EPA
This contract type provides for upward and downward revision of the stated contract price upon the occurrence of specified contingencies.
What are Fixed-price contracts with economic price adjustment?
FAR 16.203-1(a)
When issued by the Government, means an offer by the Government to buy supplies or services, including construction and research and development, upon specified terms and conditions, using simplified acquisition procedures.
What is a Purchase Order?
FAR 2.101
Is the process of examining and evaluating a proposed price without evaluating its separate cost elements and proposed profit.
What is Price Analysis?
FAR 15.404(b)(1)
The following are examples of these under the new FAC-C (P) certification:
Acquisition Law & Policy
Advanced Contingency Contracting
Contract Administration Special Topics
What are Defense Acquisition Credentials?
To deliver acquisition excellence through timely and quality contracts and world-class acquisition service.
What is QMA's Mission?
Per the GSAM, the contracting officer and the contractor shall agree on the economic price adjustment prior to this event.
What is prior to the completion of negotiations? (will also accept prior to award)
GSAM 516.203-2(b)(2)-(b)(3)
Means collecting and analyzing information about capabilities within the market to satisfy agency needs.
What is Market Research?
FAR 2.101
Although orders placed off Federal Supply Schedules generally include pricing that has already been determined fair and reasonable (F&R), the ordering procedures for services requiring a statement of work require the ordering activity to consider these two things in order to determine that the total price is reasonable.
What are the Level of Effort and the Mix of Labor proposed to perform a specific task being ordered?
FAR 8.405-2(d)
DoD's "Back-to-Basics" includes these 6 functional areas.
What are:
1) Auditing
2) Business-Financial Management and Cost Estimating
3) Contracting
4) Engineering and Technical Management
5) Life Cycle Logistics
6) Program Management
These are the two primary Source Selection processes discussed in FAR Part 15.
What are the Tradeoff process and the LPTA process?
FAR Subpart 15.1
This Acquisition Letter established temporary flexibility on limitations on price increases in addition to a temporary moratorium on the enforcement of a number of limitations contained in certain GSA EPA contract clauses.
What is Acquisition Letter MV-22-02?
Means a response to a solicitation that, if accepted, would bind the offeror to perform the resultant contract.
What is an Offer?
FAR 2.101
According to FAR Part 15, these are the two preferred techniques for Price Analysis.
What are: 1) Comparison of proposed prices received in response to the solicitation. 2) Comparison of the proposed prices to historical prices paid, whether by the Government or other than the Government, for the same or similar items.
FAR 15.404-1(b)(2) and FAR 15.404-1(b)(3)
These 4 core courses are required to be completed before earning the new FAC-C (Professional) certification.
What are:
CON 1100 (Guiding Principles)
CON 1200 (Pre-Award)
CON 1300 (Award)
CON 1400 (Post-Award)
https://www.fai.gov/certification/fac-c/new-fac-c-professional
The following sentences describe this term.
In FAR Part 14, to be considered for award, a bid must comply in all material respects with the invitation for bids. Such compliance enables bidders to stand on an equal footing and maintain the integrity of the sealed bidding system.
What is responsiveness?
What is on or before the expiration date of the AL?
https://docs.google.com/document/d/1ajVoJIrvyB6TcuDJrhOAPfnv1HKlB1x9BBF_RUDpp2E/edit
Means cost plus any fee or profit applicable to the contract type.
What is price?
FAR 15.401
FAR Part 13 requires COs to determine that proposed prices are fair and reasonable (F&R) prior to award. List 2 techniques mentioned in this FAR Part to determine prices are F&R when only 1 response is received.
What are: 1) Current price lists, 2) Market Research, 3) Comparison of proposed price w/ prices found F&R on previous purchases, 4) Comparison with similar items in a related industry, 5) CO's personal knowledge, 6) Comparison to IGCE, 7) ANY OTHER REASONABLE BASIS
FAR 13.106-3(a)(2)
According to HRM 9410.1C, employees must submit this form to request training that imposes a direct cost to GSA.
What is an SF182?
9410.1C HRM GSA Workforce Learning and Development Policy
Insite>Directives Library>GSA Workforce Learning and Development Policy
An actual or prospective offeror whose direct economic interest would be affected by the award of a contract or by the failure to award a contract.
What is an interested party?
FAR 33.101
According to the FAR, Economic price adjustments are of these three general types.
What are: 1) Adjustments based on established prices , 2) Adjustments based on actual costs of labor or material, and 3) Adjustments based on cost indexes of labor or material.
FAR 16.203-1(a)
Means a price that:
1) Is an established catalog or market price for a commercial product sold in substantial quantities to the general public; and
2) Is the net price after applying any standard trade discounts offered by the contractor.
What is an Established Price?
FAR 16.001
FAR Part 15 lists 7 price analysis techniques, list two other than the two preferred techniques.
What are: 1) Parametric estimating, 2) Comparison with competitive published price lists, 3)Comparison of proposed prices with prices obtained through market research, 4) Comparison of proposed prices with IGCE, 5) Analysis of data other than certified cost or pricing data provided by the offer.
Effective May 1, 2024, (the start of the next common period) the continuous learning hours required to maintain the FAC-C (Professional) will increase to ____ for every two-year common period.
What is 100 hours?
https://www.fai.gov/certification/fac-c/new-fac-c-professional
This contract type provides no positive profit incentive to the contractor for cost control or labor efficiency.
What is a time-and-materials (T&M) contract?
FAR 16.601(c)(1)