ESTUDYR
CON 3990V CONTRACTING CERTIFICATION UPDATED EXAM
WITH MOST TESTED QUESTIONS AND ANSWERS | GRADED A+
| ASSURED SUCCESS WITH DETAILED RATIONALES
1. What is the Micro-purhcase threshold for supplies?
business strategy and operating procedures even though they are aware the Gov must follow laws
and regulations
The Gov and the Contractor
$10k ✓
Something of value that a promisor receives from the promisee in return for his or her offer.
Rationale: The correct answer is '$10k' based on the provided information.
__________________________________________________
2. All incentive contracts (schedule or performance) must also include what?
nature of the item and its components that the contractor warrants
issued after cure notice or when insufficient time to send both (less than 10 days)
requests for technical proposals/no pricing is involved
Cost incentive or constraint ✓
Rationale: The correct answer is 'Cost incentive or constraint' based on the provided information.
__________________________________________________
3. What requires funds to be used only for needs or services in the year of the appropriations
obligation period?
conducted at specific points during aq process, provide deeper understanding to answer specific
questions
time needed to discover defects
Bona Fide Needs Rule ✓
Non-Disclosure Agreement
Rationale: The correct answer is 'Bona Fide Needs Rule' based on the provided information.
__________________________________________________
,ESTUDYR
4. What contract types can be used for commercial item purchases?
FFP or FPEPA ✓
made accessible to the public via Federal Procurement Data System (FPDS) if
proposed price reductions under OTHER contracts or consider losses or profits realized under
OTHER contracts
Form the team
Rationale: The correct answer is 'FFP or FPEPA' based on the provided information.
__________________________________________________
5. What is the Simplified Acquisition Threshold for commercial products and services? What is it for
non-commercial?
restrict competition
KO to make unilateral changes in general scope of contract
$7.5M - commercial $250k for non-commercial ✓
issued after cure notice or when insufficient time to send both (less than 10 days)
Rationale: The correct answer is '$7.5M - commercial $250k for non-commercial' based on the provided
information.
__________________________________________________
6. True or False: The Gov shall use electronic commerce whenever practicable or cost-effective
True ✓
False
Rationale: The statement is true as per the provided text: 'True'.
__________________________________________________
7. What is the purpose of a contract file? (4)
Award/Contract - used to award negotiated contracts in which signatures of both parties on a single
document is appropriate
**Provide background/basis for decisions
establishing or maintain alternative sources
collecting and analyzing information about capabilities within the market to satisfy agency needs
,ESTUDYR
Rationale: The correct answer is 'Provide background/basis for decisions
__________________________________________________
8. Can contract files be combined if appropriate?
integrity, fairness, and openness
reduce admin costs
Yes ✓
obtain certified cost or pricing date when necessary or obtain other than certified cost or pricing
data
Rationale: The correct answer is 'Yes' based on the provided information.
__________________________________________________
9. At what level are contract files maintained and why?
Cost, quality, and timeliness of products and services
only one responsible source
**Maintained at the organizational level to ensure
after initial procurement
Rationale: The correct answer is 'Maintained at the organizational level to ensure
__________________________________________________
10. When is a SAP contract file closed out?
When the KO receives evidence of receipt of property or final payment ✓
Award/Contract - used to award negotiated contracts in which signatures of both parties on a single
document is appropriate
Cure notice
adjustments based on established prices
Rationale: The correct answer is 'When the KO receives evidence of receipt of property or final
payment' based on the provided information.
__________________________________________________
, ESTUDYR
11. When is a FFP (not SAP) contract file closed out?
under $750 - KO approval
give Gov and KTR clear and mutual understanding of all contract requirements
Should be closed out within 6 months after date KO receives evidence of physical completion ✓
the KTR shall not be in default because of any failure to perform the contract under its terms if the
failure arises from causes beyond the control and without fault or negligence of the Contractor,
except for defaults of subcontractors at any tier
Rationale: The correct answer is 'Should be closed out within 6 months after date KO receives evidence
of physical completion' based on the provided information.
__________________________________________________
12. When should contract files required settlement of indirect cost rates be closed out?
from high to low as requirement progresses from vague to well-defined and uncertainty regaurding
geasibility cost/time decreases
market prices at risk are serverable and significant
Within 36 months of the month the KO receives evidence of physical completion ✓
to delineate rights and obligations of the KTR and the Gov for defective items
Rationale: The correct answer is 'Within 36 months of the month the KO receives evidence of physical
completion' based on the provided information.
__________________________________________________
13. When should all other (not SAP, FFP, or indirect cost rate) contract files be closed?
$7.5M - commercial $250k for non-commercial
Cost type is for unknown parameters (R&D, no definite schedule or quantity)
issued after cure notice or when insufficient time to send both (less than 10 days)
Within 20 months of the month the KO receives evidence of physical completion ✓
Rationale: The correct answer is 'Within 20 months of the month the KO receives evidence of physical
completion' based on the provided information.
