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CON 1400 Exam Review Questions and
Correct Answers/ Latest Update / Already
Graded
Contracts that have indirect rates, When should they be closed out?
Ans: 36 months after physical completion
Modification must be...
Ans: In scope to make sure there is no undue burden on the
contractor
What is GFP?
Ans: All property owned by or leased to the government or
acquired by the government and furnished to the contractor.
This includes equipment: procured via purchase order;
furnished by the government; or built in-house.
GFP, when do we provide it
Ans: a. To be in the Government's best interest;
b. That the overall benefit to the acquisition significantly
outweighs the increased cost of administration, including
ultimate property disposal;
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c. That providing the property does not substantially increase
the Government's assumption of risk
d. That Government requirements cannot otherwise be met.
What's the objective of ADR (Alternative Dispute Resolutions)?
Ans: To increase the opportunity for relatively inexpensive and
expeditious resolution of issues in controversy.
Can the contractor rebut the CPARS rating?
Ans: Yes
How long do we retain docs after closeout?
Ans: 6 years
3 different types of terminations
Ans: - Convenience
- Commercial or non-commercial for convenience
- Fault and for commercial, it is termination for cause
Gov has a right to terminate, partially or entire thing, for default or
cause, when we do that if the contractor fails to....
All rights reserved © 2025/ 2026 |
CON 1400 Exam Review Questions and
Correct Answers/ Latest Update / Already
Graded
Contracts that have indirect rates, When should they be closed out?
Ans: 36 months after physical completion
Modification must be...
Ans: In scope to make sure there is no undue burden on the
contractor
What is GFP?
Ans: All property owned by or leased to the government or
acquired by the government and furnished to the contractor.
This includes equipment: procured via purchase order;
furnished by the government; or built in-house.
GFP, when do we provide it
Ans: a. To be in the Government's best interest;
b. That the overall benefit to the acquisition significantly
outweighs the increased cost of administration, including
ultimate property disposal;
All rights reserved © 2025/ 2026 |
, Page |2
c. That providing the property does not substantially increase
the Government's assumption of risk
d. That Government requirements cannot otherwise be met.
What's the objective of ADR (Alternative Dispute Resolutions)?
Ans: To increase the opportunity for relatively inexpensive and
expeditious resolution of issues in controversy.
Can the contractor rebut the CPARS rating?
Ans: Yes
How long do we retain docs after closeout?
Ans: 6 years
3 different types of terminations
Ans: - Convenience
- Commercial or non-commercial for convenience
- Fault and for commercial, it is termination for cause
Gov has a right to terminate, partially or entire thing, for default or
cause, when we do that if the contractor fails to....
All rights reserved © 2025/ 2026 |
