CFCM LATEST 2026 PRACTICE TEST QUESTIONS AND
SOLUTIONS GUARANTEE A+
✔✔When acquiring commercial items, the contracting officer:
(a) Is not required to establish price reasonableness
(b) Can accept the commercial standard for price reasonableness
(c) Must establish price reasonableness in accordance with 13.106-3, 14.408-2, or
Subpart 15.4, as applicable
(d) Must establish price reasonableness in accordance with commercial practices -
✔✔(c) Must establish price reasonableness in accordance with 13.106-3, 14.408-2, or
Subpart 15.4, as applicable
(FAR 12.209)
✔✔A system whereby the CO receives authorization from a fiscal and accounting officer
to obligate funds on purchase documents against a specified lump sum of funds
reserved for the purpose for a specified time rather than obtaining individual obligation
authority on each purchase document is:
(a) A blanket purchase agreement
(b) Long lead funding
(c) Bulk funding
(d) A charge account - ✔✔(c) Bulk funding
(FAR 13.101(b)(4))
✔✔A cash fund of a fixed amount established by an advance of funds, without charge to
an appropriation, from an agency finance or disbursing officer to a duly appointed
cashier for disbursement as needed from time to time in making payment in cash for
relatively small purchases is a/an:
(a) Nonappropriated fund
(b) General fund
(c) Imprest fund
(d) Administrative commitment document - ✔✔(c) Imprest fund
(FAR 13.001)
✔✔Imprest funds may be used for transactions up to:
(a) $25,000
(b) $10,000
(c) $1,000
(d) $500 - ✔✔(d) $500
(FAR 13.305-3(a))
✔✔It is advantageous to establish blanket purchase agreements with firms who:
,(a) Have past performance records that show them to be unreliable
(b) Bid only on purchases over the simplified acquisition threshold
(c) Have provided few purchases at or below the simplified acquisition threshold
(d) Offer quality supplies or services at consistently lower prices than their competitors -
✔✔(d) Offer quality supplies or services at consistently lower prices than their
competitors
(FAR 13.303-2(b)(2))
✔✔Which of the following is true concerning the use of simplified acquisition
procedures?
(a) Purchases above the micro-purchase level are generally set-aside for small
business
(b) The can be used in the acquisition of commercial items without any limits
(c) They cannot be employed when the governmentwide commercial purchase card is
used
(d) There is no requirement for competition - ✔✔(a) Purchases above the micro-
purchase level are generally set-aside for small business
(FAR 13.003(b)(1))
✔✔Which of the following is true concerning blanket purchase agreements (BPAs)?
(a) A purchase requisition is required to establish one
(b) Use of a BPA exempts an agency from the responsibility for keeping obligations and
expenditures within available funds
(c) They may be established with more than one supplier
(d) They may be established even if there is an existing requirements contract for the
same supply or service - ✔✔(c) They may be established with more than one supplier
(FAR 13.303-2(c)(1))
✔✔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?
(a) Program manager
(b) Contracting officer
(c) Head of the contracting activity
(d) Accounting and finance officer - ✔✔(b) Contracting officer
(FAR 13.401(b))
✔✔FAR 13.302-4, "Termination or cancellation of purchase orders," says 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:
(a) No further action is required and the purchase order shall be considered canceled
, (b) The contractor receives a cancellation fee equal to 10% of the original purchase
order price
(c) The contracting officer shall process the termination action
(d) The contractor is entitled to receive the automatic award of any purchase order for
the same item or service generated within 90 days of the cancellation - ✔✔(a) No
further action is required and the purchase order shall be considered canceled
(FAR 13.302-4(b)(1))
✔✔Unpriced purchase orders may be used to acquire:
(a) Repairs to equipment requiring disassembly to determine the nature and extent of
repairs
(b) Commercial or nondevelopmental items
(c) Urgently needed supplies available through multiple sources
(d) Routine items for stock - ✔✔(a) Repairs to equipment requiring disassembly to
determine the nature and extent of repairs
(FAR 13.302-2(b)(2))
✔✔Which of the following is true about micro-purchases?
(a) They may not be awarded without soliciting competitive quotations
(b) Only a contracting officer may award them
(c) The governmentwide commercial purchase card is the preferred means to purchase
and pay for them
(d) The requirements in FAR Part 8 do not apply to them - ✔✔(c) The governmentwide
commercial purchase card is the preferred means to purchase and pay for them
(FAR 13.201(b), (c), (e), 13.202(a)(2))
✔✔Which of the following is true about quotations?
(a) A quotation is not an offer
(b) Solicitation of oral quotations under the SAT is discouraged
(c) Restriction of solicitation to suppliers of well-known and widely distributed makes or
brands is preferred
(d) Standing price quotations may not be used - ✔✔(a) A quotation is not an offer
(FAR 13.004, 13.106-1(c), 13.104(a), 13.103)
✔✔Which of the following is true concerning descriptive literature?
