CFCM Exam Questions and Answers With Verified Solutions 2025
SF 1449 (std form for acq. of commercial items) - ✔✔A CO should use SF 1449 for acquisitions under
Simplified Acq. Threshold (SAT) but it SHALL use this form for acqs. over SAT.
FAR 12.5 provisions of law not applicable to acq. of Commercial Items (examples below): - ✔✔Examples
are: covenant against contingent fees (FAR 3.404), minimal response time for offers (FAR 5.203), drug-
free workplace restriction (FAR 23.5). See other details in FAR 12.503, 12.504, & 12.505.
The use of cost-reimbusable contracts is prohibited for the acquisition of __________. - ✔✔Commercial
Items.
Which type of contracts should be used for the acquisition of commercial items [FAR 12.207(a) and FAR
12.207(b)(1)]? - ✔✔FAR 12.207(a): "Except as provided in paragraph (b) of this section, agencies shall
use firm-fixed-price contracts or fixed-price contracts with economic price adjustment for the
acquisition of commercial items." and FAR 12.207(b)(1)
Contracting activities shall employ SAP to the max extent practicable for acq. of commercial items not
exceeding __________________ (FAR 12.203)? - ✔✔$7,000,000 ($13 million for acquisitions as
described in 13.500(c), including options, contracting activities may use any of the simplified procedures
authorized by subpart 13.5.
CAS do not apply to contracts and subks for commercial acq. unless
_____________________________________________ (FAR 12.214)? - ✔✔the contract provides for an
economic price adjustment based on actual costs incurred.
When acquiring commercial items, the CO must estb price reasonableness IAW
_____________________________ (FAR 12.209)? - ✔✔13.106-3, 14.408-2, or Subpart 15.4, as
applicable.
To the maximum extent practicable, all contracts for the acquisition of commercial items shall include
which clauses [FAR 12.301(a)]? - ✔✔Only those required to implement laws (or executive orders)
applicable to the acq. of commercial items, or those determined to be consistent with customary
commercial practice
,What are the prohibitions on obtaining Certified Cost
or Pricing Data? - ✔✔1. Acquisitions at or below the SAT.
2. Prices are: (a) based on adequate price competition, (b) set by law or regulation
3. Commercial items (or modifications to commercial items)
4. When a waiver has been granted.
(NOTE: certified cost & pricing data are different categories than that of cost & price analysis - the latter
doesn't require a formal certification and is based on a mere business judgement diligence in review by
the CO anytime to ascertain price reasonableness)
Agencies to conduct market research before: - ✔✔1. Developing new reqt. docs for acq.
2. Soliciting offers for acq. w/ est. value in excess of SAT.
3. Soliciting offers for acq. w/ est. value less than SAT, when:
a) adequate info is not available, and
b) circumstances justify its cost, and
c) before soliciting offers for acq. leading to a bundled contract
FAR Part 12 is not an acquisition method - ✔✔- Only FAR Parts 13, 14, & 15 constitute acq. methods.
- Part 12 principles used w/ one of the acq. methods to simplify the process
The extent of market research will vary, depending on which factors? - ✔✔Such as:
URGENCY
EST. DOLLAR VALUE
COMPLEXITY
PAST EXPERIENCE
Liquidated Damages (FAR 11.5) - ✔✔This part prescribes policies & procedures for using liquidated
damages clauses in SOLICITATIONS & CONTRACTS for:
- Supplies
, - Services
- R&D (research & development)
- and Construction
Note: this sub part doesn't apply to LDs for Subk plans or LDs relating to Contract Work Hrs & Safety Stds
Act.
Micro purchase Threshold - ✔✔Generally $3500
EXCEPTIONS:
1. Construction contracts (Wage Stds): $2,000
2. Service contracts (Service Contract Labor Standards): $2,500.
3. Contingency ops & NBCW recovery inside the US: $20,000
4. Contingency ops & NBCW recovery outside the US: $30,000
Simplified Acquisition Thershold (SAT) - [FAR 13.5] - ✔✔Generally $150,000
EXCEPTIONS:
1. $300,000 for contingency Ops inside the US.
2. $1 Million for contingency Ops outside the US
Simplified Acquisition Procedures (SAP) - ✔✔For the acq. of certain commercial items (supplies & svcs)
in amounts greater than SAT, but Not exceeding $7M incl options ($13M in contingency ops or nbcr
recovery from attack), SAP can be employed.
A system wehreby the CO receives auth. from a fiscal & accounting officer to obligate funds on purchase
docs against a specified lump sum of funds reserved for the purpose for a specified time rather than
obtaining individual obligation auth on each purchase doc is _____________ (FAR 13.101(b)(4))? -
✔✔Bulk Funding
Definite Qty Contract - ✔✔Unknown Delivery (known Quantity)
Supplies/ services readily available
SF 1449 (std form for acq. of commercial items) - ✔✔A CO should use SF 1449 for acquisitions under
Simplified Acq. Threshold (SAT) but it SHALL use this form for acqs. over SAT.
