CON 3990V Certification Real Exam Questions and Answers 2026

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CON 3990V Certification Real Exam Questions and Answers 1. What is the Micro-purhcase threshold for supplies?: $10k 2. All incentive contracts (schedule or performance) must also include what?: Cost incentive or constraint 3. What requires funds to be used only for needs or services in the year of the appropriations obligation period?: Bona Fide Needs Rule 4. What contract types can be used for commercial item purchases?: FFP or FPEPA 5. What is the Simplified Acquisition Threshold for commercial products and services? What is it for non-commercial?: $7.5M - commercial $250k for non-commercial 6. True or False: The Gov shall use electronic commerce whenever practicable or cost-effective: True 7. What is the purpose of a contract file? (4): Provide background/basis for decisions Supporting actions taken Provide information for reviews and investigations Furnishing essential facts in the event of a litigation 8. Can contract files be combined if appropriate?: Yes 9. 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 10. When is a SAP contract file closed out?: When the KO receives evidence of receipt of property or final payment 11. 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 12. 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 13. 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 14. When is a contract considered physically complete?: the KTR has completed required deliveries and Gov has inspected and accepted the supplies

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