FAC-C EXAM QUESTIONS WITH VERIFIED ANSWERS
Each authority is delegable unless specifically stated otherwise - Answers - True
There are 53 parts of the FAR - Answers - True
The contracting administration is responsible for initiating administrative closeout of the
contract after receiving... - Answers - Evidence of its physical completion
Agencies are required to hold contract files in the office responsible for maintaining
them for... - Answers - A period of 12 months
A contract is considered physically complete when the contractor has completed all
required deliveries and/or performed all services and these services and/or items have
been accepted by the Government. If the contract has options, then all options have
also been expired. - Answers - True
Files for contracts requiring settlement of indirect cost rates should be closed within 36
months of the month in which the contracting officer receives evidence of physical
completion - Answers - True
Files for firm-fixed price contracts, other than those using simplified acquisition
procedures, should be closed within 6 months after the date on which the contracting
officer receives evidence of physical completion - Answers - True
Files for contracts using simplified acquisition procedures should be considered closed
when the contracting officer receives evidence of receipt of property and final payment,
unless otherwise specified by agency regulations - Answers - True
The administering contract office initiates closeout of contract files... - Answers - Based
on timelines specific to contract type
Government representatives must recognize the lack of privity of contract between the
Government and subcontractors - Answers - True
Contractors shall make available records to satisfy contract negotiation, administration,
and audit requirements of the contracting agencies and the Comptroller General for... -
Answers - 3 years after final payment
Bundling is a subset of consolidation - Answers - True
Each authority is delegable unless specifically stated otherwise - Answers - True
There are 53 parts of the FAR - Answers - True
The contracting administration is responsible for initiating administrative closeout of the
contract after receiving... - Answers - Evidence of its physical completion
Agencies are required to hold contract files in the office responsible for maintaining
them for... - Answers - A period of 12 months
A contract is considered physically complete when the contractor has completed all
required deliveries and/or performed all services and these services and/or items have
been accepted by the Government. If the contract has options, then all options have
also been expired. - Answers - True
Files for contracts requiring settlement of indirect cost rates should be closed within 36
months of the month in which the contracting officer receives evidence of physical
completion - Answers - True
Files for firm-fixed price contracts, other than those using simplified acquisition
procedures, should be closed within 6 months after the date on which the contracting
officer receives evidence of physical completion - Answers - True
Files for contracts using simplified acquisition procedures should be considered closed
when the contracting officer receives evidence of receipt of property and final payment,
unless otherwise specified by agency regulations - Answers - True
The administering contract office initiates closeout of contract files... - Answers - Based
on timelines specific to contract type
Government representatives must recognize the lack of privity of contract between the
Government and subcontractors - Answers - True
Contractors shall make available records to satisfy contract negotiation, administration,
and audit requirements of the contracting agencies and the Comptroller General for... -
Answers - 3 years after final payment
Bundling is a subset of consolidation - Answers - True
