FCCM TRAINING COURSES QUESTIONS AND ANSWERS (VERIFIED 100% CORRECT)
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Module
FCCM
Institution
FCCM
FCCM TRAINING COURSES QUESTIONS AND ANSWERS (VERIFIED 100% CORRECT)
Statutory requirements of deliverables - Answer-Quantifiable, measurable, and verifiable units of deliverables that must be received and accepted in writing by the contract manager before payment
Deliverables should - Answer-...
FCCM TRAINING COURSES 2024-
2025 QUESTIONS AND ANSWERS
(VERIFIED 100% CORRECT)
Statutory requirements of deliverables - Answer-Quantifiable, measurable, and
verifiable units of deliverables that must be received and accepted in writing by the
contract manager before payment
Deliverables should - Answer--Be related to the SoW
-Identify the required performance criteria that must be performed in order to receive
payment
- Identify the amount of compensation
-Provide a timeline for the completion and submission of deliverables
The best way to avoid a settlement agreement is to - Answer-assign a monetary value
to each task so you can pay the provider for the work that was actually performed
Financial consequences - Answer-A requirement for all agreements. These give
direction for payment when work is not completed as the agreement requires. Having
financial consequences helps to avoid a settlement agreement
The contract management process begins when the agency - Answer-posts its Intent to
Award and has an executed contract or grant in hand.
A contract administrator and a contract manager may be assigned to - Answer-the
same or different employees
Grant managers are responsible for - Answer-Cost reconciliation and preparing a final
reconciliation report
Cost administrators are responsible for - Answer--creating and maintaining a contract
file
-maintaining financial information on all contracts
-serving as a liaison between the contract manager and the dpt.
For a contract in excess of $500K annually, the contract administrator (may/may not)
serve as both the contract administrator and the contract manager - Answer-may not
For a contract of $500K or less annually, the contract administrator (may/may not) serve
as the contract manager - Answer-may
, The contract administrator is a resource you can rely on for ___________ while
performing your contract manager duties - Answer-advice and guidance
Contract managers are responsible for - Answer--enforcing performance of the contract
terms and conditions
-serving as a liaison between the provider and the agency
-participating in the solicitation development and review of contract documents
-managing the receipt of commodities/contractual services
-providing written certification that services were performed and completed
-monitoring provider performance and end-user satisfaction
-exercising applicable remedies when a contractor's performance is deficient
-conducting cost reconciliation (grants)
-managing and documenting any changes to the contract through amendments
-monitoring the contract budget to ensure sufficient funds are available
-maintaining a contract management file
Managers of contracts in excess of $10 mil annually must possess at least ___ years
experience managing contracts in excess of $5 mil annually - Answer-5
For contracts of $5 mil or greater, each agency needs an oversight team of ____
people, including the contract manager - Answer-4
For contracts of $10 mil or greater, at least ____ person serving on the oversight team
must have at least 5 years of experience managing contracts of a similar size - Answer-
1
For contracts of $20 mil or greater, the team must consist of ____ people and at least
_____ person/people should be from a different agency - Answer-5; 1
How often do oversight teams for contracts worth $5 mil or more meet? - Answer-At
least quarterly
How often do oversight teams for contracts worth $10 mil or more meet? - Answer-At
least monthly
What do oversight teams do? - Answer--have an initial meeting with the contractor
within the first 30 days of their formation
-discuss contract requirements
-continue to meet throughout the duration of the contract
-submit questions to contractors based on meeting discussions
During oversight team meetings, the contract administrator must be present with... -
Answer-the contract file and all applicable financial information
Contractors must respond to the oversight team's questions within ____ business days
of receiving the written questions. - Answer-10
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