1|Page
CON 3990 Exam Newest 2025/2026 With Complete
200 Questions And Correct Answers |Already
Graded A+||Brand New Version!|
What is the Micro-purhcase threshold for supplies? -
...ANSWER...✔✔$10k
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
,2|Page
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
,3|Page
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
, 4|Page
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 -
CON 3990 Exam Newest 2025/2026 With Complete
200 Questions And Correct Answers |Already
Graded A+||Brand New Version!|
What is the Micro-purhcase threshold for supplies? -
...ANSWER...✔✔$10k
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
,2|Page
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
,3|Page
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
, 4|Page
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 -
