CA Industry Regulations & Compliance 5

Question 1

Under the Federal Acquisition Regulation (FAR), government contractors must generally retain contract records for how long after final payment?

Accepted Answer

6 years and 3 months

Answer

FAR 4.703 requires contractors to retain records related to government contracts for 3 years after final payment, but cost or pricing data must be retained for 3 years after the Contracting Officer's final decision—with some records required for 6 years and 3 months.

Question 2

What is the primary archival significance of the Presidential Records Act of 1978?

Accepted Answer

It transferred ownership of presidential records from the president to the U.S. government

Answer

The Presidential Records Act established that presidential records are the property of the United States, not the individual president, and are managed by NARA after the administration ends.

Question 3

The concept of 'functional appraisal' in records management evaluates records based on what criteria?

Accepted Answer

The administrative functions and activities that generated the records

Answer

Functional appraisal assesses records based on the importance of the function or activity that generated them, rather than the content of individual documents.

Question 4

Which compliance framework specifically addresses electronic discovery (e-discovery) procedures in U.S. federal civil litigation?

Accepted Answer

Federal Rules of Civil Procedure (FRCP), especially Rule 26 and Rule 37

Answer

The Federal Rules of Civil Procedure, particularly Rules 26 and 37, govern the discovery of electronically stored information (ESI) in federal civil litigation and impose sanctions for non-compliance.

Question 5

Under the Gramm-Leach-Bliley Act (GLBA), financial institutions must protect non-public personal information (NPI) through what type of program?

Accepted Answer

A comprehensive written information security program (WISP)

Answer

GLBA's Safeguards Rule requires financial institutions to develop, implement, and maintain a comprehensive written information security program to protect customers' NPI.

(CA) Certified Archivist Certification Practice Test

(CA) Certified Archivist Certification Practice Test

CA Industry Regulations & Compliance 5