The Statement of Work (SOW) document is:

Select one:

A nonbinding legal document used to determine the legal responsibilities of the contractor

A definition of the contracted work for government contracts only

A narrative description of the work to be accomplished and/or the resource skills required

All of the above

None of the above

Question 2 Not yet answered Points out of 5.00 Not flaggedFlag question Question text Any effective change to the contract caused by the actions or inaction of personnel in authority, or by circumstances that cause a contractor to perform work differently than required by written contract is called:

Select one:

A constructive change.

Express warranty

Waiver

Quality control issue

Supplemental agreement.

Question 3 Not yet answered Points out of 5.00 Not flaggedFlag question Question text Reasons for termination for convenience of the customer include:

Select one:

Elimination of the requirement

Technological advances in the state-of-the-art

Budgetary changes

Anticipating profits not allowed

All of the above.

Question 4 Not yet answered Points out of 5.00 Not flaggedFlag question Question text The document that specifies measurable capabilities that the end product must achieve in terms of operational characteristics and places the risk of performance on the contractor is a:

Select one:

Design specificiation

Functional specification

Performance specification

Project specification

All of the above

Question 5 Not yet answered Points out of 5.00 Not flaggedFlag question Question text The Order of Precedence is:

Select one:

The document that specifies the order (priority) in which project documents will be used when it becomes necessary to resolve inconsistencies between project documents

The order in which project tasks should be accomplished

The relationship that project tasks have to one another

The ordered list (by quality) of the screened vendors for a project deliverable

None of the above

Question 6 Not yet answered Points out of 5.00 Not flaggedFlag question Question text Most contracts have certain basic elements in order to be legally binding. Which of the following is such an element?

Select one:

Mutual agreement

Consideration

Contract capacity

Legal purpose in form provided by law

All of the above

Question 7 Not yet answered Points out of 5.00 Not flaggedFlag question Question text In which type of contract arrangement is the contractor least likely to control costs?

Select one:

Cost plus percentage of cost.

Firm fixed price

Time and Materials

Fixed Price Incentive Fee

Firm fixed price with economic price adjustment

Question 8 Not yet answered Points out of 5.00 Not flaggedFlag question Question text Negotiation is when the price is determined through a bargaining process. In such a situation the customer may solicit through any of the following methods except:

Select one:

An RFI

A CPFF

An RFP

An RFQ

An IFB

Question 9 Not yet answered Points out of 5.00 Not flaggedFlag question Question text In which type of contract arrangement is the contractor most likely to control costs?

Select one:

Cost plus percentage of cost

Firm-fixed price

Time and Materials

All of the above

None of the above.

Question 10 Not yet answered Points out of 5.00 Not flaggedFlag question Question text Which type of contract arrangement is specifically designed to give a contractor relief for inflation or material/labor cost increases?

Select one:

Cost plus percentage of cost

Firm-fixed price with economic adjustment

Time and materials

All of the above.

None of the above.

Question 11 Not yet answered Points out of 5.00 Not flaggedFlag question Question text In a fixed-price incentive fee target, the "point of total assumption" refers to the point in the project cost curve where:

Select one:

The customer assumes responsibility for every additional dollar that is spent in fulfillment of the contract

The contractor assumes responsibility for every additional dollar that is spent in fulfillment of the contract

The price ceiling is reached

1 and 2

2 and 3

Question 12 Not yet answered Points out of 5.00 Not flaggedFlag question Question text A contract entered into after following normal procedures (i.e., negotiation of terms, conditions, cost, and schedule), but prior to initiation of performance is known as a:

Select one:

Definitive contract

Completed contract

Letter contract/letter of intent

Purchase order

Pricing arrangement

Question 13 Not yet answered Points out of 5.00 Not flaggedFlag question Question text An FFP contract should never be considered by the owner unless:

Select one:

the building requirements are known exactly.

the contractor's books are easily available for auditing.

Neither the contractor nor the project manager understand the scope of the task

The project manager's company has excess production capacity

All of the above

Question 14 Not yet answered Points out of 5.00 Not flaggedFlag question Question text Contract Closure is followed by Administrative Closure, which includes:

Select one:

Documenting the seller on their overall performance

Debriefing the seller on their overall performance

Performing a lessons learned review

All of the above

None of the above

Question 15 Not yet answered Points out of 5.00 Not flaggedFlag question Question text If a project manager requires the use of a piece of equipment, how many days must she rent the equipment before her costs are equal to the total costs of leasing the equipment?

Cost Categories

Renting Costs

Leasing Costs

Annual maintenance

$0.00

$3,000.00

Daily operation

$0.00

$70.00

Daily rental

$100.00

$0.00

Select one:

300 days

30 days

100 days

700 days

None of the above

Question 16 Not yet answered Points out of 5.00 Not flaggedFlag question Question text In which of the following extenuating circumstances would the agreement still be legally binding?

Select one:

The contract violates state law

The person who entered into the agreement cannot perform the work

There was no consideration (i.e., down payment) provided, although the contract required it

The agreement was not in writing

The contract did not reflect the contractor's legal obligation, or lack of obligation, to deliver end products.

Question 17 Not yet answered Points out of 5.00 Not flaggedFlag question Question text In which type of contract arrangement is the customer at the most risk of absorbing excessive cost overruns?

Select one:

Cost plus percentage of cost

Firm-fixed price

Time and Materials

Fixed-price-incentive-fee

None of the above

Question 18 Not yet answered Points out of 5.00 Not flaggedFlag question Question text Which of the following are reasons for termination for default due to a contractor's actions?

Select one:

Contractor fails to make delivery on scheduled date.

Contractor fails to make progress so as to endanger performance of the contract and its terms.

Contractor fails to perform any other provisions of the contract.

All of the above are reasons for termination for default.

1 and 2 only

Question 19 Not yet answered Points out of 5.00 Not flaggedFlag question Question text If the goods/services provided do not comply with the contract, then the contract administrator (project manager) has the right to:

Select one:

Reject the entire shipment.

Accept the entire shipment (barring latent defects).

Accept part of the shipment.

All of the above.

None of the above.

Question 20 Not yet answered Points out of 5.00 Not flaggedFlag question Question text Which of the following types of specifications gives measurable capabilities the end product must achieve in terms of operational characteristics?

Select one:

Functional specifications

Performance specifications

Conformance specifications

General specifications

Process capability specifications