CON 3990 Exam Study Guide Questions and Verified Correct Answers 2026/2027

CON 3990 Exam Study Guide Questions and Verified Correct Answers 2026/2027 What is the Micro-purhcase threshold for supplies? - Correct Answer $10k All incentive contracts (schedule or performance) must also include what? - Correct Answer Cost incentive or constraint 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 What contract types can be used for commercial item purchases? - Correct Answer FFP or FPEPA 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 True or False: The Gov shall use electronic commerce whenever practicable or cost-effective - Correct Answer True 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 Can contract files be combined if appropriate? - Correct Answer Yes 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