CON 3990 EXAM 2025 2026 UPDATED MOST TESTED
QUESTIONS WITH VERIFIED ANSWERS GRADED A+
ASSURED SUCCESS
1. What is the Micro-purhcase threshold for supplies?
*Answer√√ $10k
2. All incentive contracts (schedule or performance) must also include what?
*Answer√√ -
Cost incentive or constraint
3. What requires funds to be used only for needs or services in the year of the
appropriations obligation period?
*Answer√√ Bona Fide Needs Rule
4. What contract types can be used for commercial item purchases?
*Answer√√ FFP or FPEPA
5. 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
6. True or False
,CON 3990 EXAM 2025 2026 UPDATED MOST TESTED
QUESTIONS WITH VERIFIED ANSWERS GRADED A+
ASSURED SUCCESS
*Answer√√ The Gov shall use electronic commerce whenever practicable or
cost-effective
*Answer√√ True
7. 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
8. Can contract files be combined if appropriate?
*Answer√√ Yes
9. At what level are contract files maintained and why?
*Answer√√ Maintained at the organizational level to ensure
ettective documentation of contract actions
accessibility by principal users
minimal establishment of duplicate and working files
,CON 3990 EXAM 2025 2026 UPDATED MOST TESTED
QUESTIONS WITH VERIFIED ANSWERS GRADED A+
ASSURED SUCCESS
safeguarding classified docs
conformance with agency regs
10. When is a SAP contract file closed out?
*Answer√√ When the KO receives evidence of receipt of property or final payment
11. 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
12. 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
13. 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
, CON 3990 EXAM 2025 2026 UPDATED MOST TESTED
QUESTIONS WITH VERIFIED ANSWERS GRADED A+
ASSURED SUCCESS
14. 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
15. What are the steps to close out a contract file?
*Answer√√ 1) Contract admin oflce 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 oflce
16. How long are contract documents retained after closeout?
*Answer√√ 6 years after final payment
17. What does a KO need prior to commencement of negotiations for a sole
QUESTIONS WITH VERIFIED ANSWERS GRADED A+
ASSURED SUCCESS
1. What is the Micro-purhcase threshold for supplies?
*Answer√√ $10k
2. All incentive contracts (schedule or performance) must also include what?
*Answer√√ -
Cost incentive or constraint
3. What requires funds to be used only for needs or services in the year of the
appropriations obligation period?
*Answer√√ Bona Fide Needs Rule
4. What contract types can be used for commercial item purchases?
*Answer√√ FFP or FPEPA
5. 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
6. True or False
,CON 3990 EXAM 2025 2026 UPDATED MOST TESTED
QUESTIONS WITH VERIFIED ANSWERS GRADED A+
ASSURED SUCCESS
*Answer√√ The Gov shall use electronic commerce whenever practicable or
cost-effective
*Answer√√ True
7. 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
8. Can contract files be combined if appropriate?
*Answer√√ Yes
9. At what level are contract files maintained and why?
*Answer√√ Maintained at the organizational level to ensure
ettective documentation of contract actions
accessibility by principal users
minimal establishment of duplicate and working files
,CON 3990 EXAM 2025 2026 UPDATED MOST TESTED
QUESTIONS WITH VERIFIED ANSWERS GRADED A+
ASSURED SUCCESS
safeguarding classified docs
conformance with agency regs
10. When is a SAP contract file closed out?
*Answer√√ When the KO receives evidence of receipt of property or final payment
11. 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
12. 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
13. 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
, CON 3990 EXAM 2025 2026 UPDATED MOST TESTED
QUESTIONS WITH VERIFIED ANSWERS GRADED A+
ASSURED SUCCESS
14. 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
15. What are the steps to close out a contract file?
*Answer√√ 1) Contract admin oflce 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 oflce
16. How long are contract documents retained after closeout?
*Answer√√ 6 years after final payment
17. What does a KO need prior to commencement of negotiations for a sole
