CTCM Exam Prep |Newest 2025/2026
Complete Questions And Correct Answers
(Verified Answers)|Brand New Version!
Contract Value - ✔✔✔ ANSWER-the initial value of the contract, plus any amendments,
renewals and extensions for the contract's full existence.
A contract with an initial value of $2 million, with three (3) optional, annual renewals of the
same amount. What is the contract value? - ✔✔✔ ANSWER-8 Million
Termination - ✔✔✔ ANSWER-Mutual Agreement
Convenience
Cause
Non-Appropriation
Termination by Mutual Agreement - ✔✔✔ ANSWER-when both parties consent to
termination before expiration date
Termination for Convenience - ✔✔✔ ANSWER-AKA no-fault termination, allows a party to
terminate any contract in whole/in part at any time in its sole discretion
Termination for Cause - ✔✔✔ ANSWER-Cure notice: sending vendor a letter from agency
telling them they are in breach of contract, give timeframe for vendor to fix the issue
Corrective Action Plan
,Termination for Non-Appropriation: - ✔✔✔ ANSWER-"funding out" clause, when contract
term crosses into another fiscal year. Sometimes we use it when there are no funds lol
Contract Close-Out - ✔✔✔ ANSWER-Both parties have fulfilled contractual obligations,
inspect, test, and accept
What happens in Contract Close-Out - ✔✔✔ ANSWER-all goods or services have been
received and accepted
all reports have been delivered and accepted
All administrative actions have been accomplished
all agency-furnished equipment and materials have been returned
all property inventory and ownership issues are resolved
final acceptance from the project manager has been received
final payment has been made to the contractor
Vendor Performance Reporting Requirements - ✔✔✔ ANSWER-A contractor's
performance must be reported within 30 days to VPTS once a contract with a value of over
$25,000 is completed or otherwise terminated.
If the value of the contract exceeds $5 million, the agency must review the contractor's
performance at least once each year during the term of the contract and at each key
milestone identified for the contract.
Report Score - ✔✔✔ ANSWER-The score the agency assigns to a vendor for one
particular vendor performance report (VPR)
,Vendor Score - ✔✔✔ ANSWER-The score calculated by averaging all of a vendor's report
scores to provide an overall vendor score
VPTS: Satisfying Best Value Standard - ✔✔✔ ANSWER-Be aware of the best value
criteria used to award the contract.
When assigning a VPTS score for a contractor, part of that determination is if they met the
best value standard.
VPTS - Vendor Scoring Guide (A) - ✔✔✔ ANSWER-Vendor significantly exceeded the
requirements of the purchase order.
Any problems with the contract were minor and corrective action was highly effective.
Satisfied best-value standard
Don't have to be perfect
VPTS - Vendor Scoring Guide (B) - ✔✔✔ ANSWER-Vendor exceeded some requirements
of the purchase order/contract.
Any problems with the contract were minor and corrective actions taken by the vendor were
effective.
Satisfied best-value standard
VPTS - Vendor Scoring Guide 'C' - ✔✔✔ ANSWER-Vendor met the requirements of the
purchase order/contract.
Corrective actions taken by the vendor to address minor problems were satisfactory.
Satisfied best-value standard
VPTS - Vendor Scoring Guide (D) - ✔✔✔ ANSWER-Vendor did not meet some of the
requirements of the purchase order or contract.
, Problems were serious and corrective action was marginally effective or not fully
implemented.
Did not satisfy best-value standard
VPTS - Vendor Scoring Guide (F) - ✔✔✔ ANSWER-Vendor did not meet the requirements
of the purchase order or contract.
Problems were serious and corrective actions taken by the vendor to address the problems
were ineffective.
Did not satisfy best-value standard
VPTS: Process - ✔✔✔ ANSWER-"A, B and C" reports will post automatically.
Report grades of "D" and "F": a vendor may submit a vendor response within 30 calendar
days.
Vendors can formally protest a score of "D" or "F" within 10 days of report posting.
Unsatisfactory vendor performance issues involving material misrepresentations, fraud
and/or breach of contract may require the contracting agency to determine whether
debarment of the vendor is in the best interest of the agency.
At what dollar amount are you required to report on the VPTS? - ✔✔✔ ANSWER-$25,000
What is best practice? - ✔✔✔ ANSWER-Report throughout the contract
When do you have to do VTPS? - ✔✔✔ ANSWER-30 Days of completion or termination
What is the requirement if the contract exceeds $5 million? - ✔✔✔ ANSWER-Annually &
milestones
Complete Questions And Correct Answers
(Verified Answers)|Brand New Version!
