Question 1 1 points Save
With a pink team review:
the project proposal is scrutinized early in the proposal development effort by a panel of people who play the role of customers
project pricing is carefully examined by pricing experts
the project proposal is scrutinized late in the proposal development effort by a panel of people who play the role of customers
buyers make a preliminary decision on which bid should be granted a contract
Question 2 1 points Save
When an employee produces an invention as part of her job:
ownership of the patent for the invention is assigned to the employer
her employer is designated both as inventor and patent owner because she used company resources and time to produce the invention
her employer is given a compensatory title as the inventor
ownership of the patent for the invention is assigned to her
Question 3 1 points Save
In contracting, change control focuses on:
buyer generated changes
changes triggered by events in the environment
contractor generated changes
changes to the contract scope coming from any source
Question 4 1 points Save
With performance work statements, attention focuses on defining outcomes.
Question 5 1 points Save
Indefinite delivery contracts are employed:
on high risk contracts
on low risk contracts
when the buyer does not know how many items he/she needs
when the seller is not sure how much should be charged for contracted work
Question 6 1 points Save
To protect the intellectual property of the buyer, a contractor is typically made to sign a:
Conflict of interest agreement
An indemnity bond
Question 7 1 points Save
A proposal that reflects the seller’s best and final offer is typically associated with a:
Request for Proposal (RFP)
Request for Quotation (RFQ)
Invitation for Bid (IFB)
Cost Plus Fixed Fee (CPFF) contract
Question 8 1 points Save
Requirements addressing technical issues stated in non-technical terms are called
statement of work
Question 9 1 points Save
The fair use principle allows reasonable use of copyrighted material only after permission has been obtained from the copyright owner.
Question 10 1 points Save
Buyers use SOWs to express their requirements.
Question 11 1 points Save
To ensure efficiency in contract administration, administrative closure activities should be delayed until project completion.
Question 12 1 points Save
What is the purpose of the bidders’ conference?
To enable the buyer to interact with successful bidders
To enable management to review bids that have been received by the buyer
To enable the buyer to negotiate price with successful bidders
To enable the buyer to meet with prospective sellers prior to preparation of a proposal to ensure that all prospective sellers have a clear, common understanding of the procurement
Question 13 1 points Save
Collection of a down payment fee in technology licensing is used when:
dealing with a licensee who is not economically sound
it is difficult to access the licensee’s “honest” books
dealing with exclusive license contracts
dealing with non-exclusive license contracts
Question 14 1 points Save
A significant objective of the cost-as-an-independent-variable (CAIV) perspective is to:
assure all technical requirements have been met
develop a quantitative model of project costs
make sure that a high quality deliverable is produced at any cost
reduce the total operating cost (TOC) associated with programs
Question 15 1 points Save
Grant-back provisions in a licensing agreement require that improvements the licensee makes to a licensed technology revert back to the licensor.
Question 16 1 points Save
The cost-as-an-independent-variable sees cost as the key project driver.
Question 17 1 points Save
Under what conditions is an RFQ an appropriate mode of solicitation?
When dealing with state-of-art efforts
When goods and services are already defined
When an award fee can be identified
When dealing with non-routine efforts
Question 18 1 points Save
RFPs are prepared at the solicitation planning stage.
Question 19 1 points Save
Which of the following contracting concepts is not associated with competitive procurements?
Sole source bid
Question 20 1 points Save
Proposals coming from contractors who have unique skills in providing goods and services are called:
best and final offers (BAFOs)
sole source proposals
Question 21 1 points Save
Which of the following roles may the staff of a modern project support office play in contract management?
Has no role to play
Negotiates detailed contract terms and conditions
Conducts risk assessment of a proposed project that an organization wants to bid on
Question 22 1 points Save
Which of the following is not a typical criterion employed to identify winning contracts?
Effectiveness of the work plan
Political orientation of bidders
Question 23 1 points Save
What function does a level of effort SOW perform?
