FCC Ethics, Risk Management & Reporting 2

Question 1

Under FAR 52.203-13, contractors with contracts over $5 million and a performance period of 120 days or more must establish which of the following?

Accepted Answer

A written code of business ethics and conduct within 30 days of contract award

Answer

FAR 52.203-13 requires covered contractors to establish a written code of business ethics and conduct within 30 days of contract award.

Question 2

Which federal law makes it a criminal offense for a contractor employee to knowingly make a false claim against the United States government?

Accepted Answer

The False Claims Act (31 U.S.C. § 3729)

Answer

The False Claims Act (31 U.S.C. § 3729) imposes civil and criminal liability on individuals who knowingly submit false or fraudulent claims to the federal government.

Question 3

A contractor discovers that a subcontractor has been billing for materials never delivered. What is the contractor's obligation under FAR 52.203-13?

Accepted Answer

Timely disclose the violation to the agency Inspector General and contracting officer

Answer

FAR 52.203-13 requires timely disclosure of credible evidence of contract fraud to the agency Inspector General and contracting officer.

Question 4

In the context of federal contractor risk management, what does 'residual risk' mean?

Accepted Answer

Risk that remains after mitigation controls have been applied

Answer

Residual risk is the level of risk that remains after mitigation strategies and controls have been implemented.

Question 5

What is the primary purpose of the Procurement Integrity Act (41 U.S.C. § 2101-2107)?

Accepted Answer

To prohibit the disclosure of contractor bid or proposal information and source selection information

Answer

The Procurement Integrity Act prohibits the unauthorized disclosure of contractor bid/proposal information and source selection information during the acquisition process.

(FCC) Federal Contracting Certification Practice Test

(FCC) Federal Contracting Certification Practice Test

FCC Ethics, Risk Management & Reporting 2