one party. When a second anchor is set, a range for negotiation is establish Contract financing payments include - - ANSWER ☑☑i. Advance payments ii. Performance-based payments (preferred method) iii. Commercial advance and interim payments iv. Progress payments based on cost v. Progress payments based on a percentage or stage of completion vi. Interim payments under a cost reimbursement contract Difference between FPIF and CPIF Contract - ANSWER ☑☑FPIF Contract Target Cost Target Profit Profit Adjustment Formula Ceiling Price Point of Total Assumption CPIF Contract Target Cost Target Fee Fee Adjustment Formula Minimum Fee Maximum Fee What are performance-based payments? - ANSWER ☑☑a. Contract financing payments made on the basis of: i. Performance measured by objective, quantifiable methods. ii. accomplishment of defined events, or iii. Other quantifiable measures of results c. Total Cost - The difference between the original contract price and the actual cost of performing the contract as changed Costs NOT to consider when making a change - ANSWER ☑☑a. Cost impacts on other contracts. b. Costs of changes made by persons other than the KO. c. Costs of prosecuting a claim. d. Costs that is otherwise unallowable. e. Costs incurred prior to written notice (applicable to some construction contracts). f. Costs incurred after final payment Other considerations - ANSWER ☑☑a. Profit/Fee normally included b. Change Order Accounting c. Assure Resolution and Release i. Avoid later controversy ii. Contractor's Statement of Release Adjustment for unabsorbed indirect cost - ANSWER ☑☑Eichleay - is the preferred method If a COFD is issued, what options does Proto have? - ANSWER ☑☑They can accept it or appeal to the Agency Board of Contract Appeals (BCA) or the U.S. Court of Federal Claims 2What are the Exemptions of the Truth in Negotiations Act (TINA)? - ANSWER ☑☑Commercial, Competition and Waiver (CCW) When does TINA apply to change orders? - ANSWER ☑☑When the absolute value of the increase and decrease exceeds the applicable dollar thresholds. (Because it is no longer competitive) Cost or Pricing Data defined - ANSWER ☑☑Means all facts that, as of the date of price agreement or, if applicable, an earlier date agreed upon between the parties that is as close as practicable to the date of agreement on price, prudent buyers and sellers would reasonably expect to affect price negotiations significantly Defective Pricing Offsets - ANSWER ☑☑Interest for Delivery Overpayments ONLY Penalties for defective pricing - ANSWER ☑☑Penalty is equal to the amount of overpayment For defective pricing to exist. - ANSWER ☑☑The Government MUST have relied upon the contractor's data If the Government DID NOT rely on the contractor's data. - ANSWER ☑☑Then there is NO defective pricing What are sweeps? - ANSWER ☑☑Extensive reviews of available cost or pricing data after negotiations are complete, before submission of the certification If the contract exceeds 18 months. given a scenario that you will have to tell them how many CPARs will need to be done - ANSWER ☑☑Then an interim Performance Assessment Report is done at 12 months and annually until physical completion Contractor Review - ANSWER ☑☑Contractors must be allowed to review and comment on any past performance assessments and must be provided copies of performance assessments as soon as practical after they have been prepared How shall you not retain source selection information? - ANSWER ☑☑FAR 42.1503 states past performance information shall not be retained to provide source selection information for longer than 3 years after completion of contract performance Settlement Profit No-No's DO NOT - ANSWER ☑☑a. Allow profit on settlement expenses b. Allow anticipatory profits on work not accomplished c. Allow profit for undelivered materials d. Base profit on subcontractor settlement amounts Why is performance-based payments the preferred method of contract financing? Per FAR 32.1001 (a) - ANSWER ☑☑Because they are based upon completion of an objective event rather than just the expenditure of money Andy, a contracting officer, is reviewing a Performance Based Payment (PBP) request from his contractor. The PBP event listed in the contract requires the contractor to complete the mock-up of a prototype unit for Government technical team review. The contractor has completed 99% of the mock-up, but ran into a delay with a 3rd tier subcontractor. The contractor informs Andy that the mock-up will be 99% complete at the time of the Government review. Based only on these facts, may Andy approve the PBP request at this time? - ANSWER ☑☑No, the PBP event must be 100% complete before the payment may be approved 8-3 Bob is the