CFCM Practice 2024-2025 LATEST VERSION QUESTIONS
AND CORRECT DETAILED ANSWERS GRADED A+
Micro-purchases may be awarded without soliciting competitive quotes if
-Answer-the CO determines that the price is reasonable
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 -Answer-
impreset fund
What is the minimum response time for receipt of bids or proposals for
noncommercial item solicitations -Answer-30 days from the date of
publication of a proper notice of intent to contract
The contracting officer's certification can serve as approval of the
justification for other than full and open competition for a proposed contract
NOT exceeding -Answer-$700,000
FAR Part 6, "Competition Requirements," applies to which of the following?
-Answer-A $1M contract for services
The contracting officer may use competitive proposals in lieu of sealed bids
if -Answer-it is necessary to conduct discussions
If other than full and open competition is anticipated, the acquisition plan
must be coordinated with the cognizant -Answer-competition advocate
Acquisition planning should begin -Answer-as soon as the agency need is
identified
Impresent funds may be used for transactions up to -Answer-$500
It is advantageous to establish blanket purchase agreements with firms
who -Answer-Offer quality supplies or services at consistently lower prices
than their competitors
,Which of the following is true concerning blanket purchase agreements
(BPAs) -Answer-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 -Answer-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 -Answer-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 -Answer-Purchases above the micro-purchase level are
generally set-aside for small businesses
Unpriced purchase orders may be used to acquire -Answer-repairs to
equipment requiring disassembly to determine the nature and extent of
repairs
Which of the following about micro-purchases is true -Answer-The
government wide commercial purchase card is the preferred means to
purchase and pay for them
How often are statutory acquisition-related dollar thresholds in the FAR
adjusted for inflation? -Answer-Every 5 years
A form of written approval signed by an authorized official that is required
by statute or regulation as a prerequisite to taking certain contract actionsi
s defined as a -Answer-determination and findings
Contracting officers below the level of ___ shall be selected and appointed
-Answer-a head of a contracting activity
According to the FAR conventions at Subpart 1.1, each authority is
delegable unless -Answer-specifically stated otherwise
, When an imperative sentence directs action in the FAR, who is responsible
for the action unless another party is expressly cited? -Answer-the CO
Unauthorized commitments are agreements that are NOT binding solely
because -Answer-the government representative who made the agreement
lacked the authority to enter into it
The simplified acquisition threshold for any contract in support of
contingency operations to be awarded and performed, or purchase to be
made, outside of the united states is -Answer-1 million
Commercial Item -Answer-A non developmental item, if the procuring
agency determines the item was developed exclusively at private expense
and sold in substantial quantities, on a competitive basis, to multiple state
and local governments
Consolidating 2 or more requirements for supplies or services, previosuly
provided or performed under seperate smaller contracts, into a solicitation
for a single contract that is likely to be unsuitable for award to a small
business concern is defined as -Answer-bundling
Which of the following are included in the definitions of "contracts" -Answer-
letter contracts and job orders
The government can minimize the opportunity for buying in by using which
of the following techniques -Answer-multiyear contracting, priced options,
and amortization of nonrecurring costs
A contractor's arrangements to pay contingent fees for soliciting
government contracts have long been considered contrary to public policy
because -Answer-they may lead to exercise of improper influence
____ is any money, fee, commission, credit, gift, gratuity, thing of value, or
compensation of any kind which is provided directly or indirectly, to any
prime contractor, prime contractor employee, subcontractor, or
subcontractor employee for the purpose of improperly obtaining or
rewarding favorable treatment in connection with a prime contractor in
connection with a subcontract relating to a prime contract -Answer-
Kickback
AND CORRECT DETAILED ANSWERS GRADED A+
Micro-purchases may be awarded without soliciting competitive quotes if
-Answer-the CO determines that the price is reasonable
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 -Answer-
impreset fund
What is the minimum response time for receipt of bids or proposals for
noncommercial item solicitations -Answer-30 days from the date of
publication of a proper notice of intent to contract
The contracting officer's certification can serve as approval of the
justification for other than full and open competition for a proposed contract
NOT exceeding -Answer-$700,000
FAR Part 6, "Competition Requirements," applies to which of the following?
-Answer-A $1M contract for services
The contracting officer may use competitive proposals in lieu of sealed bids
if -Answer-it is necessary to conduct discussions
If other than full and open competition is anticipated, the acquisition plan
must be coordinated with the cognizant -Answer-competition advocate
Acquisition planning should begin -Answer-as soon as the agency need is
identified
Impresent funds may be used for transactions up to -Answer-$500
It is advantageous to establish blanket purchase agreements with firms
who -Answer-Offer quality supplies or services at consistently lower prices
than their competitors
,Which of the following is true concerning blanket purchase agreements
(BPAs) -Answer-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 -Answer-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 -Answer-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 -Answer-Purchases above the micro-purchase level are
generally set-aside for small businesses
Unpriced purchase orders may be used to acquire -Answer-repairs to
equipment requiring disassembly to determine the nature and extent of
repairs
Which of the following about micro-purchases is true -Answer-The
government wide commercial purchase card is the preferred means to
purchase and pay for them
How often are statutory acquisition-related dollar thresholds in the FAR
adjusted for inflation? -Answer-Every 5 years
A form of written approval signed by an authorized official that is required
by statute or regulation as a prerequisite to taking certain contract actionsi
s defined as a -Answer-determination and findings
Contracting officers below the level of ___ shall be selected and appointed
-Answer-a head of a contracting activity
According to the FAR conventions at Subpart 1.1, each authority is
delegable unless -Answer-specifically stated otherwise
, When an imperative sentence directs action in the FAR, who is responsible
for the action unless another party is expressly cited? -Answer-the CO
Unauthorized commitments are agreements that are NOT binding solely
because -Answer-the government representative who made the agreement
lacked the authority to enter into it
The simplified acquisition threshold for any contract in support of
contingency operations to be awarded and performed, or purchase to be
made, outside of the united states is -Answer-1 million
Commercial Item -Answer-A non developmental item, if the procuring
agency determines the item was developed exclusively at private expense
and sold in substantial quantities, on a competitive basis, to multiple state
and local governments
Consolidating 2 or more requirements for supplies or services, previosuly
provided or performed under seperate smaller contracts, into a solicitation
for a single contract that is likely to be unsuitable for award to a small
business concern is defined as -Answer-bundling
Which of the following are included in the definitions of "contracts" -Answer-
letter contracts and job orders
The government can minimize the opportunity for buying in by using which
of the following techniques -Answer-multiyear contracting, priced options,
and amortization of nonrecurring costs
A contractor's arrangements to pay contingent fees for soliciting
government contracts have long been considered contrary to public policy
because -Answer-they may lead to exercise of improper influence
____ is any money, fee, commission, credit, gift, gratuity, thing of value, or
compensation of any kind which is provided directly or indirectly, to any
prime contractor, prime contractor employee, subcontractor, or
subcontractor employee for the purpose of improperly obtaining or
rewarding favorable treatment in connection with a prime contractor in
connection with a subcontract relating to a prime contract -Answer-
Kickback
