CFCM Final Exam Questions and Answers With Verified Solutions 2025
The FAR requires agencies to report bids or proposal that - ✔✔Show evidence of an industry pricelist
The practice of submitting an unrealistically low bid with the expectation of recouping the loss on
change orders or subsequent business - ✔✔buying-in
Government contractors must have a written code of ethics. Which of the following is NOT required in
the contractor's compliance training and internal control program - ✔✔Facilitates meeting company
goals for profitability
The ethical conduct of personnel involved in the acquisition of goods and services. Within the Federal
Government business shall be conducted in a manner above reproach and except as authorized by law
or regulation with complete impartiality and without preferential treatment - ✔✔Business Ethics
The Federal Acquisition Regulation is prepared, issued, and maintained and the FAR system is prescribed
jointly by the following except - ✔✔The Secretary of Commerce
Contracting Officers are responsible for ensuring performance of all necessary actions for effective
contracting, ensuring compliance with the terms of the contract, and safeguarding the interests of the
United States in its contractual relationships. In order to perform these responsibilities, contracting
officers should be allowed wide latitude to exercise business judgment. Contracting officers shall do the
following EXCEPT - ✔✔Appoint a Contracting Officer's Representative (COR) for all Contracts regardless
of type over the Simplified Acquisition Threshold (SAT)
The approval of an unauthorized commitment by an official who has the authority to do so is called -
✔✔Ratification
A special form of written approval by an authorized official that is required by statute or regulation as a
prerequisite to taking certain contract actions is - ✔✔A determination and finding
Services provided under contract by nongovernmental sources to support or improve: Organizational
policy development; decision-making; management and administration; program and/or project
management and administration; or R&D activities are - ✔✔Advisory and Assistance Services
, A written demand or written assertion by one of the contracting parties seeking, as a matter of right, the
payment of money in a sum certain, the adjustment or interpretation of contract terms, or other relief
arising under or relating to the contract is a - ✔✔Claim
If the seller or consignor places the goods on the conveyance. Unless the contract provides otherwise,
the buyer or consignee is responsible for the cost of shipping and risk of loss - ✔✔FOB Origin
A contract with a partnership shall be signed in the partnership name. Before signing for the
Government, the contracting officer shall - ✔✔Require a list of all partners and ensure the individual
signing has the authority to bind the partnership
Contractors shall make available records, which includes books, documents, accounting procedures and
practices, and other data, regardless of type and regardless of whether such items are in written form,
in the form of computer data, or in any other form, and other supporting evidence to satisfy contract
negotiation, administration, and audit requirements of the contracting agencies and the Comptroller
General for - ✔✔3 years after final payment
In general, a contract may not be awarded unless the contracting officer can verify the contractor's
registration and filing of appropriate information in: - ✔✔The Central Contractor Registry (CCR)
Proposed contracting actions expected to exceed $__________ must be publicized by synopsizing in the
Governmentwide Point of entry (GPE) - ✔✔$ 25,000
Contracting officers shall promote and provide for ______ competition in soliciting offers and awarding
Government contracts. - ✔✔Full and Open
Agencies may exclude a particular source from a contract action in order to establish or maintain an
alternative source or sources for the supplies or services being acquired if the agency head determines
that to do so would - - ✔✔Ensure the continuous availability of a reliable source of supplies
Under FAR Part 6.2 Contracting officers may set aside contracts for any of the following reasons EXCEPT
- ✔✔to fulfill the statutory requirements of doing business with Native American owned businesses
The FAR requires agencies to report bids or proposal that - ✔✔Show evidence of an industry pricelist
The practice of submitting an unrealistically low bid with the expectation of recouping the loss on
change orders or subsequent business - ✔✔buying-in
Government contractors must have a written code of ethics. Which of the following is NOT required in
the contractor's compliance training and internal control program - ✔✔Facilitates meeting company
goals for profitability
The ethical conduct of personnel involved in the acquisition of goods and services. Within the Federal
Government business shall be conducted in a manner above reproach and except as authorized by law
or regulation with complete impartiality and without preferential treatment - ✔✔Business Ethics
The Federal Acquisition Regulation is prepared, issued, and maintained and the FAR system is prescribed
jointly by the following except - ✔✔The Secretary of Commerce
Contracting Officers are responsible for ensuring performance of all necessary actions for effective
contracting, ensuring compliance with the terms of the contract, and safeguarding the interests of the
United States in its contractual relationships. In order to perform these responsibilities, contracting
officers should be allowed wide latitude to exercise business judgment. Contracting officers shall do the
following EXCEPT - ✔✔Appoint a Contracting Officer's Representative (COR) for all Contracts regardless
of type over the Simplified Acquisition Threshold (SAT)
The approval of an unauthorized commitment by an official who has the authority to do so is called -
✔✔Ratification
A special form of written approval by an authorized official that is required by statute or regulation as a
prerequisite to taking certain contract actions is - ✔✔A determination and finding
Services provided under contract by nongovernmental sources to support or improve: Organizational
policy development; decision-making; management and administration; program and/or project
management and administration; or R&D activities are - ✔✔Advisory and Assistance Services
, A written demand or written assertion by one of the contracting parties seeking, as a matter of right, the
payment of money in a sum certain, the adjustment or interpretation of contract terms, or other relief
arising under or relating to the contract is a - ✔✔Claim
If the seller or consignor places the goods on the conveyance. Unless the contract provides otherwise,
the buyer or consignee is responsible for the cost of shipping and risk of loss - ✔✔FOB Origin
A contract with a partnership shall be signed in the partnership name. Before signing for the
Government, the contracting officer shall - ✔✔Require a list of all partners and ensure the individual
signing has the authority to bind the partnership
Contractors shall make available records, which includes books, documents, accounting procedures and
practices, and other data, regardless of type and regardless of whether such items are in written form,
in the form of computer data, or in any other form, and other supporting evidence to satisfy contract
negotiation, administration, and audit requirements of the contracting agencies and the Comptroller
General for - ✔✔3 years after final payment
In general, a contract may not be awarded unless the contracting officer can verify the contractor's
registration and filing of appropriate information in: - ✔✔The Central Contractor Registry (CCR)
Proposed contracting actions expected to exceed $__________ must be publicized by synopsizing in the
Governmentwide Point of entry (GPE) - ✔✔$ 25,000
Contracting officers shall promote and provide for ______ competition in soliciting offers and awarding
Government contracts. - ✔✔Full and Open
Agencies may exclude a particular source from a contract action in order to establish or maintain an
alternative source or sources for the supplies or services being acquired if the agency head determines
that to do so would - - ✔✔Ensure the continuous availability of a reliable source of supplies
Under FAR Part 6.2 Contracting officers may set aside contracts for any of the following reasons EXCEPT
- ✔✔to fulfill the statutory requirements of doing business with Native American owned businesses