It establishes a high level listing of specifications that a contract should address
It defines the dollar value of project scope
It identifies work that needs to be done and the anticipated person-days (or hours, or years) of effort associated with the work effort
It establishes a detailed listing of specifications that a contract should address
Question 24 1 points Save
Buybacks are a form of remuneration for licensing by which the licensor buys back stock shares in the licensee’s business.
Question 25 1 points Save
Contracts should not close out until final user acceptance tests (UATs) are conducted.
Question 26 1 points Save
Performance-based contracts focus on:
how the deliverable should be produced
what should be produced
Question 27 1 points Save
Performance-based payments on contracts are tied to the achievement of well-defined milestones.
Question 28 1 points Save
In submitting proposals in response to an RFP, it is important that the bidder provides the following kinds of information: who will carry out the effort, what the bidder’s capabilities are, and how much it will cost to engage in the proposed effort.
Question 29 1 points Save
Under a Cost Plus Incentive Fee (CPIF) contract, company XYZ has agreed to pay ABC contracting company an incentive fee of 20% for any cost savings that will be realized under the contract. Given the following information, calculate the final price of the contract.
Estimated cost: $200,000
Negotiated Fee: $25,000
Incentive Payment: 20% of cost savings
Actual cost: $180,000
Question 30 1 points Save
Contractnegotiation involves clarification and establishing mutual agreement between buyer and seller on the structure and requirements of the contract prior to the signing of the agreement.
Question 31 1 points Save
A contract selection technique that is used heavily when making contract and grant awards in the sciences, and that depends on outside experts ranking proposals, is called:
Buss’s ranking technique
poor man’s hierarchy
Question 32 1 points Save
An advantage of the Cost Plus Fixed Fee (CPFF) contract is that:
the buyer faces no risk of cost overrun
it prevents schedule slippage
the seller loses through cost overruns
the buyer can attract higher quality sellers
Question 33 1 points Save
From a licensee’s perspective, technology licensing is attractive because it:
has few legal issues to contend with
provides opportunities for the licensee’s employees to learn new technology skills
promotes initiative in the use of a superior technology
reduces dependence on the licensor
Question 34 1 points Save
In contracting, the term “volunteerism” refers to the situation where:
contractors do not charge buyers for change requests
contracts are carried out on behalf of non-profit organizations
team members agree to work on a contract without pay
buyers “forgive” small instances of poor contractor performance
Question 35 1 points Save
One of the key characteristics of the Cost Plus Award Fee (CPAF) contract is that:
it offers the buyer no leverage in dealing with sellers
bonus payments are made to sellers based on subjective judgments about project performance
buyers face no risk of cost overruns
there is no explicit payment of additional fees
Question 36 1 points Save
Which of the following is a tool that is used for performance measurement in contracting?
Contractor technical capability analysis
Earned value estimates
The Peter Principle
Resource leveling analysis
Question 37 1 points Save
In contract and procurement management, data rights means:
data developed in conjunction with project execution explicitly becomes the property of either the buyer or seller (or possibly both)
once an RFP has been issued, the seller is under no obligation to provide additional information relating to the acquisition
all communication between the buyer’s Contracting officer and a prospective contractor must be disclosed to all other prospective contractors
all communication between the buyer’s Contracting officer and a prospective contractor should not be disclosed to other prospective contractors
Question 38 1 points Save
Who bears most risk in a cost reimbursable contract?
Seller and general public
Buyer and seller bear equal risk
Question 39 1 points Save
Quality control is an aspect of contract administration.
Question 40 1 points Save
The acceptable quality level (AQL)
defines the minimum acceptable performance of a requirement
is a key component of the statement of work
must lie within 3-sigma of the mean
goes against the basic precepts of quality management, since it focuses only on what is acceptable and not on what is best
Question 41 1 points Save
Which of the following is not a cost reimbursable contract?
Cost Plus Fixed Fee contract
Time and Materials contract
Cost Plus Incentive Fee contract
Firm fixed price contract
Question 42 1 points Save
Work for hire refers to work produced by employees and contractors within the scope of their employment contract.