contracting officer on a production contract for the XB-8 missile program. The contractor did not request contract financing when the contract was awarded, but has since submitted a request to Bob to incorporate Progress Payments. How must Bob handle this request? - ANSWER ☑☑Financing may be incorporated into this existing contract if adequate new consideration is provided by the contractor. Material 559,200 Labor 565,760 ODC 1,840,909 Misc ODC (3.9%) 71,795 Subtotal 3,037,664 G&A 73.5% 2,232,683 Subtotal Cost 5,270,347 should you respond? - ANSWER ☑☑$10,000 You are administering a cost-plus-fixed-fee (CPFF) completion contract with Cooper Corporation to develop a new sensor. The fixed fee in the contract is $100,000, which was was based upon 10% of the $1 million estimated cost. At the end of the contract, Cooper has delivered the new sensor in accordance with the contract requirements. Cooper has incurred $1,050,000 of cost. How much fee has Cooper earned? - ANSWER ☑☑$100,000, because Cooper delivered the new sensor in accordance with the contract requirements. While evaluating an incurred cost submission, you discover the contractor has included public relations costs associated with the company's participation in a charity drive. Is this an allowable cost according to FAR 31.205, "Selected Costs"? - ANSWER ☑☑Yes, per FAR 31 public relations costs involving community service activities are allowable You are negotiating with Galaxia, Inc, to definitize a letter contract. Galaxia has already completed 50% of the contract work. According to the DFARS, what impact will this have on establishing your negotiation position for profit? - ANSWER ☑☑You should consider Galaxia's reduced contract risk in developing your negotiation position on profit. You are about to award a fixed-price-incentive-firm (FPIF) contract to Dowling Corporation for low-rate initial production of new sensor. After contract award, why is it important to calculate the point of total assumption (PTA) for the contract and understand the implications thereof? - ANSWER ☑☑So you can use PTA to assist in monitoring cost performance during contract execution. The Nanotech case study brought each of the following negotiation issues into play except - ANSWER ☑☑Follow-on options for more prototypes You are preparing an RFP for a CPIF contract and are considering offering contract financing in the form of either performance-based payments or progress payments based on cost. Which form of financing may you offer? - ANSWER ☑☑Neither form may be offered, if this will be a cost-reimbursement contract type. You have just awarded an FPIF contract which includes the following:Ceiling Price: $2,160,000 Target Cost: $1,800,000 Target Price: $2,000,000 Share Ratio: 60/40 What is the Point of Total Assumption (PTA)? - ANSWER ☑☑$2,066,667 You are monitoring a Fixed-Price Incentive Firm (FPIF) contract with FedSource, Inc. and note the company is now in an overrun situation. At what point will the Government no longer share cost overruns with FedSource? - ANSWER ☑☑At the Point of Total Assumption Tom is negotiating a cost reimbursement contract with Abercrombie Products Corporation (APC). APC insists it is entitled to retain title to all property which it purchases and is reimbursed under the contract. Who retains title to such contractor-acquired property? - ANSWER ☑☑Under a cost reimbursement contract, the Government retains title to all property purchased by the contractor for which the contractor is entitled to be reimbursed as a direct item of cost under this contract. Lisa is preparing a solicitation for a critical defensive system support item to be delivered directly to a combat unit in the field. Based only on the foregoing information, which of the following may Lisa exclude from the competition? - ANSWER ☑☑None of these may be excluded from the competition You are negotiating the cost of materials with the Contractor's representative. During the course of the negotiations, you raise concerns and offer valid data supporting your concerns that the Contractor's proposed costs are unrealistically low. Even so, the Contractor continues to argue their position, ignore your negotiation points, and avoids discussing your different and convergent interests. The Contractor is engaging in what type of negotiation strategy? - ANSWER ☑☑Position Based Negotiations In which of the following circumstances would the use of "fact-finding" be appropriate? - ANSWER ☑☑In non-competitive environments after receipt of proposals but before negotiations Dan is administering a contract that provides for the use of Government Furnished Property (GFP). Due to real-world mission requirements, GFP was delivered late to