Preview Questions Defense Contract Manager | Role Specific Skill

Question 1: How do you negotiate a defense contract when the contractor has limited experience working with government contracts?

Which action should you take?

Choose only one option

By including additional oversight clauses, performance milestones, and training requirements for the contractor

By excluding performance clauses to avoid complexity

By assuming that the contractor will naturally comply with government standards

By simplifying the contract to reduce the number of compliance requirements

Question 2: In a defense contract, how do you mitigate financial risk when the project scope is unclear or evolving?

Which action should you take?

Choose only one option

By negotiating flexible terms with provisions for scope changes and cost adjustments

By fixing the scope and cost at the start and excluding any changes

By avoiding detailed financial planning and focusing only on performance

By relying on the contractor to absorb any cost overruns

Question 3: What is the purpose of "Ethical Compliance" in defense contracting, particularly in relation to government regulations?

Which action should you take?

Choose only one option

Ethical compliance focuses only on environmental practices

Ethical compliance is irrelevant when contracts are awarded to top contractors

Ethical compliance ensures that contractors follow both legal and moral guidelines in their business practices, preventing corruption

Ethical compliance only applies to financial transactions

Question 4: How do you assess the cost-effectiveness of a contractor's proposed budget in a defense project?

Which action should you take?

Choose only one option

By relying on a fixed percentage markup based on previous contracts

By conducting a detailed cost-benefit analysis, reviewing historical cost performance, and benchmarking against industry standards

By accepting the contractor's proposed budget without review

By reducing the contractor's proposed budget to minimize costs

Question 5: What is the role of "FAR" (Federal Acquisition Regulation) in ensuring regulatory compliance in defense contract management?

Which action should you take?

Choose only one option

FAR applies only to government-funded defense programs, not to private contracts

FAR sets the guidelines for acquiring goods and services for government agencies, ensuring transparency, fairness, and legal compliance

FAR is a financial regulation, not a contracting guideline

FAR is irrelevant for international contracts and only applies to domestic procurement

Question 6: How do "Risk Mitigation Plans" help reduce the impact of risks during the execution of defense contracts?

Which action should you take?

Choose only one option

Risk mitigation plans focus only on financial costs, not operational impacts

Risk mitigation plans define proactive actions to reduce the likelihood or impact of identified risks, improving contract execution

Risk mitigation plans only apply to legal risks, not technical ones

Risk mitigation plans are unnecessary if there is a risk management framework in place