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FAC exam prep by FAR Parts 1-15 > FAR Part 2 Deck 1 > Flashcards

FAR Part 2 Deck 1 Flashcards

(128 cards)

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1
Q

What is the scope of Part 2 of the Federal Acquisition Regulation (FAR)?

A

Defines words and terms frequently used in the FAR and provides cross-references to other definitions

Incorporates definitions in solicitations and contracts by reference

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2
Q

What does the term ‘Acquisition’ mean in the context of FAR?

A

The acquiring by contract of supplies or services for the Federal Government, including all related processes

Begins at the point when agency needs are established

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3
Q

Define ‘Acquisition planning’.

A

The process of coordinating and integrating efforts of all personnel responsible for an acquisition through a comprehensive plan

Aims to fulfill agency needs in a timely manner and at reasonable cost

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4
Q

What is the meaning of ‘Activity Address Code (AAC)’?

A

A distinct six-position code assigned to identify specific agency offices or organizations

Assigned by the General Services Administration or the Department of Defense

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5
Q

What qualifies as ‘Adequate evidence’?

A

Information sufficient to support the reasonable belief that a particular act or omission has occurred

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6
Q

What are ‘Advisory and assistance services’?

A

Contracted services to support or improve organizational policy, management, and administration

Includes professional advice and assistance to improve Federal management processes

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7
Q

What does ‘Affiliates’ refer to?

A

Associated business concerns or individuals where one controls or can control the other

Includes definitions for specific contexts in FAR

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8
Q

Who is referred to as the ‘Agency head’?

A

The Secretary, Attorney General, Administrator, Governor, Chairperson, or chief official of an executive agency

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9
Q

What is an ‘Alternate’ in contract terms?

A

A substantive variation of a basic provision or clause prescribed for use in a defined circumstance

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10
Q

Define ‘Architect-engineer services’.

A

Professional services of architectural or engineering nature required to be performed by a licensed individual

Includes services related to real property development and design

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11
Q

What does ‘Assignment of claims’ mean?

A

The transfer of a contractor’s right to be paid by the Government as security for a loan

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12
Q

What is ‘Assisted acquisition’?

A

An interagency acquisition where a servicing agency performs acquisition activities on behalf of a requesting agency

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13
Q

What is ‘Basic research’?

A

Research aimed at increasing knowledge in science without a focus on practical application

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14
Q

What does ‘Best value’ refer to in acquisitions?

A

The expected outcome providing the greatest overall benefit in response to the requirement

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15
Q

What is a ‘Bid sample’?

A

A product sample required to be submitted by an offeror to show characteristics of the offered products

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16
Q

Define ‘Biobased product’.

A

A commercial product composed significantly of biological products as determined by the USDA

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17
Q

What is a ‘Broad agency announcement’?

A

A general announcement of an agency’s research interest soliciting participation from all capable offerors

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18
Q

What does ‘Building or work’ encompass?

A

Construction activity including buildings, structures, and improvements, excluding manufacturing or furnishing of materials

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19
Q

What is meant by ‘Bundling’ in contracts?

A

Combining two or more requirements into a single contract that is likely unsuitable for small business concerns

Factors include diversity, size, and geographical dispersion

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20
Q

What is a ‘Business unit’?

A

Any segment of an organization or an entire business organization that is not divided into segments

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21
Q

What constitutes ‘Certified cost or pricing data’?

A

Cost or pricing data required to be certified as accurate, complete, and current before contract award

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22
Q

What is a ‘Change-of-name agreement’?

A

A legal instrument recognizing the legal change of name of the contractor without disturbing original contractual rights

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23
Q

What is a ‘Change order’?

A

A written order directing the contractor to make a change authorized by the Changes clause

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24
Q

Who is the ‘Chief Acquisition Officer’?

A

An executive level acquisition official responsible for agency performance of acquisition activities

