Each authority is delegable unless specifically stated otherwise - ANSWER True
There are 53 parts of the FAR - ANSWER True
The contracting administration is responsible for initiating administrative closeout of the
contract after receiving... - ANSWER Evidence of its physical completion
Agencies are required to hold contract files in the office responsible for maintaining them
for... - ANSWER A period of 12 months
A contract is considered physically complete when the contractor has completed all required
deliveries and/or performed all services and these services and/or items have been accepted
by the Government. If the contract has options, then all options have also been expired. -
ANSWER True
Files for contracts requiring settlement of indirect cost rates should be closed within 36
months of the month in which the contracting officer receives evidence of physical
completion - ANSWER True
Files for firm-fixed price contracts, other than those using simplified acquisition procedures,
should be closed within 6 months after the date on which the contracting officer receives
evidence of physical completion - ANSWER True
Files for contracts using simplified acquisition procedures should be considered closed when
the contracting officer receives evidence of receipt of property and final payment, unless
otherwise specified by agency regulations - ANSWER True
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There are 53 parts of the FAR - ANSWER True
The contracting administration is responsible for initiating administrative closeout of the
contract after receiving... - ANSWER Evidence of its physical completion
Agencies are required to hold contract files in the office responsible for maintaining them
for... - ANSWER A period of 12 months
A contract is considered physically complete when the contractor has completed all required
deliveries and/or performed all services and these services and/or items have been accepted
by the Government. If the contract has options, then all options have also been expired. -
ANSWER True
Files for contracts requiring settlement of indirect cost rates should be closed within 36
months of the month in which the contracting officer receives evidence of physical
completion - ANSWER True
Files for firm-fixed price contracts, other than those using simplified acquisition procedures,
should be closed within 6 months after the date on which the contracting officer receives
evidence of physical completion - ANSWER True
Files for contracts using simplified acquisition procedures should be considered closed when
the contracting officer receives evidence of receipt of property and final payment, unless
otherwise specified by agency regulations - ANSWER True
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