the contractor. The Contractor has not contacted the Government on this issue. Which of the following actions best describes Dan's responsibility at this point in time? - ANSWER ☑☑Modify the contract cost or schedule but only if the contractor submits a valid request for equitable adjustment. You are evaluating a proposal that requires an analysis of Facilities Capital Cost of Money (FCCOM). Using the following information, as appropriate, calculate the Facilities Capital Employed amount. (Use FCCOM Form DD 1861.) Company-wide allocation base for Engineering Overhead pool: $12,700,000 Company-wide allocation base for G&A expense pool: $29,490,000 Your pre-negotiation objective allocation base for Engineering Overhead pool: $1,300,000 Your pre-negotiation objective allocation base for G&A expense pool: $2,211,750 Engineering Overhead factor: 0.110000 G&A factor:0.001240 Treasury Rate: 3.9% - ANSWER ☑☑$3,737,000 Your customer has an urgent requirement for a sensor that will detect the presence of mephitite, a highly toxic substance being used by terrorists to fashion new chemical weapons. According to market research, there is no existing sensor that meets this requirement. A new sensor could be developed, but such a novel development project will most likely take from 18 months to 2 years after contract award (ARO) to accomplish. Your customer needs the sensor as soon as possible, preferably within 12 months ARO. - ANSWER ☑☑Cost-plus-incentive-fee with a delivery date of 18 months ARO with delivery incentives for earlier delivery You are preparing to issue a competitive RFP for a development contract. Your customer has heard that two large contractors plan to form a joint venture to respond to the solicitation. Due to past issues with a joint venture, he has directed you to exclude joint ventures from submitting proposals. Does the FAR allow you to exclude joint ventures? - ANSWER ☑☑No; FAR Part 6 does not provide any exclusion or exception that authorizes such action. Your customer has an urgent requirement for a new sensor. Technical and requirements personnel have provided data necessary to support using the exception at FAR 6.302-2 "Unusual and compelling urgency". Your customer requests a two-year period of performance. Does the exception allow you to award a contract with a two year period of performance? - ANSWER ☑☑No, unless the head of the agency determines that exceptional circumstances apply. While preparing an RFP, you are considering using either a fixed-price-incentive-firm (FPIF) or a cost- plus-incentive-fee (CPIF) contract type. Which contract type would a contractor most likely prefer from a profit/fee perspective? - ANSWER ☑☑FPIF, if the contractor wants to maximize its profit/fee potential. What is one of the main purposes of a Business Clearance (also known as a Review Board) briefing? - ANSWER ☑☑To gain approval from management to begin negotiations The Nanotech case study brought each of the following negotiation issues into play except: - ANSWER ☑☑. Follow-on options You are a government negotiator and are conducting an acquisition under FAR Part 15. During negotiations with the contractor, a discussion and back and forth exchange of a specific element of cost prompts the contractor to ask for your dollar position on this cost element. Not wanting to give up too much ground you recheck your analysis on the cost element and verbally communicate your low prediction interval calculation. This position represents ________. - ANSWER ☑☑a. an anchor for this cost element When using regression to test the causal/beneficial relationship of Nanotech's indirect G&A support expenses, it makes the most sense to use the historical ________________________. - ANSWER ☑☑b. G&A expense pool as the dependent variable and the associated G&A base as the independent variable. Under a cost reimbursement contract, if the contractor proposes six pieces of specialized equipment that would need to be purchased in order to complete a particular Government project, what happens if the Government agrees to the contractors' strategy to purchase these items as a direct charge to the contract? - ANSWER ☑☑The Government would acquire title since appropriated funds assigned to this contract were expended to pay for them Your customer has an urgent requirement for a new sensor. Technical and requirements personnel have provided data necessary to support using the exception at FAR 6.302-2 "Unusual and compelling urgency". Your customer requests a two-year period of performance. Does the exception allow you to award a contract with a two year period of performance? - ANSWER ☑☑No, unless the head of the agency determines that exceptional circumstances apply.