1|Page
CON 3990 Exam Newest 2026 With Complete 200
Questions And Correct Answers |Already Graded
A+||Latest Version!!!|
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
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
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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
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
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When is a SAP contract file closed out? - Answer-When
the KO receives evidence of receipt of property or final
payment
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? - Answer-Within 36 months of
the month the KO receives evidence of physical
completion
When should all other (not SAP, FFP, or indirect cost rate)
contract files be closed? - Answer-Within 20 months of the
month the KO receives evidence of physical completion
When is a contract considered physically complete? -
Answer-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
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or the Gov gives the KTR notice of termination
What are the steps to close out a contract file? - Answer-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
How long are contract documents retained after closeout?
- Answer-6 years after final payment
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? - Answer-Justification and Approval which
justifies the actions in writing, certifies the accuracy and
completeness of the justifications and obtains the approval
required
CON 3990 Exam Newest 2026 With Complete 200
Questions And Correct Answers |Already Graded
A+||Latest Version!!!|
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
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
,2|Page
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
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
,3|Page
When is a SAP contract file closed out? - Answer-When
the KO receives evidence of receipt of property or final
payment
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? - Answer-Within 36 months of
the month the KO receives evidence of physical
completion
When should all other (not SAP, FFP, or indirect cost rate)
contract files be closed? - Answer-Within 20 months of the
month the KO receives evidence of physical completion
When is a contract considered physically complete? -
Answer-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
, 4|Page
or the Gov gives the KTR notice of termination
What are the steps to close out a contract file? - Answer-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
How long are contract documents retained after closeout?
- Answer-6 years after final payment
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? - Answer-Justification and Approval which
justifies the actions in writing, certifies the accuracy and
completeness of the justifications and obtains the approval
required
