CONl 3990Vl Examl Latestl 2026l 2027l

CONl 3990Vl Examl (Latestl 2026/l 2027l Update)l 100%l Verifiedl Questionsl &l Answersl |l Gradel A

Q:l Whatl doesl al KOl needl priorl tol commencementl ofl negotiationsl forl al solel sourcel contractl orl anl awardl withoutl fulll andl openl competition?

Answer:

Justificationl &l Approvall (J&A)

Q:l Thel KOl shalll notl awardl al sole-sourcel contractl forl anl amountl exceedingl $25Ml

unless:

Answer:

Theyl havel signedl al Justificationl andl Approvall (J&A),l tol justifyl thel lackl ofl competition.

Q:l Al Justificationl &l Approvall (J&A)l shouldl includel whichl ofl thel following?

Answer:

Descriptionl ofl thel action,l statutoryl authority,l andl markerl researchl conducted.

Q:l Whatl arel thel thresholdsl forl J&Al approval?

Answer:

underl $750l -l KOl approval overl $750kl andl underl $100Ml -l HCA overl $100Ml -l seniorl procurementl executive

Q:l Whatl arel thel basicl elementsl requiredl forl al contractl tol bel legallyl binding?

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Answer:

Mutuall Assent,l Adequatel Consideration,l Capacity,l Legality

Q:l Whatl isl impliedl actuall authority?

Answer:

Authorityl tol dol whatl isl usual,l customaryl andl necessaryl tol accomplishl thel task.l Impliedl actuall authorityl allowsl anl individuall tol performl necessaryl tasksl thatl arel inherentl tol theirl role.l

(e.g.,l whenl anl individuall isl assignedl al taskl tol accomplishl butl thel minorl detailsl arel notl spelledl outl eitherl verballyl orl inl writing,l thisl isl anl examplel ofl impliedl actuall authority).

Q:l Whatl isl expressl actuall authority?

Answer:

Authorityl createdl byl explicitl language,l eitherl inl writingl orl verbally.l Expressl actuall authorityl isl directlyl grantedl throughl clear,l explicitl instructions.

Q:l Whatl isl apparentl authority?

Answer:

Authorityl thatl existsl whenl someonel reasonablyl believesl anl individuall hasl thel authorityl tol actl onl behalfl ofl thel Government.l

Apparentl authorityl occursl whenl actionsl leadl othersl tol believel anl individuall hasl authority,l evenl ifl theyl don't.

Q:l Whatl isl considerationl inl al contract?

Answer:

Somethingl ofl valuel thatl thel promisorl receivesl froml thel promisee.

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Considerationl isl thel valuel exchangedl inl al contractl thatl motivatesl thel partiesl tol enterl intol anl agreement.

Q:l Al contractl isl notl enforceablel without:

Answer:

Consideration

Q:l Whatl isl lawfull purpose?

Answer:

Thel necessityl thatl al contractl doesl notl violatel publicl policyl orl law.

Q:l Whatl isl capacityl inl contractl law?

Answer:

Thel abilityl tol understandl andl appreciatel thel termsl ofl thel contract.

Q:l Whatl isl mutuall assentl inl contractl law?

Answer:

Thel conditionl wherel eachl partyl makesl al promisel orl beginsl tol renderl performance.

Whenl bothl partiesl agreel tol thel termsl andl conditionsl ofl thel contract,l usuallyl throughl anl offerl anl acceptance.

Q:l Whatl isl al commerciall product?

Answer:

Al productl availablel tol thel generall publicl forl purposesl otherl thanl governmentall use.

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