FAC C Certification Exam 12 Questions And Answers Set 01
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Terms in this set
12
Each authority is delegable unless specifically stated otherwise
True
There are 53 parts of the FAR
True
The contracting administration is responsible for initiating administrative closeout of the contract after receiving...
Evidence of its physical completion
Agencies are required to hold contract files in the office responsible for maintaining them for...
A period of 12 months
A contract is considered physically complete when the contractor has completed all required deliveries and/or performed all services and these services and/or items have been accepted by the Government. If the contract has options, then all options have also been expired.
True
Files for contracts requiring settlement of indirect cost rates should be closed within 36 months of the month in which the contracting officer receives evidence of physical completion
True
Files for firm-fixed price contracts, other than those using simplified acquisition procedures, should be closed within 6 months after the date on which the contracting officer receives evidence of physical completion
True
Files for contracts using simplified acquisition procedures should be considered closed when the contracting officer receives evidence of receipt of property and final payment, unless otherwise specified by agency regulations
True
The administering contract office initiates closeout of contract files...
Based on timelines specific to contract type
Government representatives must recognize the lack of privity of contract between the Government and subcontractors
True