CON 3990 EXAM QUESTIONS 2026 |
COMPLETELY SOLVED!!
What is the Micro-purchase $10k
threshold for supplies?
All incentive contracts (schedule or Cost incentive or constraint
performance) must also include
what?
What requires funds to be used only Bona Fide Needs Rule
for needs or services in the year of
the appropriations obligation
period?
What contract types can be used for FFP or FPEPA
commercial item purchases?
What is the Simplified Acquisition $7.5M - commercial $250k for non-commercial
Threshold for commercial products
and services? What is it for non-
commercial?
True or False: The Gov shall True
use electronic commerce
whenever practicable or cost-
effective
,What is the purpose of a contract Provide background/basis for decisions
file? (4) Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a
litigation
Can contract files be combined if Yes
appropriate?
At what level are contract Maintained at the organizational level to ensure
files maintained and why? 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 When the KO receives evidence of receipt of
out? property or final payment
When is a FFP (not SAP) contract file Should be closed out within 6 months after date
closed out? KO receives evidence of physical completion
When should contract files required Within 36 months of the month the KO receives
settlement of indirect cost rates be evidence of physical completion
closed out?
When should all other (not SAP, FFP, Within 20 months of the month the KO receives
or indirect cost rate) contract files be evidence of physical completion
closed?
, When is a contract considered the KTR has completed required deliveries and
physically complete? 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
What are the steps to close out a 1) Contract admin office is responsible for
contract file? 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 6 years after final payment
retained after closeout?
What does a KO need prior to Justification and Approval which justifies the
commencement of negotiations for a actions in writing, certifies the accuracy and
sole source contract, completeness of the justifications and obtains
commencement of negotiations for a the approval
contract resulting from an required
unsolicited proposal, or award
without providing for full and open
competition?
The KO shall not award a sole- they have a signed Justification and Approval
source contract for an amount
exceeding $25M unless
COMPLETELY SOLVED!!
What is the Micro-purchase $10k
threshold for supplies?
All incentive contracts (schedule or Cost incentive or constraint
performance) must also include
what?
What requires funds to be used only Bona Fide Needs Rule
for needs or services in the year of
the appropriations obligation
period?
What contract types can be used for FFP or FPEPA
commercial item purchases?
What is the Simplified Acquisition $7.5M - commercial $250k for non-commercial
Threshold for commercial products
and services? What is it for non-
commercial?
True or False: The Gov shall True
use electronic commerce
whenever practicable or cost-
effective
,What is the purpose of a contract Provide background/basis for decisions
file? (4) Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a
litigation
Can contract files be combined if Yes
appropriate?
At what level are contract Maintained at the organizational level to ensure
files maintained and why? 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 When the KO receives evidence of receipt of
out? property or final payment
When is a FFP (not SAP) contract file Should be closed out within 6 months after date
closed out? KO receives evidence of physical completion
When should contract files required Within 36 months of the month the KO receives
settlement of indirect cost rates be evidence of physical completion
closed out?
When should all other (not SAP, FFP, Within 20 months of the month the KO receives
or indirect cost rate) contract files be evidence of physical completion
closed?
, When is a contract considered the KTR has completed required deliveries and
physically complete? 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
What are the steps to close out a 1) Contract admin office is responsible for
contract file? 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 6 years after final payment
retained after closeout?
What does a KO need prior to Justification and Approval which justifies the
commencement of negotiations for a actions in writing, certifies the accuracy and
sole source contract, completeness of the justifications and obtains
commencement of negotiations for a the approval
contract resulting from an required
unsolicited proposal, or award
without providing for full and open
competition?
The KO shall not award a sole- they have a signed Justification and Approval
source contract for an amount
exceeding $25M unless
