FAR PART 42; AUDIT WHO?
Who is responsible for submitting information and advice to the requesting agency?
Auditor FAR 42.101(a)(1)
What agency is responsible for maintaining and distributes the Directory of Federal Contract Audit Offices?
The Defense Contract Audit Agency (DCAA) FAR 42.103(a)
Can the contracting officer establish final indirect cost rates and billing rates for those contractors meeting the criteria for the contracting officers determination?
No. The contracting officer can not retain this function, it must be the CAO. FAR 42.302(a)(9)
When deciding whether postaward orientation is necessary and, if so, what form it shall take, what shall the contracting officer consider as a minimum?
The nature and extent of the preaward survey and any other prior discussions with the contractor. FAR 42.502(a)
Who is responsible for contract closeout and the negotiation of the settlement of direct and indirect costs for a specific contract, task order, or delivery order to be closed?
The contracting officer. FAR 42.708(a)
Who is responsible for the analysis of contractor's financial and accounting records?
Auditor FAR 42.101(a)(1)
Name one function that each contract assigned for administration, the contract administration office (CAO) shall perform? A) Review the contractor's compensation structure. B) Review the contractor's insurance plans. C) Conduct post-award orientation conferences. D) None of the above E) All the above.
E) All the above FAR 42.201(a)
Government personnel planning to visit a contractor's facility in connection with one or more Government contract shall provide the cognizant CAO with what information?
1) Visitor's names, official positions, and security clearances. 2) Date and duration of visit. FAR 42.402(a)(1)(2)
What term is used to define an indirect cost rate and is established temporarily for interim reimbursement of incurred indirect costs?
BILLING RATE FAR 42.701(1)
Cost-sharing arrangements, when authorized, may call for the contractor to participate in the cost of the contract by accepting what conditions?
indirect cost rates lower than the anticipated actual rates. FAR 42.707(a)
Who is responsible for performing analyses and reviews that require access to the contractor's financial and accounting records supporting proposed and incurred costs?
Auditor FAR 42.101(a)(3)
TRUE or FALSE? The contracting officer shall advise the contractor (and any other activities as appropriate) of any functions withheld from or additional functions delegated to the CAO.
TRUE. FAR 42.202(b)
Onsite inspections or evaluations of the performance of the assigned functions of a contract administration office shall be accomplished under what conditions?
Only by or under the direction of the agency of which that office is a part FAR 42.403
Final indirect cost rates shall be used for contract closeout for a business unit, unless?
the quick closeout procedure is used. FAR 42.703-1(c)(1)
When the contracting Officer is notified of a contractor bankruptcy proceedings, the agency shall, as a minimum conduct what specific actions?
Furnish the notice of bankruptcy to legal counsel and other appropriate agency offices and affected buying activities. Take actions necessary to protect the government's financial interest and safeguard government property. FAR 42.902(a)(1)-(4)
Normally, for contractors other than educational institution and nonprofit organization, who is responsible government audit agency?
Defense Contract Audit Agency(DCAA)FAR 42.101(b)
As provided in agency procedures, contracting officers may delegate contract administration or specialized support services how?
Either through interagency agreements or by direct request to the cognizant (CAO) listed in the Federal Directory of Contract Administration Services Components. FAR 42.202(a)
Postaward orientation aids both the government and the contractor personnel to accomplish what?
Achieve a clear and mutual understanding of all contract requirements. FAR 42.501(a)(1)
Under what conditions shall final indirect cost rates be established?
1) Contracting Officer determination procedure 2) Auditor determination procedure FAR 42.705(a)(1)-(2)
What activity is a function of contract administration used to determine contractor progress and to identify any factors that may delay performance? A) Quality Assurance B) Production Surveillance C) No Notice Spot Evaluations D) Information Analysis
B) Production Surveillance FAR 42.1101(a)(b)
Who is responsible for reviewing the financial and accounting aspects of the contractor's cost control systems?
An order placed under a (1) Federal Supply Schedule contract; or (2) Task-order contract or delivery-order contract awarded by another agency FAR 42.101(a)(2)
The contracting officer normally delegates contract administration functions to a CAO. However, the contracting officer may retain certain administrative functions except? A) Issue Notices of Intent to Disallow or not Recognize Costs. B) Review and evaluate contractor's proposals. C) Negotiate forward pricing rate agreements. D) Attempt to resolve issues in controversy, using ADR.
C) Negotiate forward pricing rate agreements FAR 42.302(a)(5)
The government should conduct postaward orientations to encourage what concerns? A) Small business concerns B) Small disadvantaged business concerns C) Veteran Owned small business concerns D) SDVOSB concerns E) All the above F) None of the above
E) All the above. FAR 42.501(b)(1)-(6)
When the contracting officer decides that a conference is needed he/she is responsible for want actions? A) Establishing the time and place of the conference. B) Establishing the travel arrangements. C) Designating or acting as the chairperson. D) Only A and B E) A and C
E) A and C FAR 42.501(a)(1)-(6)
When does a notice of intent to disallow a cost usually occur during the performance of a contract?
When monitoring contractor costs, it is the responsibility of the contracting officer to notify the contractor as early as practicable during contract performance that a subjected cost is considered unallowable under the terms of the contract and provide for timely resolution. FAR 42.801(b)