the private and the public sector want to acquire goods, management homework help

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Question 1 (1 point)

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Both the private and the public sector want to acquire goods and services at reasonable prices.

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Question 2 (1 point)

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Acquisition, technology, and logistics, also referred to as AT&L, is the community that fulfills agency needs by adjusting to changes in current technology and spending taxpayer dollars wisely in accordance with policy.

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Question 3 (1 point)

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Contracting has always been formal, and the relationship between the government and the contractor has always been a formal one.

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Question 4 (1 point)

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Historic legislation such as the Securities and Securities Exchange acts (1933 and 1934, respectively) have little to no influence on how the government currently conducts business with the private sector.

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Question 5 (1 point)

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Socioeconomic regulations can determine how sources are selected for soliciting, and, as a contracting professional, you may be required to set aside a percentage of contracts for small businesses only.

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Question 6 (1 point)

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If you were a contracting officer assigned to a military base, you would not handle contracts for pens, computers, janitorial services, or IT services for the base.

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Question 7 (1 point)

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All of the items below represent aspects of the private sector EXCEPT __________.

Question 7 options:

the profit motive

competition as a motivating factor

the best interests of taxpayers

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Question 8 (1 point)

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All of the items below influence the acquisition environment EXCEPT __________.

Question 8 options:

the private sector

technological improvements

congressional acts

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Question 9 (1 point)

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The primary role of contracting professionals is to purchase __________.

Question 9 options:

the right stuff, at the right price

the right stuff, using smart business arrangements

all of the above

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Question 10 (1 point)

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All of the following are Department of Defense (DoD) organizations EXCEPT __________.

Question 10 options:

the Children’s Defense Fund (CDF)

the Defense Logistics Agency (DLA)

the Defense Contract Management Agency (DCMA)

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Question 11 (1 point)

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All of the following are potential acquisition team members EXCEPT the __________.

Question 11 options:

program manager

HR analyst

financial manager

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Question 12 (1 point)

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Effective team-building requires the following:

Question 12 options:

team member competency

technology 

all of the above

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Question 13 (1 point)

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The generic decision-making and problem-solving model contains the following steps:

Question 13 options:

problem definition, core categorizing, and implementation

a and d

problem definition, analysis, selection, and implementation

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Question 14 (1 point)

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In order to make good business decisions, you must be able to apply different problem-solving techniques, including __________.

Question 14 options:

cause and effect consideration

the “five-why” process and force field analysis

all of the above

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Question 15 (1 point)

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__________ are important to the spearheading of change in the contracting workforce.

Question 15 options:

Trust, effective communication, and sharing of information

Motivation and direction

Trust and attention to detail

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Question 16 (1 point)

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If you were a contracting officer working for a defense agency, you would have to follow not only the Federal Acquisition Regulation (FAR), but the Defense Federal Acquisition Regulation Supplement (DFARS).

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Question 17 (1 point)

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According to FAR 1.102, “Participants in the acquisition process should work together as a team and should be empowered to make decisions within their areas of responsibility.”

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Question 18 (1 point)

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Effective communication skills are vital to your success as a team member, and they include facilitation, coaching, and feedback, but not listening.

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Question 19 (1 point)

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As you participate in acquisition teams, you will encounter various styles, personalities, and roles; it is important to know yourself in order to be an effective team member.

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Question 20 (1 point)

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Decision-making and problem-solving are intertwined and mutually supportive, and you cannot do one without the other.

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Question 21 (1 point)

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Two of the 11 principles for good leadership are to know oneself and seek self-improvement, and to be technically proficient.

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Question 22 (1 point)

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The Joint Ethics Regulation Ethical Values and Decision-Making Plan concerns itself with how people should behave and sets standards of conduct that rely primarily on __________.

Question 22 options:

the goals of decision-makers

the principles of honesty, integrity, and loyalty 

the principle of effective communication

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Question 23 (1 point)

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__________ is/are a strong indication of fraud, waste, and abuse.

Question 23 options:

Criminal behavior

Reporting errors/defective pricing

all of the above

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Question 24 (1 point)

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The preferred approach to meeting the needs of customers includes __________.

Question 24 options:

negotiation

the purchase of non-developmental and government-unique items

both a and c

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Question 25 (1 point)

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Which are key motivations for doing business with the government as a contractor?

Question 25 options:

fulfillment of public policy objectives

assurance of fairness and openness in business transactions

both b and c

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Question 26 (1 point)

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Tools used to manage risk include schedule-based incentives, cost-based incentives, supply-chain incentives, and __________.

Question 26 options:

performance-based incentives

firm incentives

disincentives

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Question 27 (1 point)

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The Joint Ethics Regulation (JER), which sets executive-branch standards that are objective, reasonable, and enforceable, applies only to military individuals assigned to a defense agency.

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Question 28 (1 point)

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The Government Accountability Office (GAO) is the investigative arm of Congress and is often referred to as the “congressional watchdog.”

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Question 29 (1 point)

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The DoD inspector general (IG) serves as an independent official in the DoD, but does not fulfill auditing functions.

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Question 30 (1 point)

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Commercial off-the-shelf (COTS) items are items that are sold, leased, licensed, or offered for sale in the commercial marketplace, and that are also offered for sale to the government without modification.

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Question 31 (1 point)

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Competition in the commercial marketplace provides the government with various sources to consider; as a buyer, you must find the best value, taking into account not just price, but other considerations.

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Question 32 (1 point)

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If market research reveals that there are no COTS, modified, or nondevelopmental items, you cannot make the purchase, because you cannot buy government-unique items.

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Question 33 (1 point)

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A win-win outcome of a negotiation occurs when the government obtains the best value possible, but the result for the contractor is an unfair price.

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Question 34 (1 point)

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The acquisition environment is influenced by such competing factors as the marketplace, the political arena, and the cultural and financial environment.

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Question 35 (1 point)

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Sources of federal procurement law include __________.

Question 35 options:

statutes, executive orders, and regulations

state bills

both a and b

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Question 36 (1 point)

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All of the following are contract law issues that can arise during contract performance EXCEPT __________.

Question 36 options:

claims
s

pre-award discussions

contract changes

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Question 37 (1 point)

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A contracting officer (CO) with actual authority can legally bind the government, and is tasked with ensuring that all necessary elements are included in the contract, including mutual assent, consideration, competency, lawful purpose, and certainty of terms, and in a form permitted by law.

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Question 38 (1 point)

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Common law, sovereign immunity, and civil versus criminal acts are the fundamental components of the legal process, and the Constitution is the foundation that defines the legal relationship of the federal government to state governments and individual citizens.

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Question 39 (1 point)

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FAR 33 defines a protest as a written agreement made by an interested party.

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Question 40 (1 point)

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Obligations are not legally binding commitments such as contract awards, made by federal agencies during a given period that will require outlays.

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Question 41 (1 point)

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Although the financial management community is made up of financial analysts, accountants, budget analysts, auditors, and payment specialists, the two most important individuals are the fund holders and the payment specialists, who provide and manage funding and ensure that contractors get paid on time.

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Question 42 (1 point)

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The following are all methods of procurement EXCEPT __________.

Question 42 options:

simplified acquisition procedures

contracting by negotiations 

sealed bidding

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Question 43 (1 point)

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In lieu of initiating a new contract, businesses can look to __________.

Question 43 options:

statutes and executive ordering agreements

indefinite-delivery contracts, agreements, a purchase card

both a and c

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Question 44 (1 point)

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The contracting process is broken into three phases: planning, execution, and assessment.

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