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Exam (elaborations)

CON 3990 Exam Practice Questions and Answers (100% Correct)

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  • CON 3990
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  • CON 3990

CON 3990 Exam Practice Questions and Answers (100% Correct)

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  • August 14, 2024
  • 36
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CON 3990
  • CON 3990
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OliviaWest
©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Saturday, August 3, 2024 7:34 AM



WEST VIRGINIA UNIVERSIRTY- ( WV) : 26506

CON 3990 Exam Practice Questions and
Answers (100% Correct)

What is the Micro-purhcase threshold for supplies? - ✔️✔️$10k


All incentive contracts (schedule or performance) must also include what? - ✔️✔️Cost

incentive or constraint


What requires funds to be used only for needs or services in the year of the

appropriations obligation period? - ✔️✔️Bona Fide Needs Rule


What contract types can be used for commercial item purchases? - ✔️✔️FFP or FPEPA


What is the Simplified Acquisition Threshold for commercial products and services?

What is it for non-commercial? - ✔️✔️$7.5M - commercial $250k for non-commercial


True or False: The Gov shall use electronic commerce whenever practicable or cost-

effective - ✔️✔️True


What is the purpose of a contract file? (4) - ✔️✔️Provide background/basis for decisions


Supporting actions taken


Provide information for reviews and investigations



1

,©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Saturday, August 3, 2024 7:34 AM



WEST VIRGINIA UNIVERSIRTY- ( WV) : 26506
Furnishing essential facts in the event of a litigation


Can contract files be combined if appropriate? - ✔️✔️Yes


At what level are contract files maintained and why? - ✔️✔️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? - ✔️✔️When the KO receives evidence of receipt

of property or final payment


When is a FFP (not SAP) contract file closed out? - ✔️✔️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? -

✔️✔️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? -

✔️✔️Within 20 months of the month the KO receives evidence of physical completion




2

,©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Saturday, August 3, 2024 7:34 AM



WEST VIRGINIA UNIVERSIRTY- ( WV) : 26506
When is a contract considered physically complete? - ✔️✔️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


What are the steps to close out a contract file? - ✔️✔️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? - ✔️✔️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? - ✔️✔️Justification

and Approval which justifies the actions in writing, certifies the accuracy and

completeness of the justifications and obtains the approval required


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

✔️✔️they have a signed Justification and Approval




3

, ©PREP4EXAMS@2024 [REAL-EXAM-DUMPS] Saturday, August 3, 2024 7:34 AM



WEST VIRGINIA UNIVERSIRTY- ( WV) : 26506
A J&A should include - ✔️✔️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)


efforts made to solicit offers from other sources


determination of fair and reasonable anticipated cost


description of market research conducted


list of sources that expressed interest


statement of how agency may remove comp barriers in the future


KO certification


What are the thresholds for J&A approval - ✔️✔️under $750 - KO approval


over $750k and under $100M - HCA


over $100M - senior procurement executive


What are the basic elements required for a contract to be legally binding (4) - ✔️✔️mutual

assent (valid offer and acceptance)


adequate consideration




4

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