CON 3990V CERTIFICATION
REAL EXAM
,CON 3990V CERTIFICATION REAL EXAM
1. What is the Micro-purhcase threshold for supplies?: $10k
2. All incentive contracts (schedule or performance) must also
include what?: Cost incentive or constraint
3. What requires funds to be used only for needs or services in
the year of the appropriations obligation period?: Bona Fide Needs
Rule
4. What contract types can be used for commercial item
purchases?: FFP or FPEPA
5. What is the Simplified Acquisition Threshold for commercial
products and services? What is it for non-commercial?: $7.5M -
commercial $250k for non-commercial
6. True or False: The Gov shall use electronic commerce
whenever practicable or cost-effective: True
7. What is the purpose of a contract file? (4): Provide background/basis
for decisions
Supporting actions taken
Provide information for reviews and investigations
,Furnishing essential facts in the event of a litigation
8. Can contract files be combined if appropriate?: Yes
9. At what level are contract files maintained and why?: 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
10. When is a SAP contract file closed out?: When the KO receives evidence
of receipt of property or final payment
11. When is a FFP (not SAP) contract file closed out?: Should be
closed out within 6 months after date KO receives evidence of physical completion
12. When should contract files required settlement of indirect
cost rates be closed out?: Within 36 months of the month the KO receives
evidence of physical completion
13. When should all other (not SAP, FFP, or indirect cost rate)
contract files be closed?: Within 20 months of the month the KO receives evidence
of physical completion
14. When is a contract considered physically complete?: 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
15. What are the steps to close out a contract file?: 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
16. How long are contract documents retained after closeout?: 6
years after final payment
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
competi- tion?: Justification and Approval which justifies the actions in writing, certifies
the accuracy and completeness of the justifications and obtains the approval required
18. The KO shall not award a sole-source contract for an
amount exceeding
$25M unless: they have a signed Justification and Approval
REAL EXAM
,CON 3990V CERTIFICATION REAL EXAM
1. What is the Micro-purhcase threshold for supplies?: $10k
2. All incentive contracts (schedule or performance) must also
include what?: Cost incentive or constraint
3. What requires funds to be used only for needs or services in
the year of the appropriations obligation period?: Bona Fide Needs
Rule
4. What contract types can be used for commercial item
purchases?: FFP or FPEPA
5. What is the Simplified Acquisition Threshold for commercial
products and services? What is it for non-commercial?: $7.5M -
commercial $250k for non-commercial
6. True or False: The Gov shall use electronic commerce
whenever practicable or cost-effective: True
7. What is the purpose of a contract file? (4): Provide background/basis
for decisions
Supporting actions taken
Provide information for reviews and investigations
,Furnishing essential facts in the event of a litigation
8. Can contract files be combined if appropriate?: Yes
9. At what level are contract files maintained and why?: 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
10. When is a SAP contract file closed out?: When the KO receives evidence
of receipt of property or final payment
11. When is a FFP (not SAP) contract file closed out?: Should be
closed out within 6 months after date KO receives evidence of physical completion
12. When should contract files required settlement of indirect
cost rates be closed out?: Within 36 months of the month the KO receives
evidence of physical completion
13. When should all other (not SAP, FFP, or indirect cost rate)
contract files be closed?: Within 20 months of the month the KO receives evidence
of physical completion
14. When is a contract considered physically complete?: 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
15. What are the steps to close out a contract file?: 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
16. How long are contract documents retained after closeout?: 6
years after final payment
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
competi- tion?: Justification and Approval which justifies the actions in writing, certifies
the accuracy and completeness of the justifications and obtains the approval required
18. The KO shall not award a sole-source contract for an
amount exceeding
$25M unless: they have a signed Justification and Approval
