Con 3990 Exam Far Parts Study Guide Latest Updated

What is the objective of a source selection? {Ans: To select the proposal that represents the best value Feedback: See FAR 15.302}Disclosures {Ans: No person or other entity may disclose contractor bid or proposal information or source selection information to any person other than a person authorized, in accordance with applicable agency regulations or procedures, by the agency head or the contracting officer.}When a potential contractor is developing a proposal where cost analysis will be performed, the potential contractor will need to ensure it has excluded from the proposal any costs that are: {Ans: Expressly unallowable Feedback: See FAR 31.201-6}Who has the capacity to contract? {Ans: Of age, of sound mind, have the capacity to contract and understand the obligations, terms and conditions of the contract. Cannot have diminished capacity due to drugs or alcohol.}Which of the following is accurate about unilateral modifications? {Ans: Are only signed by a Government contracting officer, not the contractor Feedback: FAR 43.103(b)}Cost, quality and timeliness of products and services {Ans: 1. FAR 1.102-2(a) tells contracting professionals that a guiding principle is to satisfy customers in terms of cost, quality, and timeliness of the delivered product or service.}