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25
What does 'Claim' refer to in contract terms?
A written demand for payment or adjustment of contract terms by one of the contracting parties
26
What is 'Classified acquisition'?
An acquisition requiring access to classified information for proper offer submission or contract performance
27
Define 'Classified contract'.
Any contract requiring contractor access to classified information during contract performance
28
What is 'Classified information'?
Knowledge or material that must be protected against unauthorized disclosure as per government regulations
29
What is a 'Cognizant Federal agency'?
The Federal agency responsible for establishing final indirect cost rates for contracts in a business unit
30
Define 'Combatant commander'.
The commander of a unified or specified combatant command established under U.S. law
31
What is a 'Commercial and Government Entity (CAGE) code'?
An identifier assigned to entities by the Defense Logistics Agency to identify commercial or government entities
32
What does 'Commercial computer software' refer to?
Any computer software that is a commercial product or service
33
What is a 'Commercial product'?
A product customarily used by the public or non-governmental entities and available for sale or lease
34
What is a commercial product?
A product that has been offered for sale, lease, or license to the general public.
35
What does 'minor modifications' refer to?
Modifications that do not significantly alter the nongovernmental function or essential physical characteristics of an item.
36
What is a nondevelopmental item?
An item developed exclusively at private expense and sold in substantial quantities to multiple governments.
37
Define commercial service.
Installation, maintenance, repair, training, and other services procured for support of a commercial product.
38
True or False: Catalog price refers to a price included in a catalog that is regularly maintained by the manufacturer.
True
39
What is a commercially available off-the-shelf (COTS) item?
An item sold in substantial quantities in the commercial marketplace and offered to the Government without modification.
40
Fill in the blank: A _______ means any item supplied to the Government as part of an end item or another component.
component
41
What does the term 'computer software' mean?
Computer programs that allow a computer to perform specific operations and recorded information enabling the program's creation.
42
What is the definition of 'contract'?
A mutually binding legal relationship obligating the seller to furnish supplies or services and the buyer to pay for them.
43
What is the role of a contracting officer?
A person with the authority to enter into, administer, and/or terminate contracts.
44
What does 'cost or pricing data' refer to?
All facts that prudent buyers and sellers would expect to affect price negotiations significantly.
45
What is meant by cost realism?
Costs in a proposal are realistic for the work to be performed and reflect a clear understanding of requirements.
46
Define 'contract modification'.
Any written change in the terms of a contract.
47
What does 'delivery order' mean?
An order for supplies placed against an established contract.
48
What is 'depreciation'?
A charge to current operations that distributes the cost of a tangible asset over its estimated useful life.
49
Fill in the blank: 'Design-to-cost' establishes cost elements as _______ to achieve balance between life-cycle cost and performance.
management goals
50
What is a 'disaster response registry'?
A voluntary registry of contractors willing to perform disaster or emergency relief activities.
51
What does 'contracting' encompass?
Purchasing, renting, leasing, or obtaining supplies or services from nonfederal sources.
52
What is meant by 'consolidation' in contracting?
A solicitation for a single contract to satisfy two or more requirements of a Federal agency.
53
What is a 'contingency operation'?
A military operation designated by the Secretary of Defense involving hostilities against an enemy.
54
True or False: 'Common item' refers to material that is unique to a contractor's specific work.
False
55
What is 'computer database'?
A collection of recorded information capable of being processed by a computer.
56
What does 'contracting activity' refer to?
An element of an agency designated by the agency head with authority regarding acquisition functions.
57
What does direct cost mean?
Any cost specifically identified with a particular final cost objective ## Footnote Direct costs include costs identified specifically with a contract or other final cost objectives of the contractor.
58
Define Disaster Response Registry.
A voluntary registry of contractors willing to perform disaster or emergency relief activities ## Footnote Established in accordance with 6 U.S.C. 796.
59
What is a drug-free workplace?
Site(s) where contractor employees are prohibited from engaging in unlawful substance activities.
60
What is an earned value management system?
A project management tool integrating project scope with cost, schedule, and performance elements.
61
What does economically disadvantaged women-owned small business (EDWOSB) concern refer to?
See definition of 'Women-Owned Small Business (WOSB) Program'.
62
What is the effective date of termination?
Date when the notice of termination requires the contractor to stop performance.
63
Define electronic commerce.
Electronic techniques for accomplishing business transactions.
64
What is electronic data interchange (EDI)?
Technique for electronically transferring formatted information between computers.
65
What does Electronic Funds Transfer (EFT) mean?
Transfer of funds initiated electronically for ordering or authorizing financial transactions.
66
What is an Electronic Funds Transfer (EFT) indicator?
A four-character suffix to the unique entity identifier for identifying alternative EFT accounts.
67
True or False: An emergency means any occasion requiring Federal assistance to save lives and protect property.
True
68
What does end product refer to?
Supplies delivered under a line item of a Government contract.
69
Define energy-efficient product.
A product meeting Energy Star criteria or in the upper 25 percent of efficiency.
70
What are energy-efficient standby power devices?
Products using no more than one watt of electricity in standby mode.
71
What is an energy savings performance contract?
Contract requiring contractor to implement energy conservation measures and guarantee savings.
72
What does environmentally preferable mean?
Having a lesser effect on human health and the environment compared to competing products.
73
What is excess personal property?
Personal property not required by a Federal agency for its needs.
74
Define executive agency.
An executive department, military department, or independent establishment as defined in 5 U.S.C.
75
What is facilities capital cost of money?
Cost of money as an element of the cost of facilities capital.
76
What is a Federal agency?
An executive agency or independent establishment in the legislative or judicial branch.
77
What are federally-controlled facilities?
Federally-owned buildings or leased spaces under jurisdiction of a Government department.
78
What is a federally-controlled information system?
