FAC Documentation & Reporting 3

Question 1

When must agencies report contract actions to the Federal Procurement Data System – Next Generation (FPDS-NG)?

Accepted Answer

Within 30 days after the end of the month in which the action occurred

Answer

FAR 4.604 requires agencies to submit FPDS-NG reports within 30 days after the end of the month in which the contract action occurred.

Question 2

Which document records the rationale for selecting a particular contract type (e.g., firm-fixed-price vs. cost-reimbursement)?

Accepted Answer

Determination and Findings (D&F)

Answer

A Determination and Findings (D&F) documents the legal and factual basis for decisions such as contract type selection, as required under FAR Part 1.707.

Question 3

What information is the Price Negotiation Memorandum (PNM) specifically required to document?

Accepted Answer

The basis for determining that the price negotiated is fair and reasonable

Answer

The PNM documents the contracting officer's analysis and the rationale for concluding the negotiated price is fair and reasonable, as required by FAR 15.406-3.

Question 4

Under which scenario is a Synopsis in SAM.gov NOT required before contract award?

Accepted Answer

The acquisition is an unusual and compelling urgency exception under FAR 6.302-2

Answer

FAR 5.202 exempts synopses when the contracting officer determines that an unusual and compelling urgency exists and delay would seriously injure the public interest.

Question 5

A contracting officer closes out a contract. Which of the following is a required closeout action related to documentation?

Accepted Answer

Verifying that all contractor deliverables and reports have been received and accepted

Answer

Contract closeout requires the CO to verify all deliverables, final invoices, and required reports have been received and accepted before closing the file.

(FAC) Federal Acquisition Certification Practice Test

(FAC) Federal Acquisition Certification Practice Test

FAC Documentation & Reporting 3