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CFCM Study Questions with correct answers.
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CFCM Study Questions with correct answersA _____________ is issued by the SBA and deems a contractor responsible for the desired acquisition? -
correct answer-Certificate of Competency
$35,000 - correct answer-Except as specifically permitted by executive agencies, the fast payment
procedure may not be used for individual purchasing instruments exceeding what amount?
Governmentwide point of entry - correct answer-What can a contractor access online at
www.fedbizopps.gov?
d. Application of size standards includes specifying the size standard in the solicitation - correct answer-
Which of the following is true about size standards? a. NAICS codes are updated by OMB every year b.
size standards established by the SBA are universal for all industries c. new NAICS codes can be used for
up to 12 months before SBA issues a size standard d. application of size standards includes specifying the
size standard in the solicitation
d. When the value of the contract is $100,000 - correct answer-In which of the following cases may an
agency be required to use simplified acquisition procedures? a. when acquiring supplies from FPI b.
When acquiring supplies under a FSS contract c. under an existing indefinite delivery contract d. when
the value of the contract is $100,000.
by the head of the agency, by giving written authorization - correct answer-How is the publication of a
paid advertisement in a newspaper authorized?
Option - correct answer-The unilateral right in a contract by which the Gov't may elect to purchase
additional supplies or services is called for by the contract is called what?
a. advance agreement - correct answer-Which of the following is not a method for simplified acquisition?
a. advance agreement b. Governmentwide commercial purchase card c. BPA d. PO
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