CON 3900 Administer Contracts test questions and answers.

The CO is a person with the authority to enter into, administer, and/or terminate contracts and make related determinations and findings. True What part of teh FAR prescribes policies and procedures for assigning and perofrming contract administration and contract audit services? 42 The CO may delegate additional functions to the CAO beyond those listed in FAR 42.302 False In a postaward meeting, the CO will conduct a preliminary meeting of government personnel and will designate or act as teh chairperson at the conference. True or Fals1 True What should the contract management plan include, other than being as simple and precise as possible? What must me done. When it must take place. Who must do it. How it is to be accomplished. Where it is to be accomplished. True or False: The COR plays an important role in the postaward phase of the acquisition and is the eyes and ears of the contracting officer. True True or False: The DD Form 1484A may be used in conducting the conference and in preparing the conference report. True True or False: All invoice payments, with the exception of interim payments on cost reimbursement contracts for services, must be supported by a receiving report or other goverment documentation authorizing payment. True The government will not make invoice payment earlier than 7 days prior to the due dates specified in the contract unless what is determined by the agency head? To make earlier payment on a case-by-case basis. That the use of accelerated payment methods are necessary. What are some examples of contract financing methods? Progress payment. Loan Guarantees. Performance base payments. Advanced payments. Partial Delivery Payments. Contracting Officers can only provide property to contractors when what is clearly demonstrated? It is in the government's best interest. Overal benefit significantly outweighs the increased cost of admin. Does not substantially increase the gov'ts assumption of risk. Goverment requirments cannot otherwise be met. True or False: Government property shall normall be provided on a rent-free basis in performance of the contract under which it is accountable or otherwise authorized. True True or Fall: Contractors are held liable for loss of government property. False True or False: The rate cycle process all starts when the contractor submits a forward pricing rate proposal (FPRP) at the beginning of an accounting period. DCAA and DCMA taket hat proposal through a rpocess that will ultimately lead to a Forward Processing Rate Agreement (FPRA) True True or False: Billing rates are used to adjust and close out contracts False: Billing rates provide a mother for interim reimbursement of indirect costs at estimated rates. What is true about billing rates as an indirect cost rate? They are established temporarily for interim reimbursement of incurred indirect costs. They are adjusted as necessary pedning establishment of final indirect cost rates. Are indirect costs the same as final rates? No Final indrect cost rates are established on what basis? Contracting officer determination procedure and auditor dermination procedure Who is involved in performance managment? Customer. Stakeholders. Contractor. True or False: A stakeholder is anyone with an interest in teh acquisition and its outcome. True True or False: Governance are individuals or organizations that must approve the requirement and acquisition strategies and may be in the contracting organization or requiring activity. True True or False: A good understanding of the "as is state" or baseline (including current, past, and forecacasted requirements, processes, performance, and spending) can help the acquisition team mroe effectively develop plans and actions that will improve performance of the new requirement and implementation strategy. True