CON 3990 Exam Ques ons and answers Newest RATED
A+ NEW!! 2025/2026
What is the Micro-purhcase threshold for supplies? - Answers $10k
All incen ve contracts (schedule or performance) must also include what? - Answers Cost
incen ve or constraint
What requires funds to be used only for needs or services in the year of the appropria ons
obliga on period? - Answers Bona Fide Needs Rule
What contract types can be used for commercial item purchases? - Answers FFP or FPEPA
What is the Simplified Acquisi on Threshold for commercial products and services? What is it
for non-commercial? - Answers $7.5M - commercial $250k for non-commercial
True or False: The Gov shall use electronic commerce whenever prac cable or cost-effec ve -
Answers True
What is the purpose of a contract file? (4) - Answers Provide background/basis for decisions
Suppor ng ac ons taken
Provide informa on for reviews and inves ga ons
Furnishing essen al facts in the event of a li ga on
Can contract files be combined if appropriate? - Answers Yes
,At what level are contract files maintained and why? - Answers Maintained at the
organiza onal level to ensure
effec ve documenta on of contract ac ons
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? - Answers When the KO receives evidence of receipt
of property or final payment
When is a FFP (not SAP) contract file closed out? - Answers Should be closed out within 6
months a<er date KO receives evidence of physical comple on
When should contract files required se=lement of indirect cost rates be closed out? - Answers
Within 36 months of the month the KO receives evidence of physical comple on
When should all other (not SAP, FFP, or indirect cost rate) contract files be closed? - Answers
Within 20 months of the month the KO receives evidence of physical comple on
When is a contract considered physically complete? - Answers 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 op on provisions, if any, have expired
or the Gov gives the KTR no ce of termina on
What are the steps to close out a contract file? - Answers 1) Contract admin office is
responsible for ini a ng, reviewing contract fund status, and deobliga ng excess funds
, 2)KO issues a contract comple ons statement
3) KO files completed statement and signed copy send to admin office
How long are contract documents retained a<er closeout? - Answers 6 years a<er final
payment
What does a KO need prior to commencement of nego a ons for a sole source contract,
commencement of nego a ons for a contract resul ng from an unsolicited proposal, or award
without providing for full and open compe on? - Answers Jus fica on and Approval which
jus fies the ac ons in wri ng, cer fies the accuracy and completeness of the jus fica ons and
obtains the approval required
The KO shall not award a sole-source contract for an amount exceeding $25M unless - Answers
they have a signed Jus fica on and Approval
A J&A should include - Answers Descrip on of ac on being approved
Descrip on of supplies or services required + es mated value
statutory authority permiHng other than full and open comp
demonstrate why specific KTR is required (instead of comp)
efforts made to solicit offers from other sources
determina on of fair and reasonable an cipated cost
descrip on of market research conducted
list of sources that expressed interest
statement of how agency may remove comp barriers in the future
KO cer fica on
What are the thresholds for J&A approval - Answers under $750 - KO approval
over $750k and under $100M - HCA
A+ NEW!! 2025/2026
What is the Micro-purhcase threshold for supplies? - Answers $10k
All incen ve contracts (schedule or performance) must also include what? - Answers Cost
incen ve or constraint
What requires funds to be used only for needs or services in the year of the appropria ons
obliga on period? - Answers Bona Fide Needs Rule
What contract types can be used for commercial item purchases? - Answers FFP or FPEPA
What is the Simplified Acquisi on Threshold for commercial products and services? What is it
for non-commercial? - Answers $7.5M - commercial $250k for non-commercial
True or False: The Gov shall use electronic commerce whenever prac cable or cost-effec ve -
Answers True
What is the purpose of a contract file? (4) - Answers Provide background/basis for decisions
Suppor ng ac ons taken
Provide informa on for reviews and inves ga ons
Furnishing essen al facts in the event of a li ga on
Can contract files be combined if appropriate? - Answers Yes
,At what level are contract files maintained and why? - Answers Maintained at the
organiza onal level to ensure
effec ve documenta on of contract ac ons
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? - Answers When the KO receives evidence of receipt
of property or final payment
When is a FFP (not SAP) contract file closed out? - Answers Should be closed out within 6
months a<er date KO receives evidence of physical comple on
When should contract files required se=lement of indirect cost rates be closed out? - Answers
Within 36 months of the month the KO receives evidence of physical comple on
When should all other (not SAP, FFP, or indirect cost rate) contract files be closed? - Answers
Within 20 months of the month the KO receives evidence of physical comple on
When is a contract considered physically complete? - Answers 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 op on provisions, if any, have expired
or the Gov gives the KTR no ce of termina on
What are the steps to close out a contract file? - Answers 1) Contract admin office is
responsible for ini a ng, reviewing contract fund status, and deobliga ng excess funds
, 2)KO issues a contract comple ons statement
3) KO files completed statement and signed copy send to admin office
How long are contract documents retained a<er closeout? - Answers 6 years a<er final
payment
What does a KO need prior to commencement of nego a ons for a sole source contract,
commencement of nego a ons for a contract resul ng from an unsolicited proposal, or award
without providing for full and open compe on? - Answers Jus fica on and Approval which
jus fies the ac ons in wri ng, cer fies the accuracy and completeness of the jus fica ons and
obtains the approval required
The KO shall not award a sole-source contract for an amount exceeding $25M unless - Answers
they have a signed Jus fica on and Approval
A J&A should include - Answers Descrip on of ac on being approved
Descrip on of supplies or services required + es mated value
statutory authority permiHng other than full and open comp
demonstrate why specific KTR is required (instead of comp)
efforts made to solicit offers from other sources
determina on of fair and reasonable an cipated cost
descrip on of market research conducted
list of sources that expressed interest
statement of how agency may remove comp barriers in the future
KO cer fica on
What are the thresholds for J&A approval - Answers under $750 - KO approval
over $750k and under $100M - HCA
