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DCMA CORB Exam with Questions and 100% Correct Verified Answers
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DCMA CORB Exam with Questions and100% Correct Verified Answers
Contractor has 45 days to provide an action plan. which if approved you may reduce
Withhold from 5% to 2%.
Withholds - State criteria to reduce the withhold from 5% to 2%? What must be done in
MOCAS? What is the Maximum Withhold amount - ANSWER As an ACO if you agree
the CAP (Corrective Action Plan) is acceptable (due in 45 days after final
determination) you can reduce the withhold from 5% to 2%.
MOCAS shall have contracts with current withholds coded with a special provision
code "U" and an R9 code of "30".
10% Maximum, so if you have 3 inadequate systems and the CAP is acceptable on 2 of
them your withhold would drop to 2% on those making the total withhold now 9%.
**What makes a Corrective Action Plan acceptable? - ANSWER An acceptable CAP will
address all deficiencies, be meaningful and complete, and include achievable
milestones for each step of the resolution.
**Contractor responds to your initial determination letter asking you to delay issuing final
determination until the corrective action was fully working, what should you do? -
ANSWER Your final determination (COFD) must be issued 30 days after the contractor
has responded to the deficiencies. If you do not have enough to disapprove, you can
approve the system then request a second review to determine if issues were fixed, the
final determination can be reversed.
,The only extensions that can be granted are 15 days granted by the Contract director to
the GOVT not the contractor for preparation of final determination. Anything over 15
days must get approval from HQ.
Can we simultaneously apply a payment withhold AND also stop progress payments? -
ANSWER Yes. Ex. If a KTR has progress payments in the contract there must be a
approved accounting system. So if their accounting system is not approved then they
shouldn't be receiving progress payments anyway
What happens if functional specialist determines deficiency during an off cycle review?
- ANSWER System is not disapproved until it is deemed as such by ACO.
How many responsibilities/functions are listed in the FAR for ACO Responsibilities?
How many cannot be delegated from DCMA? What are those functions? - ANSWER
There are 71 functions according to FAR 42.302, all of which can be designated to
DCMA. There are 4 inherent functions that can not be performed by anyone but
DCMA. o (5) Negotiate forward pricing
o (9) Establish final indirect cost and billing rates
o (11) Cost accounting Standards
o (12) Determine adequacy of Business System
**What is the difference between invoice payment and financing? Give examples of each
- ANSWER Financing pays for something that the government has not accepted or
received yet. must be "paid back" at final invoice. Ex. PBP, Prog Pay, Advance
Invoice payments are for services or supplies the government has taken acceptance
of. Ex. BVN, NOC, Combo R/R
What are the different types of financing payments? What is the least preferred
method? - ANSWER Progress Payments - Easiest, most preferred based on progress
made and anticipated cost to complete
, Performance Based - based on established quantifiable milestones agreed to at start of
award
Advanced payments - Least preferred
Interim Payments
What is a requirement to do cost type contracts and financing? - ANSWER An approved
accounting system.
What contracts are eligible for financing? - ANSWER Must have an approved
Accounting system
Only Firm Fixed Price, Non - commercial
Only 1 invoice per calendar month
Min of 6 months period of performance
Must be over SAT - $150K
What are the differences between Progress Payments and Performance based
payments? - ANSWER PBP is capped at 90% regardless off size of contractor.
Payout is based on established quantifiable milestones agreed to at start of award
Prog Pay, Large KTR are capped at 80%, Small are capped at 90% (per
DFARS).Based on actual costs, gov must have accepted something, based on progress
and anticipated cost to complete contract.
**What is the Ceiling amount of a UCA when there is contract financing -
ANSWER $5mil, after definitization you can finance up to 75%. Reason for 5mil
threshold is anything over $5mil must be reported to congress Biannually
**When would ACO suspend or Reduce the PP? FAR 32.503-6, Clause 52.232-29,
- ANSWER *1. Operating in a loss condition - Cost to complete is more than what is
obligate, requires a loss ratio calculation to determine which % of the Max finance
amount (i.e. 80% of 80%)
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