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Quizzes > Quizzes for Business > Government

Take the Federal Acquisition Regulation Knowledge Test

Sharpen Your Federal Contract Compliance Skills

Difficulty: Moderate
Questions: 20
Learning OutcomesStudy Material
Colorful paper art displaying questions for Federal Acquisition Regulation Knowledge Test quiz

Ready to boost your federal contracting expertise? This Federal Acquisition Regulation Knowledge Test offers a quick FAR quiz with 15 multiple-choice items to evaluate your contract compliance know-how. Professionals and students can refine acquisition regulation skills and measure progress in our intuitive editor - customize questions freely to suit your goals. Explore related Defense Acquisition Knowledge Quiz or try the Customs Regulation Knowledge Quiz. Discover more quizzes for continued practice and growth!

What does FAR stand for?
Federal Acquisition Regulation
Federal Agency Rules
Federal Accounting Requirements
Federal Administrative Register
FAR stands for Federal Acquisition Regulation, which is the primary regulation for U.S. federal government procurement. It compiles uniform policies and procedures for acquisition.
Which FAR part addresses competition requirements in federal procurements?
Part 6
Part 15
Part 12
Part 19
FAR Part 6 outlines the policies and procedures for promoting full and open competition in federal procurements. It sets the foundation for competition requirements.
Which contract type places full cost risk on the contractor by establishing a firm price?
Firm-Fixed-Price contract
Cost-Reimbursement contract
Time-and-Materials contract
Indefinite-Delivery contract
A Firm-Fixed-Price contract sets a specific price for deliverables and places the cost risk on the contractor. This type is used when requirements are well-defined.
What is the current micro-purchase threshold for most federal acquisitions under the FAR?
$10,000
$3,500
$25,000
$50,000
The micro-purchase threshold is set at $10,000 for most federal procurements under the FAR. Purchases below this amount can be acquired with simplified procedures.
Which procurement method uses sealed bids and a public bid opening to award contracts?
Sealed Bidding
Negotiated Procurement
Simplified Acquisition
Request for Quotation
Sealed bidding is a procurement method in which bids are submitted in sealed envelopes and publicly opened at a specified time. It emphasizes price competition.
Which FAR clause grants the government rights to audit a contractor's cost or pricing data?
FAR 52.215-2 Audit and Records
FAR 52.232-1 Payments
FAR 52.219-1 Small Business Programs
FAR 52.244-2 Subcontracts
FAR 52.215-2, Audit and Records - Negotiations, provides the government the right to audit contractor books and records. It supports cost or pricing data verification.
Under which contract type does the government reimburse all allowable costs and negotiate a fee separately?
Cost-Reimbursement contract
Firm-Fixed-Price contract
Time-and-Materials contract
Fixed-Price Incentive contract
In a Cost-Reimbursement contract, the government reimburses allowable costs incurred by the contractor and negotiates a separate fee. It is used when uncertainties in requirements exist.
When is a contracting officer permitted to award a contract on a sole-source basis without competition?
When only one responsible source is available
When sealed bidding results in multiple bids
When the procurement is below micro-purchase threshold
When a protest has been filed
A sole-source award is permitted when only one responsible source can fulfill the requirement. This is allowed under FAR part 6 as an exception to competition.
Which evaluation method allows consideration of both price and non-price factors to determine best value?
Best Value Tradeoff
Lowest Price Technically Acceptable
Cost-Plus-Award-Fee
Sealed Bidding
The Best Value Tradeoff method weighs price and non-price factors such as technical capability. It allows tradeoffs to achieve the best overall value.
Which FAR part governs contract financing policies?
Part 32
Part 31
Part 16
Part 42
FAR Part 32 covers contract financing methods including progress payments and performance-based payments. It sets the requirements for financing government contracts.
Which FAR part establishes cost principles and procedures for pricing cost-reimbursement contracts?
Part 31
Part 13
Part 15
Part 37
FAR Part 31 provides cost principles and requirements for determining allowable costs under cost-reimbursement contracts. It ensures uniformity and fairness.
Which of the following is considered a non-price evaluation factor?
Past Performance
Quoted Price
Delivery Date
Payment Terms
Past Performance is a non-price evaluation factor that assesses a contractor's track record. It helps predict future performance quality.
At what estimated contract price is a detailed cost analysis generally required under the FAR when price analysis is insufficient?
$650,000
$100,000
$250,000
$1,000,000
Under FAR 15.404-1(d), a cost analysis is generally required for negotiated contracts at or above $650,000 if price analysis is inadequate. This threshold ensures fair pricing.
What is an undefinitized contract action (UCA)?
Agreement to begin work before final terms are negotiated
A cancelled procurement action
A subcontract under a prime contract
A fixed-price order under the micro-purchase threshold
An undefinitized contract action is an agreement where work starts prior to finalizing contract terms and price. It allows for timely performance under urgent needs.
Which FAR clause governs the requirement for contractor consent to subcontract and flow-down provisions?
FAR 52.244-2 Subcontracts
FAR 52.219-8 Utilization of Small Business Concerns
FAR 52.232-25 Prompt Payment
FAR 52.212-4 Contract Terms and Conditions
FAR 52.244-2 requires contractor consent before subcontracting major work and identifies clauses to be flowed down. It maintains contract integrity.
Under FAR, when is the Truth in Negotiations Act clause required in a contract?
When the contract price exceeds $700,000 and is negotiated
For all fixed-price contracts below the threshold
Only for time-and-materials contracts
When sealed bidding is used
The Truth in Negotiations Act clause (FAR 52.215-2) is required for negotiated contracts exceeding $700,000 in value. It mandates submission of certified cost or pricing data.
What is the maximum fee percentage a contractor can receive under a cost-plus-fixed-fee contract according to FAR guidance?
15% of the estimated cost
5% of the total contract value
20% of the actual cost
No limit, negotiated case-by-case
FAR 15.404-4 caps the fixed fee on cost-plus-fixed-fee contracts at 15% of the estimated cost. This limit ensures a balanced profit incentive.
Which key element is mandatory in a performance-based acquisition under the FAR?
Measurable performance standards
Detailed process descriptions
Detailed design specifications
Subcontractor management plan
Performance-based acquisitions require measurable performance standards to objectively evaluate outcomes. This approach focuses on results rather than methods.
Which FAR subpart allows a noncompetitive award due to unusual and compelling urgency?
FAR 6.302-2
FAR 6.302-1
FAR 6.302-3
FAR 6.302-5
FAR 6.302-2 allows noncompetitive procurement when an unusual and compelling urgency exists. It streamlines acquisition to meet urgent government needs.
When placing an order under a Federal Supply Schedule, which FAR clause must be included in the order?
FAR 52.212-4 Contract Terms and Conditions
FAR 52.232-18 Availability of Funds
FAR 52.219-1 Small Business Program Representations
FAR 52.227-1 Authorization and Consent
When ordering under a Federal Supply Schedule, FAR 52.212-4 is included to specify contract terms and conditions. It ensures consistent application of key provisions.
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Learning Outcomes

