Cfcm exam Study guides, Class notes & Summaries

CFCM Exam Practice Test -2024 Graded A+

CFCM Exam Study Guide with Complete Solutions

The Federal Acquisition System was established for the codification and publication of uniform policies and procedures for acquisition by all legislative agencies. True or False? - correct answer -False. " . . .for acquisition by all EXECUTIVE agencies." What is the primary document (and agency regulations that implement or supplement this document) of the Federal Acquisition Regulations System? a. Code of Federal Regulations (CFR) b. The Defense Acquisition Regulations (DAR) c. The U....

Which of the following statements is NOT true? a. The government encourages the maximum practicable commercial use of inventions made under government contracts. b. The government recognizes rights in data developed at private expense, and limits its demands for delivery of that data. c. The government requires that contractors obtain permission from copyright owners before including copyrighted works, owned by others, in data to be delivered to the government. d. Generally, the governmen...

The contracting officer to the extent Practicable provide maximum participation to small biz,sdvosb, vosb, hub zone , women owned. Contracting officers must take the following steps. - ANSWER-1. Plan an acquisition for more then one small business concern e issuing solicitation, make an effort to find more sb concerns, should include sba procurement rep. cize solicitations through gpe. the event of equal low bid award first to sb concerns that are labor surplus 5. Prepare solicitation with max ...

The Federal Acquisition System was established for the codification and publication of uniform policies and procedures for acquisition by all legislative agencies. True or False? False. " . . .for acquisition by all EXECUTIVE agencies." What is the primary document (and agency regulations that implement or supplement this document) of the Federal Acquisition Regulations System? a. Code of Federal Regulations (CFR) b. The Defense Acquisition Regulations (DAR) c. The U.S. Code (U.S....

"Commercial Item" under FAR Part 12 (for MCQs)? - ANSWER-1. Any item, other than real property, that is of a type customarily used by the general public or by non-governmental entities for purposes other than governmental purposes, and— (i) Has been sold, leased, or licensed to the general public; or (ii) Has been offered for sale, lease, or license to the general public; 2. Any item that evolved from an item described in paragraph (1) of this definition through advances in technology o...

A cost is reasonable if, in its nature and amount, it does not exceed - correct answer -that which would be incurred by a prudent person in the conduct of competitive business. Advance Agreements should not be negotiated - correct answer -after the incurrence of the costs involved. Under the Assignment of Claims Act, a contractor may assign moneys due or to become due under a contract if it meets all but which of the following? - correct answer -The contract specifies payments aggregating ...

CFCM Exam Practice Test Questions and Answers with Verified Solutions 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 purchasing instruments exceeding what amount? $35,000 What can a contractor access online at ? The government wide point of entry S...

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 purchasing instruments exceeding what amount? $35,000 What can a contractor access online at ? The government wide point of entry Size Standards FAR 19.102(b)(3): "(Small business size standards are...