Cfcm exam stuvia 2023 Study guides, Class notes & Summaries

"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...

What is a Certificate of Competency - 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? - ANSWER-$35,000 What can a contractor access online at ? - ANSWER-The government wide point of entry Size Standards - ANSWER-FAR 19.102(b)(...

Which of the following is NOT a reason to contract for Advisory and Assistance services? - ANSWER-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 Regulation for federal agencies and prime contractors? - ANSWER-cost-plus-a-percentage-of-cost The Contract Disputes statute covers - ANSWER-claims by a contractor against the Government. Performa...

What is the primary document of the Federal Acquisition Regulation System? (FAR 1.1) - ANSWER-FAR, the Federal Acquisition Regulation Best Value (FAR 2.1): - ANSWER-The expected outcome of an acquisition that, in the government's estimation, provides the greatest overall benefit in response to the requirement. Claim (FAR 2.1): - ANSWER-A written demand or written assertion by one of the contracting parties seeking the payment of money in a sum certain, the adjustment or interpretation of ...