CON 3990 Exam Study Questions UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
What is the Micro-purchase threshold for supplies? $15k
All multiple-incentive contracts (schedule or Cost incentive or constraint (16.402-4)
performance) must also include what?
What requires funds to be used only for needs or Bona Fide Needs Rule
services in the year of the appropriations obligation
period?
What contract types can be used for commercial item FFP or FPEPA
purchases?
What is the Simplified Acquisition Threshold for $9M - commercial $350k for non-commercial
commercial products and services? What is it for non-
commercial?
True or False: The Gov shall use electronic commerce True
whenever practicable or cost-effective
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
, Can contract files be combined if appropriate? Yes
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 of classified docs
- conformance with agency regs
When is a SAP contract file closed out? When the KO receives evidence of receipt of property and final payment (4.804-1)
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 (4.804-1)
When should contract files requiring settlement of Within 36 months of the month the KO receives evidence of physical completion
indirect cost rates be closed out? (4.804-1)
When should all other (not SAP, FFP, or indirect cost rate) Within 20 months of the month the KO receives evidence of physical completion
contract files be closed? (4.804-1)
When is a contract considered physically complete? - the KTR has completed the required deliveries and the 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 (4.804-4)
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 (4.804-5)
How long are contract documents retained after 6 years after final payment (4.805)
closeout?
What does a KO need prior to commencement of Justification and Approval which justifies the actions in writing, certifies the
negotiations for a sole source contract, commencement accuracy and completeness of the justifications and obtains the approval required
of negotiations for a contract resulting from an (6.303-1)
unsolicited proposal, or award without providing for full
and open competition?
The KO shall not award a sole-source contract under the they have a signed Justification and Approval (6.303-1)
8(a) authority for an amount exceeding $25M unless
CORRECT ANSWERS
What is the Micro-purchase threshold for supplies? $15k
All multiple-incentive contracts (schedule or Cost incentive or constraint (16.402-4)
performance) must also include what?
What requires funds to be used only for needs or Bona Fide Needs Rule
services in the year of the appropriations obligation
period?
What contract types can be used for commercial item FFP or FPEPA
purchases?
What is the Simplified Acquisition Threshold for $9M - commercial $350k for non-commercial
commercial products and services? What is it for non-
commercial?
True or False: The Gov shall use electronic commerce True
whenever practicable or cost-effective
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
, Can contract files be combined if appropriate? Yes
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 of classified docs
- conformance with agency regs
When is a SAP contract file closed out? When the KO receives evidence of receipt of property and final payment (4.804-1)
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 (4.804-1)
When should contract files requiring settlement of Within 36 months of the month the KO receives evidence of physical completion
indirect cost rates be closed out? (4.804-1)
When should all other (not SAP, FFP, or indirect cost rate) Within 20 months of the month the KO receives evidence of physical completion
contract files be closed? (4.804-1)
When is a contract considered physically complete? - the KTR has completed the required deliveries and the 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 (4.804-4)
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 (4.804-5)
How long are contract documents retained after 6 years after final payment (4.805)
closeout?
What does a KO need prior to commencement of Justification and Approval which justifies the actions in writing, certifies the
negotiations for a sole source contract, commencement accuracy and completeness of the justifications and obtains the approval required
of negotiations for a contract resulting from an (6.303-1)
unsolicited proposal, or award without providing for full
and open competition?
The KO shall not award a sole-source contract under the they have a signed Justification and Approval (6.303-1)
8(a) authority for an amount exceeding $25M unless
