CON 3990 Exam questions and verified answers
(detailed & elaborated) ACTUAL EXAM 2025 TESTS!!
What is the Micro-purhcase threshold for supplies?
Ans: $10k
Quiz All incentive contracts (schedule or performance) must also include what?
Ans: Cost incentive or constraint
Quiz What requires funds to be used only for needs or services in the year of the appropriations
obligation period?
Ans: Bona Fide Needs Rule
Quiz What contract types can be used for commercial item purchases?
Ans: FFP or FPEPA
Quiz What is the Simplified Acquisition Threshold for commercial products and services? What is it for
non-commercial?
,Ans: $7.5M - commercial $250k for non-commercial
Quiz True or False: The Gov shall use electronic commerce whenever practicable or cost-effective
Ans: True
Quiz What is the purpose of a contract file? (4)
Ans: Provide background/basis for decisions
Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a litigation
Quiz Can contract files be combined if appropriate?
Ans: Yes
Quiz At what level are contract files maintained and why?
Ans: 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
,Quiz When is a SAP contract file closed out?
Ans: When the KO receives evidence of receipt of property or final payment
Quiz When is a FFP (not SAP) contract file closed out?
Ans: Should be closed out within 6 months after date KO receives evidence of physical completion
Quiz When should contract files required settlement of indirect cost rates be closed out?
Ans: Within 36 months of the month the KO receives evidence of physical completion
Quiz When should all other (not SAP, FFP, or indirect cost rate) contract files be closed?
Ans: Within 20 months of the month the KO receives evidence of physical completion
Quiz When is a contract considered physically complete?
Ans: the KTR has completed required deliveries and 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
Quiz What are the steps to close out a contract file?
, Ans: 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
Quiz How long are contract documents retained after closeout?
Ans: 6 years after final payment
Quiz What does a KO need prior to commencement of negotiations for a sole source contract,
commencement of negotiations for a contract resulting from an unsolicited proposal, or award without
providing for full and open competition?
Ans: Justification and Approval which justifies the actions in writing, certifies the accuracy and
completeness of the justifications and obtains the approval required
Quiz The KO shall not award a sole-source contract for an amount exceeding $25M unless
Ans: they have a signed Justification and Approval
Quiz A J&A should include
Ans: Description of action being approved
Description of supplies or services required + estimated value
statutory authority permitting other than full and open comp
demonstrate why specific KTR is required (instead of comp)
(detailed & elaborated) ACTUAL EXAM 2025 TESTS!!
What is the Micro-purhcase threshold for supplies?
Ans: $10k
Quiz All incentive contracts (schedule or performance) must also include what?
Ans: Cost incentive or constraint
Quiz What requires funds to be used only for needs or services in the year of the appropriations
obligation period?
Ans: Bona Fide Needs Rule
Quiz What contract types can be used for commercial item purchases?
Ans: FFP or FPEPA
Quiz What is the Simplified Acquisition Threshold for commercial products and services? What is it for
non-commercial?
,Ans: $7.5M - commercial $250k for non-commercial
Quiz True or False: The Gov shall use electronic commerce whenever practicable or cost-effective
Ans: True
Quiz What is the purpose of a contract file? (4)
Ans: Provide background/basis for decisions
Supporting actions taken
Provide information for reviews and investigations
Furnishing essential facts in the event of a litigation
Quiz Can contract files be combined if appropriate?
Ans: Yes
Quiz At what level are contract files maintained and why?
Ans: 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
,Quiz When is a SAP contract file closed out?
Ans: When the KO receives evidence of receipt of property or final payment
Quiz When is a FFP (not SAP) contract file closed out?
Ans: Should be closed out within 6 months after date KO receives evidence of physical completion
Quiz When should contract files required settlement of indirect cost rates be closed out?
Ans: Within 36 months of the month the KO receives evidence of physical completion
Quiz When should all other (not SAP, FFP, or indirect cost rate) contract files be closed?
Ans: Within 20 months of the month the KO receives evidence of physical completion
Quiz When is a contract considered physically complete?
Ans: the KTR has completed required deliveries and 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
Quiz What are the steps to close out a contract file?
, Ans: 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
Quiz How long are contract documents retained after closeout?
Ans: 6 years after final payment
Quiz What does a KO need prior to commencement of negotiations for a sole source contract,
commencement of negotiations for a contract resulting from an unsolicited proposal, or award without
providing for full and open competition?
Ans: Justification and Approval which justifies the actions in writing, certifies the accuracy and
completeness of the justifications and obtains the approval required
Quiz The KO shall not award a sole-source contract for an amount exceeding $25M unless
Ans: they have a signed Justification and Approval
Quiz A J&A should include
Ans: Description of action being approved
Description of supplies or services required + estimated value
statutory authority permitting other than full and open comp
demonstrate why specific KTR is required (instead of comp)
