CON 3990 FINAL EXAM SCRIPT 2026
COMPLETE QUESTIONS AND SOLUTIONS
◉All incentive contracts (schedule or performance) must also include
what? Answer: Cost incentive or constraint
◉What requires funds to be used only for needs or services in the year
of the appropriations obligation period? Answer: Bona Fide Needs Rule
◉What contract types can be used for commercial item purchases?
Answer: FFP or FPEPA
◉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
◉True or False: The Gov shall use electronic commerce whenever
practicable or cost-effective Answer: True
◉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
◉Can contract files be combined if appropriate? Answer: Yes
◉At what level are contract files maintained and why? Answer:
Maintained at the organizational level to ensure
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 out? Answer: When the KO
receives evidence of receipt of property or final payment
◉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
◉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
,◉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
◉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
◉What are the steps to close out a contract file? Answer: 1) Contract
admin office 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 office
◉How long are contract documents retained after closeout? Answer: 6
years after final payment
◉What does a KO need prior to commencement of negotiations for a
sole source contract, commencement of negotiations for a contract
resulting from an unsolicited proposal, or award without providing for
full and open competition? Answer: Justification and Approval which
, justifies the actions in writing, certifies the accuracy and completeness
of the justifications and obtains the approval required
◉The KO shall not award a sole-source contract for an amount
exceeding $25M unless Answer: they have a signed Justification and
Approval
◉A J&A should include Answer: Description of action being approved
Description of supplies or services required + estimated value
statutory authority permitting other than full and open comp
demonstrate why specific KTR is required (instead of comp)
efforts made to solicit offers from other sources
determination of fair and reasonable anticipated cost
description of market research conducted
list of sources that expressed interest
statement of how agency may remove comp barriers in the future
KO certification
◉What are the thresholds for J&A approval Answer: under $750 - KO
approval
over $750k and under $100M - HCA
over $100M - senior procurement executive
COMPLETE QUESTIONS AND SOLUTIONS
◉All incentive contracts (schedule or performance) must also include
what? Answer: Cost incentive or constraint
◉What requires funds to be used only for needs or services in the year
of the appropriations obligation period? Answer: Bona Fide Needs Rule
◉What contract types can be used for commercial item purchases?
Answer: FFP or FPEPA
◉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
◉True or False: The Gov shall use electronic commerce whenever
practicable or cost-effective Answer: True
◉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
◉Can contract files be combined if appropriate? Answer: Yes
◉At what level are contract files maintained and why? Answer:
Maintained at the organizational level to ensure
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 out? Answer: When the KO
receives evidence of receipt of property or final payment
◉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
◉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
,◉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
◉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
◉What are the steps to close out a contract file? Answer: 1) Contract
admin office 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 office
◉How long are contract documents retained after closeout? Answer: 6
years after final payment
◉What does a KO need prior to commencement of negotiations for a
sole source contract, commencement of negotiations for a contract
resulting from an unsolicited proposal, or award without providing for
full and open competition? Answer: Justification and Approval which
, justifies the actions in writing, certifies the accuracy and completeness
of the justifications and obtains the approval required
◉The KO shall not award a sole-source contract for an amount
exceeding $25M unless Answer: they have a signed Justification and
Approval
◉A J&A should include Answer: Description of action being approved
Description of supplies or services required + estimated value
statutory authority permitting other than full and open comp
demonstrate why specific KTR is required (instead of comp)
efforts made to solicit offers from other sources
determination of fair and reasonable anticipated cost
description of market research conducted
list of sources that expressed interest
statement of how agency may remove comp barriers in the future
KO certification
◉What are the thresholds for J&A approval Answer: under $750 - KO
approval
over $750k and under $100M - HCA
over $100M - senior procurement executive
