ESSAY QUESTIONS: (70 points total – 500 words per question minimum) Please write the essay under each question.
Question 76: Describe a system or process to be used by a company to avoid defective pricing on a contract awarded when cost or pricing data has been submitted. (20 points)
Question 77: Under what conditions is a cost realism analysis required? Why is it important to the contract award process? (20 points)
Question 78: What are five things to be considered by buyers before a termination for default is issued? Why is each an important factor? (10 points)
Question 79: How is an equitable adjustment determined under the authority of the changes clause in a fixed price supply contract? (10 points)
Question 80: Describe the steps for administrative closeout of a cost reimbursement contract. (10 points)