Ethics, Risk Management & Reporting Flashcards
7 cards from real FCC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Ethics, Risk Management & Reporting flashcards as text
What is the 'cone of silence' or 'blackout period' in federal contracting ethics?
Answer: A prohibition on contractor communications with agency evaluators after a solicitation is issued
The blackout period (sometimes called 'cone of silence') prohibits contractors from communicating with agency evaluators about an active procurement outside of authorized channels.
Under DCAA audit standards, what does a 'questioned cost' mean?
Answer: A cost that the auditor identifies as unallowable, unsupported, or unreasonable
A questioned cost is one that the DCAA auditor identifies as potentially unallowable, inadequately supported, or unreasonable based on audit evidence.
Which of the following is NOT an allowable cost under FAR Part 31?
Answer: Fines and penalties resulting from violations of law
FAR 31.205-15 specifically identifies fines and penalties resulting from violations of law as unallowable costs that cannot be charged to government contracts.
A risk management plan for a federal contract should be updated:
Answer: Continuously throughout the contract lifecycle as new risks emerge or existing risks change
Risk management is a continuous process; the risk register and management plan should be updated throughout the contract lifecycle as the risk environment evolves.
Under the Mandatory Disclosure Rule (FAR 52.203-13), what is the timeframe within which contractors must report credible evidence of a violation?
Answer: 'Timely' — as soon as practicable after discovery, with no fixed deadline
FAR 52.203-13 requires 'timely' disclosure, meaning as soon as practicable after the contractor has credible evidence of a violation, without specifying a fixed number of days.
Which of the following best describes the 'reasonable person' standard used in federal contractor ethics assessments?
Answer: Whether a prudent person with knowledge of the relevant facts would conclude the conduct was proper
The reasonable person standard asks whether a prudent, knowledgeable person would conclude that the conduct in question was appropriate given the circumstances.
A contracting officer suspects a contractor of defective pricing — submitting cost data that was not current at the time of agreement. Which law governs this situation?
Answer: The Truth in Negotiations Act (TINA) / 10 U.S.C. § 3702
TINA (codified at 10 U.S.C. § 3702 for DoD and 41 U.S.C. § 3502 for civilian agencies) requires contractors to submit current, accurate, and complete cost or pricing data for certain negotiations, and defective pricing violates this requirement.