COR Federal Acquisition Regulations 3

Question 1

Under FAR Subpart 4.7, what is the required retention period for contract files after final payment?

Accepted Answer

6 years and 3 months

Answer

FAR 4.703 generally requires retention of contractor records for 6 years and 3 months after final payment for most contracts.

Question 2

The Anti-Deficiency Act prohibits federal agencies from doing which of the following?

Accepted Answer

Obligating funds in excess of appropriations

Answer

The Anti-Deficiency Act prohibits agencies from obligating or expending funds beyond what has been appropriated by Congress.

Question 3

Which FAR clause gives the government the right to terminate a contract for its convenience?

Accepted Answer

FAR 52.249-1

Answer

FAR 52.249-1 (and related clauses in FAR 52.249 series) provides the government's right to terminate for convenience.

Question 4

A COR is reviewing a contractor's invoice. Under the Prompt Payment Act, when must the government pay a proper invoice?

Accepted Answer

Within 30 days

Answer

The Prompt Payment Act requires the government to pay proper invoices within 30 days or pay interest penalties.

Question 5

Which of the following best describes an 'undefinitized contract action' (UCA)?

Accepted Answer

A contract where work begins before final price is agreed upon

Answer

A UCA (also called a letter contract) allows work to begin while price and other terms are still being negotiated.

(COR) Contracting Officer's Representative Certification Practice Test