CON 3990 Newest Exam with accurate detailed answers

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CON 3990 Newest Exam with accurate detailed answers
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What is the Micro-purhcase threshold for supplies? - ✔✔$10k
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All incentive contracts (schedule or performance) must also include what? - ✔✔Cost
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incentive or constraint || ||




What requires funds to be used only for needs or services in the year of the appropriations
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obligation period? - ✔✔Bona Fide Needs Rule || || || || || ||




What contract types can be used for commercial item purchases? - ✔✔FFP or FPEPA
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What is the Simplified Acquisition Threshold for commercial products and services? What is
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it for non-commercial? - ✔✔$7.5M - commercial $250k for non-commercial
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True or False: The Gov shall use electronic commerce whenever practicable or cost-effective
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- ✔✔True
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What is the purpose of a contract file? (4) - ✔✔Provide background/basis for decisions
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Supporting actions taken || ||




Provide information for reviews and investigations
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Furnishing essential facts in the event of a litigation
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Can contract files be combined if appropriate? - ✔✔Yes
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At what level are contract files maintained and why? - ✔✔Maintained at the organizational
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level to ensure || ||

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effective documentation of contract actions
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accessibility by principal users || || ||




minimal establishment of duplicate and working files
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safeguarding classified docs || ||




conformance with agency regs || || ||




When is a SAP contract file closed out? - ✔✔When the KO receives evidence of receipt of
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property or final payment || || ||




When is a FFP (not SAP) contract file closed out? - ✔✔Should be closed out within 6
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months after date KO receives evidence of physical completion
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When should contract files required settlement of indirect cost rates be closed out? -
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✔✔Within 36 months of the month the KO receives evidence of physical completion
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When should all other (not SAP, FFP, or indirect cost rate) contract files be closed? -
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✔✔Within 20 months of the month the KO receives evidence of physical completion
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When is a contract considered physically complete? - ✔✔the KTR has completed required
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deliveries and Gov has inspected and accepted the supplies
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The contractor has performed all services and the Gov has accepted the services and
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all option provisions, if any, have expired
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or the Gov gives the KTR notice of termination
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What are the steps to close out a contract file? - ✔✔1) Contract admin office is responsible
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for initiating, reviewing contract fund status, and deobligating excess funds
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2)KO issues a contract completions statement
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3) KO files completed statement and signed copy send to admin office
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How long are contract documents retained after closeout? - ✔✔6 years after final payment
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What does a KO need prior to commencement of negotiations for a sole source contract,
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commencement of negotiations for a contract resulting from an unsolicited proposal, or
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award without providing for full and open competition? - ✔✔Justification and Approval
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which justifies the actions in writing, certifies the accuracy and completeness of the
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justifications and obtains the approval required || || || || ||




The KO shall not award a sole-source contract for an amount exceeding $25M unless -
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✔✔they have a signed Justification and Approval
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A J&A should include - ✔✔Description of action being approved
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Description of supplies or services required + estimated value
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statutory authority permitting other than full and open comp
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demonstrate why specific KTR is required (instead of comp) || || || || || || || ||




efforts made to solicit offers from other sources
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determination of fair and reasonable anticipated cost || || || || || ||




description of market research conducted || || || ||




list of sources that expressed interest
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statement of how agency may remove comp barriers in the future
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KO certification
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What are the thresholds for J&A approval - ✔✔under $750 - KO approval
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over $750k and under $100M - HCA
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over $100M - senior procurement executive
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