Reference no: EM13892368

Q1. From a licensee's perspective, technology licensing is attractive because it:

a. reduces dependence on the licensor
b. promotes initiative in the use of a superior technology
c. provides opportunities for the licensee's employees to learn new technology skills
d. has few legal issues to contend with

Q2. Which of the following contracting concepts is not associated with competitive procurements?

a. RFP
b. IFB
c. RFQ
d. Sole source bid

Q3. Three critical components of performance based contracting are:

a. the PWS, QAP, and outcomes analysis
b. the PWS, AQL, and outcomes analysis
c. the PWS, QAP, and positive/negative incentives
d. identical to the critical components of activity based costing

Q4. 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?

a. Patent
b. Trademark
c. Copyright
d. Service mark

Q5. 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.

a. true
b. false

Q6. With a pink team review:

a. the project proposal is scrutinized late in the proposal development effort by a panel of people who play the role of customers
b. the project proposal is scrutinized early in the proposal development effort by a panel of people who play the role of customers
c. project pricing is carefully examined by pricing experts
d. buyers make a preliminary decision on which bid should be granted a contract

Q7. An exclusive license is most appropriate:

a. for unique technologies
b. for routine technologies
c. only in the traditional industries
d. when a small investment is needed to use a technology

Q8. To ensure efficiency in contract administration, administrative closure activities should be delayed until project completion.

a. true
b. false

Q9. A difference between an RFP and an IFB is that with an RFP:

a. sealed bids are tendered and opened publicly at one time
b. there may be no negotiations between buyer and supplier
c. a request is made for bids whose terms eventually may be negotiated
d. the objective is to request quotations

Q10. Work for hire refers to work produced by employees and contractors within the scope of their employment contract.

a. true
b. false

Q11. 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:

a. poor man's hierarchy
b. peer review
c. Buss's ranking technique
d. scoring

Q12. A significant objective of the cost-as-an-independent-variable (CAIV) perspective is to:

a. assure all technical requirements have been met
b. reduce the total operating cost (TOC) associated with programs
c. make sure that a high quality deliverable is produced at any cost
d. develop a quantitative model of project costs

Q13. One of the key characteristics of the Cost Plus Award Fee (CPAF) contract is that:

a. it offers the buyer no leverage in dealing with sellers
b. bonus payments are made to sellers based on subjective judgments about project performance
c. there is no explicit payment of additional fees
d. buyers face no risk of cost overruns

Q14. What is the purpose of the bidders' conference?
a. To enable the buyer to interact with successful bidders
b. To enable the buyer to negotiate price with successful bidders
c. To enable management to review bids that have been received by the buyer
d. 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

Q15. The cost-as-an-independent-variable sees cost as the key project driver.
a. true
b. false

Q16. The acceptable quality level (AQL)
a. defines the minimum acceptable performance of a requirement
b. is a key component of the statement of work
c. must lie within 3-sigma of the mean
d. goes against the basic precepts of quality management, since it focuses only on what is acceptable and not on what is best

Q17. Grant-back provisions in a licensing agreement require that improvements the licensee makes to a licensed technology revert back to the licensor.
a. true
b. false

Q18. With performance work statements, attention focuses on defining outcomes.
a. true
b. false

Q19. Which of the following is an activity at the source selection stage?
a. Product verification
b. Project baseline verification
c. Measuring work performance
d. Evaluation of the contracting firm's qualifications

Q20. What function does a level of effort SOW perform?
a. It establishes a detailed listing of specifications that a contract should address
b. It establishes a high level listing of specifications that a contract should address
c. It defines the dollar value of project scope
d. It identifies work that needs to be done and the anticipated person-days (or hours, or years) of effort associated with the work effort

Q21. Quality control is an aspect of contract administration.
a. true
b. false

Q22. Buyers use SOWs to express their requirements.
a. true
b. false

Q23. Unauthorized use of a trademark is called piracy.
a. true
b. false

Q24. An advantage of the Cost Plus Fixed Fee (CPFF) contract is that:
a. it prevents schedule slippage
b. the buyer faces no risk of cost overrun
c. the buyer can attract higher quality sellers
d. the seller loses through cost overruns

Q25. The Universal Copyright Convention extends copyright protection to translations of copyrighted works into foreign languages.
a. true
b. false

