CFCM LATEST 2026 EXAMS TEST QUESTIONS AND
SOLUTIONS GUARANTEE A+
✔✔A cash fund of a fixed amount established by an advance of funds, without charge to
an appropriate, from an agency finance or disbursing officer to a duly appointed cashier
for disbursement as needed from time to time in making a payment in case for relatively
small purchases is an - ✔✔impreset fund
✔✔Impresent funds may be used for transactions up to - ✔✔$500
✔✔It is advantageous to establish blanket purchase agreements with firms who -
✔✔Offer quality supplies or services at consistently lower prices than their competitors
✔✔Which of the following is true concerning blanket purchase agreements (BPAs) -
✔✔They may be established with more than one supplier
✔✔When fast payment procedures are utilized, who is responsible for determining the
amount of debts resulting from failure of contractors to properly replace, repair, or
correct supplies lost, damaged, or not conforming to purchase requirements - ✔✔the
CO
✔✔When cancelling a purchase order, if the contractor accepts the cancellation and
does not claim that costs were incurred as a result of beginning performance under the
purchase order, then - ✔✔no further action is required and the purchase order shall be
considered canceled
✔✔Which of the following is true concerning the use of simplified acquisition procedures
- ✔✔Purchases above the micro-purchase level are generally set-aside for small
businesses
✔✔Unpriced purchase orders may be used to acquire - ✔✔repairs to equipment
requiring disassembly to determine the nature and extent of repairs
✔✔Which of the following about micro-purchases is true - ✔✔The government wide
commercial purchase card is the preferred means to purchase and pay for them
✔✔Which of the following is true about quotes - ✔✔A quote is not an offer
✔✔Which of the following concerning descriptive literature is true - ✔✔The CO may
waive the requirement for descriptive literature
✔✔Which of the following is NOT true regarding awards resulting from an invitation for
bids? - ✔✔faxed bids are always welcomed
, IS TRUE: bidders must accept all terms and conditions, bidders must comply with all
material aspects of the invitation, bids must be received by the exact time of the bid
opening
✔✔A pre-bid conference is never to be used for - ✔✔substituting an amendment for an
ambiguous invitation
*Should be for answering industrys questions, explaining requirements, and conducting
market research
✔✔THe first step of two-step bidding involves - ✔✔technical analysis only
✔✔What is acceptable evidence to establish the time of receipt at the government
installation - ✔✔time/date stamp of that installation on the bid wrapper
✔✔Which is NOT a reason to reject a bid - ✔✔The schedule contains an apparent
clerical mistake
✔✔Which of the following concerning electronic bids is true - ✔✔Contracting officers
may authorize use of electronic commerce for bids, but must specify the electronic
commerce method that bidders may use
✔✔Which of the following contract types may be used with sealed bidding procesures -
✔✔firm fixed price and sometime fixed price with economic price adjustment
✔✔In a case where equal low bids are received in response to an invitation for bids,
which category of bidder is given the highest priority for aware - ✔✔small businesses
concerns that are also located in labor surplus areas
✔✔Exchanges of information among all interested parties are encouraged - ✔✔from the
earliest identification of a requirement through receipt of proposals
✔✔A negotiated contract is - ✔✔awarded after using other than sealed bidding
procedures
✔✔Tradeoffs in the source selection process are not permitted - ✔✔when all evaluation
factors and significant subfactors and their importance are clearly stated in the
solication
✔✔Contracts are to be formatted in accordance with the uniform contract format
outlined in FAR part 15. Which contract section is not physically included in the contract,
but shall be incorporated by reference in the contract - ✔✔K(Representations,
Certifications, and other statements of Offerors or Respondents)
SOLUTIONS GUARANTEE A+
✔✔A cash fund of a fixed amount established by an advance of funds, without charge to
an appropriate, from an agency finance or disbursing officer to a duly appointed cashier
for disbursement as needed from time to time in making a payment in case for relatively
small purchases is an - ✔✔impreset fund
✔✔Impresent funds may be used for transactions up to - ✔✔$500
✔✔It is advantageous to establish blanket purchase agreements with firms who -
✔✔Offer quality supplies or services at consistently lower prices than their competitors
✔✔Which of the following is true concerning blanket purchase agreements (BPAs) -
✔✔They may be established with more than one supplier
✔✔When fast payment procedures are utilized, who is responsible for determining the
amount of debts resulting from failure of contractors to properly replace, repair, or
correct supplies lost, damaged, or not conforming to purchase requirements - ✔✔the
CO
✔✔When cancelling a purchase order, if the contractor accepts the cancellation and
does not claim that costs were incurred as a result of beginning performance under the
purchase order, then - ✔✔no further action is required and the purchase order shall be
considered canceled
✔✔Which of the following is true concerning the use of simplified acquisition procedures
- ✔✔Purchases above the micro-purchase level are generally set-aside for small
businesses
✔✔Unpriced purchase orders may be used to acquire - ✔✔repairs to equipment
requiring disassembly to determine the nature and extent of repairs
✔✔Which of the following about micro-purchases is true - ✔✔The government wide
commercial purchase card is the preferred means to purchase and pay for them
✔✔Which of the following is true about quotes - ✔✔A quote is not an offer
✔✔Which of the following concerning descriptive literature is true - ✔✔The CO may
waive the requirement for descriptive literature
✔✔Which of the following is NOT true regarding awards resulting from an invitation for
bids? - ✔✔faxed bids are always welcomed
, IS TRUE: bidders must accept all terms and conditions, bidders must comply with all
material aspects of the invitation, bids must be received by the exact time of the bid
opening
✔✔A pre-bid conference is never to be used for - ✔✔substituting an amendment for an
ambiguous invitation
*Should be for answering industrys questions, explaining requirements, and conducting
market research
✔✔THe first step of two-step bidding involves - ✔✔technical analysis only
✔✔What is acceptable evidence to establish the time of receipt at the government
installation - ✔✔time/date stamp of that installation on the bid wrapper
✔✔Which is NOT a reason to reject a bid - ✔✔The schedule contains an apparent
clerical mistake
✔✔Which of the following concerning electronic bids is true - ✔✔Contracting officers
may authorize use of electronic commerce for bids, but must specify the electronic
commerce method that bidders may use
✔✔Which of the following contract types may be used with sealed bidding procesures -
✔✔firm fixed price and sometime fixed price with economic price adjustment
✔✔In a case where equal low bids are received in response to an invitation for bids,
which category of bidder is given the highest priority for aware - ✔✔small businesses
concerns that are also located in labor surplus areas
✔✔Exchanges of information among all interested parties are encouraged - ✔✔from the
earliest identification of a requirement through receipt of proposals
✔✔A negotiated contract is - ✔✔awarded after using other than sealed bidding
procedures
✔✔Tradeoffs in the source selection process are not permitted - ✔✔when all evaluation
factors and significant subfactors and their importance are clearly stated in the
solication
✔✔Contracts are to be formatted in accordance with the uniform contract format
outlined in FAR part 15. Which contract section is not physically included in the contract,
but shall be incorporated by reference in the contract - ✔✔K(Representations,
Certifications, and other statements of Offerors or Respondents)
