CON 3990V CERTIFICATION EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) {160 Q & A} ALREADY GRADED A+ | LATEST UPDATE 2026/2027 | BRAND NEW!

CON 3990V CERTIFICATION EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) {160 Q & A} ALREADY GRADED A+ | LATEST UPDATE 2026/2027 | BRAND NEW! What are the essential elements of a contract? - Correct Answer 1. Capacity 2. Mutual Assent 3. Consideration 4. Lawful purpose Which FAR Part is the best source of information regarding competition requirements? - Correct Answer FAR Part 6 (Competition Requirements) Where is in the FAR is contracting by negotiation covered? - Correct Answer FAR Part 15 Termination for ______ is similar to default termination except it applies to _________ formats - Correct Answer Cause 2 | Page Commercial Contracts Termination for ________ is the exercise of the Government's contractual to completely or partially terminate a contract bc of contractor's actual or anticipated _____ - Correct Answer Default Failure to Perform What shall agencies use for acquisition of commercial items (FAR Part 12)? - Correct Answer Firm-Fixed Price Fixed-Price Contracts w/ Economic Price Adjustment What is the order for negotiations? (FAR Part 15) - Correct Answer Clarifications Communications Discussions What is considered a contract action? - Correct Answer Contract action means any oral or written action that results in the purchase, rent, or lease of supplies or equipment, services, or construction. 3 | Page What is latent defect? - Correct Answer is one that is not readily noticeable upon reasonable inspection at the time of acceptance. Who accepts the burden of latent defect? - Correct Answer The burden is on the government to prove that defective material and workmanship was the probable cause of product failure or nonconformance. Show Cause - Correct Answer Used after the cure notice fails to correct delinquency What are the two main types of termination for non-commercial contracts? - Correct Answer Termination for Convenience Termination for Default Termination for ______ is the gov. unilateral contract right to partially or completely terminate a contract.... of work under a contract ______ - Correct Answer Convenience when it is in the government's best interest Who can you submit a claim to? - Correct Answer Contractor claims are submitted to the KO 4 | Page What is a claim? - Correct Answer a written demand or assertion by one of the contracting parties seeking (i) payment of a specific sum of money, (ii) adjustment or interpretation of contract terms, or (iii) other relief arising under or relating to the contract.