ASCM 626 Purchasing and Materials Management Week 10 Final Exam Answer

ASCM 626 Purchasing and Materials Management Week 10 Final Exam Answer

Both the private and the public sector want to acquire goods and services at reasonable prices.
Question 1 options:

Question 2 (1 point)

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.
Question 2 options:

Question 3 (1 point)

Contracting has always been formal, and the relationship between the government and the contractor has always been a formal one.
Question 3 options:

Question 4 (1 point)

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.
Question 4 options:

Question 5 (1 point)

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.
Question 5 options:

Question 6 (1 point)

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.
Question 6 options:

Question 7 (1 point)

All of the items below represent aspects of the private sector EXCEPT __________.
Question 7 options:
the best interests of stockholders
the profit motive
competition as a motivating factor
the best interests of taxpayers

Question 8 (1 point)

All of the items below influence the acquisition environment EXCEPT __________.
Question 8 options:
national and world events
the private sector
technological improvements
congressional acts

Question 9 (1 point)

The primary role of contracting professionals is to purchase __________.
Question 9 options:
the right stuff, delivered at the right time
the right stuff, at the right price
the right stuff, using smart business arrangements
all of the above

Question 10 (1 point)

All of the following are Department of Defense (DoD) organizations EXCEPT __________.
Question 10 options:
the U.S. Army, Navy, Marine Corps, and Air Force
the Children’s Defense Fund (CDF)
the Defense Logistics Agency (DLA)
the Defense Contract Management Agency (DCMA)

Question 11 (1 point)

All of the following are potential acquisition team members EXCEPT the __________.
Question 11 options:
end user/customer
program manager
HR analyst
financial manager

Question 12 (1 point)

Effective team-building requires the following:
Question 12 options:
leadership, skill mix, shared vision, and support
team member competency
all of the above

Question 13 (1 point)

The generic decision-making and problem-solving model contains the following steps:
Question 13 options:
problem definition, problem recreation, and problem-solving
problem definition, core categorizing, and implementation
a and d
problem definition, analysis, selection, and implementation

Question 14 (1 point)

In order to make good business decisions, you must be able to apply different problem-solving techniques, including __________.
Question 14 options:
problem statement and brainstorming
cause and effect consideration
the “five-why” process and force field analysis
all of the above

Question 15 (1 point)

__________ are important to the spearheading of change in the contracting workforce.
Question 15 options:
Professionalism and knowing your organization
Trust, effective communication, and sharing of information
Motivation and direction
Trust and attention to detail

Question 16 (1 point)

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).
Question 16 options:

Question 17 (1 point)

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.”
Question 17 options:

Question 18 (1 point)

Effective communication skills are vital to your success as a team member, and they include facilitation, coaching, and feedback, but not listening.
Question 18 options:

Question 19 (1 point)

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.
Question 19 options:

Question 20 (1 point)

Decision-making and problem-solving are intertwined and mutually supportive, and you cannot do one without the other.
Question 20 options:

Question 21 (1 point)

Two of the 11 principles for good leadership are to know oneself and seek self-improvement, and to be technically proficient.
Question 21 options:

Question 22 (1 point)

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:
actual situations of decision-making
the goals of decision-makers
the principles of honesty, integrity, and loyalty
the principle of effective communication

Question 23 (1 point)

__________ is/are a strong indication of fraud, waste, and abuse.
Question 23 options:
Missing receipts
Criminal behavior
Reporting errors/defective pricing
all of the above

Question 24 (1 point)

The preferred approach to meeting the needs of customers includes __________.
Question 24 options:
the purchase of commercial off-the-shelf (COTS) items with minor modifications
the purchase of non-developmental and government-unique items
both a and c

Question 25 (1 point)

Which are key motivations for doing business with the government as a contractor?
Question 25 options:
profitability and improved market share and image
fulfillment of public policy objectives
assurance of fairness and openness in business transactions
both b and c

Question 26 (1 point)

