CFCM Exam Practice Test Questions & Answers 100% Correct!!
2 views 0 purchase
Course
CFCM E
Institution
CFCM E
What is a Certificate of Competency - ANSWERA 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 ind...
CFCM Exam Practice Test Questions &
Answers 100% Correct!!
What is a Certificate of Competency - ANSWERA 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? - ANSWER$35,000
What can a contractor access online at www.fedbizopps.gov? - ANSWERThe government wide point
of entry
Size Standards - ANSWERFAR 19.102(b)(3): "(Small business size standards are applied by) Specifying
the size standard in the solicitation so that offerors can appropriately represent themselves as small
or large"
When may an agency be required to use simplified acquisition procedures? - ANSWERWhen the
value of the contract is $100,000
How is the publication of a paid advertisement in a newspaper authorized? - ANSWERFAR 5.502
"Authority to approve the publication of paid advertisements in the newspaper is vested in the head
of each agency. This approval authority may be delegated" Must be a written authorization from the
head of the agency.
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? - ANSWEROption
If a prospective contractor is qualified and eligible to receive award, but lacks adequate financial
resources to perform the contract, can the contractor be determined responsible? - ANSWERIf the
contractor presents evidence of the ability to obtain adequate financial resources, the contractor
may be determined responsible.
,This is not a method for simplified acquisition - ANSWERAdvanced Agreement
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? - ANSWERNot 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 -
ANSWERFreedom of Information Act
Who is responsible for printing, publishing, and distributing the Federal Acquisition Regulation? -
ANSWERThe FAR Secretariat, as authorized by GSA
Which FAR part prescribes policies and procedures unique to the acquisition of commercial items? -
ANSWERFAR Part 12
Which of the following is necessarily rue about a cost that is assignable or chargeable to one of the
most cost objectives on the basis of relative benefits received or other equitable relationship? -
ANSWERThe cost is allocable
A defense subcontractor provides a gift of vehicles to a prime contractor, and in return the prime
contractor awards the subcontractor a valuable military subcontract. What will happen next? -
ANSWERThe prime contractor and the subcontractor are subject to civil and criminal penalties
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? -
ANSWERThe mineral can be acquired from a foreign source if it is in the best interest of the
Government.
Which contract types allow for disallowing costs during the course of performance, after the costa
have been incurred? - ANSWERCost reimbursement contracts, the cost-reimbursement portion of
fixed-price contracts, letter contracts that provide for reimbursement of costs, and time and material
and labor-hour contracts provide for disallowing costs during the course of performance after the
costs have been incurred.
, 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? -
ANSWERA tradeoff process
The obtaining of opinions, special knowledge, or skills from noted experts would be included in what
kind of service? - ANSWERAdvisory and assistance service
Who is authorized to execute contract modifications on behalf of the Government - ANSWEROnly 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 - ANSWERFAR 38
If hazardous materials are expected to be used during contract performance, what must the
apparent successful offeror do prior to contract award? - ANSWERFurnish hazardous material data
on a Material Safety Data Sheet
A failure in estimating, accumulating, or reporting costs to comply with applicable cost accounting
standards is called what? - ANSWERNoncompliance
Who is authorized to sign a contract on behalf of the US? - ANSWEROnly the Contracting Officer
A cash fund of fixed amount established by an advance of funds, for disbursement in cash for
relatively small amounts is called what? - ANSWERImprest Fund
The Governments policy is to try to resolve all contractual issues in controversy by what? -
ANSWERMutual agreement at the contracting officers level
Which of the following does not justify the use of emergency acquisition flexibilities? - ANSWERThe
acquisition is to replace Government property that was involved in a crime.
Which function must be delegated to a CAO if the agency has not designated the CO to perform it? -
ANSWERNegotiate forward price agreements
Which of the following is not an example of information technology? - ANSWERA buildings digital
thermostat
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ClassRep2. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
