Which of the following is NOT considered a type of contract under the FAR?

The selection of "D" as the answer identifies that informal agreements do not constitute a recognized contract type under the Federal Acquisition Regulation (FAR). The FAR categorizes contracts into defined types, each having specific characteristics and purposes, while informal agreements lack the formalities and binding nature typical of contracts.

In contrast, fixed-price contracts are agreements where the price is set and not subject to change regardless of the contractor’s costs. Cost-reimbursement contracts allow for costs incurred to be paid, with certain limitations or caps, fostering flexibility for various projects. Time and materials contracts involve the reimbursement for labor at pre-agreed hourly rates along with material costs, making them suitable for projects where scope cannot be clearly defined in advance.

Overall, the terminal classification of contracts under the FAR aligns with regulatory frameworks, underscoring that informal agreements do not fit within this established regulatory structure. This reinforces the importance of formal contract types in federal contracting practices.