CON 1400 Exam Review (Latest 2026/
2027 Update) Questions and Verified
Answers-100% Correct- Grade A
When should CR and T&M contracts that have indirect rates be closed out?
36 months after physical completion
How long do we retain contracts after closeout?
6 years
What form is used for Contract Completion Statement?
DD 1594
What is not a methodology for monitoring and documenting contractor
performance?
average inspections
What is the difference between automated closeout vs. manual closeout?*
Automated contract closeout is managed within PIEE, enables automatic closure of
simple, firm-fixed-price (FFP) contracts
Manual closeout is required for complex, high-value, or non-FFP contracts, involving
manual close out
T/F: IAW DFARS PGI 204.804 when a contract is a FFP contract and does not
exceed $500k, it may be a candidate for automated contract closeout
True
, Request for Equitable Adjustment (REA) is when contractors submit detailed cost
data to justify compensation for:
gov-cause delays, disruptions, or changes and includes labor hours, material costs,
overhead, and profit
What's the objective of ADR (Alternative Dispute Resolutions)?
to increase the opportunity for relatively quick and cheap resolution of issues
What is part of the Contracting Officer Closeout Review:
KO ensures all closeout actions are complete, reviews all paperwork, &
initiates admin closeout checklist
What do we call the phase after a contract has been awarded?
Contract administration
What are some responsibilities of Contract Administration?
manages contract throughout its lifecycle to ensure parties meet obligations, oversees
performance, modifications, resolves issues, documents progress
What does effective oversight require?
clear understanding
Contract Administration is a shared responsibility between the:
buyer and seller that requires collaboration, transparency, and diligence from both sides
What database captures contractor past performance and is the go-to tool for
government agencies to make informed decisions?
Contractor Performance Assessment Reporting System (CPARS)
During the Contractor Comment Period, the contractor has at least _____ days to
rebut or respond to comments
2027 Update) Questions and Verified
Answers-100% Correct- Grade A
When should CR and T&M contracts that have indirect rates be closed out?
36 months after physical completion
How long do we retain contracts after closeout?
6 years
What form is used for Contract Completion Statement?
DD 1594
What is not a methodology for monitoring and documenting contractor
performance?
average inspections
What is the difference between automated closeout vs. manual closeout?*
Automated contract closeout is managed within PIEE, enables automatic closure of
simple, firm-fixed-price (FFP) contracts
Manual closeout is required for complex, high-value, or non-FFP contracts, involving
manual close out
T/F: IAW DFARS PGI 204.804 when a contract is a FFP contract and does not
exceed $500k, it may be a candidate for automated contract closeout
True
, Request for Equitable Adjustment (REA) is when contractors submit detailed cost
data to justify compensation for:
gov-cause delays, disruptions, or changes and includes labor hours, material costs,
overhead, and profit
What's the objective of ADR (Alternative Dispute Resolutions)?
to increase the opportunity for relatively quick and cheap resolution of issues
What is part of the Contracting Officer Closeout Review:
KO ensures all closeout actions are complete, reviews all paperwork, &
initiates admin closeout checklist
What do we call the phase after a contract has been awarded?
Contract administration
What are some responsibilities of Contract Administration?
manages contract throughout its lifecycle to ensure parties meet obligations, oversees
performance, modifications, resolves issues, documents progress
What does effective oversight require?
clear understanding
Contract Administration is a shared responsibility between the:
buyer and seller that requires collaboration, transparency, and diligence from both sides
What database captures contractor past performance and is the go-to tool for
government agencies to make informed decisions?
Contractor Performance Assessment Reporting System (CPARS)
During the Contractor Comment Period, the contractor has at least _____ days to
rebut or respond to comments
