CON 3990V Exam Prep Questions

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CON 3990V EXAM PREP

QUESTIONS AND ANSWERS

When should all other (not SAP, FFP, or indirect cost rate) contract files be closed?

• Within 6 months of the month the KO receives evidence of physical

completion

• Within 12 months of the month the KO receives evidence of physical

completion

• Within 20 months of the month the KO receives evidence of physical

completion

• Within 36 months of the month the KO receives evidence of physical

completion

Correct Answer: C) Within 20 months of the month the KO receives evidence of

physical completion

When is a contract considered physically complete?

• When final payment has been processed and dispersed to the contractor
• When the warranty period expires and all disputes are settled
• When the contractor has completed required deliveries/services, the Gov has

accepted them, and option provisions have expired, or a notice of termination is given

• When the Contracting Officer formally issues the final performance review

Correct Answer: C) When the contractor has completed required

deliveries/services, the Gov has accepted them, and option provisions have expired, or a notice of termination is given

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What are the steps to close out a contract file?

• 1) KTR submits final invoice 2) KO signs it 3) File is sent to archives
• 1) Contract admin office initiates and deobligates excess funds 2) KO issues

completion statement 3) KO files statement and sends signed copy to admin office

• 1) KO creates D&F 2) Funds are obligated 3) Contract is closed manually in

FPDS

• 1) Defense Contract Audit Agency (DCAA) audits file 2) Legal reviews 3)

KO signs closure

Correct Answer: B) 1) Contract admin office initiates and deobligates excess

funds 2) KO issues completion statement 3) KO files statement and sends signed copy to admin office

How long are contract documents retained after closeout?

• 3 years after final payment
• 5 years after final payment
• 6 years after final payment
• 10 years after final payment

Correct Answer: C) 6 years after final payment

What does a KO need prior to commencement of negotiations for a sole source contract, unsolicited proposal, or award without full and open competition?

• Determination and Findings (D&F)
• Source Selection Plan
• Independent Government Estimate (IGE)
• Justification and Approval (J&A) which justifies actions in writing, certifies

accuracy, and obtains required approval

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Correct Answer: D) Justification and Approval (J&A) which justifies actions in writing, certifies accuracy, and obtains required approval

The KO shall not award a sole-source contract for an amount exceeding $25M

unless:

• They have a signed Determination and Findings
• They have a signed Justification and Approval
• They have received Congressional approval
• They have received at least two bids

Correct Answer: B) They have a signed Justification and Approval

Which of the following should a Justification & Approval (J&A) include?

• Description of action, estimated value, statutory authority, rationale for

specific KTR, market research, and KO certification

• An independent government estimate, the draft contract, and source selection

plan

• The contractor's financial statements and technical capability reports
• The names of all competitors in the industry and a risk mitigation plan

Correct Answer: A) Description of action, estimated value, statutory authority,

rationale for specific KTR, market research, and KO certification

What are the thresholds for J&A approval?

• Under $250k - KO; Over $250k - HCA
• Under $1M - KO; Over $1M - SPE
• Under $750k - KO; Over $750k and under $100M - HCA; Over $100M -

Senior Procurement Executive (SPE)

• Under $5M - KO; Over $5M - Agency Head

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Correct Answer: C) Under $750k - KO; Over $750k and under $100M - HCA;

Over $100M - Senior Procurement Executive (SPE)

Who develops a solicitation?

• The Contractor and the Seller
• The Government & The Buyer
• The End User exclusively
• The Source Selection Authority

Correct Answer: B) The Government & The Buyer

Who prepares an offer?

• The Government and the Buyer
• The Contracting Officer
• The Source Selection Evaluation Board
• The Contractor and the Seller

Correct Answer: D) The Contractor and the Seller

During the post-award phase while the contract is being performed, who has responsibility for quality?

• The Contracting Officer
• The Defense Contract Management Agency (DCMA)
• The Seller
• The End User

Correct Answer: C) The Seller

What does the award phase involve?

• Only work performed by the Government