FAR 12.5 provisions of law not applicable to acq. of Commercial Items (examples below): - ✔✔Examples
are: covenant against contingent fees (FAR 3.404), minimal response time for offers (FAR 5.203), drug-
free workplace restriction (FAR 23.5). See other details in FAR 12.503, 12.504, & 12.505.
The use of cost-reimbusable contracts is prohibited for the acquisition of __________. - ✔✔Commercial
Items.
Which type of contracts should be used for the acquisition of commercial items [FAR 12.207(a) and FAR
12.207(b)(1)]? - ✔✔FAR 12.207(a): "Except as provided in paragraph (b) of this section, agencies shall
use firm-fixed-price contracts or fixed-price contracts with economic price adjustment for the
acquisition of commercial items." and FAR 12.207(b)(1)
Contracting activities shall employ SAP to the max extent practicable for acq. of commercial items not
exceeding __________________ (FAR 12.203)? - ✔✔$7,000,000 ($13 million for acquisitions as
described in 13.500(c), including options, contracting activities may use any of the simplified procedures
authorized by subpart 13.5.
CAS do not apply to contracts and subks for commercial acq. unless
_____________________________________________ (FAR 12.214)? - ✔✔the contract provides for an
economic price adjustment based on actual costs incurred.
When acquiring commercial items, the CO must estb price reasonableness IAW
_____________________________ (FAR 12.209)? - ✔✔13.106-3, 14.408-2, or Subpart 15.4, as
applicable.
To the maximum extent practicable, all contracts for the acquisition of commercial items shall include
which clauses [FAR 12.301(a)]? - ✔✔Only those required to implement laws (or executive orders)
applicable to the acq. of commercial items, or those determined to be consistent with customary
commercial practice
,What are the prohibitions on obtaining Certified Cost
or Pricing Data? - ✔✔1. Acquisitions at or below the SAT.
2. Prices are: (a) based on adequate price competition, (b) set by law or regulation
3. Commercial items (or modifications to commercial items)
4. When a waiver has been granted.
(NOTE: certified cost & pricing data are different categories than that of cost & price analysis - the latter
doesn't require a formal certification and is based on a mere business judgement diligence in review by
the CO anytime to ascertain price reasonableness)
Agencies to conduct market research before: - ✔✔1. Developing new reqt. docs for acq.
2. Soliciting offers for acq. w/ est. value in excess of SAT.
3. Soliciting offers for acq. w/ est. value less than SAT, when:
a) adequate info is not available, and
b) circumstances justify its cost, and
c) before soliciting offers for acq. leading to a bundled contract
FAR Part 12 is not an acquisition method - ✔✔- Only FAR Parts 13, 14, & 15 constitute acq. methods.
- Part 12 principles used w/ one of the acq. methods to simplify the process
The extent of market research will vary, depending on which factors? - ✔✔Such as:
URGENCY
EST. DOLLAR VALUE
COMPLEXITY
PAST EXPERIENCE
Liquidated Damages (FAR 11.5) - ✔✔This part prescribes policies & procedures for using liquidated
damages clauses in SOLICITATIONS & CONTRACTS for:
- Supplies
, - Services
- R&D (research & development)
- and Construction
Note: this sub part doesn't apply to LDs for Subk plans or LDs relating to Contract Work Hrs & Safety Stds
Act.
Micro purchase Threshold - ✔✔Generally $3500
EXCEPTIONS:
1. Construction contracts (Wage Stds): $2,000
2. Service contracts (Service Contract Labor Standards): $2,500.
3. Contingency ops & NBCW recovery inside the US: $20,000
4. Contingency ops & NBCW recovery outside the US: $30,000
Simplified Acquisition Thershold (SAT) - [FAR 13.5] - ✔✔Generally $150,000
EXCEPTIONS:
1. $300,000 for contingency Ops inside the US.
2. $1 Million for contingency Ops outside the US
Simplified Acquisition Procedures (SAP) - ✔✔For the acq. of certain commercial items (supplies & svcs)
in amounts greater than SAT, but Not exceeding $7M incl options ($13M in contingency ops or nbcr
recovery from attack), SAP can be employed.
A system wehreby the CO receives auth. from a fiscal & accounting officer to obligate funds on purchase
docs against a specified lump sum of funds reserved for the purpose for a specified time rather than
obtaining individual obligation auth on each purchase doc is _____________ (FAR 13.101(b)(4))? -
✔✔Bulk Funding
Definite Qty Contract - ✔✔Unknown Delivery (known Quantity)
Supplies/ services readily available
