Most risk under firm fixed price contract

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Reference no: EM132190348

1. Some of the factor(s) the contracting officer should consider when determining a price to be “fair and reasonable” is/are:

All of these.

Market conditions.

Supply and demand.

Presence of competition.

2. Who bears the most risk under a Firm Fixed Price (FFP) Contract?

Contractor

Sub-Contractor

Government

No answer text provided.

3. What does adequate price competition mean?

Two or more offerors competing independently.

Both of these.

Considers only the proposals that meet the government’s requirements.

4. Price Analysis means?

Looking at the proposed total price in comparison to other known prices that are/were shown to be fair and reasonable under similar conditions.

Evaluating a cost breakout for labor, material or overhead.

Not evaluating profit separately to properly reward the contractor. answer text provided.

Determining reasonableness of each cost element provided.

Reference no: EM132190348

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