1. What are the two basic types of contracts the government uses?

2. What are firm fixed price contract usually used for? Where cost reimbursement types contract usually used for? 

3. How is the contractor paid on a firm fixed price contract versus a cost reimbursement contract?

4. What is the difference between a cost plus fixed fee completion type contract and a cost plus fixed fee term type contract?

5. Which type of contract puts the most risk on the contractor; is it a firm fixed price contract or a cost plus fixed fee contract?

6. How is this fee determined in a cost plus fixed fee contract? What is the maximum feel out on a cost plus fixed fee contract?

7. Why does the government choose a indefinite delivery indefinite quantity type contract? What type of flexibility does this provide the government?

8. What is the difference between a delivery order and a task order?

9. What is the definition of an option now is it used by the government? When evaluating the cost of the contract should all options be included in the total price.

10. What is the best analytical technique that a contracting officer can use to determine whether a price is fair and reasonable for a firm fixed price sealed bid commercial item?  

11. What is the best analytical technique the contracting officer can use regarding a cost plus fixed fee research and development type contract that may require negotiations?

12. Under the truth in negotiations act when is cost analysis performed?

13. What are some of the exemptions? When can a contracting officer wave a cost analysis?

14. What types of costs are usually included in the contractors cost proposal? When is a certificate of current cost and pricing data required? What is the purpose of a certificate of current cost and pricing data?

15. As a contracting officer what would you use as a benchmark or a guide in order to determine whether or not contractors profit or fee is reasonable?

16. What is the purpose of a certificate of competency? What does this certify?

17. If you had a small purchase between $2500 and $100,000 who would you award the small purchase to, a large business or a small business? What would be your rationale?

18. What is the purpose of the buy American act? What percentage of the product has to be manufactured or produced here in the United States in order to be considered an American product?

19. What is meant by the term manufacturing?

20. What is the difference between an end product and components?