CFCM Final Exam Questions with complete
solutions
What is a Certificate of Competency? - correct answer-A certificate issued by the SBA stating that the
holder is responsible, for the purpose of receiving and performing a specific Government contract
Except as specifically permitted by executive agencies, the fast payment procedure may not be used for
individual purchasing instruments exceeding what amount? - correct answer-$35,000
What can a contractor access online at www.fedbizopps.gov? - correct answer-The governmentwide
point of entry
Application of size standards includes specifying the size standard in the - correct answer-solicitation
When the value of the contract is $100,000 the agency will be required to use - correct answer-SAP
How is the publication of a paid advertisement in a newspaper authorized? - correct answer-By the head
of the agency, by giving written authorization
The unilateral right in a contract by which the Government may elect to purchase additional supplies or
services called for by the contract is called what? - correct answer-Option
If a prospective contractor is qualified and eligible to receive an award, but lacks adequate financial
resources to perform the contract, can the contractor be determined responsible? - correct answer-If the
contractor presents evidence of the ability to obtain adequate financial resources, the contractor may be
determined responsible
What are methods for simplified acquisition? - correct answer-Blanket purchase agreement,
Governmentwide commerica lpurchase card, Purchase Order
, For a contract exceeding the simplified acquisition threshold, an offeror (other than an individual) that
does not agree to provide a drug-free workplace is what? - correct answer-Not considered a responsible
source
What law specifies how agencies shall make their records available upon public request, imposes strict
time standards for agency responses, and exempts certain records from public disclosure? - correct
answer-Freedom of Information Act
Who is responsible for printing, publishing, and distributing the Federal Acquisition Regulation? - correct
answer-The FAR Secretariat, as authorized by GSA
Which FAR Part prescribes policies and procedures unique to the acquisition of commercial items? -
correct answer-FAR Part 12
Which of the following is necessarily true about a cost that is assignable or chargeable to one or most
cost objectives on the basis of relative benefits received or other equitable relationship? - correct
answer-The cost is allocable
A mineral required for production in performance of a contract is not mined in the United States, but can
be acquired from another country. How does the Buy American statute apply in this case? - correct
answer-The mineral may be acquired from a foreign source if it is in the best interest of the Government
When it is in the best interest of the Government to consider award to other than the highest technically
rated offeror, which of the following should the Government use to select the source? - correct answer-A
tradeoff process
The obtaining of opinions, special knowledge, or skills from noted experts would be included in what
kind of service? - correct answer-Advisory and assistance service
Who is authorized to execute contract modifications on behalf of the Government? - correct answer-
Only a contracting officer acting within the scope of his or her authority
Which FAR part prescribes policies and procedures for contracting for supplies and services under the
Federal Supply Schedule program? - correct answer-Part 38
solutions
What is a Certificate of Competency? - correct answer-A certificate issued by the SBA stating that the
holder is responsible, for the purpose of receiving and performing a specific Government contract
Except as specifically permitted by executive agencies, the fast payment procedure may not be used for
individual purchasing instruments exceeding what amount? - correct answer-$35,000
What can a contractor access online at www.fedbizopps.gov? - correct answer-The governmentwide
point of entry
Application of size standards includes specifying the size standard in the - correct answer-solicitation
When the value of the contract is $100,000 the agency will be required to use - correct answer-SAP
How is the publication of a paid advertisement in a newspaper authorized? - correct answer-By the head
of the agency, by giving written authorization
The unilateral right in a contract by which the Government may elect to purchase additional supplies or
services called for by the contract is called what? - correct answer-Option
If a prospective contractor is qualified and eligible to receive an award, but lacks adequate financial
resources to perform the contract, can the contractor be determined responsible? - correct answer-If the
contractor presents evidence of the ability to obtain adequate financial resources, the contractor may be
determined responsible
What are methods for simplified acquisition? - correct answer-Blanket purchase agreement,
Governmentwide commerica lpurchase card, Purchase Order
, For a contract exceeding the simplified acquisition threshold, an offeror (other than an individual) that
does not agree to provide a drug-free workplace is what? - correct answer-Not considered a responsible
source
What law specifies how agencies shall make their records available upon public request, imposes strict
time standards for agency responses, and exempts certain records from public disclosure? - correct
answer-Freedom of Information Act
Who is responsible for printing, publishing, and distributing the Federal Acquisition Regulation? - correct
answer-The FAR Secretariat, as authorized by GSA
Which FAR Part prescribes policies and procedures unique to the acquisition of commercial items? -
correct answer-FAR Part 12
Which of the following is necessarily true about a cost that is assignable or chargeable to one or most
cost objectives on the basis of relative benefits received or other equitable relationship? - correct
answer-The cost is allocable
A mineral required for production in performance of a contract is not mined in the United States, but can
be acquired from another country. How does the Buy American statute apply in this case? - correct
answer-The mineral may be acquired from a foreign source if it is in the best interest of the Government
When it is in the best interest of the Government to consider award to other than the highest technically
rated offeror, which of the following should the Government use to select the source? - correct answer-A
tradeoff process
The obtaining of opinions, special knowledge, or skills from noted experts would be included in what
kind of service? - correct answer-Advisory and assistance service
Who is authorized to execute contract modifications on behalf of the Government? - correct answer-
Only a contracting officer acting within the scope of his or her authority
Which FAR part prescribes policies and procedures for contracting for supplies and services under the
Federal Supply Schedule program? - correct answer-Part 38