  1. Analyse primary FAR provisions governing federal procurements
  2. Apply compliance standards to real-world acquisition scenarios
  3. Identify appropriate contract types under federal regulations
  4. Evaluate cost and pricing principles in contract negotiations
  5. Demonstrate understanding of key FAR clauses and applications
  6. Master best practices for contract administration and oversight

Cheat Sheet

  1. Understand the Purpose and Structure of the FAR - Think of the FAR as the ultimate playbook for federal procurement rules, ensuring every agency plays by the same rulebook. Getting cozy with its chapters and subparts will turn you into a navigation ninja who can zip to the rule you need in seconds. Official FAR Overview
    2. gsa.gov
  2. Recognize Key FAR Provisions - From acquisition planning to contract types and procurement methods, key provisions are like your gear inventory - know what's what and you'll tackle any contracting quest with confidence. Scanning these sections gives you the power to predict and master the rules that matter most. Key FAR Provisions Guide
    3. acquisition.gov
  3. Identify Appropriate Contract Types - Whether it's fixed-price, cost-reimbursement, or time-and-materials, each contract type has its own special moves. Matching the right type to the mission ensures your project's budget and schedule hit the bullseye every time. Contract Types Explained
    4. cliffsnotes.com
  4. Apply Compliance Standards - Compliance in the FAR world is your legal forcefield, keeping procurement ethical and above board. Reviewing real-world scenarios sharpens your skills to spot and handle sticky compliance puzzles like a pro. Compliance Scenarios
    5. procurementsciences.com
  5. Evaluate Cost and Pricing Principles - Dive into cost analysis and pricing guidelines so you can negotiate contracts that are fair, square, and statistically rare. Master these principles and you'll guard the government purse like a seasoned treasure keeper. Cost & Pricing Primer
    6. natlawreview.com
  6. Master Key FAR Clauses - Clauses on modifications, terminations, and performance evaluations are the plot twists of any contract story. Knowing each clause by heart lets you anticipate, adapt, and keep your contract narrative on track. Essential FAR Clauses
    7. acquisition.gov
  7. Understand Contract Administration Best Practices - Monitoring performance, managing changes, and ensuring compliance are your contract admin power moves. Armed with these best practices, you'll be the commander of smooth project execution. Admin Best Practices
    8. procurementsciences.com
  8. Stay Updated on FAR Amendments - The FAR evolves like your favorite game with new levels and challenges. Keeping an eye on amendments means you'll never be caught off guard by updated rules or surprise boss battles. Latest FAR Updates
    9. gsa.gov
  9. Utilize FAR Supplements - Agency supplements are like secret DLCs that layer extra guidance onto the core FAR experience. Understanding these add-ons gives you advanced insight into specific agency playbooks. Supplementary Guidance
    10. samm.dsca.mil
  10. Engage in Continuous Learning - Federal procurement is a dynamic quest that rewards ongoing training and fresh insights. Level up regularly with courses, webinars, and study groups to keep your skills sharp and ready for the next big contract challenge. Learning Resources
    11. cliffsnotes.com
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