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Regulatory Compliance Flashcards

7 cards from real CPP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Regulatory Compliance flashcards as text

  1. Under the federal Truthful Cost or Pricing Data Act (TINA), certified cost or pricing data is generally required for negotiated contracts expected to exceed:

    Answer: $2.5 million

    The FY2018 NDAA raised the TINA threshold to $2.5 million, and the FAR applies it when no exception such as adequate price competition applies.

  2. A federal construction contract will exceed $2,000. Which law requires contractors to pay laborers and mechanics locally prevailing wages and fringe benefits?

    Answer: Davis-Bacon Act

    The Davis-Bacon Act requires prevailing wages on federal construction contracts over $2,000.

  3. Which statute requires performance and payment bonds on federal construction contracts above a set dollar threshold?

    Answer: Miller Act

    The Miller Act requires payment bonds to protect subcontractors and suppliers, plus performance bonds to protect the government, because federal property cannot be liened.

  4. Under the federal Prompt Payment Act, if an agency pays a proper invoice late, the agency generally must:

    Answer: Pay interest penalties to the contractor automatically

    The Prompt Payment Act requires agencies to pay interest penalties automatically on late payments, generally after 30 days from receipt of a proper invoice.

  5. A whistleblower files suit claiming a contractor knowingly billed the government for parts it never delivered. Under the False Claims Act, a liable contractor faces:

    Answer: Treble damages plus per-claim civil penalties

    The False Claims Act imposes three times the government's damages plus inflation-adjusted civil penalties for each false claim, and qui tam relators may share in the recovery.

  6. Under FAR 52.203-13, a contractor that has credible evidence that a principal violated federal criminal law involving fraud or bribery on a government contract must:

    Answer: Timely disclose it in writing to the agency Office of Inspector General and the contracting officer

    The mandatory disclosure rule requires timely written disclosure to the OIG, with a copy to the contracting officer, when there is credible evidence of such violations.

  7. Unless a longer period is specified, FAR 4.703 generally requires contractors to keep records relating to a contract for how long after final payment?

    Answer: 3 years

    FAR 4.703 sets a general retention period of three years after final payment, with specific exceptions listed in subpart 4.7.