57) Let the equipment is rented for x days Renting cost = 100*x Leasing cost = 3
ID: 372972 • Letter: 5
Question
57)
Let the equipment is rented for x days
Renting cost = 100*x
Leasing cost = 3000 + 70*x
Equating the two:
1000x = 3000 + 70x
x = 100
C
58) C
In Solicitation, the bid is taken and analyzed with all possible alternatives. Hence, comparison is done at this stage
59) B
The person who entered into contract and cannot perform work now. It will still be legally binding and be sued as per law
60) A
In fixed firm price, if the value of material increases then contractor has to pay out of pocket
Explanation / Answer
57. If a project manager requires the use of a piece of equipment, how many days must he equipment before his costs are equal to the total costs of leasing the equipment? rent the Cost Categories Renting Costs $0.00 $0.00 $100.00 Leasing Costs $3,000.00 $70.00 $0.00 Annual maintenance Daily operation Daily rental b. c. d. e. 500 days 30 days 100 days 700 days None of the above 58. The make or bay decision is made at which stage of the contracting cycle? b. Requisition c. Solicitation d. Award e. Contractual In which of the following extenuating circumstances would the agreement still be legally binding? The contract violates state law The person who entered into the agreement cannot perform the work There " required it The agreement was not in writing All are nonbinding agreements a b. c· was no consideration (i.e, down payment) provided, although the contrace d· e. o Which of the following contract sypes has the highest risk to the contractor? Fixed firm price (FFP) Time and material (T&M;) Cost plus fixed fee (CPFF) Cost plus incentive fee (CPIF) aand b only a. b. d. e, Which of the following is not a part of the acquisition process? a. Source selection b. Invitation to bic c. Contract award d. Notice to proceed e. All of the above are parts of the acquisition process () Which of the following is not a part of contract administration: a. Contract award b. Performance control c. Financial control d. Contract closeout e. All of the above are parts of contract administration
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