BUNDLED CFCM Exam Study Questions and Answers 100% Verified 2024 Graded A

How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - Every 5 years A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - determinati...

A cost is reasonable if, in its nature and amount, it does not exceed - that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated - after the incurrence of the costs involved. Under the Assignment of Claims Act, a contr...

How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? (a) Annually (b) Bi-annually (c) Every five years (d) Only as required - (c) Every five years (FAR 1.109) A form of written approval signed by an authorized official that is required by statut...

CFCM Study Questions with Correct Answers Graded A 2024

Certificate of Competency - issued by the SBA stating that the holder is responsible for the purpose of receiving and performing a specific government contract (FAR 19.601(a)) Except as specifically permitted by executive agencies, the fast payment procedure may not be used for individual purchas...

Which of the following is NOT a reason to contract for Advisory and Assistance services? - Obtain work of a policy, decision-making, or managerial nature which is the direct responsibility of agency officials Which of the following contract types is prohibited by the Federal Acquisition Regulatio...

What is the FAR system? - for acquisitions by all executive branches What is the FAR system? - The FAR and all agency acquisition regulations that implement or supplement the FAR What is the vision for federal acquisition? Timely $PS Policy and Trust - deliver on a timely basis the best val...

Contracting Officers below the level of _________ shall be selected and appointed. - Head of Contracting Activity The simplified acquisition threshold for any contract in support of contingency operations to be awarded and performed, or purchase to be made, outside of the U.S. is ____________ . -...

What is a Certificate of Competency - 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...

CTCM Exam Guide Questions And Answers Graded A 2024

Project Management is defined as: - The discipline of defining and achieving specific goals and objectives for temporary and unique efforts through effective management. An individual responsible for managing the successful planning, implementation, and execution of a system, service or product t...