Question

Regarding Federal Government Contracting:

1. True or False:

DCMA’s functions are limited to contract administration and quality assurance.

2. True or False:

It is important to impose tight budgetary controls on fixed price contracts than on cost type contracts.

3. True or False:

Under fixed price contracts, after inspection has been made and the delivered items are accepted, the contractor is paid.

4. True or False:

The first step upon receipt of an advance copy of the contract is to register it and assign a work order project number.

5. True or False:

After the contract is received by the contractor, the procuring contracting officer at the initiating procurement activity may transfer the contract to the Defense Contract Management Agency.

Answer 1

1.DCMA’s functions are limited to contract administration and quality assurance.

False

2.It is important to impose tight budgetary controls on fixed price contracts than on cost type contracts.

False

3.Under fixed price contracts, after inspection has been made and the delivered items are accepted, the contractor is paid.

True

4.The first step upon receipt of an advance copy of the contract is to register it and assign a work order project number.

True

5. After the contract is received by the contractor, the procuring contracting officer at the initiating procurement activity may transfer the contract to the Defense Contract Management Agency.

False