Federal Regulations & Compliance Flashcards
7 cards from real Government Procurement Certification practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Federal Regulations & Compliance flashcards as text
Under FAR 3.10, contractors with contracts over $5.5 million must have a written code of ethics and business conduct in place within how many days of contract award?
Answer: 30 days
FAR 52.203-13(b)(1) requires contractors to have a written code of business ethics and conduct within 30 days of contract award for covered contracts.
A federal contractor is subject to the mandatory disclosure rule under FAR 52.203-13. Which of the following must be disclosed to the agency Inspector General?
Answer: Credible evidence of a significant overpayment
FAR 52.203-13 requires mandatory disclosure of credible evidence of significant overpayments to the contractor on a government contract.
The Competition in Contracting Act (CICA) requires agencies to use competitive procedures when acquiring goods and services. Which authority may be used to justify a sole-source award under CICA?
Answer: Other Than Full and Open Competition (OTFOC) exception
CICA and FAR 6.3 allow sole-source awards only under specific OTFOC exceptions such as only one responsible source, unusual urgency, or national security.
A contracting officer issues a stop-work order under FAR 52.242-15. The contractor must stop all work within:
Answer: Immediately upon receipt
FAR 52.242-15 requires the contractor to immediately stop all work covered by the order upon receipt of a stop-work order.
Under the Federal Acquisition Regulation, which type of audit authority does the Defense Contract Audit Agency (DCAA) primarily exercise?
Answer: Contract cost and pricing audits on behalf of contracting officers
DCAA performs contract audit services including cost proposal audits, incurred cost audits, and accounting system reviews to assist contracting officers.
Under FAR 52.215-2 (Audit and Records — Negotiation), a contractor must make its books and records available to the Comptroller General for how long after final payment?
Answer: 3 years
FAR 52.215-2(d) requires contractors to retain and make records available to the Comptroller General for 3 years after final payment.
Which of the following contract types places the greatest cost risk on the contractor?
Answer: Firm-Fixed-Price (FFP)
Under a Firm-Fixed-Price contract, the contractor bears all cost risk because the price is set at award and does not adjust for actual costs incurred.