1|Page
CON 3990 Exam Questions with 100% Verified
Answers UPDATED!!!
What is the Micro-purhcase threshold for supplies? - ANSWER
$10k
All incentive contracts (schedule or performance) must also
include what? - ANSWER Cost incentive or constraint
What requires funds to be used only for needs or services in the
year of the appropriations obligation period? - ANSWER Bona
Fide Needs Rule
What contract types can be used for commercial item
purchases? - ANSWER FFP or FPEPA
What is the Simplified Acquisition Threshold for commercial
products and services? What is it for non-commercial? -
ANSWER $7.5M - commercial $250k for non-commercial
,2|Page
True or False: The Gov shall use electronic commerce whenever
practicable or cost-effective - ANSWER True
What is the purpose of a contract file? (4) - ANSWER Provide
background/basis for decisions
Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a litigation
Can contract files be combined if appropriate? - ANSWER Yes
At what level are contract files maintained and why? - ANSWER
Maintained at the organizational level to ensure
effective documentation of contract actions
accessibility by principal users
minimal establishment of duplicate and working files
safeguarding classified docs
conformance with agency regs
,3|Page
When is a SAP contract file closed out? - ANSWER When the KO
receives evidence of receipt of property or final payment
When is a FFP (not SAP) contract file closed out? - ANSWER
Should be closed out within 6 months after date KO receives
evidence of physical completion
When should contract files required settlement of indirect cost
rates be closed out? - ANSWER Within 36 months of the month
the KO receives evidence of physical completion
When should all other (not SAP, FFP, or indirect cost rate)
contract files be closed? - ANSWER Within 20 months of the
month the KO receives evidence of physical completion
When is a contract considered physically complete? - ANSWER
the KTR has completed required deliveries and Gov has
inspected and accepted the supplies
The contractor has performed all services and the Gov has
accepted the services and
all option provisions, if any, have expired
or the Gov gives the KTR notice of termination
, 4|Page
What are the steps to close out a contract file? - ANSWER 1)
Contract admin office is responsible for initiating, reviewing
contract fund status, and deobligating excess funds
2)KO issues a contract completions statement
3) KO files completed statement and signed copy send to admin
office
How long are contract documents retained after closeout? -
ANSWER 6 years after final payment
What does a KO need prior to commencement of negotiations
for a sole source contract, commencement of negotiations for a
contract resulting from an unsolicited proposal, or award
without providing for full and open competition? - ANSWER
Justification and Approval which justifies the actions in writing,
certifies the accuracy and completeness of the justifications and
obtains the approval required
The KO shall not award a sole-source contract for an amount
exceeding $25M unless - ANSWER they have a signed
Justification and Approval
CON 3990 Exam Questions with 100% Verified
Answers UPDATED!!!
What is the Micro-purhcase threshold for supplies? - ANSWER
$10k
All incentive contracts (schedule or performance) must also
include what? - ANSWER Cost incentive or constraint
What requires funds to be used only for needs or services in the
year of the appropriations obligation period? - ANSWER Bona
Fide Needs Rule
What contract types can be used for commercial item
purchases? - ANSWER FFP or FPEPA
What is the Simplified Acquisition Threshold for commercial
products and services? What is it for non-commercial? -
ANSWER $7.5M - commercial $250k for non-commercial
,2|Page
True or False: The Gov shall use electronic commerce whenever
practicable or cost-effective - ANSWER True
What is the purpose of a contract file? (4) - ANSWER Provide
background/basis for decisions
Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a litigation
Can contract files be combined if appropriate? - ANSWER Yes
At what level are contract files maintained and why? - ANSWER
Maintained at the organizational level to ensure
effective documentation of contract actions
accessibility by principal users
minimal establishment of duplicate and working files
safeguarding classified docs
conformance with agency regs
,3|Page
When is a SAP contract file closed out? - ANSWER When the KO
receives evidence of receipt of property or final payment
When is a FFP (not SAP) contract file closed out? - ANSWER
Should be closed out within 6 months after date KO receives
evidence of physical completion
When should contract files required settlement of indirect cost
rates be closed out? - ANSWER Within 36 months of the month
the KO receives evidence of physical completion
When should all other (not SAP, FFP, or indirect cost rate)
contract files be closed? - ANSWER Within 20 months of the
month the KO receives evidence of physical completion
When is a contract considered physically complete? - ANSWER
the KTR has completed required deliveries and Gov has
inspected and accepted the supplies
The contractor has performed all services and the Gov has
accepted the services and
all option provisions, if any, have expired
or the Gov gives the KTR notice of termination
, 4|Page
What are the steps to close out a contract file? - ANSWER 1)
Contract admin office is responsible for initiating, reviewing
contract fund status, and deobligating excess funds
2)KO issues a contract completions statement
3) KO files completed statement and signed copy send to admin
office
How long are contract documents retained after closeout? -
ANSWER 6 years after final payment
What does a KO need prior to commencement of negotiations
for a sole source contract, commencement of negotiations for a
contract resulting from an unsolicited proposal, or award
without providing for full and open competition? - ANSWER
Justification and Approval which justifies the actions in writing,
certifies the accuracy and completeness of the justifications and
obtains the approval required
The KO shall not award a sole-source contract for an amount
exceeding $25M unless - ANSWER they have a signed
Justification and Approval
