CON 3990 Exam Questions and Answers.pdf

CON 3990 Exam Questions and Answers




CON 3990 Exam Questions and Answers
Question 1
What is the Micro-purhcase threshold for supplies?

Correct Answer
$10k



Question 2
All incentive contracts (schedule or performance) must also include what?
Correct Answer
Cost incentive or constraint



Question 3
What requires funds to be used only for needs or services in the year of the
appropriations obligation period?
Correct Answer
Bona Fide Needs Rule



Question 4
What contract types can be used for commercial item purchases?
Correct Answer
FFP or FPEPA



Question 5
What is the Simplified Acquisition Threshold for commercial products and services?
What is it for non-commercial?
Correct Answer
$7.5M - commercial $250k for non-commercial




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, CON 3990 Exam Questions and Answers




Question 6
True or False: The Gov shall use electronic commerce whenever practicable or cost-
effective
Correct Answer
True



Question 7
What is the purpose of a contract file? (4)
Correct Answer
Provide background/basis for decisions
Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a litigation



Question 8
Can contract files be combined if appropriate?
Correct Answer
Yes



Question 9
At what level are contract files maintained and why?
Correct 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



Question 10
When is a SAP contract file closed out?
Correct Answer
When the KO receives evidence of receipt of property or final payment




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, CON 3990 Exam Questions and Answers




Question 11
When is a FFP (not SAP) contract file closed out?
Correct Answer
Should be closed out within 6 months after date KO receives evidence of physical
completion



Question 12
When should contract files required settlement of indirect cost rates be closed out?
Correct Answer
Within 36 months of the month the KO receives evidence of physical completion



Question 13
When should all other (not SAP, FFP, or indirect cost rate) contract files be closed?
Correct Answer
Within 20 months of the month the KO receives evidence of physical completion



Question 14
When is a contract considered physically complete?
Correct 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




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, CON 3990 Exam Questions and Answers




Question 15
What are the steps to close out a contract file?
Correct 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



Question 16
How long are contract documents retained after closeout?
Correct Answer
6 years after final payment



Question 17
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?
Correct Answer
Justification and Approval which justifies the actions in writing, certifies the accuracy
and completeness of the justifications and obtains the approval required



Question 18
The KO shall not award a sole-source contract for an amount exceeding $25M unless
Correct Answer
they have a signed Justification and Approval




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