3990 Exam Questions With Answer

Which of the following documents would the contracting officer use to document the purpose, description, and outcome of negotiations? {Ans: Price Negotiation Memorandum Feedback: See FAR 15.406-3(a)}FAR Part 50 {Ans: Extraordinary contractual actions and safety act}Commercial Items {Ans: A type of product customarily used by the general public. Government wants to drive acquisitions to commercial items... If an RA comes to you, attempt to guide them to a commercial solution. Can the non-commercial requirement be met with a commercial solution?}Quality assurance policies and procedures found in FAR part 46: {Ans: Apply to both the Government and contractor Feedback: See FAR 46.000}A contractor is developing their pricing strategy in a competitive environment. Knowing the required effort will result in follow-on contracts, the contractor submits an offer below anticipated costs with the plan to recover any losses by increasing the price on follow-on efforts. This pricing strategy is referred to as: {Ans: Buying-in Feedback: See FAR 3.501-1}Your customer comes to you anticipating a new requirement, one that has not been purchased recently. You'd like to refer them to the FAR part dealing specifically with market research. Which FAR part do you refer them to? {Ans: FAR