CON 1400V - Final Exam Questions and
Correct Answers
Question 1
What is the best description of the supply chain management concept?
The process that ensures maximum value is received for the cost that an organization
pays suppliers
A focus on purchasing and procurement
A focus on the cumulative activities of multiple organizations in order to increase
customer value and secure a sustainable competitive advantage
A focus on a single entity, typically only with first-tier suppliers
Correct Answer
A focus on the cumulative activities of multiple organizations in order to increase
customer value and secure a sustainable competitive advantage
Question 2
What is the DCMA's role during contract closeout?
Ensure disposition of classified materials and the final patent report is cleared
Complete contract funds review and de-obligate any excess funds
Making final indirect cost rate determinations and generate property clearance
Audit annual indirect cost rates
Correct Answer
Making final indirect cost rate determinations and generate property clearance
Question 3
True or False: According to FAR part 46, the contractor is responsible for ensuring that
control of quality requirements is within the contract.
True
False
Correct Answer
False
Page 1 of 14
, Question 4
When does the contracting officer request a reconciliation audit?
On complex, long running contracts with many deliveries, payments, and
modifications
When a contract modification was not processed
On contracts where discounts taken are not reported as excess funds
Whenever services were not performed
Correct Answer
On complex, long running contracts with many deliveries, payments, and
modifications
Question 5
What part of the FAR is critical in mitigating risks?
FAR Part 33 prescribes policies and procedures for filing protests and for processing
contract disputes and appeals.
FAR Part 52 gives instructions for using provisions and clauses in solicitations and/or
contracts
FAR Part 42 prescribes policies and procedures for preparing and processing contract
modifications for all types of contracts including construction and architect-engineer
contracts
FAR Part 46 ensures that supplies and services acquired under government contract
conform to the contract's quality and quantity requirements and it lets all parties
know their role in the execution of the contract and it sets forth the policies at the
federal level
Correct Answer
FAR Part 46 ensures that supplies and services acquired under government contract
conform to the contract's quality and quantity requirements and it lets all parties
know their role in the execution of the contract and it sets forth the policies at the
federal level
Page 2 of 14
Correct Answers
Question 1
What is the best description of the supply chain management concept?
The process that ensures maximum value is received for the cost that an organization
pays suppliers
A focus on purchasing and procurement
A focus on the cumulative activities of multiple organizations in order to increase
customer value and secure a sustainable competitive advantage
A focus on a single entity, typically only with first-tier suppliers
Correct Answer
A focus on the cumulative activities of multiple organizations in order to increase
customer value and secure a sustainable competitive advantage
Question 2
What is the DCMA's role during contract closeout?
Ensure disposition of classified materials and the final patent report is cleared
Complete contract funds review and de-obligate any excess funds
Making final indirect cost rate determinations and generate property clearance
Audit annual indirect cost rates
Correct Answer
Making final indirect cost rate determinations and generate property clearance
Question 3
True or False: According to FAR part 46, the contractor is responsible for ensuring that
control of quality requirements is within the contract.
True
False
Correct Answer
False
Page 1 of 14
, Question 4
When does the contracting officer request a reconciliation audit?
On complex, long running contracts with many deliveries, payments, and
modifications
When a contract modification was not processed
On contracts where discounts taken are not reported as excess funds
Whenever services were not performed
Correct Answer
On complex, long running contracts with many deliveries, payments, and
modifications
Question 5
What part of the FAR is critical in mitigating risks?
FAR Part 33 prescribes policies and procedures for filing protests and for processing
contract disputes and appeals.
FAR Part 52 gives instructions for using provisions and clauses in solicitations and/or
contracts
FAR Part 42 prescribes policies and procedures for preparing and processing contract
modifications for all types of contracts including construction and architect-engineer
contracts
FAR Part 46 ensures that supplies and services acquired under government contract
conform to the contract's quality and quantity requirements and it lets all parties
know their role in the execution of the contract and it sets forth the policies at the
federal level
Correct Answer
FAR Part 46 ensures that supplies and services acquired under government contract
conform to the contract's quality and quantity requirements and it lets all parties
know their role in the execution of the contract and it sets forth the policies at the
federal level
Page 2 of 14