(a) Contracting officers have complete discretion in requiring descriptive literature
(b) The contracting officer may waive the requirement for descriptive literature
(c) Descriptive literature is the same as a bid sample
(d) Unsolicited descriptive literature shall always be disregarded - ✔✔(b) The
contracting officer may waive the requirement for descriptive literature
SOLUTIONS GUARANTEE A+
✔✔When acquiring commercial items, the contracting officer:
(a) Is not required to establish price reasonableness
(b) Can accept the commercial standard for price reasonableness
(c) Must establish price reasonableness in accordance with 13.106-3, 14.408-2, or
Subpart 15.4, as applicable
(d) Must establish price reasonableness in accordance with commercial practices -
✔✔(c) Must establish price reasonableness in accordance with 13.106-3, 14.408-2, or
Subpart 15.4, as applicable
(FAR 12.209)
✔✔A system whereby the CO receives authorization from a fiscal and accounting officer
to obligate funds on purchase documents against a specified lump sum of funds
reserved for the purpose for a specified time rather than obtaining individual obligation
authority on each purchase document is:
(a) A blanket purchase agreement
(b) Long lead funding
(c) Bulk funding
(d) A charge account - ✔✔(c) Bulk funding
(FAR 13.101(b)(4))
✔✔A cash fund of a fixed amount established by an advance of funds, without charge to
an appropriation, from an agency finance or disbursing officer to a duly appointed
cashier for disbursement as needed from time to time in making payment in cash for
relatively small purchases is a/an:
(a) Nonappropriated fund
(b) General fund
(c) Imprest fund
(d) Administrative commitment document - ✔✔(c) Imprest fund
(FAR 13.001)
✔✔Imprest funds may be used for transactions up to:
(a) $25,000
(b) $10,000
(c) $1,000
(d) $500 - ✔✔(d) $500
(FAR 13.305-3(a))
✔✔It is advantageous to establish blanket purchase agreements with firms who:
,(a) Have past performance records that show them to be unreliable
(b) Bid only on purchases over the simplified acquisition threshold
(c) Have provided few purchases at or below the simplified acquisition threshold
(d) Offer quality supplies or services at consistently lower prices than their competitors -
✔✔(d) Offer quality supplies or services at consistently lower prices than their
competitors
(FAR 13.303-2(b)(2))
✔✔Which of the following is true concerning the use of simplified acquisition
procedures?
(a) Purchases above the micro-purchase level are generally set-aside for small
business
(b) The can be used in the acquisition of commercial items without any limits
(c) They cannot be employed when the governmentwide commercial purchase card is
used
(d) There is no requirement for competition - ✔✔(a) Purchases above the micro-
purchase level are generally set-aside for small business
(FAR 13.003(b)(1))
✔✔Which of the following is true concerning blanket purchase agreements (BPAs)?
(a) A purchase requisition is required to establish one
(b) Use of a BPA exempts an agency from the responsibility for keeping obligations and
expenditures within available funds
(c) They may be established with more than one supplier
(d) They may be established even if there is an existing requirements contract for the
same supply or service - ✔✔(c) They may be established with more than one supplier
(FAR 13.303-2(c)(1))
✔✔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?
(a) Program manager
(b) Contracting officer
(c) Head of the contracting activity
(d) Accounting and finance officer - ✔✔(b) Contracting officer
(FAR 13.401(b))
✔✔FAR 13.302-4, "Termination or cancellation of purchase orders," says 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:
(a) No further action is required and the purchase order shall be considered canceled
, (b) The contractor receives a cancellation fee equal to 10% of the original purchase
order price
(c) The contracting officer shall process the termination action
(d) The contractor is entitled to receive the automatic award of any purchase order for
the same item or service generated within 90 days of the cancellation - ✔✔(a) No
further action is required and the purchase order shall be considered canceled
(FAR 13.302-4(b)(1))
✔✔Unpriced purchase orders may be used to acquire:
(a) Repairs to equipment requiring disassembly to determine the nature and extent of
repairs
(b) Commercial or nondevelopmental items
(c) Urgently needed supplies available through multiple sources
(d) Routine items for stock - ✔✔(a) Repairs to equipment requiring disassembly to
determine the nature and extent of repairs
(FAR 13.302-2(b)(2))
✔✔Which of the following is true about micro-purchases?
(a) They may not be awarded without soliciting competitive quotations
(b) Only a contracting officer may award them
(c) The governmentwide commercial purchase card is the preferred means to purchase
and pay for them
(d) The requirements in FAR Part 8 do not apply to them - ✔✔(c) The governmentwide
commercial purchase card is the preferred means to purchase and pay for them
(FAR 13.201(b), (c), (e), 13.202(a)(2))
✔✔Which of the following is true about quotations?
(a) A quotation is not an offer
(b) Solicitation of oral quotations under the SAT is discouraged
(c) Restriction of solicitation to suppliers of well-known and widely distributed makes or
brands is preferred
(d) Standing price quotations may not be used - ✔✔(a) A quotation is not an offer
(FAR 13.004, 13.106-1(c), 13.104(a), 13.103)
✔✔Which of the following is true concerning descriptive literature?
(a) Contracting officers have complete discretion in requiring descriptive literature
(b) The contracting officer may waive the requirement for descriptive literature
(c) Descriptive literature is the same as a bid sample
(d) Unsolicited descriptive literature shall always be disregarded - ✔✔(b) The
contracting officer may waive the requirement for descriptive literature
