34 - the answer is C, Performance Specification, Here the performance specificat

Question

34 - the answer is C, Performance Specification, Here the performance specification specifies the measurable capabilities

35 - The answer is B - The contract would be given in following 1 requirement of the contract, 2) request for the bids 3)Ask for the work to be done 4) Award the contract after negotiations 5) Execute the contract.

36 - the answers is B - Firm fixed price - here the firm would control the cost by prefixing it.

37 - The answer is C - Time and Materials - here the contractor would have a liberty to use any material of his choice and use the time as per his needs. Here he could manipulate both factors.

38 - The answer is D - her the price would be adjusted acc to economic adjustments, here there is a potential risk of the contractor to absorb the costs overruns.

Explanation / Answer

33· The document that specifies measurable capabilities that the end product must achieve in terms of opetational characteristics and places the risk of performance on the contractor is a: a. Design specification b. Functional specification c. Performance specification d. Project specification e. All of the above 34 , which of the following is the correct order for the steps in the contracting process? a. Requisition cycle, requirement cycle, solicitation cycle, award cycle, contractual cycle b. Requirement cycle, requisition cycle, solicitation cycle, award cycle, contractual cycle c. Requirement cycle, requisition cycle, award cycle, solicitation cycle, contractual cycle d. Requisition cycle, requirement cycle, award cycle, solicitation cycle, contractual cycle e. Requirement cycle, requisition cycle, award cycle, contractual cycle, solicitation cycle 3S Which of the following contrace types would typically be used in a pure research and develop- ment type activity, while considering the needs of both the contractor and the customer? a. Cost plus percentage of cost contract b. Firm-fixed price c. Time and materials d. Purchase order e. Fisxed-price incentive firm targer 36 In which type of contract arrangement is the contractor least likely to control coss a. Cost plus percentage of cost b. Firm-fixed price c. Time and materials d. Purchase order e. Fixed-price incentive firm target 3t In which type of contract arrangement is the contractor most likely to control costs? a. Cost plus percentage of cost b. Firm-fixed price c. Time and materials d. Firm-fixed price with economic price adjustment e. Fixed-price incentive firm target 38. In which eype of contract arrangement is the contractior at the most risk of absorbing all cost overruns? a. Cost plus percentage of cost b. Firm-fixed price c. Time and materials d. Firm-fixed price with economic price adjustment e. Fixed-price incentive firm target

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