$1.$Explain what a draft contract is$.$ Who should review the draft contract before is executed by all the parties?

$2.$ List the basic parts of a contract.

$3.$ Explain what an executed contract is$.$ Who should receive a copy of the executed contract?

$4.$ Describe some of the strategies that can be used to debrief unsuccessful suppliers.

$5.$ A Cost Plus Incentive Fee $($CPIF$)$ Contract has the following parameters:

Target Cost $=$ $$300,000$

Target Fee $=$ $$30,000$

Share Ratio $75/25\%$

Maximum Fee $=$ $$45,000$

Minimum Fee $=$ $$15,000$

The seller completes the work with the buyer's permission for an actual cost of $$320,000.$ No additional scope was added to the project. What is the fee the seller receives?

$6.$ A Cost Plus Incentive Fee $($CPIF$)$ contract has the following parameters:

Target Cost $=$ $$500,000$

Target Fee $=$ $$45,000$

Share Ratio $50/50\%$

Maximum Fee $=$ $$60,000$

Minimum Fee $=$ $$30,000$

The seller completes the work with the buyer's permission for an actual cost of $$450,000.$ No additional scope was added to the project. What is the final price paid that the seller receives?

$7.$ You have signed a Cost Plus Percentage Cost $($CPPC$)$ contract with a supplier to perform some work for you. The contract parameters include:

Estimated cost $=$ $$100,000$

Fee percentage $=10\%$

The supplier is able to complete the work for a cost of $$80,000.$ What is the final price paid to the supplier?