CFCM Final Review Questions and Answers Graded A+

CFCM Final Review Questions and Answers Graded A+ The FAR is prepared, issued, and maintained by: a. The Executive Office of the President. b. The Office of Management and Budget and the General Services Administration. c. The Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space Administration. d. The National Contract Management Association. - Answer ️️ -c. The Secretary of Defense, the Administrator of General Services, and the Administrator of the National Aeronautics and Space Administration. Which of the following is not one of the contracting officer's authorities and responsibilities? a. To obtain the lowest price on behalf of the government. b. To enter into and sign contracts on behalf of the government. c. To ensure that all requirements of law, executive orders, regulations, and all other applicable procedures including clearances and approvals have been met. d. To terminate contracts and make related determinations and findings. - Answer ️️ -a. To obtain the lowest price on behalf of the government This term refers to consolidating two or more requirements for supplies or services previously provided or performed under separate or small contracts into a solicitation for a single contract that is likely to be unsuitable for award to a small business concern. a. Subcontracting b. Grouping c. Joinder d. Bundling - Answer ️️ -d. Bundling The standard micropurchase threshold is: a. $3,500 b. $2,000 c. $2,500 d. $3,000 - Answer ️️ -a. $3,500 Which of the following is not considered an offer? a. A response to an invitation for quotations b. A response to an invitation for proposals c. A response to an invitation for bids d. A response to a solicitation that, if accepted, would bind the offeror to perform the resultant - Answer ️️ -a. A response to an invitation for quotations What is the federal policy on standards of conduct? a. The general rule is to avoid strictly any conflict of interest except for token gifts or gratuities in government-contractor relationships. b. The general rule is to avoid strictly any conflict in government-contractor relationships. c. The general rule is to avoid strictly any conflict of interest or even the appearance of a conflict of interest in government-contract relationships. d. The general rule is to avoid conflict of interest in government-contractor relationships, unless a full public disclosure is made. - Answer ️️ -c. The general rule is to avoid strictly any conflict of interest or even the appearance of a conflict of interest in government-contract relationships. The Kickbacks statute forbids a subcontractor from d