Tools used to manage risk include schedule-based incentives, cost-based incentives, supply-chain incentives, and __________.
Question 26 options:
nonconforming incentives
performance-based incentives
firm incentives

Question 27 (1 point)

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.
Question 27 options:

Question 28 (1 point)

The Government Accountability Office (GAO) is the investigative arm of Congress and is often referred to as the “congressional watchdog.”
Question 28 options:

Question 29 (1 point)

The DoD inspector general (IG) serves as an independent official in the DoD, but does not fulfill auditing functions.
Question 29 options:

Question 30 (1 point)

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.
Question 30 options:

Question 31 (1 point)

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.
Question 31 options:

Question 32 (1 point)

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.
Question 32 options:

Question 33 (1 point)

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.
Question 33 options:

Question 34 (1 point)

The acquisition environment is influenced by such competing factors as the marketplace, the political arena, and the cultural and financial environment.
Question 34 options:

Question 35 (1 point)

Sources of federal procurement law include __________.
Question 35 options:
public policy
statutes, executive orders, and regulations
state bills
both a and b

Question 36 (1 point)

All of the following are contract law issues that can arise during contract performance EXCEPT __________.
Question 36 options:
disputes of contract language
pre-award discussions
contract changes

Question 37 (1 point)

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.
Question 37 options:

Question 38 (1 point)

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.
Question 38 options:

Question 39 (1 point)

FAR 33 defines a protest as a written agreement made by an interested party.
Question 39 options:

Question 40 (1 point)

Obligations are not legally binding commitments such as contract awards, made by federal agencies during a given period that will require outlays.
Question 40 options:

Question 41 (1 point)

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.
Question 41 options:

Question 42 (1 point)

The following are all methods of procurement EXCEPT __________.
Question 42 options:
source selection
simplified acquisition procedures
contracting by negotiations
sealed bidding

Question 43 (1 point)

In lieu of initiating a new contract, businesses can look to __________.
Question 43 options:
required sources, the Economy Act, and General Services Administration (GSA) schedules
statutes and executive ordering agreements
indefinite-delivery contracts, agreements, a purchase card
both a and c

Question 44 (1 point)

The contracting process is broken into three phases: planning, execution, and assessment.
Question 44 options:

Question 45 (1 point)

The Integrated Acquisition Environment (IAE) was established to facilitate cost-effective acquisition, but it doesn’t focus on current inefficiencies in acquisition.
Question 45 options:

Question 46 (1 point)

Contracts are grouped into two broad categories: fixed-price contracts and cost-reimbursement contracts.
Question 46 options:

Question 47 (1 point)

E-business has benefits such as the elimination of duplication of effort; however, it also faces the challenge of constant change in the technical environment.
Question 47 options:

Question 48 (1 point)

Pricing/competition, historical data, subcontracting, and concurrent contracts are some of the factors to be considered when initiating a new contract.
Question 48 options:

Question 49 (1 point)

If a contracting officer uses the wrong fiscal year funding, he or she has violated the __________.
Question 49 options:
Antideficiency Act
Bona Fide Needs Rule
Misappropriation Act
both a and b

Question 50 (1 point)

All of the items below are types of appropriations EXCEPT __________.
Question 50 options:
procurement and operation and maintenance
research, development, test, and evaluation
military personnel and military construction

Question 51 (1 point)

E-business is any business process powered by an information system, whereas e-government is a phenomenon that provides funding for e-government initiatives and mandates cross-agency e-government implementation.
Question 51 options:

Question 52 (1 point)

DAWIA certification is the process through which DoD components determine that individuals meet the standards (experience, training, and education) required for a career (level I, II, or III) in the acquisition field.
Question 52 options:

Question 53 (1 point)

Professional competencies required in the acquisition workforce include __________.
Question 53 options:
customer service
oral and written communication
all of the above

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ASCM 626 Purchasing and Materials Management Week 10 Final Exam Answer