CON 3990V CERTIFICATION TEST 2026/2027 BANK
QUESTIONS WITH 100%DETAILED VERIFIED
ANSWERS / EXAM QUESTIONS WILL COME FROM
HERE (100% CORRECT ANSWERS/ A+
GRADED/BRAND NEW!!
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 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
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
When is a SAP contract file closed out? - ANSWER-When
the KO receives evidence of receipt of property or final
payment
QUESTIONS WITH 100%DETAILED VERIFIED
ANSWERS / EXAM QUESTIONS WILL COME FROM
HERE (100% CORRECT ANSWERS/ A+
GRADED/BRAND NEW!!
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 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
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
When is a SAP contract file closed out? - ANSWER-When
the KO receives evidence of receipt of property or final
payment
