A negotiated procurement expected to exceed $750,000 requires certified cost or pricing data unless an exception exists.

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Study for the FAR Part 15 Contracting by Negotiation Test. This quiz covers key concepts of federal contracting procedures, including negotiation strategies and proposal evaluation. Arm yourself with hints and explanations to boost your exam readiness!

Multiple Choice

A negotiated procurement expected to exceed $750,000 requires certified cost or pricing data unless an exception exists.

Under the Truth in Negotiations Act, certified cost or pricing data must be obtained for negotiated contracts when the estimated value exceeds the established threshold, historically $750,000, unless an exception applies. So a negotiated procurement expected to exceed $750,000 generally requires certified cost or pricing data, with exceptions such as adequate price competition, the item being a commercial item, prices set by law or regulation, or a waiver. The rule is not limited to sole-source actions, and it isn’t determined by the Simplified Acquisition Threshold. This is why the statement is true.

A negotiated procurement expected to exceed $750,000 requires certified cost or pricing data unless an exception exists.

Study for the FAR Part 15 Contracting by Negotiation Test. This quiz covers key concepts of federal contracting procedures, including negotiation strategies and proposal evaluation. Arm yourself with hints and explanations to boost your exam readiness!

A negotiated procurement expected to exceed $750,000 requires certified cost or pricing data unless an exception exists.

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