__________________________________________________
14. When is a contract considered physically complete?
CON 3990V CONTRACTING CERTIFICATION UPDATED EXAM
WITH MOST TESTED QUESTIONS AND ANSWERS | GRADED A+
| ASSURED SUCCESS WITH DETAILED RATIONALES
1. What is the Micro-purhcase threshold for supplies?
business strategy and operating procedures even though they are aware the Gov must follow laws
and regulations
The Gov and the Contractor
$10k ✓
Something of value that a promisor receives from the promisee in return for his or her offer.
Rationale: The correct answer is '$10k' based on the provided information.
__________________________________________________
2. All incentive contracts (schedule or performance) must also include what?
nature of the item and its components that the contractor warrants
issued after cure notice or when insufficient time to send both (less than 10 days)
requests for technical proposals/no pricing is involved
Cost incentive or constraint ✓
Rationale: The correct answer is 'Cost incentive or constraint' based on the provided information.
__________________________________________________
3. What requires funds to be used only for needs or services in the year of the appropriations
obligation period?
conducted at specific points during aq process, provide deeper understanding to answer specific
questions
time needed to discover defects
Bona Fide Needs Rule ✓
Non-Disclosure Agreement
Rationale: The correct answer is 'Bona Fide Needs Rule' based on the provided information.
__________________________________________________
,ESTUDYR
4. What contract types can be used for commercial item purchases?
FFP or FPEPA ✓
made accessible to the public via Federal Procurement Data System (FPDS) if
proposed price reductions under OTHER contracts or consider losses or profits realized under
OTHER contracts
Form the team
Rationale: The correct answer is 'FFP or FPEPA' based on the provided information.
__________________________________________________
5. What is the Simplified Acquisition Threshold for commercial products and services? What is it for
non-commercial?
restrict competition
KO to make unilateral changes in general scope of contract
$7.5M - commercial $250k for non-commercial ✓
issued after cure notice or when insufficient time to send both (less than 10 days)
Rationale: The correct answer is '$7.5M - commercial $250k for non-commercial' based on the provided
information.
__________________________________________________
6. True or False: The Gov shall use electronic commerce whenever practicable or cost-effective
True ✓
False
Rationale: The statement is true as per the provided text: 'True'.
__________________________________________________
7. What is the purpose of a contract file? (4)
Award/Contract - used to award negotiated contracts in which signatures of both parties on a single
document is appropriate
**Provide background/basis for decisions
establishing or maintain alternative sources
collecting and analyzing information about capabilities within the market to satisfy agency needs
,ESTUDYR
Rationale: The correct answer is 'Provide background/basis for decisions
__________________________________________________
8. Can contract files be combined if appropriate?
integrity, fairness, and openness
reduce admin costs
Yes ✓
obtain certified cost or pricing date when necessary or obtain other than certified cost or pricing
data
Rationale: The correct answer is 'Yes' based on the provided information.
__________________________________________________
9. At what level are contract files maintained and why?
Cost, quality, and timeliness of products and services
only one responsible source
**Maintained at the organizational level to ensure
after initial procurement
Rationale: The correct answer is 'Maintained at the organizational level to ensure
__________________________________________________
10. When is a SAP contract file closed out?
When the KO receives evidence of receipt of property or final payment ✓
Award/Contract - used to award negotiated contracts in which signatures of both parties on a single
document is appropriate
Cure notice
adjustments based on established prices
Rationale: The correct answer is 'When the KO receives evidence of receipt of property or final
payment' based on the provided information.
__________________________________________________
, ESTUDYR
11. When is a FFP (not SAP) contract file closed out?
under $750 - KO approval
give Gov and KTR clear and mutual understanding of all contract requirements
Should be closed out within 6 months after date KO receives evidence of physical completion ✓
the KTR shall not be in default because of any failure to perform the contract under its terms if the
failure arises from causes beyond the control and without fault or negligence of the Contractor,
except for defaults of subcontractors at any tier
Rationale: The correct answer is 'Should be closed out within 6 months after date KO receives evidence
of physical completion' based on the provided information.
__________________________________________________
12. When should contract files required settlement of indirect cost rates be closed out?
from high to low as requirement progresses from vague to well-defined and uncertainty regaurding
geasibility cost/time decreases
market prices at risk are serverable and significant
Within 36 months of the month the KO receives evidence of physical completion ✓
to delineate rights and obligations of the KTR and the Gov for defective items
Rationale: The correct answer is 'Within 36 months of the month the KO receives evidence of physical
completion' based on the provided information.
__________________________________________________
13. When should all other (not SAP, FFP, or indirect cost rate) contract files be closed?
$7.5M - commercial $250k for non-commercial
Cost type is for unknown parameters (R&D, no definite schedule or quantity)
issued after cure notice or when insufficient time to send both (less than 10 days)
Within 20 months of the month the KO receives evidence of physical completion ✓
Rationale: The correct answer is 'Within 20 months of the month the KO receives evidence of physical
completion' based on the provided information.
__________________________________________________
14. When is a contract considered physically complete?
