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254 MGT Contracts and Procurement

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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.;True;False;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;Non-disclosure agreement;An indemnity bond;Non-competition agreement;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;business requirements;statement of work;functional requirements;specifications;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.;True;False;Question 10 1 points Save;Buyers use SOWs to express their requirements.;True;False;Question 11 1 points Save;To ensure efficiency in contract administration, administrative closure activities should be delayed until project completion.;True;False;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.;True;False;Question 16 1 points Save;The cost-as-an-independent-variable sees cost as the key project driver.;True;False;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.;True;False;Question 19 1 points Save;Which of the following contracting concepts is not associated with competitive procurements?;RFP;Sole source bid;IFB;RFQ;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);negotiated proposals;sole source proposals;unsolicited 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;Provides sponsorship;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;Technical merit;Organizational capabilities;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.;True;False;Question 25 1 points Save;Contracts should not close out until final user acceptance tests (UATs) are conducted.;True;False;Question 26 1 points Save;Performance-based contracts focus on;how the deliverable should be produced;humanresource allocation;financial management;what should be produced;Question 27 1 points Save;Performance-based payments on contracts are tied to the achievement of well-defined milestones.;True;False;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.;True;False;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;$180,000;$205,000;$209,000;$184,000;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.;True;False;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;scoring;poor man's hierarchy;peer review;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;Buyer;Seller;Question 39 1 points Save;Quality control is an aspect of contract administration.;True;False;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.;True;False;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?;Patent;Service mark;Trademark;Copyright;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;Product verification;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;R&D 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.;True;False;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.;True;False;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.;True;False;Question 54 1 points Save;The Universal Copyright Convention extends copyright protection to translations of copyrighted works into foreign languages.;True;False;Question 55 1 points Save;Procurement planning involves selection of a suitable contractor to execute a project.;True;False;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 construction;Requirements analysis;Baselining;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.;True;False;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.;True;False;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 contractual obligations;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;Inspecting deliverables;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;its age;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;obtain quotations;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

 

Paper#30396 | Written in 18-Jul-2015

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