Question

When using the simplified acquisition methods for commercial items, acquisitions do not exceed:

a) $250,000
b) $500,000
c) $1,000,000
d) $5,000,000

Answer 1

The maximum acquisition limit for contracts using simplified acquisition methods for commercial items is $250,000. The correct option is a.

Step-by-step explanation:

When using the simplified acquisition methods for commercial items, the maximum acquisition limit for contracts is $250,000. This means that any acquisition exceeding this amount would not be considered a simplified acquisition. Simplified acquisition methods are procedures that streamline the acquisition process for commercial items, making it faster and more efficient for both the government and the contractors.

For acquisitions above $250,000, different contracting methods and regulations may apply, such as full and open competition or full formal contracting procedures. The use of simplified acquisition methods for commercial items is governed by the Federal Acquisition Regulation (FAR) Subpart 13.5, which provides guidance on the rules and procedures for these acquisitions.

Hence, Option a is correct.