An information system used or operated by a Federal agency or its contractor.
79
What are Federally Funded Research and Development Centers (FFRDCs)?
Activities sponsored by a Government agency for research and development receiving 70% funding from the Government.
80
What does the final indirect cost rate refer to?
Indirect cost rate agreed upon by the Government and contractor, not subject to change.
81
What is a first article?
Preproduction model, initial production sample, test sample, or pilot model.
82
Define first article testing.
Testing and evaluating the first article for conformance with contract requirements.
83
What does F.o.b. stand for?
Free on board.
84
What is f.o.b. destination?
Seller is responsible for shipping costs and risk until goods reach destination.
85
What is f.o.b. origin?
Buyer is responsible for shipping costs and risk once goods are placed on conveyance.
86
What is a forward pricing rate agreement?
Written agreement for contractor rates available during a specified period.
87
What does forward pricing rate recommendation mean?
Unilateral rate set by the administrative contracting officer for negotiations.
88
What does freight refer to?
Supplies, goods, and transportable property.
89
What is full and open competition?
All responsible sources are permitted to compete.
90
What does general and administrative (G&A) expense mean?
Management and other expenses incurred for general management of a business unit.
91
What is a Governmentwide acquisition contract (GWAC)?
Contract for information technology established for Governmentwide use.
92
What is the Governmentwide point of entry (GPE)?
Single point for accessing Government business opportunities over $25,000.
93
What does the head of the contracting activity refer to?
Official responsible for managing the contracting activity.
94
What is a historically black college or university?
An institution determined by the Secretary of Education to meet specific requirements.
95
What does HUBZone mean?
Historically underutilized business zone defined by specific geographic criteria.
96
What is a HUBZone contract?
Contract awarded to a certified HUBZone small business concern.
97
What does HUBZone small business concern refer to?
Small business certified by SBA as a HUBZone small business concern.
98
What is a humanitarian or peacekeeping operation?
Military operation supporting humanitarian assistance or peacekeeping.
99
What does 'in writing' mean?
Any worded or numbered expression that can be read, reproduced, and communicated.
100
What is an indirect cost?
Cost not directly identified with a single final cost objective.
101
What does indirect cost rate refer to?
Percentage expressing the ratio of indirect expense to direct labor cost.
102
What does ineligible mean?
Excluded from Government contracting pursuant to statutory or regulatory authority.
103
What does information and communication technology (ICT) encompass?
Systems for creating, manipulating, storing, and transmitting electronic data.
104
What is information security?
Protecting information systems from unauthorized access and disruptions.
105
What is the principal function of ICT?
The creation, manipulation, storage, display, receipt, or transmission of electronic data and information, as well as any associated content.
106
What does information security aim to protect?
Information and information systems from unauthorized access, use, disclosure, disruption, modification, or destruction.
107
Define integrity in the context of information security.
Guarding against improper information modification or destruction, ensuring information nonrepudiation and authenticity.
108
What is meant by confidentiality in information security?
Preserving authorized restrictions on access and disclosure, including means for protecting personal privacy and proprietary information.
109
What does availability refer to in information security?
Ensuring timely and reliable access to, and use of, information.
110
What is the definition of information technology?
Any equipment, or interconnected system(s) or subsystem(s) of equipment, used in the automatic acquisition, storage, analysis, evaluation, manipulation, management, movement, control, display, switching, interchange, transmission, or reception of data or information.
111
What is included in the term 'information technology'?
Computers, ancillary equipment, peripheral equipment, software, firmware, services, and related resources.
112
What is excluded from the definition of information technology?
Equipment acquired by a contractor incidental to a contract or equipment where information technology is integral but not the principal function.
113
What is an inherently governmental function?
A function so intimately related to the public interest that it mandates performance by Government employees.
114
List activities that qualify as inherently governmental functions.
* Exercise of discretion in applying Government authority * Making value judgments for the Government * Interpretation and execution of laws * Binding the U.S. to actions * Protecting U.S. interests * Exerting control over property and funds
115
What does inspection mean in the context of procurement?
Examining and testing supplies or services to determine conformity to contract requirements.
116
Define insurance in a procurement context.
A contract that indemnifies another against loss, damage, or liability arising from an unknown or contingent event.
117
What is interagency acquisition?
A procedure by which an agency obtains supplies or services from another agency.
118
What is an invoice?
A contractor’s bill or written request for payment under the contract for supplies delivered or services performed.
119
What is an irrevocable letter of credit?
A written commitment by a federally insured financial institution to pay a stated amount upon the Government's presentation of a written demand.
120
What is a labor surplus area?
A geographical area identified by the Department of Labor as having concentrated unemployment or underemployment.
121
What does a labor surplus area concern mean?
A concern that, together with its first-tier subcontractors, performs substantially in labor surplus areas.
122
What is a latent defect?
A defect that exists at the time of acceptance but cannot be discovered by reasonable inspection.
123
What is a line item in procurement?
The basic structural element in a procurement instrument that describes and organizes the required product or service.
124
What does the term 'major disaster' refer to?
Any natural catastrophe or significant event causing damage warranting major disaster assistance under the Stafford Act.
125
What constitutes a major system?
A combination of elements functioning together to fulfill a mission need, with specific cost thresholds.
126
What is a make-or-buy program?
Part of a contractor’s written plan identifying major items to be produced in-house versus subcontracted.
127
Define manufactured end product.
Any end product in product and service codes (PSC) 1000-9999, excluding specific PSCs listed.
128
What is market research?
Collecting and analyzing information about capabilities within the market to satisfy agency needs.

FAC exam prep by FAR Parts 1-15 (25 decks)

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