NEW CON 3990
PRACTICE EXAM QUESTIONS AND ANSWERS
GRADED A+ TESTED AND APPROVED!!
What requires funds to be used only for needs or services in the year of the
appropriations obligation period? -- ANSWER--Bona Fide Needs Rule
What contract types can be used for commercial item purchases? -- ANSWER--
FFP or
FPEPA
What is the Simplified Acquisition Threshold for commercial products and
services? What is it for non-commercial? -- ANSWER--$7.5M - commercial
$250k for non-commercial
True or False: The Gov shall use electronic commerce whenever practicable or
cost-effective -- ANSWER--True
What is the purpose of a contract file? (4) -- ANSWER--Provide
background/basis for decisions
Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a litigation
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,Can contract files be combined if appropriate? -- ANSWER--Yes
At what level are contract files maintained and why? -- ANSWER--Maintained
at the organizational level to ensure effective documentation of contract actions
accessibility by principal users minimal establishment of duplicate and working
files safeguarding classified docs conformance with agency regs
When is a SAP contract file closed out? -- ANSWER--When the KO receives
evidence of receipt of property or final payment
When late in paying an otherwise acceptable invoice, the Government will
-- ANSWER--Pay an interest penalty
A contract is considered physically complete when the contractor has completed
all the required deliveries and:
-- ANSWER--Contractor has submitted the final invoice FAR 4.804-4(a)
According to the FAR, the acquisition team:
a. Includes the contractor
b. Does not include the contractor
c. Includes the contractor for sole source buys only
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,d. Includes the contractor for competitive buys only
-- ANSWER--Contractor - FAR 1.102-3
FAR 4.805 requires all contract files be maintained for a period after final
payment which is -- ANSWER--6 years
What FAR part prescribes policies and procedures for assigning and performing
contract administration and contract audit services
-- ANSWER--FAR Part 42
You've received a claim on your contract. The contractor is required to certify
its claim above what amount?
-- ANSWER--100,000
Does the Government's policy to require prime contractors to incorporate, to the
maximum extent practicable, commercial items or nondevelopmental items as
components of items supplied to the agency, apply to subcontractors at all
levels?
-- ANSWER--Yes FAR 11.002(a)(2)(iv)
A contractor on a cost-reimbursement contract accidentally broke a test fixture
that belongs to the government and is accountable to a government contract.
Generally speaking, liability
Page 3 of 58
, Contractors are not liable for loss of Government property FAR 52.245-1(h)
What two factors may result in the contractor's inability to fulfill contractual
requirements
Contractor mismanagement and ineffective processes
Who makes the determination of responsibility or Non responsibility of a
prospective prime contractor?
-- ANSWER-- KO
CON 3990 EXAM
What is the Micro-purhcase threshold for supplies? -- ANSWER--$10k
All incentive contracts (schedule or performance) must also include what? --
ANSWER-Cost incentive or constraint
When is a FFP (not SAP) contract file closed out? -- ANSWER--Should be
closed out within 6 months after date KO receives evidence of physical
completion
When should contract files required settlement of indirect cost rates be closed
out? --
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PRACTICE EXAM QUESTIONS AND ANSWERS
GRADED A+ TESTED AND APPROVED!!
What requires funds to be used only for needs or services in the year of the
appropriations obligation period? -- ANSWER--Bona Fide Needs Rule
What contract types can be used for commercial item purchases? -- ANSWER--
FFP or
FPEPA
What is the Simplified Acquisition Threshold for commercial products and
services? What is it for non-commercial? -- ANSWER--$7.5M - commercial
$250k for non-commercial
True or False: The Gov shall use electronic commerce whenever practicable or
cost-effective -- ANSWER--True
What is the purpose of a contract file? (4) -- ANSWER--Provide
background/basis for decisions
Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a litigation
Page 1 of 58
,Can contract files be combined if appropriate? -- ANSWER--Yes
At what level are contract files maintained and why? -- ANSWER--Maintained
at the organizational level to ensure effective documentation of contract actions
accessibility by principal users minimal establishment of duplicate and working
files safeguarding classified docs conformance with agency regs
When is a SAP contract file closed out? -- ANSWER--When the KO receives
evidence of receipt of property or final payment
When late in paying an otherwise acceptable invoice, the Government will
-- ANSWER--Pay an interest penalty
A contract is considered physically complete when the contractor has completed
all the required deliveries and:
-- ANSWER--Contractor has submitted the final invoice FAR 4.804-4(a)
According to the FAR, the acquisition team:
a. Includes the contractor
b. Does not include the contractor
c. Includes the contractor for sole source buys only
Page 2 of 58
,d. Includes the contractor for competitive buys only
-- ANSWER--Contractor - FAR 1.102-3
FAR 4.805 requires all contract files be maintained for a period after final
payment which is -- ANSWER--6 years
What FAR part prescribes policies and procedures for assigning and performing
contract administration and contract audit services
-- ANSWER--FAR Part 42
You've received a claim on your contract. The contractor is required to certify
its claim above what amount?
-- ANSWER--100,000
Does the Government's policy to require prime contractors to incorporate, to the
maximum extent practicable, commercial items or nondevelopmental items as
components of items supplied to the agency, apply to subcontractors at all
levels?
-- ANSWER--Yes FAR 11.002(a)(2)(iv)
A contractor on a cost-reimbursement contract accidentally broke a test fixture
that belongs to the government and is accountable to a government contract.
Generally speaking, liability
Page 3 of 58
, Contractors are not liable for loss of Government property FAR 52.245-1(h)
What two factors may result in the contractor's inability to fulfill contractual
requirements
Contractor mismanagement and ineffective processes
Who makes the determination of responsibility or Non responsibility of a
prospective prime contractor?
-- ANSWER-- KO
CON 3990 EXAM
What is the Micro-purhcase threshold for supplies? -- ANSWER--$10k
All incentive contracts (schedule or performance) must also include what? --
ANSWER-Cost incentive or constraint
When is a FFP (not SAP) contract file closed out? -- ANSWER--Should be
closed out within 6 months after date KO receives evidence of physical
completion
When should contract files required settlement of indirect cost rates be closed
out? --
Page 4 of 58
