Business Finance
Villanova University - Federal Contract Management Certification Program

Question Description

I need an explanation for this Business question to help me study.

1. Question:Performance measurement of systems being acquired

A

Is the only allowable source of information that can be used

B

Provides detailed technical performance measurement

C

Is used to analyze results

D

Is used to analyze on-going status

2. Question:Major system procurements by the government span many years. Acquisition planning should begin

A

When a purchase request is first entered into an agency system so that appropriations debates can ensue

B

When the requiring entity or end user develops an acceptable, specific Statement of Work

C

When the agency first identifies a real or potential need for supplies or services

D

When the annual appropriations are established for the year preceding the current need

3. Question:What is a consequence of duplicate requirements in a performance-based statement of work?

A

Duplicate effort may be performed

B

Change management will be more difficult

C

Importance of requirement is weakened

D

Importance of requirement is optimized

4. Question:What is the fundamental decision that an agency must make in operational decisions?

A

What should the budget request be?

B

Make or Buy?

C

What is the agency mission?

D

Compliance with regulations

5. Question:The Davis Bacon Act, the Walsh-Healy Act, and the Service Contract Act are all:

A

Acts outlining documentation

B

Wage and hour laws

C

Safety in the workplace laws

D

Drug-free workplace laws

 

6. Question:Requirements and mission for an agency can be added

A

At levels above the agency

B

In Congressional committees

C

Both A and B

D

Neither A nor B

7. Question:The fiscal goal of an agency is to

A

Return excess and unobligated funds to the U. S. Treasury

B

Apply excess and unobligated funds to following years requirements

C

Over-expend funds

D

Expend all of the funds budgeted

8. Question:The Defense Contract Management Agency (DCMA) formally Defense Contract Management Command (DCMC) is responsible for performing contract administration services related to: (Select all that apply)

A

Quality

B

Timeliness

C

Procurement systems

D

Acceptability

E

Shipping and receiving

F

Financial management

9. Question:The Joint Conference for Appropriations

A

Can raise the amount appropriated above either house's bill

B

Can lower the amount appropriated below either house's bill

C

Can settle on an appropriation amount between the two house's upper and lower limits

D

Must take one or the other house positions

10. Question:A "Performance Based Statement of Work" includes a

A

Mission Analysis

B

Quality Plan

C

Requirements Analysis

D

All of the above

11. Question:Federal agencies’ requirements are mostly

A

Technology-based

B

Needs-based

C

Mission-based

D

Budget-driven

12. Question:Which of the following is the government official who heads the U.S. General Accounting Office and who is responsible for overseeing the federal procurement process?

A

Comptroller General of the United States

B

Director of Office of Federal Procurement Policy

C

Chief of Staff

D

Secretary of Defense

13. Question:The key output of the Federal Procurement Data System is:

A

An annual report to Congress

B

A catalog of items that the government should purchase during the next fiscal year

C

A list of specifications that businesses must meet before they are awarded government contracts

D

A prediction of tax revenue available for expenditure

14. Question:Which of the following is the basic set of regulations governing federal procurement establishing

  uniform policies and procedures to be used by federal executive agencies when making acquisitions?

A

Federal Acquisition Circulars

B

Federal Procurement Regulations

C

Defense and Civilian Agency Acquisition Councils

D

Federal Acquisition Regulation

15. Question:In requirements statements, the use of adjectives to describe performance requirements is

A

Creating vague requirements

B

Providing additional guidance

C

Clarifying inspectors role

D

Providing an audit trail

16. Question:A performance-based statement of work should trace back to the agency mission.

A

True

B

False

17. Question:In a quality assurance plan, it is permissible to

A

Allow contractor self-certification

B

Develop new test standards

C

Test to higher standards

D

Direct changes based on test results

18. Question:The Small Business Administration was created to:

A

Encourage large prime contractors to subcontract with smaller businesses

B

Prevent small businesses from competing for government contracts they could not fulfill

C

Combat corrupt government dealings with small businesses

D

Reduce bureaucracy related to government contracting

19. Question:The key government employee having the authority to enter into, administer, and terminate

  contracts and to make related determinations and findings on behalf of the government is the:

A

Director of Contract Appeals

B

Contracting Officer's Representative

C

Contracting Officer

D

Executive Department General Accountant

20. Question:The 8(a) program benefits small businesses by:

A

Providing them with technical assistance

B

Having the government contract as their prime

C

Providing them with equipment

D

All of the above


Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Smartbrains (326)
Purdue University

Anonymous
Top quality work from this tutor! I’ll be back!

Anonymous
Heard about Studypool for a while and finally tried it. Glad I did caus this was really helpful.

Anonymous
Thank you! Reasonably priced given the quality

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4