Q26. Under what conditions is an RFQ an appropriate mode of solicitation?
a. When goods and services are already defined
b. When dealing with non-routine efforts
c. When an award fee can be identified
d. When dealing with state-of-art efforts

Q27. Performance-based contracts focus on:
a. how the deliverable should be produced
b. what should be produced
c. human resource allocation
d. financial management

Q28. The fair use principle allows reasonable use of copyrighted material only after permission has been obtained from the copyright owner.
a. true
b. false

Q29. The value of a trademark depends on:
a. its age
b. who the founder of the company that holds the trade mark is
c. the perceived quality of the trademarked good
d. the aesthetic beauty of the trademark

Q30. A proposal that reflects the seller's best and final offer is typically associated with a:
a. Request for Proposal (RFP)
b. Request for Quotation (RFQ)
c. Cost Plus Fixed Fee (CPFF) contract
d. Invitation for Bid (IFB)

Q31. Which of the following roles may the staff of a modern project support office play in contract management?
a. Provides sponsorship
b. Conducts risk assessment of a proposed project that an organization wants to bid on
c. Negotiates detailed contract terms and conditions
d. Has no role to play

Q32. Who bears most risk in a cost reimbursable contract?
a. Seller
b. Buyer
c. Buyer and seller bear equal risk
d. Seller and general public

Q33. Requirements addressing technical issues stated in non-technical terms are called
a. business requirements
b. functional requirements
c. specifications
d. statement of work

Q34. In contracting, the term "boilerplate" refers to:
a. Written material that can be used over and over again on proposals and contracts
b. Penalties directed against contractors who fail to perform according to contractual requirements
c. Penalties directed against buyers who fail to meet their contractual obligations
d. Contingency reserves that are built into contracts to deal with known unknowns

Q35. Contract negotiation 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.
a. true
b. false

Q36. Which of the following is not a typical criterion employed to identify winning contracts?
a. Technical merit
b. Political orientation of bidders
c. Organizational capabilities
d. Effectiveness of the work plan

Q37. Copyright law protects:
a. the content of an idea
b. the content and expression of an idea
c. the expression of an idea
d. patents and content of an idea

Q38. Contract administration refers to:
a. preparing and issuing Requests for Proposal (RFPs)
b. administering the source selection process
c. the process of ensuring that the contractor's performance meets contractual requirements
d. administering the contract negotiation process

Q39. The basic objective of procurement planning is to:
a. choose from potential sellers
b. determine what to procure and when
c. manage relationships with the seller
d. obtain quotations

Q40. Which of the following is a tool that is used for performance measurement in contracting?
a. Earned value estimates
b. Resource leveling analysis
c. Contractor technical capability analysis
d. The Peter Principle

Q41. Indefinite delivery contracts are employed:
a. on high risk contracts
b. on low risk contracts
c. when the buyer does not know how many items he/she needs
d. when the seller is not sure how much should be charged for contracted work

Q42. Rapid prototyping is a technique geared to
a. identifying customer requirements
b. developing deliverables as quickly as possible
c. building small deliverables
d. maintaining spare parts for complex systems

Q43. To protect the intellectual property of the buyer, a contractor is typically made to sign a:
a. Non-competition agreement
b. Conflict of interest agreement
c. Non-disclosure agreement
d. An indemnity bond

Q44. 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.
a. true
b. false

Q45. Proposals coming from contractors who have unique skills in providing goods and services are called:
a. best and final offers (BAFOs)
b. negotiated proposals
c. sole source proposals
d. unsolicited proposals

Q46. 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.
a. true
b. false

Q47. 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.
a. true
b. false

Q48. When an employee produces an invention as part of her job:
a. ownership of the patent for the invention is assigned to her
b. ownership of the patent for the invention is assigned to the employer
c. her employer is given a compensatory title as the inventor
d. her employer is designated both as inventor and patent owner because she used company resources and time to produce the invention

Q49. Which of the following is an example of a situation for which Fixed Price contracts are most appropriate?
a. Production of routine deliverables
b. One-of-a kind projects
c. R&D projects
d. Production of high risk deliverables

Q50. Buybacks are a form of remuneration for licensing by which the licensor buys back stock shares in the licensee's business.
a. true
b. false