The federal procurement lifecycle from acquisition planning through award tested in federal contracting basics.
33 cards · basic cards · AI-written, checked twice. Edit anything.
- What does FAR stand for?
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Federal Acquisition Regulation- Define acquisition planning.
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The process of determining the need for supplies or services and developing a strategy to satisfy that need- What is the primary federal website for posting procurement opportunities?
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SAM.gov (System for Award Management)- How many days before issuance must an agency publish a synopsis of a proposed procurement?
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At least 15 days- What is the difference between a Statement of Objectives (SOO) and an RFP?
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SOO states desired results only; RFP includes detailed specifications and requirements- Name three federal small business set-aside programs.
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Service-Disabled Veteran-Owned Small Business (SDVOSB), HUBZone Small Business, and Women-Owned Small Business (WOSB)- When is sealed bidding used instead of negotiated procurement?
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When detailed specifications are available and price is the primary award determinant- What is an RFQ (Request for Quotation)?
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A simplified solicitation method for purchases, typically under $250,000, using less formal procedures- Define a BAFO (Best and Final Offer).
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An agency request for contractors to submit their final revised proposal and pricing- How long from GAO receipt does a bidder have to protest a contract award?
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10 days- When must an agency provide debriefing to an unsuccessful bidder?
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Upon request, within a reasonable time after contract award or cancellation- What is a Firm-Fixed-Price (FFP) contract?
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A contract where the contractor receives a set price regardless of actual costs incurred- What is a Cost-Plus-Fixed-Fee (CPFF) contract?
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A contract where the contractor is reimbursed for allowable costs plus a fixed dollar fee- When is a Time-and-Materials (T&M) contract used?
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When the scope of work or duration cannot be determined in advance- What is an indefinite-delivery indefinite-quantity (IDIQ) contract?
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A contract that establishes a framework for delivery of supplies or services with indefinite quantity over an extended period
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