Question 43 1 points Save
An e-Business company has contracted the services of three consultancy firms to help install its newly acquired enterprise resource planning (ERP) technology. Which of the following can be used to distinguish one consultancy firm from the other?
Question 44 1 points Save
Contract administration refers to:
preparing and issuing Requests for Proposal (RFPs)
administering the contract negotiation process
administering the source selection process
the process of ensuring that the contractor’s performance meets contractual requirements
Question 45 1 points Save
Three critical components of performance based contracting are:
the PWS, AQL, and outcomes analysis
identical to the critical components of activity based costing
the PWS, QAP, and outcomes analysis
the PWS, QAP, and positive/negative incentives
Question 46 1 points Save
An exclusive license is most appropriate:
when a small investment is needed to use a technology
for unique technologies
only in the traditional industries
for routine technologies
Question 47 1 points Save
Which of the following is an activity at the source selection stage?
Evaluation of the contracting firm’s qualifications
Project baseline verification
Measuring work performance
Question 48 1 points Save
Which of the following is an example of a situation for which Fixed Price contracts are most appropriate?
Production of high risk deliverables
One-of-a kind projects
Production of routine deliverables
Question 49 1 points Save
A statement of objective (SOO) is:
the same as statement of work
a high level description of what the buyer hopes to gain from the deliverable
the same as RFQ
the same as IFB
Question 50 1 points Save
Unauthorized use of a trademark is called piracy.
Question 51 1 points Save
At its simplest, acquisition management can be viewed as:
operations management plus contract management
project management plus operations management
inventory management plus contract management
project management plus contract management
Question 52 1 points Save
In a contractual agreement, where two or more players develop a new technology, by law the state assumes ownership of the patent of the technology on behalf of the players to avoid future conflicts between them.
Question 53 1 points Save
An important function of benefit-cost analysis is that it allows us to prioritize bids to see which are worthy of winning a contract award.
Question 54 1 points Save
The Universal Copyright Convention extends copyright protection to translations of copyrighted works into foreign languages.
Question 55 1 points Save
Procurement planning involves selection of a suitable contractor to execute a project.
Question 56 1 points Save
The process of identifying and articulating the buyer’s needs is part of a process that immediately leads to:
WBS dictionary development
Question 57 1 points Save
A difference between an RFP and an IFB is that with an RFP:
the objective is to request quotations
a request is made for bids whose terms eventually may be negotiated
there may be no negotiations between buyer and supplier
sealed bids are tendered and opened publicly at one time
Question 58 1 points Save
Under a tie-in clause in a licensing agreement, the licensee is required to obtain complementary or competing technology from other sources to tie in with that obtained from the licensor.
Question 59 1 points Save
When shipping a proposal to a client in response to a solicitation, it is a good idea to obtain a time-stamped receipt, indicating at what time the proposal arrived at the client’s site.
Question 60 1 points Save
In contracting, the term “boilerplate” refers to:
Contingency reserves that are built into contracts to deal with known unknowns
Written material that can be used over and over again on
proposals and contracts
Penalties directed against contractors who fail to perform according to contractual requirements
Penalties directed against buyers who fail to meet their
Question 61 1 points Save
Which of the following items is not a contract monitoring activity?
Conducting user acceptance tests (UATs)
Reviewing the contractor’s profit and loss statements
Reviewing contractor progress reports
Question 62 1 points Save
The value of a trademark depends on:
the perceived quality of the trademarked good
who the founder of the company that holds the trade mark is
the aesthetic beauty of the trademark
Question 63 1 points Save
Copyright law protects:
the content of an idea
the expression of an idea
the content and expression of an idea
patents and content of an idea
Question 64 1 points Save
The basic objective of procurement planning is to:
manage relationships with the seller
determine what to procure and when
choose from potential sellers
Question 65 1 points Save
Rapid prototyping is a technique geared to
identifying customer requirements
developing deliverables as quickly as possible
maintaining spare parts for complex systems
building small deliverables