Question 1

A fixed fee that the seller will earn no matter how its performance is evaluated in known as:

Options :

A : incurred fee

B : award fee

C : period fee

D : base fee

Answer: D

Question 2

______________ is a key ingredient in solicitation planning and in the solicitation document to be developed.

Options :

A : systematic procedure

B : statement of work

C : standard forms

D : expert judgment

Answer: B

Question 3

Which of the following is NOT the risk analysis factor from the buyer's perspective?

Options :

A : Contract delivery schedule

B : Seller offers the lowest price technically acceptable

C : Contract performance period

D : Changing contract requirement

Answer: B

Question 4

The cost-plus-a-percentage-of-cost contract provides for the seller to receive reimbursement for its actual cost and a profit component, called __________, equal to some predetermined percentage of its actual costs.

Options :

A : fee

B : statement

C : penalty

D : None of the above

Answer: A

Question 5

A relationship between buyer and seller defined by an agreement about their respective rights and responsibilities is called:

Options :

A : Contract

B : Deal

C : Concurrence

D : Union

Answer: A