Contract Value - ✔✔✔ ANSWER-the initial value of the contract, plus any amendments,
renewals and extensions for the contract's full existence.
A contract with an initial value of $2 million, with three (3) optional, annual renewals of the
same amount. What is the contract value? - ✔✔✔ ANSWER-8 Million
Termination - ✔✔✔ ANSWER-Mutual Agreement
Convenience
Cause
Non-Appropriation
Termination by Mutual Agreement - ✔✔✔ ANSWER-when both parties consent to
termination before expiration date
Termination for Convenience - ✔✔✔ ANSWER-AKA no-fault termination, allows a party to
terminate any contract in whole/in part at any time in its sole discretion
Termination for Cause - ✔✔✔ ANSWER-Cure notice: sending vendor a letter from agency
telling them they are in breach of contract, give timeframe for vendor to fix the issue
Corrective Action Plan
,Termination for Non-Appropriation: - ✔✔✔ ANSWER-"funding out" clause, when contract
term crosses into another fiscal year. Sometimes we use it when there are no funds lol
Contract Close-Out - ✔✔✔ ANSWER-Both parties have fulfilled contractual obligations,
inspect, test, and accept
What happens in Contract Close-Out - ✔✔✔ ANSWER-all goods or services have been
received and accepted
all reports have been delivered and accepted
All administrative actions have been accomplished
all agency-furnished equipment and materials have been returned
all property inventory and ownership issues are resolved
final acceptance from the project manager has been received
final payment has been made to the contractor
Vendor Performance Reporting Requirements - ✔✔✔ ANSWER-A contractor's
performance must be reported within 30 days to VPTS once a contract with a value of over
$25,000 is completed or otherwise terminated.
If the value of the contract exceeds $5 million, the agency must review the contractor's
performance at least once each year during the term of the contract and at each key
milestone identified for the contract.
Report Score - ✔✔✔ ANSWER-The score the agency assigns to a vendor for one
particular vendor performance report (VPR)
,Vendor Score - ✔✔✔ ANSWER-The score calculated by averaging all of a vendor's report
scores to provide an overall vendor score
VPTS: Satisfying Best Value Standard - ✔✔✔ ANSWER-Be aware of the best value
criteria used to award the contract.
When assigning a VPTS score for a contractor, part of that determination is if they met the
best value standard.
VPTS - Vendor Scoring Guide (A) - ✔✔✔ ANSWER-Vendor significantly exceeded the
requirements of the purchase order.
Any problems with the contract were minor and corrective action was highly effective.
Satisfied best-value standard
Don't have to be perfect
VPTS - Vendor Scoring Guide (B) - ✔✔✔ ANSWER-Vendor exceeded some requirements
of the purchase order/contract.
Any problems with the contract were minor and corrective actions taken by the vendor were
effective.
Satisfied best-value standard
VPTS - Vendor Scoring Guide 'C' - ✔✔✔ ANSWER-Vendor met the requirements of the
purchase order/contract.
Corrective actions taken by the vendor to address minor problems were satisfactory.
Satisfied best-value standard
VPTS - Vendor Scoring Guide (D) - ✔✔✔ ANSWER-Vendor did not meet some of the
requirements of the purchase order or contract.
, Problems were serious and corrective action was marginally effective or not fully
implemented.
Did not satisfy best-value standard
VPTS - Vendor Scoring Guide (F) - ✔✔✔ ANSWER-Vendor did not meet the requirements
of the purchase order or contract.
Problems were serious and corrective actions taken by the vendor to address the problems
were ineffective.
Did not satisfy best-value standard
VPTS: Process - ✔✔✔ ANSWER-"A, B and C" reports will post automatically.
Report grades of "D" and "F": a vendor may submit a vendor response within 30 calendar
days.
Vendors can formally protest a score of "D" or "F" within 10 days of report posting.
Unsatisfactory vendor performance issues involving material misrepresentations, fraud
and/or breach of contract may require the contracting agency to determine whether
debarment of the vendor is in the best interest of the agency.
At what dollar amount are you required to report on the VPTS? - ✔✔✔ ANSWER-$25,000
What is best practice? - ✔✔✔ ANSWER-Report throughout the contract
When do you have to do VTPS? - ✔✔✔ ANSWER-30 Days of completion or termination
What is the requirement if the contract exceeds $5 million? - ✔✔✔ ANSWER-Annually &
milestones
